Economics News Investigation
US home prices rise less than expected in Aug.: S&P/Case-Shiller
A home in the United States prices rose in August. The expectations were not met. The price went up less in August than what was expected.
Now they are saying that there is a chance that the price of homes could decrease. It may not be for a very long time Shiller says, but it could happen. They say that this can happen because the recovering of homes had gone up in past years. This is because the government wanted to stimulate the economy by quantitative easing.
This is an example of a positive externality. An externality is a benefit that is enjoyed by a third party as a result of an economic transaction. Third-parties include any individual, organization, property owner, or resource that is indirectly affected. Because the government stimulated the economy by quantitive easing and decreasing the price of homes is seen to benefit us. We can now buy homes for less because of something we had no part in.
Police pay gap: Many of America’s finest struggle on poverty wages
Last August a police shot Michael Brown in Ferguson, Missouri. he boy was only eighteen years old.The police officers in St. Louis County were dispatched to mount protests.They were doing the same job, but their wages were much lower. Their pay is being decided on where they work. If the majority is African-American cities then they get paid poorly, but if thet are in whiter cities further south, then they get maid more.
Some cops are earning a middle-class living, some are on or near poverty. Those cops are forced to have a second or third job to cover basic costs.
This issue is an example of revenue. Revenue has the same meaning as income. Because this issue deals with money it fits well. This could also be and example of scarcity. These people do not have very much money and they need to work many jobs to get some income.
Ship lines accuse union of slowing up cargo, again
Dockworkers union are being accused by ship lines and terminals for a ongoing effort to hamper cargo movements. A statement was issued by the Pacific Maritime Association saying that the union was not allowing dispatched skilled workers to key yards where marine containers are loaded into trains and trucks that are headed inland.
This is a bad relation to efficiency. If they want the job done they are going to have to keep their workers. If they don't allow them to work, the job is not going to get done.
US-based employers report planned layoffs of 51,183 in October: Challenger
The number of layoffs for U.S. employees raised 70% higher then the planned number for October. This is due to falling to a 14-year-low in September. The planned number was about 50,000 jobs cuts, which is 30,000 more then September.
This relates to people being unemployed. When they are unemployed, demped on how, and what type of unemployment they are they can still get an amount of money to keep them going until they find another job. With over 50,000 job cuts there are going to be a lot of people that are going to need those benefits.
US private sector creates 230,000 jobs in October: ADP
Exceeding economists' expectations, U.S. private employers added 230,000 jobs in October. The economists had done research that showed that there should only be 220,000 added jobs.
Including October's gain, the U.S. economy has produced more than 200,000 private-sector jobs for a record seven straight months, dating back to the ADP series in May 2001. Private employers have now added jobs for 56 straight months at an average rate of more than 186,000 per month.
This is the exact opposite of unemployment. Instead of 50,000 people losing their jobs, 230,000 job are added. People needing jobs or people looking for jobs can get into those businesses and most likely raise their income. An increase in jobs is good no matter what because it gives people a chance to better their lives.
In states voting on minimum wage, even critics sound like supporters
Labor union and community groups have pushed lawmakers to increase the minimum wage. These efforts have not worked out in many places where Republicans are in control. This is happening in many states. Many workers are frustrated by this. Workers' advocates have bypasses the legislature and placed a minimum-wage increase on the ballot. This is happening in the Republican states.
The federal government mandating that the minimum wage is to be raised above $7.25 in the sates Alaska, Arkansas, Nebraska, and South Dakota.
This is in relation to profit. The people that are making minimum wage will now have and increase in their money. In some cases they may even get to drop one of their extra jobs. An increase in the minimum wage will help bring people out of poverty.
US factory orders fall, but unfilled orders still rising
In September a setback for the manufacturing sector was placed when new orders for U.S. factory goods fell for the second month in a row.
Orders were dropped by 0.6 percent. In August they dropped 10 percent.
The September fall was expected. The estimated fall was based on aircraft, machinery, capital goods, computers, and electronic products. This rate is said to be short-lived.
This is an example of demand. Demand meaning since the orders dropped, they want to do anything to get more the next month. They may have to ask for thing to help them because of the low income in the last month. They not have a larger amount of supply since not as many orders were made.
4% economy possible with 'right election': Welch
In the midterm election it is to be expected that the Republicans will take the senate. If this happens the U.S. has potential to grow much quicker. The Governments look at the GDP in the third quarter showed a 3.5 expansion rate. This is less than the 4.6 percent in the fourth quarter of last year.
This relates to GDP. GDP is gross domestic product. This means the total value of goods produced and services provided in a country during one year. GDP has to do with Consumption (C), Investment (I), Govenment Purchases (G), Exports (X), Imports (M), and Net Exports (X-M). There is a formula C + I + G + (X-M) = GDP.