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News
San Diego unemployment is on the rise. Here are the hard-hit industries
59+ min ago (786+ words) San Diego County’s unemployment rate tied its highest level of the year in July, led by teachers and educational support staff on break but also losses in other industries. The region’s unemployment rate was 4.7%, state labor officials said Friday, up…...
Mortgage rates ease again, but remain higher than this time last year
1+ day, 6+ hour ago (368+ words) The average long-term U.S. mortgage rate eased for the second week in a row, but remains elevated compared with this time last year. The benchmark 30-year fixed rate mortgage rate fell to 6.65% from 6.67% last week, mortgage buyer Freddie Mac said Thursday....
The US national debt now stands at $40 trillion
2+ day, 1+ hour ago (341+ words) The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October. The unprecedented $40 trillion figure highlights competing administration priorities, from boosting the defense spending that…...
Retail sales unexpectedly fall in July as government tax refunds fade
1+ week, 10+ hour ago (550+ words) By ANNE D’INNOCENZIO, AP Business Writer Retail sales slipped 0.6% last month, the biggest drop since May 2025, from a revised gain of 0.2% in June, according to Commerce Department data released Friday. There was a notable bump in spending in both April…...
Southern California inflation has cooled, but not enough
1+ week, 9+ hour ago (675+ words) Economic pundits – partisan or apolitical – don’t truly understand inflation. Thankfully, the official inflation rate cooled a bit in July. It’s a welcome respite from a heated spring when the Iranian war spiked gasoline prices, among other things. But nobody should…...
Mortgage rates dip slightly for the first time in six weeks, but remain steeper than last year
1+ week, 1+ day ago (303+ words) Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power. And that can lead prospective home shoppers to delay buying, as seen while rates rose over prior weeks. U.S. sales of previously-occupied…...
Wholesale price inflation slows last month as gas, food costs fall
1+ week, 1+ day ago (300+ words) The Labor Department’s producer price index — which captures inflation before it reaches consumers — rose 4.7% in July from a year ago, down from a much larger 5.5% increase in June. On a monthly basis, wholesale prices were unchanged from June to July,…...
Inflation cooled last month as gas prices fell, though costs remain elevated
1+ week, 2+ day ago (719+ words) Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, the Labor Department said Wednesday. But inflation is still higher than before the Iran war began in February, when it was 2.4%. On a monthly basis, prices…...
US filings for jobless benefits rise to 197,000 last week, but layoffs remain historically low
3+ week, 1+ day ago (413+ words) U.S. filings for jobless aid in the week ending July 25 rose by 9,000 to 197,000, the Labor Department reported Thursday. The previous week’s figure was revised up by 1,000 to 188,000 but remains the lowest in more than 50 years. Analysts surveyed by the data firm…...
The Federal Reserve is expected to keep rates unchanged for now despite high prices
3+ week, 2+ day ago (636+ words) Meeting in Washington Tuesday and Wednesday, the Fed is expected to keep its benchmark interest rate unchanged. Members of the central bank’s rate-setting committee may not be so reluctant to act when they gather again next Sept. 15-16. Inflation has been…...