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HARRISBURG, Pa. (AP) — Pennsylvania’s unemployment rate increased substantially in August as the national economy slowed, jumping by the largest amount in more than two years, the state Department of Labor and Industry said Thursday
Continue reading …WASHINGTON (AP) — Consumers were slightly more confident in the economy in September, but are increasingly worried about the future. The Thomson Reuters/University of Michigan’s consumer sentiment index inched up to 57.8 in September from 55.7 in August, according to a Reuters report.
Continue reading …Oil prices were mixed on Friday at the end of a volatile week’s trading that was dominated by a weak outlook for energy demand amid slowing economic growth. New York’s main contract, light sweet crude for delivery in October, fell 23 cents to $89.17 a barrel.
Continue reading …Asia-Pacific stock markets extended a global rally Friday after the world’s most powerful central banks offered to inject US dollars into lenders squeezed by the eurozone debt crisis. The European Central Bank and its US, Japanese, Swiss and British counterparts announced Thursday they would act in concert to lend dollars to banks facing a shortage of the American currency
Continue reading …This Thursday, Illinois Gov. Pat Quinn announced that he will be traveling to China in order to help increase economic opportunities between Illinois and China.
Continue reading …India’s central bank was expected to hike interest rates on Friday for the 12th time since March last year, as it opts to fight spiralling inflation despite a slowdown in the economy. Economists forecast that policymakers at the Reserve Bank of India (RBI) would raise short-term interest rates by 25 basis points when they announce a decision in financial capital Mumbai at 12:00 pm (0630 GMT). The benchmark repurchase or repo rate, at which the RBI lends to commercial banks, is currently at 8.0 percent, its highest level in nearly three years, while the reverse repo — paid to banks for deposits — is at an over-a-decade high of 7.0 percent.
Continue reading …CHAMPAIGN, Ill. (AP) — Illinois’ unemployment rate shot up almost half a percentage point in August to 9.9 percent. It was a fourth straight month of diminishing job prospects that state officials blame on weak consumer confidence and the struggles of the national economy
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