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Economy

Retailers see slow start to back-to-school season

As consumers are holding off on back-to-school shopping, according to a preliminary tally of 10 retailers, many stores are already offering discounts.

U.S. jobless claims at 6-year low but hiring lags

Applications for U.S. unemployment benefits over the past four weeks dropped to a seasonally adjusted 335,500, the Labor Department said Thursday. That's the lowest level since November 2007, which was one month before the recession began.

American economy adds modest 162,000 jobs in July

Friday's report from the Labor Department pointed to a less-than-robust job market as July's gain of 162,000 jobs was the smallest since March. And most of the job growth came in lower-paying industries or part-time work.

Twinkies to return July 15, to last longer than many may remember

Hostess Brands LLC says the spongy yellow cakes will have a shelf life of 45 days when they start hitting shelves again July 15. That's nearly three weeks longer than the 26 days the previous owner had stated as the shelf life for Twinkies.

In urban revival, beer helps create small business hubs

Trendy small businesses like breweries and younger residents have been returning to downtown neighborhoods in many cities across the U.S.

Federal Reserve suggests it's closer to slowing bond purchases

The Fed's bond purchases have helped keep long-term interest rates at record lows. A pullback in the Fed's purchases would likely lead to higher rates on mortgages and other consumer and business loans.

Weak post-recession job market discourages Americans from submitting applications

The percentage of Americans in the labor force dropped to its lowest point since May 1979 after more than half a million people left the work force from February to March.

Group plans large greenhouse farm in Kansas City

Officials with BrightFarms Inc. and the Port Authority of Kansas City announced Monday a plan to build the greenhouse on a 5-acre tract just east of the Heart of America Bridge and next to Berkley Riverfront Park.

Consumer confidence falls in March

The index is closely watched by economists because it makes a monthly gauge of how Americans are feeling about their jobs, incomes and other bread-and-butter issues. That's important because consumer spending accounts for 70 percent of U.S. economic activity.

Boone County Commission seeks board members to oversee Children's Services Fund

The nine-member board will be responsible for the fund, which was created when voters passed a sales tax increase in the November election.

Most U.S. taxpayers won't be able to escape 'fiscal cliff'

A package of tax increases and spending cuts, known as the "fiscal cliff," would take effect in January unless Congress passes a new budget deal before then. 

 

Budget experts say cuts would reduce deficit but cause recession

Congress will look at the tax and spending changes next week, which would cut the federal deficit by $503 billion but cause a spike in unemployment.

 

Low Columbia gas prices are a welcome break for drivers

Columbia gas prices averaged $3.10 Thursday, a 42-cent decrease from the 2011 state average.

Hurricane Sandy's cost might reach $50 billion, although rebuilding could help economy

Hurricane Sandy could be among the ten costliest hurricanes in U.S. history.

Fed: Housing lifts growth in most U.S. regions

The Fed is buying mortgage bonds to lower longer-term rates, which could spur more borrowing and spending. Consumer spending drives nearly 70 percent of economic activity.

High crop prices will balance Missouri's low corn, soybean yields

The severe summer drought in Missouri caused a drop in crop yields in 2012, but experts predict farm income to be higher than the previous eight-year average.

Columbia ranks 10th in list of best college towns

American Institute for Economic Research looks at factors such as education and quality of life.

Community members voice concerns about misuse of eminent domain

A proposed amendment is meant to make blight designation more difficult, but opponents of the proposal think it could broaden the city government's power and cause the opposite effect.

 

MU law professors discuss ramifications of Affordable Care Act

The MU School of Law hosted a panel of law professors in observance of Constitution Day on Monday. The panel expressed concerns about the economic, policy and constitutional effects of the Affordable Care Act.

 

City manager's fiscal 2013 budget would raise building permit fees

City Manager Mike Matthes' upcoming 2013 budget would raise commercial and residential building permit fees for the first time since 1996 if passed.

 

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