Kokomo Tribune; Kokomo, Indiana

Breaking News

Business

February 7, 2014

US employers add 113K jobs; rate dips to 6.6 pct.

WASHINGTON (AP) — Hiring was surprisingly weak in January for a second straight month, likely renewing concern that the U.S. economy might be slowing after a strong finish last year.

Employers added 113,000 jobs, the government said Friday, far fewer than the average monthly gain of 194,000 last year. Job gains have averaged just 154,000 the past three months, down from 201,000 in the preceding three.

The sluggish job growth could undermine hopes that economic growth will accelerate this year. But economists also say they expect hiring to return to healthier levels in coming months. They note that solid job gains last month in manufacturing and construction point to underlying strength.

Manufacturers, construction firms and mining and drilling companies added a strong 76,000 jobs combined last month.

"You rarely see expansions in these industries without the economy being in fairly healthy shape," said Gary Burtless, an economist at Brookings Institution.

And more people began looking for work in January, a sign that they were optimistic about finding work. Some of these people found jobs, thereby reducing the unemployment rate to 6.6 percent from 6.7 percent in December. That's the lowest rate since October 2008.

Investors seemed pleased by the figures. The Dow Jones industrial average rose 78 points in morning trading.

Soon after the report was released at 8:30 a.m. Eastern time, investors pulled back from stocks and shifted into safer U.S. bonds, sending bonds yields sharply lower. But then stock futures rose back above the levels where they had traded before the news. And the yield on the 10-year Treasury crept back toward its earlier level.

Cold weather likely held back hiring in December, economists said, though the impact faded in January. Construction firms, which sometimes stop work in bad weather, added 48,000 jobs last month.

Signs of economic weakness in the United States and overseas have sent stock prices sinking. Upheaval in developing countries has further spooked investors.

Text Only | Photo Reprints
Business
  • Business briefs, April 13, 2014 Farm Bill disaster assistance Farmers can sign-up for disaster assistance programs, reestablished and strengthened by the 2014 Farm Bill, beginning Tuesday, Howard County Farm Service Agency Executive Director Lisa A. Wooten announced. The Livestock

    April 13, 2014

  • Reality not built on press releases John Quill made his annual spring appearance last week and may stick around for another few weeks. As we enjoyed a relatively warm afternoon on the deck, he asked: "What do you think about the state of the state now?" "Unchanged," I said. "Impossibl

    April 13, 2014

  • Next year's high-skilled visas snapped up in days WASHINGTON (AP) — Businesses seeking highly skilled workers from overseas took less than a week to snap up all 85,000 visas available for next year, the U.S. Citizenship and Immigration Services announced Monday. The agency had been accepting applic

    April 7, 2014

  • California firm acquires Zuna Infotech Newark, Calif. information technology firm Systems in Motion has acquired Kokomo-based Zuna Infotech, setting the table for a potential local business expansion. Systems CEO Neeraj Gupta, said the San Francisco-area firm's expansion model is looking

    March 30, 2014

  • The ideological battle continues The ideological battle continues By Morton Marcus Syndicated columnist

    March 30, 2014

  • BIZ - KT032314 - footgolf pic 3 Coming to Tipton Municipal: Footgolf The number of golfers keeps declining and the sport's gatekeepers haven't been able to find an answer for more than a decade. So the board at the Tipton Municipal Golf Course is embarking on an experiment, hoping the brand new sport called "footgolf"

    March 23, 2014 3 Photos

  • Wal-mart price match [Duplicate] Wal-Mart's new tool gives competitors prices NEW YORK (AP) — The "Every Day Low Price" king is trying to shake up the world of pricing once again. Wal-Mart told The Associated Press that it has rolled out an online tool that allows shoppers to compare its prices on 80,000 food and household pr

    March 21, 2014 1 Photo

  • BIZ-PT031614 maple grove2.jpg [Duplicate] Bursting at the seams: Maple Grove expands GALVESTON -- Maple Grove Distributing is running out of space. It's a race against time for the company to finish its new warehouse, which will add about 6,900 square feet of space for the company's stock of small engine parts. The distributor is app

    March 16, 2014 4 Photos

  • Business briefs, March 16, 2014 First Farmers declares dividend First Farmers Financial Corp. (OTCQB:FFMR), the parent company of First Farmers Bank & Trust Co., announced Wednesday the Board of Directors approved a quarterly cash dividend for the first quarter of 2014 of $0.23 pe

    March 16, 2014

  • Eric Heathers BIZ BRIEFS Business briefs, March 9, 2014 Dr. Eric Heathers receives company award Great Lakes Caring Hospice and Home Health presented to Dr. Eric Heathers, Kokomo, the 2013 Award for Excellence for providing quality care to residents and patients. He received this award from over 1,200 ca

    March 9, 2014 1 Photo

Latest news
Featured Ads
Only on our website
AP Video
Disbanding Muslim Surveillance Draws Praise Hundreds Missing After South Korean Ferry Sinks Passengers Abuzz After Plane Hits Swarm of Bees Boston Bomb Scare Defendant Appears in Court Pistorius Trial: Adjourned Until May 5 Diaz Gets Physical for New Comedy Raw: Ferry Sinks Off South Korean Coast Town, Victims Remember Texas Blast Freeze Leaves Florida Panhandle With Dead Trees At Boston Marathon, a Chance to Finally Finish Are School Dress Codes Too Strict? Raw: Fatal Ferry Boat Accident Suspicious Bags Found Near Marathon Finish Line Boston Marks the 1st Anniversary of Bombing NYPD Ends Muslim Surveillance Program 8-year-old Boy Gets His Wish: Fly Like Iron Man Sex Offenders Arrested in Slayings of CA Women India's Transgenders Celebrate Historic Ruling Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller