Weekly claims, which are a proxy for layoffs, have fallen steadily most of the year since topping 900,000 one week in early January.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Why the Fed feels now is the time to tighten credit more quickly
Federal Reserve Chair Jerome Powell says high inflation, rising wages, solid hiring and falling unemployment have led the Fed’s policymakers to move now to speed up the tightening of credit.
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Posted inBusiness, Nation & World, Politics
Biden, Manchin sharply divided over $2 trillion bill
Democrats need all their votes in the 50-50 Senate to advance the legislation.
Posted inBusiness, Local & State, News
Central Maine Power ranked dead last in nation for customer satisfaction
Advocates of a consumer-owned electric utility for Maine say CMP’s latest low rating by J.D. Power supports their argument.
Posted inBusiness, Nation & World
U.S. health care spending hit $4 trillion in 2020
The 9.7 percent jump is more than double the usual growth rate.
Posted inBusiness, Nation & World
Stocks rally after Fed announces faster pullback, rate hikes
The central bank plans to shrink its monthly bond purchases at twice the pace it previously proposed, likely ending them altogether in March.
Posted inBusiness, Local & State, News
Judge hears arguments in New England power line case days before law takes effect
Judge Michael Duddy said he will decide within the next two days whether or not to grant an injunction that would keep Maine’s voter-approved transmission line law from taking effect.
Posted inBusiness, Local & State
Waterville downtown restaurant closed for numerous health violations, state report says
Cancun Mexican Restaurant must immediately address violations found by a state health inspector, according to a report dated Dec. 8.
Posted inBusiness, Nation & World
Retail sales rose a modest, seasonally adjusted 0.3% in November
News about shortages may have pushed some to begin holiday shopping early, in October.
Posted inBusiness, Kennebec Journal, Local & State
Organic dairy farmers in Maine, Northeast offered new assistance in wake of contract cancellations
The proposal falls short of what state officials and organic agriculture groups had sought after Horizon Organic announced in August that it would not renew dairy contracts with organic dairy farms across the Northeast, including 14 in Maine.