Economy

Dow gained over a thousand points Wednesday

Stocks rebounded Wednesday after getting hammered last week and on Christmas Eve. The Dow Jones Index gained 1086 points to close at 22,878. That is the largest points gained in a day for the index in history and was a 4.98 percent gain in value on the day. The move was broad-based and most indexes … Continued

Brandon Moseley

December 27, 2018

46,330 more Alabamians had jobs in November than in 2017

The Alabama Labor Department announces that the state continues to break employment and job records. In November 2018, 2,128,082 people were counted as employed, an increase of 46,330 from November 2017. Wage and salary employment, which measures the number of jobs our economy is supporting, grew to 2,069,800, representing a yearly increase of 35,400 jobs. … Continued

Brandon Moseley

December 26, 2018

Stocks plummet in December

Christmas Eve saw stocks crater. This followed losses on most major indexes last week. With just a few business days left this year could be the worst December for stocks in history. The Dow Jones Index hit a new 52 week low on Monday of 21,792.20. That is its lowest level since September 2017. The … Continued

Brandon Moseley

December 25, 2018

Jones: Trump’s threat to shut down the government over a wall is a “political ploy”

A government shut down this weekend became more probable Thursday after President Donald Trump told GOP lawmakers that he would not sign a bill to fund the government because it doesn’t include money for his border wall, a campaign promise that he has yet to fulfill. The threats blew a gaping hole in the budget … Continued

Chip Brownlee

December 21, 2018

New residential construction is up from October

Privately-owned housing starts in November 2018 were at a seasonally adjusted annual rate of 1,256,000. This is a 3.2 percent increase above the revised October 2018 estimate of 1,217,000. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly made the announcement following the release of new residential construction statistics for … Continued

Brandon Moseley

December 21, 2018

Jones urges Trump to deliver promised aid to farmers hurt by Chinese retaliatory tariffs

U.S. Sens. Doug Jones, D-Alabama, and John Hoeven, R-North Dakota, on Friday wrote to President Donald Trump calling on his administration to announce the second round of the agriculture tariff trade assistance. The first round of Market Facilitation Program (MFP) payments was announced on August 27, 2018. The second round of assistance was anticipated on … Continued

Brandon Moseley

December 18, 2018

Jones encourages rural Alabama entities to apply for USDA broadband infrastructure grants

The USDA is offering up to $600 million in loans and grants to build broadband infrastructure in Rural America and on Friday U.S. Senator Doug Jones (D-Alabama) urged rural Alabama entities to apply for the money. Senator Jones released a statement encouraging eligible rural Alabama entities to apply for the up to $600 million in … Continued

Brandon Moseley

December 17, 2018

Ivey awards $3.1 million in block grants to assist low-income residents

Gov. Kay Ivey has awarded grants totaling $3.1 million for programs that help low-income residents take steps to secure gainful employment and improve their quality of life. The Community Services Block Grants will enable 20 community action agencies throughout the state to help low-income residents achieve self-sufficiency and address barriers to success through a variety … Continued

Brandon Moseley

December 14, 2018

Alabama Career Center System to host emergency meetings for Virginia College students, employees

Wednesday, the Alabama Career Center System, in cooperation with the Alabama Community College System, AIDT, the Southwest Alabama Partnership for Training and Employment (SWAPTE), and the Rapid Response Team (part of the Dislocated Worker Unit at the Alabama Department of Commerce) announced that there will be emergency information sessions for students and employees who have … Continued

Brandon Moseley

December 13, 2018

Farm Bill passes the House of Representatives

Wednesday, the bipartisan 2018 Agriculture and Nutrition Act, H.R.2, better known as the Farm Bill, passed the U.S. House of Representatives. The bill covers agriculture subsidies, conservation, rural development and nutrition. The Farm Bill reauthorizes farm programs and directs the nation’s agricultural policy for the next five years. The House and Senate had both passed … Continued

Brandon Moseley

December 13, 2018