Commerce Department

In this week’s Economic Report, Dr. Rick Harper discusses the latest reports on unemployment benefits, job growth, retail sales, and mortgage rates.

According to the U.S. Labor Department, the number of Americans filing for unemployment benefits rose slightly last week, yet remained at a historically low level.

Uiniversity of West Florida

In this week’s Economic Report, Dr. Rick Harper looks at the latest Gross Domestic Product (GDP) figures. According to revised data released Thursday (March 27) by the Commerce Department, GDP grew at an annual pace of 2.6 percent in the fourth quarter of 2013. The growth rate is slightly better than the 2.4% estimate published in February, but was down from 3.2% originally reported in January. Harper says “Overall, it’s a pretty good report,” noting increases in 1) consumer spending, 2) business investment spending, and 3) exports.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses a rise in initial jobless claims.  The U.S. Labor Department says the number of people seeking unemployment benefits rose 8,000 last week to 339,000.