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The labor market may be losing momentum, according to a recent report on job turnover rates from the Bureau of Labor Statistics. Job openings in the U.S. dropped in July by 1.5 percent to 3.67 million compared to last month. New hires have also dropped by 1.2 percent to 4.23 million. The job turnover data follows Friday’s employment report, which showed unemployment falling to 8.1 percent with only … Continue reading»

Economists battle over feasibility of Mitt Romney’s tax plan

FILE - In this Aug. 25, 2012 file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney and his vice presidential running mate Rep. Paul Ryan, R-Wis., arrive for a campaign rally in Powell, Ohio. They're the political world's newest odd couple: Mitt Romney and Paul Ryan are bound by substance, but dramatically different in style. The running mates share a love of policy, and a fascination with the world's economy and America's place in it. But where Romney is buttoned-up and reserved on the campaign trail, Ryan is relaxed and exudes a natural enthusiasm.  (AP Photo/Evan Vucci, File)

SALT LAKE CITY — Economists are battling over whether Mitt Romney’s tax plan is actually possible after a recent Wall Street Journal column written by Martin Feldstein, a professor of economics at Harvard and the presidential candidate’s economic adviser. Feldstein refuted the Tax Policy Center’s study, which claimed that Romney’s plan is “mathematically impossible.” The study also claimed the plan would cause a $181 billion revenue loss if … Continue reading»

Graphic: Deseret News
Source: U.S. Government Accountability Office

More than $850 million in taxpayer dollars went to 117,000 individuals earning cash benefit payments from both disability and unemployment in fiscal year 2010, according to a study from the U.S. Government Accountability Office released this week. Some individuals have received more than $62,000 from both benefits in a year, according to the GAO study. There isn’t a federal law in place that authorizes an elimination of disability … Continue reading»

Harvard economist debunks critics of Romney’s tax plan

Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks during a campaign event at Flagler college, Monday, Aug. 13, 2012,  in St. Augustine, Fla.  (AP Photo/Mary Altaffer)

Critics of presidential candidate Mitt Romney say his plan to lower or eliminate taxes and deductions is “mathematically impossible.” But Martin Feldstein, a professor of economics at Harvard University, doesn’t agree. Critics base their claims on a study from the Tax Policy Center, a part of the Brookings Institution, according to Feldstein’s article in the Wall Street Journal. The study analyzed personal tax revenues and liabilities incurred by … Continue reading»

Home prices rise in June for third consecutive month

Atlanta posted a 12.1 percent drop in annual growth since last year. Photo: akibubblet via Flickr

WASHINGTON — Three consecutive months of rising home prices show signs that the housing market is recovering, according to the Standard & Poor’s/Case-Shiller home price index released Tuesday. The index is a survey of home prices in the nation’s 20 largest metropolitan areas, including Detroit, Las Vegas and Seattle. Composite home prices for all 20 metro areas rose 0.5 percent since June 2011. Every city posted gains in … Continue reading»

Highland residents try for Sunday work restrictions

Highland Utah Sunday, April 22, 2012. The City Council voted 3-2 Tuesday to do away with an ordinance that has been on the books since 2000 that requires most businesses to be closed on Sundays. The issue will be voted on by the public to see if they want it continued. Photo: Scott G. Winterton

HIGHLAND—Some residents in Highland want the city to block businesses from operating on Sunday after officials overturned the restrictions. The petition began after the Highland City Council voted 3-2 in April to allow business to open on Sunday. Now petitioners want the decision to come to voters on the November ballot. Petitioners have gathered 2,200 signatures. The city requires 889. Mann says he and other petitioners would rather … Continue reading»

Pennsylvania’s retirement aid may hurt not help

Photo: afagen via Flickr

Pennsylvania’s efforts to assist its local governments with their retirement plans may be doing more harm than good, according to Bloomberg. The state is home to a quarter of all U.S. public pensions and has paid at least $2 billion to help manage local retirement systems. As a result, thousands of retirement plans covering no more than 10 workers have begun appearing, with some covering fewer than five. … Continue reading»

City Creek Center officials say a built-in consumer base and mixed-use development are what help the mall, located in downtown Salt Lake, flourish while others struggle to keep retailers. “We have residents who live with us, we have office worker that are with us in the daytime and we’re located in the heart of the central business district,” Linda Wardell, general manager of the City Creek Center, said in … Continue reading»

Photo: shutterstock.com

The Security and Exchange Commission charged a Puerto Rico resident and his company today who targeted evangelical Christians and factory workers in a $7 million Ponzi scheme. Ricardo Bonilla Rojas and his firm Shadai Yire allegedly gathered funds from as many as 200 investors in Puerto Rico, Florida, New York and North Carolina, according to a statement from the SEC. “Rojas targeted novice investors who were often evangelical … Continue reading»