Friday, April 15, 2011
Stay current with what’s happening in the business world. Headlines from this week include…
U.S. Government Reaches Budget Deal, Avoids Shutdown
Both the Congress and the Senate passed the budget deal that was reached last week by Democrats and Republicans to avoid a government shutdown. The plan cuts $38.5 billion in spending for the remainder of this fiscal year which runs through September 30. Some of the measures cut in this year's budget include domestic programs such as high-speed rail, emergency first responders and the National Endowment for the Arts. Now that this year's budget is settled, legislators and the President are facing off again about the next budget's composition of tax increases and spending cuts.
Source: The Economist, CNN.com
College Hiring Looks Promising
The National Association of Colleges and Employers said Thursday that employers are planning to hire 19.3% more new college graduates this year than last year. That marks the association's best spring outlook since 2007, when employers were planning to increase hiring of new graduates by 19.2%. Additionally, employment numbers for the entire nation looked promising in March. The U.S. Economy added 216,000 jobs and the unemployment rate fell to 8.8% last month.
Source: The Week, CNN Money
Gas Prices on the Rise
Gas prices at the pump increased 5.6% in March and are now 27.5% higher than a year ago. In Madison, the price of regular gas at most stations on Thursday was more than $4 a gallon. This comes as the price of crude oil reached $108 a barrel and traders worry that Mideast unrest will disrupt supply. According to The Week, a strengthening economy also increases the cost because economic growth is translated into increased demand for crude.
Source: The Week