Latest Economy News

High lumber prices affect Delaware home construction

Jul. 25, 2021 09:08 AM EDT

DOVER, Del. (AP) — The price of lumber in the United States skyrocketed in early May, when lumber cost as much as $1,700 per thousand board feet. However, Kolby Dukes, a manager at Dukes Lumber Co. in Laurel, is hopeful for decreased pricing in the fall and more...

Wisconsin residents push for an increase in minimum wage

Jul. 25, 2021 01:04 AM EDT

MADISON, Wis. (AP) — For 26-year-old Olivia McKnight, raising the minimum wage to $15 an hour would transform her life. As a full-time Popeyes employee in Milwaukee, McKnight makes $10 an hour. This isn’t nearly enough to support herself and her three children. She...

Residents say flood-hit German towns got little warning

Jul. 24, 2021 16:04 PM EDT

AHRWEILER, Germany (AP) — Like other residents of his town in Germany, Wolfgang Huste knew a flood was coming. What nobody told him, he says, was how bad it would be. The 66-year-old antiquarian bookseller from Ahrweiler said the first serious warning to evacuate or...

Lebanon signs deal to sell Iraqi fuel in move to ease crisis

Jul. 24, 2021 10:11 AM EDT

BEIRUT (AP) — Lebanon signed a deal Saturday to broker Iraqi fuel sales in hopes of alleviating a crippling financial and energy crisis in the small Mediterranean country, Lebanese and Iraqi media reported. The deal allows Beirut to resell 1 million tons of heavy fuel...

Indiana Lake Michigan port sees big jump in shipments

Jul. 24, 2021 09:18 AM EDT

BURNS HARBOR, Ind. (AP) — Indiana's Lake Michigan port has seen a big increase in shipments this year as the global economy rebounds from the coronavirus pandemic. In June, the port handled a 52% spike in cargo. So far this year, the Port of...

With workers in high demand, teenagers are filling the void

Jul. 24, 2021 09:13 AM EDT

PITTSBURGH (AP) — As businesses have taken “closed indefinitely” signs out of their windows and reopened their doors, the landscape of a post-pandemic workforce is changing and depending on an unexpected demographic — teens. Teenagers have...

Some property owners plan to fight proposed Va. gas pipeline

Jul. 24, 2021 09:02 AM EDT

RICHMOND, Va. (AP) — Some people in central Virginia are preparing to fight a plan to put a natural gas pipeline through their properties that would serve a yet-to-be-built power plant in Charles City County. While Charles City County has approved the plant, property...

Beware of budget gimmicks in push for massive spending deals

Jul. 24, 2021 08:42 AM EDT

WASHINGTON (AP) — Senators fashioning a pair of colossal bills that would deliver more than $4 trillion for infrastructure, health care, environment and other initiatives insist they will fully pay for both plans. Will they? In a Washington ritual...

Homeownership study asks, 'Who owns the Twin Cities?"

Jul. 24, 2021 01:11 AM EDT

MINNEAPOLIS (AP) — A new study found that between 2005 and 2020, the percentage of single family rentals increased by over 10% in North Minneapolis, Southeast Como and parts of St. Paul, with Southeast Como’s rentals changing due, in part, to an aging homeowner population and localized...

South Dakota housing frenzy has some worried about crash

Jul. 24, 2021 01:02 AM EDT

SIOUX FALLS, S.D. (AP) — Real estate and home sales are setting records in Sioux Falls and across the country. From cash offers to low mortgage rates to hundreds more real estate agents hoping to jump in the market and help buyers compete for homes, right now might feel...