Economy
Follow the latest Economy news, videos, and analysis from ABC News.
November 2, 2024 at 10:54 PM

TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continue

Restaurant chain TGI Fridays says it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand
November 2, 2024 at 10:54 PM
FILE - People peek into a window of a TGI Friday's restaurant to see what they are serving to-go on Wednesday, March 25, 2020, in Miami Beach, Fla. (AP Photo/Brynn Anderson, File)
November 1, 2024 at 2:48 PM

Disappointing 12,000 jobs added in October

Hurricanes Helene and Milton along with the Boeing strike contributed to the weaker numbers, but the unemployment rate remains at 4.1%, matching the September rate and remaining historically low.
November 1, 2024 at 2:48 PM
VIDEO: All eyes on October jobs report
November 1, 2024 at 2:01 PM

Jobs report shows ‘overall picture of the economy remains unchanged’: White House

Acting Labor Secretary Julie Su talks to ABC News’ Elizabeth Schulze about the latest jobs report.
November 1, 2024 at 2:01 PM
VIDEO: Jobs report shows ‘overall picture of the economy remains unchanged’: White House
November 1, 2024 at 1:57 PM

US economy adds 12,000 jobs in October, unemployment rate remains at 4.1%

Hiring slowed in October, but fallout from hurricanes and labor strikes likely caused an undercount of the nation’s workers.
November 1, 2024 at 1:57 PM
VIDEO: US economy adds 12,000 jobs in October, unemployment rate remains at 4.1%
October 31, 2024 at 7:48 PM

A look at Trump and Harris’ plans for the economy

ABC News’ Alexis Christoforous looks at both candidates' plans for the economy and breaks it down for you and your wallet.
October 31, 2024 at 7:48 PM
VIDEO: A look at Trump and Harris’ plans for the economy
October 31, 2024 at 5:34 PM

Average rate on a 30-year mortgage in the US rises for fifth straight week

The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August
October 31, 2024 at 5:34 PM
For sale and sold signs are seen in storage at a real estate office on Tuesday, Oct. 15, 2024, in Portland, Ore. (AP Photo/Jenny Kane)
October 31, 2024 at 4:06 PM

Inflation gauge closely watched by the Fed falls to lowest level in over 3 years

As a presidential race profoundly shaped by Americans’ frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels
October 31, 2024 at 4:06 PM
A shopper checks out at a cash register in a grocery store in Glenview, Ill., Sunday, Oct. 27, 2024. (AP Photo/Nam Y. Huh)
October 31, 2024 at 3:44 PM

Could a Trump presidency damage both democracy and the economy? Experts weigh in

Trump could damage the economy, experts say, if he makes good on threats to prosecute political rivals, including Kamala Harris.
October 31, 2024 at 3:44 PM
Former President Donald Trump at the Economic Club of Chicago in Chicago, Oct. 15, 2024.
October 31, 2024 at 1:26 PM

US unemployment applications fall, layoffs remain at historically healthy levels

Fewer Americans filed for unemployment benefits last week as layoffs remained at historically healthy levels despite elevated interest rates
October 31, 2024 at 1:26 PM
A sign soliciting job applicants is displayed at an ice cream shop in Northbrook, Ill., Sunday, Oct. 27, 2024. (AP Photo/Nam Y. Huh)
October 30, 2024 at 8:41 PM

US economy grew at robust pace in 3rd quarter

U.S. GDP grew at a 2.8% annualized rate over three months ending in September.
October 30, 2024 at 8:41 PM
Shoppers peruse merchandise at a Kohl's in Ramsey, N.J., Oct. 10, 2024.
October 30, 2024 at 3:58 PM

Jobs report on eve of election will be among the most distorted in years

Four days before Election Day, the government will issue its final snapshot of hiring and unemployment in the United States after a presidential race in which voter perceptions of the economy have played a central role
October 30, 2024 at 3:58 PM
FILE - Carl Roath, left, a worker with the Mason County (Wash.) Public Utility District, pulls fiber optic cable on a project to install broadband internet service in the area surrounding Lake Christine near Belfair, Wash., on Aug. 4, 2021. (AP Photo/Ted S. Warren, File)
October 30, 2024 at 3:30 PM

US economy grew at robust pace in third quarter

Chair of the National Council of Economic Advisers Jared Bernstein joins ABC News Live with more.
October 30, 2024 at 3:30 PM
VIDEO: US economy grew at robust pace in third quarter
October 29, 2024 at 7:58 PM

US job openings fell in September to a 3 1/2-year low

U.S. job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum
October 29, 2024 at 7:58 PM
FILE - A steel worker inspects a 155 mm M795 artillery projectile at the Scranton Army Ammunition Plant, Aug. 27, 2024, in Scranton, Pa. (AP Photo/Matt Slocum, File)
October 25, 2024 at 8:32 PM

Why some experts believe we are in a second Gilded Age

As economic inequality and wealth concentration rise, the U.S. is entering a new era of support for workers' rights, reminiscent of the Gilded Age.
October 25, 2024 at 8:32 PM
The Breakers, built 1895 as a summer estate by the Vanderbilt family, one of the famous Newport Mansions on Rhode Island.
October 24, 2024 at 1:42 PM

US unemployment applications fall; continuing claims hit highest level since 2021

The number of Americans filing for unemployment benefits fell last week, but the total number of those collecting benefits rose to its highest level in almost three years
October 24, 2024 at 1:42 PM
The Walmart truck fleet has We're Hiring Drivers signage on the back of the truck on I-88 road in Franklin Grove, Ill., Monday, Oct. 14, 2024. (AP Photo/Nam Y. Huh)
October 24, 2024 at 2:16 AM

Former FDIC chair unpacks the Fed’s rate cuts, economy as a whole

ABC News’ Linsey Davis speaks with former FDIC chair Sheila Bair to unpack how the economy has responded to the Fed’s rate cut last month and concerns for the months ahead.
October 24, 2024 at 2:16 AM
Former FDIC chair unpacks the Fed’s rate cuts, economy as a whole
October 23, 2024 at 10:14 PM

2025 federal income tax brackets announced by IRS

The Internal Revenue Service announced increases in standard deductions as well as changes to certain tax breaks.
October 23, 2024 at 10:14 PM
VIDEO: 2025 federal income tax brackets announced by IRS
October 22, 2024 at 3:02 PM

Yellen to global finance leaders: Isolationism 'made America and the world worse off'

Treasury Secretary Janet Yellen says the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election
October 22, 2024 at 3:02 PM
FILE - The World Bank building is pictured in Washington, April 5, 2021. (AP Photo/Andrew Harnik, File)
October 21, 2024 at 8:39 PM

How to cut entertaining costs during the holidays

Courtney Mason of lifestyle website The Spruce shares tips on how to spend less and save more this holiday season.
October 21, 2024 at 8:39 PM
VIDEO: How to cut entertaining costs during the holidays
October 20, 2024 at 7:04 PM

Mortgage rates climbing despite rate cuts

ABC's Alexis Christoforous reports on the latest housing market as mortgage rates continue climbing, even after the Federal Reserve cut interest rates.
October 20, 2024 at 7:04 PM
VIDEO: Mortgage rates climbing despite rate cuts
October 18, 2024 at 8:12 PM

Gold prices are hitting record highs. Here's why.

Since the beginning of 2024, the price of gold has soared about 32%.
October 18, 2024 at 8:12 PM
Since the beginning of 2024, the price of gold has soared about 32%.
October 18, 2024 at 8:04 PM

Why are gold prices hitting record highs?

Gold prices have soared more than 30% this year.
October 18, 2024 at 8:04 PM
An undated photo shows bars of gold in the vault of the Bank of New York.
October 17, 2024 at 7:30 PM

Student loan debt relief hits major milestone

Under Secretary of Education James Kvaal discusses the program’s changing course and how more than a million public workers are now free from student loan debt.
October 17, 2024 at 7:30 PM
VIDEO: Student loan debt relief hits major milestone
October 17, 2024 at 2:16 AM

By the Numbers: Pandemic-era car loans put people underwater

Pandemic-era car buyers had to shell out big bucks for both new and used vehicles because of dips in inventory, and today increasingly find themselves owing more in loans than their car is worth.
October 17, 2024 at 2:16 AM
By the Numbers: Pandemic-era car loans put people underwater
October 16, 2024 at 2:06 PM

Consumer spending expected to increase to $989 billion during the holidays

The forecast comes from National Retail Federation and is up from $956 billion in 2023.
October 16, 2024 at 2:06 PM
VIDEO: Consumer spending expected to increase to $989 billion during the holidays
October 15, 2024 at 4:15 PM

Thanksgiving food price forecast

According to Wells Fargo, shoppers can expect to pay 16% less for turkey this year compared to 2023, but some side dishes like russet potatoes are at an all-time high.
October 15, 2024 at 4:15 PM
VIDEO: Thanksgiving food price forecast
October 15, 2024 at 2:46 PM

Here's where inflation stands in the cities that could decide the election

Inflation has returned to normal but varies widely in major swing-state cities.
October 15, 2024 at 2:46 PM
Republican presidential nominee former President Donald Trump, left, and Democratic presidential nominee Vice President Kamala Harris during an ABC News presidential debate at the National Constitution Center, Sept. 10, 2024, in Philadelphia.
October 14, 2024 at 3:13 PM

Halloween spending down this year

The National Retail Federation predicts consumer spending on Halloween will drop 5% this year due to concerns about inflation and unemployment.
October 14, 2024 at 3:13 PM
VIDEO: Halloween spending down this year
October 11, 2024 at 7:44 PM

Here's how inflation largely came back to normal

Price increases are hovering right near the Fed's target rate of 2%.
October 11, 2024 at 7:44 PM
Customers shop at a grocery store in Waukegan, Ill., on Sept. 20, 2024.
October 10, 2024 at 2:35 PM

Inflation continues to cool as election nears

ABC News business reporter Alexis Christoforous breaks down the latest economic news.
October 10, 2024 at 2:35 PM
VIDEO: Inflation continues to cool as election nears
October 10, 2024 at 2:25 PM

Inflation continued to cool as election nears

Consumer prices rose 2.4% over a year ending in September, data showed.
October 10, 2024 at 2:25 PM
Stock photo.
1 month ago

Inflation has returned to normal. What does that mean for the election?

Inflation has fallen dramatically but remains a top concern for voters.
1 month ago
High price of Eggs in store, Queens, New York.
1 month ago

More retailers selling gold as consumer demand increases

Costco began selling gold months ago, but more stores are getting in on the craze, as the precious metal continues to be a stable investment.
1 month ago
VIDEO: More retailers selling gold as consumer demand increases
1 month ago

Retailers kick off massive October sales

Amazon, Walmart, Target and more are popping up earlier than ever, with the brands wanting you to start your shopping now and keep it going through the next three months.
1 month ago
VIDEO: Retailers kick off massive October sales
1 month ago

Wall Street celebrating better-than-expected jobs report

ABC News’ business correspondent Alexis Christoforous breaks down the latest jobs report and what it could mean for interest rates.
1 month ago
VIDEO: Wall Street celebrating better-than-expected jobs report
1 month ago

Biden takes a victory lap on economy in surprise visit to White House briefing room

President Joe Biden chose to come to the briefing room for the first time just months before the end of his presidency to tout recent economic wins.
1 month ago
President Joe Biden takes a question during a daily press briefing with Press Secretary Karine Jean-Pierre in the press briefing room at The White House in Washington, Oct. 4, 2024.
1 month ago

Blockbuster jobs report paves way for US economy to avoid recession: Experts

The U.S. economy added 254,000 jobs in September, fresh data showed.
1 month ago
A cyclist rides past a "Now Hiring" sign posted on a business storefront in San Gabriel, Calif. on Aug. 21, 2024.
1 month ago

Jobs report blows past expectations, showing hiring surge

ABC News’ Alexis Christoforous discusses the added jobs numbers in September.
1 month ago
VIDEO: Jobs report blows past expectations, showing hiring surge
1 month ago

Dockworkers hit picket lines in historic US port strike that could impact prices

Tens of thousands of dockworkers are set to strike on Tuesday morning.
1 month ago
Cargo shipping containers and cranes are seen at cargo terminals as part of the Port of Baltimore in Baltimore, June 12, 2024.
1 month ago

Trump and Harris both want a manufacturing boom. Their plans show stark differences.

Manufacturing accounts for about 10% of U.S. gross domestic product.
1 month ago
Former President and Republican presidential nominee Donald Trump listens to questions during a Town Hall event, Sept. 27, 2024, in Warren, Mich. Vice President and Democratic nominee for President Kamala Harris speaks at an event, Sept. 25, 2024, in Pittsburgh.
1 month ago

Hurricane Helene spotlights rising prices for home and flood insurance

The storm left devastation across a vast stretch from Florida to Tennessee.
1 month ago
Baker Jarvis, a resident of Keaton Beach works to recover his belongings from his home after Hurricane Helene passed through the Florida panhandle, severely impacting the community in Keaton Beach, Fla., Sept. 29, 2024.
1 month ago

45,000 dockworkers to strike, which will threatening U.S. supply chain

45,000 dockworkers are expected to walk off the job, potentially shutting down 36 ports from Massachusetts to Texas and causing disruptions in the supply chain and the U.S. economy.
1 month ago
VIDEO: 45,000 dockworkers to strike, which will threatening U.S. supply chain
1 month ago

By the Numbers: Americans increasingly reliant on government aid

As the American population ages and industrial jobs disappear, more people are counting on a larger share of their income to come from government aid such as Social Security, Medicare and Medicaid.
1 month ago
VIDEO: By the Numbers: Americans increasingly reliant on government aid
1 month ago

Dock workers threatening to strike at some of the biggest ports in America

Concerns over potential effects to the supply chain grow as 45,000 dockworkers are threatening to strike from Texas to Maine.
1 month ago
VIDEO: Dock workers threatening to strike at some of the biggest ports in America
1 month ago

A looming port strike could fuel inflation and cause layoffs, experts say

Tens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.
1 month ago
Tens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.
1 month ago

A looming port strike could fuel inflation and cause layoffs, experts say

Tens of thousands of dockworkers are set to strike as soon as Oct. 1.
1 month ago
In this June 10, 2024, file photo, a small boat passes by a cargo ship near the Seagirt Marine Terminal as the main shipping channel at the Port of Baltimore prepares to fully reopen, in Baltimore, Maryland.
1 month ago

Labor Secretary Julie Su on unemployment rates and inflation

ABC News' Linsey Davis speaks with Acting Secretary of Labor, Julie Su, about the direction of America's economy ahead of the 2024 presidential election.
1 month ago
VIDEO: Labor Secretary Julie Su on unemployment rates and inflation
1 month ago

Labor Secretary Julie Su talks unemployment and the interest rate cut

Acting Labor Secretary Julie Su talks about the current unemployment rate and the Federal Reserve interest rate cut.
1 month ago
VIDEO: Labor Secretary Julie Su talks unemployment and the interest rate cut
1 month ago

Unemployment is low but rising quickly. Is it reason to worry?

An interest rate cut last week aimed to maintain job growth, experts said.
1 month ago
Unemployment is low but rising quickly. Is it reason to worry?
1 month ago

Biden calls rate cut 'an important day for the country'

In remarks on Thursday at the Economic Club in Washington, President Joe Biden said the Fed's rate cut was "an important day," but stopped short of declaring victory.
1 month ago
President Joe Biden delivers remarks at the Economic Club of Washington, Sept. 19, 2024.