Wisconsin Right Now

Former President Donald Trump blasted the Biden administration, calling it a “massive scandal.” New federal economic data shows that previous data significantly overestimated the health of the U.S. economy. The Department of Labor released revised jobs data that showed they overestimated the number of jobs created in the U.S. economy by 818,000, a whopping revision that set off alarm bells Wednesday. Economic data is often revised in this way, but the size of this change is large enough to raise eyebrows. “Even this number is shocking, job growth is still positive,” Jamie Cox, Managing Partner for Harris Financial Group in Richmond, Va., said in a statement. “If you are in the rate cut in September camp, these data all but seal the deal on what Fed needed to cut rates.” The new job creation numbers are nearly a third lower than the previous figure. The numbers come amid scrutiny of the economic record of Vice President Kamala Harris, the Democratic presidential pick, whose...

Two more economic markers Wednesday raised concerns about the state of the U.S. economy, even as gas prices rise, inflation soars, and the invasion of Ukraine further threatens the supply chain. The National Federation of Independent Businesses released a report Wednesday showing that small businesses have become increasingly concerned about their future. "In February, the NFIB Optimism Index decreased by 1.4 points to 95.7, the second consecutive month below the 48-year average of 98," the group said. "Twenty-six percent of owners reported that inflation was their single most important problem in operating their business, a four-point increase since December and the highest reading since the third quarter of 1981." Inflation remains chief among those concerns after the Consumer Price Index has shown for months the most significant price increases in about 40 years. “Inflation continues to be a problem on Main Street, leading more owners to raise selling p...