Local jobless rate dips to 9.5 percent
Joblessness among residents in the Scranton/Wilkes-Barre metro area slipped modestly in October, falling one tenth of a percentage point to 9.5 percent. The region's unemployment rate remained the highest among the state's 14 metro areas.
Black Friday breaks record
U.S. shoppers hit stores and websites at record numbers over Thanksgiving weekend, according to a survey released by the National Retail Federation.
A record 247 million shoppers visited stores and websites over the four-day weekend starting Thanksgiving, according to the survey. That's up 9.2 percent from a year ago.
Americans spent more too: The average holiday shopper spent $423 over the entire weekend, up from $398. Total spending over the four-day weekend totaled $59.1 billion, up $52.4 billion in 2011.
Gas now cheaper, but more needed
While natural gas may be less expensive this heating season, bills maybe a bit higher for people than last winter.
UGI Penn Natural Gas Inc.'s purchased gas cost rate has fallen from the current $5.22 per thousand cubic feet, or mcf, to $5.11 per mcf, a drop of 2.1 percent. But because this winter is expected to be more normal compared to last year's temperate season, people may end up with higher natural gas bills this time around.
Obama names new SEC leader
President Barack Obama has chosen Elisse Walter, one of five members of the Securities and Exchange Commission, to head the agency after Chairwoman Mary Schapiro leaves next month. Ms. Walter can serve through 2013 without Senate approval because she's already been confirmed to the commission.
Confidence boost as cliff looms
American consumers are growing more confident about the job market, companies are ordering more equipment and home prices are rising in most major cities. The latest batch of government data suggest the economy is improving just as the holiday shopping season begins. The only threat is a package of huge spending cuts and tax increases, known as the "fiscal cliff," that will kick in unless Congress strikes a budget deal by year's end.
Feds cuts off BP contracts
The Obama administration put a stop to new federal contracts with BP on Wednesday, admonishing the British oil company for a "lack of business integrity" and also disqualifying it indefinitely from winning new leases to drill on taxpayer-owned lands. Existing contracts won't be affected.