Good results for the third quarter
The U.S. economy grew faster than expected in the third quarter. The Commerce Department revised the nation’s economic growth rate to 2.7 percent for the period, up from the 2 percent initially predicted.
Los Angeles Times
Compensation at financial firms hits a high
Compensation at banks and securities firms will hit a record $207 billion this year. The average employee at 32 large U.S. financial companies will reap $128,089 in total pay, up 4.2 percent from 2011.
The Wall Street Journal
Three cities with recovering economies
Pittsburgh, Knoxville, and Dallas are the only three U.S. metropolitan areas currently experiencing economic recovery, according to the Brookings Institution. Last year none of the nation’s 76 urban areas could make that claim.
Good year for car sales
The average car in the U.S. is a record 11 years old, and about 20 percent are 16 years old. The aging fleet is fueling a banner year for retailers, with November’s numbers suggesting annual sales at a four-year high of 15.2 million cars and light trucks.
The Wall Street Journal
Broadway's best performance ever
The Broadway box office hit almost $1.14 billion this year, its best performance ever. More than 12.3 million tickets were sold, with tourists accounting for 63.4 percent of all sales.
Tax bite is less in 2010 than in 1980
Most Americans paid a considerably smaller share of their incomes in total taxes in 2010 than they would have in 1980. Those earning $200,000 or more saw the biggest dip, while families earning less than $25,000 saw less savings, mostly because of payroll taxes, state sales taxes, and local property taxes.
The New York Times
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
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- How liberals are unwittingly paving the way for the legalization of adult incest
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- The troubling persistence of eugenicist thought in modern America
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