Unemployment benefits in Hawaii
Hawaii pays the richest unemployment benefits in the U.S., with an average weekly stipend of $416, or 54 percent of the average weekly wage. Despite concerns that generous benefits discourage job-hunting, the state’s unemployment rate is only 6.3 percent.
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Rising rents in London
With vacancies scarce, rents on residences in London’s poshest areas have risen 16.3 percent from last year, while sales prices have risen only 8.3 percent, reports real estate broker Knight Frank. A one-bedroom in the Knightsbridge district rented recently for $897 a week, 18 percent more than the previous tenant paid.
Bloomberg.com
Kraft passes along higher costs
Kraft said last week that it had raised prices 3.7 percent, enough to offset input costs that have outpaced last year’s by $375 million. Most other food producers are struggling to pass along higher costs that have sliced profits.
MarketWatch.com
Mortgage debt falls
The nation’s mortgage debt declined by $100 billion in the first three months of the year, falling to $10.3 trillion from a peak of $11 trillion in 2008, as borrowers refinanced at lower rates, paid down principal, or defaulted. The additional cash in homeowners’ pockets has stimulated the economy in many parts of the country.
USA Today
Iraq to miss oil production goals
Iraq says it will miss its goal of pumping more than 12 million barrels of oil a day by 2017, up from its current output of 2.6 million barrels. The news dashes hopes that Iraqi output would rein in oil prices.
Financial Times
