- Fake UFC event listing stirs the pot at local Golden Corral (2/10/18)3
- Man transitioning to woman killed herself in Cape City Jail in June; news comes from architect's pitch in Kansas (2/15/18)2
- Charges filed in Sunday murder; suspects in custody (2/14/18)2
- University Foundation to honor Talberts as Friends of the University (2/13/18)2
- Major case squad activated to investigate shooting death in Cape (2/13/18)
- Lovebirds for 80 years give advice: Trust, patience and 'Tell 'em you love 'em' (2/14/18)2
- Jackson schools to install artificial turf on football, soccer fields (2/14/18)
- TJ's Burgers, Wings & Pizza expands with dining area in Fruitland (2/16/18)
- Area restaurants plan for those observing Lent on Valentine's Day (2/12/18)
- Business Notebook: Marco Construction Products offers high-end contractor equipment with personalized service (2/12/18)
May incomes surge, but savings outpace spending
WASHINGTON -- Households pushed their savings rate to the highest level in more than 15 years in May as a big boost in incomes from the government's stimulus program was devoted more to bolstering nest eggs than increased spending.
The Commerce Department says consumer spending rose 0.3 percent in May, in line with expectations. But incomes jumped 1.4 percent, the biggest gain in a year and easily outpacing the 0.3 percent gain that economists expected.
The savings rate, which was hovering near zero in early 2008, surged to 6.9 percent, the highest level since December 1993.