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The pandemic has not deterred people from spending money during the holidays this year.According to Mastercard SpendingPluse, holiday retail sales were about 3% higher in 2020 than they were a year ago.“American consumers turned the holiday season on its head, redefining ‘home for the holidays’ in a uniquely 2020 way. They shopped from home for the home, leading to record e-commerce growth,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated said in a press release. “And, consumers shopped earlier than ever before. Across our expanded 75-day holiday shopping season, sales were up 3.0%, a testament to the holiday season and strength of retailers and consumers alike.”Mastercard said that between Oct. 11 and Dec. 24, online spending was up 49%, with sales on furniture and home improvement items also seeing an increase.Online furniture sales grew 31% compared to last year, and home improvement items were up 79%, Mastercard said.Sales for department stores and clothing brands were down this year, with apparel declining 19% and overall sales at department stores fell 10%. 1137
The Navy’s newest, most high-tech nuclear submarines use at least one piece of technology that millions of children use every day — a video game controller.According to The Virginian-Pilot in Norfolk, Virginia, the Navy is replacing traditional periscopes on its Virginia-class nuclear submarines with high resolution cameras that will be controlled with Xbox 360 controllers.According to the Virginian-Pilot, the cameras were originally designed to be controlled with a “helicopter-style” joystick. That design was quickly dropped after officials got feedback from a group of Navy junior officers.Lt. j.g. Kyle Leonard, the assistant weapons officer on the USS John Warner — one of the Virginia-class submarines based in Norfolk — told the Virginian-Pilot that many sailors found the joystick clunky to hold and hard to use.The solution? Integrate a tool that nearly every American kid uses on a daily basis.According to WRC-TV, the controllers are more than just functional. The Xbox controllers will set the Navy back about apiece, while the old system cost nearly ,000.Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider. 1180

The job market keeps pumping out jobs.The unemployment rate fell to 3.9 percent and the economy added 157,000 jobs in July, the Labor Department said Friday.But workers' average hourly paychecks grew tepidly from the previous month and are up just 2.7 percent compared to the same time last year. During previous expansions, wages have grown at a faster pace. Economists' maintain that wages will rise as economy drains remaining slack from the labor market and businesses' pay more to retain workers.Related: How the US economoy is doing now in four charts"With inflation running at a roughly 2 percent rate, that means that there's not a lot of financial wiggle room for many Americans," said Mark Hamrick, Bankrate.com's senior economic analyst. Economists will get another update on inflation next week when consumer and producer price indexes' are released.A quirk in the calendar may explain why average hourly wages inched up only 7 cents from June to July, explained Josh Wright, chief economist at software firm iCIMS: The Labor Department surveys employers at a different time than when companies pay their workers.On the bright side, the hiring spree has continued as the economy marches along. The economy grew at 4.1 percent during the second quarter, its fastest place in nearly four years.Related: US economy grows at fastest paces since 2014In a statement on Wednesday, the Federal Reserve described a healthy picture of the US economy."Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low," the Fed said. "Household spending and business fixed investment have grown strongly."Although the July hiring number fell below economists' expectations, the government revised the previous months' job gains by an additional 59,000. With revisions, job gains have averaged 224,000 a month over the past three months.So far this year, job growth has averaged 215,000 per month, above last year's pace of 182,000, noted PNC chief economist Gus Faucher.Last month, the manufacturing sector added 37,000 jobs. Economists were watching manufacturing closely for signs of a drag from the Trump administration's escalation of trade tensions with China and allies."It appears to be that the strength of fiscal stimulus measures are outweighing any kind of effect of trade tensions," said Wright from iCIMS.The retail sector also added 7,000 jobs, despite 32,000 jobs lost in sporting goods, hobby, book, music and toy stores.Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent.That's good news for workers without a high school degree and those without a college degree. The unemployment rate ticked down for both groups last month."This is not a labor market in which you're going to get your wish list candidate," Wright said. "The question is, 'Can you hire someone who's good enough?'"The-CNN-Wire 2934
The House of Representatives on Thursday approved a two-week extension for a government funding deadline in an effort to avert a partial government shutdown this week but setting the stage for a partial one on December 21.The stop-gap measure, which the Senate is also expected to pass, pushes the deadline for when funding will expire for several government agencies from December 7 to December 21 -- setting up a showdown over spending just days before Christmas.Lawmakers came together to pass the funding extension after the death of George H.W. Bush. On Capitol Hill, much of the week has been dedicated to paying tribute to the former President who was lying in state in the US Capitol rotunda for several days.Congressional leaders in both parties have indicated they do not want a partial shutdown, but Democrats and Republicans remain at an impasse over President Donald Trump's demand for billion for his long-promised border wall and the issue continues to be the key sticking point in negotiations."It's getting late. It's not five minutes to midnight yet but it's getting towards the end of the month," Republican Sen. Richard Shelby, the chairman of the Senate Appropriations Committee said Wednesday.Asked how two additional weeks would help lawmakers reach an agreement over wall funding, Shelby replied, "I think you could do it in 15 minutes if you could reach some sort of resolution to it. Will they, is a good question. ... I don't know if they will."A key question now is whether the President and congressional Democratic leaders can strike a deal.Senate Republicans have floated the possibility of attempting to allocate billion over the next two years. But any spending bill would need at least some Democratic votes to pass.Senate Democratic Leader Chuck Schumer has so far said that the President should either agree to enact an existing Department of Homeland Security funding bill that has bipartisan support in the Senate and would allocate .6 billion for border security or keep DHS funded for another year via a short-term spending measure known as a continuing resolution.The President has kept up the pressure over the course of the week by reiterating his call for funding for the wall. "We would save Billions of Dollars if the Democrats would give us the votes to build the Wall. Either way, people will NOT be allowed into our Country illegally!" the President tweeted on Monday.Lawmakers passed a government spending package to fund much of the government prior to the 2018 midterm elections -- so if there is any kind of a shutdown, it would not affect all of the federal government.But that doesn't mean a partial shutdown would not be disruptive. The current funding deadline is in effect for government entities including the Department of Homeland Security, the State Department and the Interior Department. 2867
The ObamaBiden Administration was the most corrupt in history, including the fact that they got caught SPYING ON MY CAMPAIGN, the biggest political scandal in the history of our Country. It’s called Treason, and more. Thanks for your very kind words Michelle!— Donald J. Trump (@realDonaldTrump) August 18, 2020 319
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