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economy

Amgen is moving out, and Expedia is moving into Seattle.
Flickr Photo/Chas Redmond (CC-BY-NC-ND)

California-based biotech firm Amgen announced on Tuesday that it would close its Seattle and Bothell campuses by 2015, resulting in the loss of 660 jobs locally. The closure is part of a company-wide layoff of an estimated 2,400 to 2,900.

From Ubrlocal's Facebook page

Ross Reynolds talks with Kamal Patel, co-founder of Ubrlocal, a marketplace for Seattle gardeners and farmers to share their wares.

Microsoft sign on the company's Redmond, Washington campus.
Flickr Photo/Wonderlane (CC-BY-NC-ND)/http://bit.ly/1NM853Z

Last week, Microsoft began the biggest layoffs in the company’s history: 18,000 total expected in the next year. So far, about 1,300 local workers have been affected.

Jon Talton, business reporter for the Seattle Times, told KUOW’s Ross Reynolds on The Record that this event is a test for the local economy. He said the Seattle area is in the midst of an economic boom – driven by Amazon, Boeing’s 777X and 737, increased exports and low unemployment.

In an already pricey real estate market, San Francisco’s median home price has just hit the $1 million mark, according to a new report from industry info firm DataQuick.

To figure out what’s going on in the city by the bay, Here & Now’s Jeremy Hobson turns to Nancy Wallace, co-chair of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley.

According to the June jobs report released Wednesday, Washington’s jobless rate has dropped to 5.8 percent -- the lowest level in six years.

Ross Reynolds talks with economist and real estate analyst Matthew Gardner about the commercial real estate market in Seattle.

Ross Reynolds talks with Lew Daly, director of policy and research at Demos, a public policy think tank in New York. In a report released this month, Daly said our method of measuring gross domestic product obscures public value in our economy.

Citigroup said Monday it had agreed to pay $7 billion to settle a federal investigation into subprime mortgages it sold in the run-up to the financial meltdown of 2008.

The deal covers mortgage-backed securities and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008, the company said in a statement on its website.

Trust In The Age Of The Sharing Economy

Jul 9, 2014

Until recently, there were a few gems of conventional wisdom followed by most: don’t get into a stranger’s car; don’t open your door to someone you don’t know; don’t lend out your valuables. Well, those rules — and so many more — are being upended by the way we’re now living.

Marcie Sillman talks to Seattle Times columnist Jon Talton about the paper's annual report on executive pay. In addition, the two discuss how jobs in America have shifted to service jobs.

Washington State Department Of Transportation Photo

Traffic jams have plagued the Seattle area for weeks. Now a traffic data company reports that congestion has been getting worse even before the traffic snarls of the last few weeks. 

Flickr Photo/Senate Democrats (CC-BY-NC-ND)

This week on Speakers Forum, Massachusetts Senator Elizabeth Warren tells the story of her life and her vision of a progressive America. Warren is known as an advocate for consumer protection. She was largely responsible for the hard-won establishment of the U.S. Consumer Financial Protection Bureau.

From DESC's Facebook page.

David Hyde talks with Bill Hobson, executive director of Downtown Emergency Service Center, about how his organization would implement the $15 minimum wage and why he's advocating that the city help.

Ross Reynolds talks to Giovanni Peri, an economics professor at U.C. Davis, about how foreign-born workers in science and technology might affect the health of economies. Peri argues that the federal government should increase the cap on H-1B worker visas, which would ultimately encourage economic growth and innovation.

Flickr Photo/Downing Street (CC-BY-NC-ND)

The financial crisis of 2008 is widely referred to as the worst fiscal disaster since the Great Depression of the 1930s. It threatened large financial institutions with collapse and resulted in bank bailouts and downturns in stock and housing markets around the world.

'To Have A Place Where I Can Have Food'

May 27, 2014
KUOW Photo/Hannah Burn

The Census Bureau estimates Seattle grew faster than any other major American city last year. As more people move here, the pressure is on to find an affordable home.

Thinking Like A Freak, Economically Speaking

May 23, 2014
KUOW Photo

Arwen Nicks talks with best selling authors Steven Levitt and Stephen J. Dubner about their most recent book, "Think Like A Freak."

Nomi Prins' new book, "All the Presidents' Bankers"

In Nomi Prins' new book "All the Presidents' Bankers," she delves into over a century of close ties between the White House and Wall Street. Using archival correspondence, she explores the ways a small group of influential people, elected and not, has shaped American policy at home and abroad. The book details economic expansion, contraction and crises from the panic of 1907 to today, in the context of what Prins calls America’s genealogy of power.

Flickr Photo/BC Gov Photos

Ross Reynolds talks with economist Dean Baker about why the way we talk about numbers is wrong, and how we can do it better.

Flickr Photo/Robert Fairchild (CC BY-NC-ND)

David Hyde talks with Vaughn Palmer, columnist for the Vancouver Sun, about the latest news from Canada.

We’ve all heard of the Western Gold Rush. But how about the Northwest cattle rush?

Flickr Photo/David Prasad (CC BY-NC-ND)

Marcie Sillman speaks with Seattle Times business columnist Jon Talton about the economic climate of Snohomish County — with and without Boeing's business.

In what’s usually the busiest home-buying season, mortgage lending dropped to its lowest level in 14 years and purchases of new homes sank 14.5 percent.

Some of the factors: mortgage rates have ticked up and investors who snapped up homes last year have retreated. What’s in store for the near future of the housing market?

Tom LaMalfa, an economist and contributor to Mortgage Banking Magazine, discusses this with Here & Now’s Jeremy Hobson.

Flickr Photo/Tax Credits (CC BY-NC-ND)

Marcie Sillman talks with Seattle Times economics columnist Jon Talton about the growing income gap between CEOs and workers.

Flickr Photo/Victoria Pickering

The latest figures show the unemployment rate in Washington state is holding steady at 6.3 percent. The Employment Security Department said the state added an estimated 6,700 jobs in March. The biggest job gains last month were seen in professional and business services.

Jeremy Rifkin's latest book, "The Zero Marginal Cost Society."

Marcie Sillman talks with Jeremy Rifkin about his new book, "The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism."

Flickr Photo/Charles Spurr (CC BY-NC-ND)

Steve Scher talks with Seattle Times columnist Jon Talton about the challenges facing the maritime industry in the Pacific Northwest.

Tyler Cowen's book "Average is Over."

Here in the Puget Sound region and across the country, the economy is making slow and steady progress in recovering from the Great Recession of 2008. But moving forward, many questions still remain. A crucial one involves the growing inequality gap. Economist Tyler Cowen says the U.S. will return to historic levels of inequality and in turn, we'll see a thinning out of the middle class.

His latest book is called “Average Is Over: Powering America Beyond The Age Of The Great Stagnation.” Cowen talked with Marcie Sillman.

Washington state's unemployment rate held steady in February at 6.4 percent according to fresh numbers from the state Employment Security Department.

KUOW Photo/Joshua McNichols

The Sounders FC soccer team played their first Major League Soccer game five years ago Wednesday. In that time, the team’s fans have broken attendance records over and over.

But has the team’s financial success trickled down into the community? It depends on who you ask.

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