November 7, 2012 in Business

Vehicles’ fuel economy continues to edge up

From Wire Reports
 

Americans continue to look for fuel-efficient vehicles when they go car shopping.

The average fuel economy – what is on the window sticker of a new car – of new vehicles sold in the U.S. in October was 24.1 miles per gallon, the highest level yet. It was up 4 mpg, or 20 percent, from October 2007, according to the University of Michigan Transportation Research Institute.

The 24.1 mpg is up from 23 mpg in October a year ago and from 22.3 mpg in the same month in 2010.

U.S. job openings fewest in five months

WASHINGTON – U.S. employers posted fewer job openings in September after advertising more in August than first estimated. The report suggests hiring will likely remain modest in the coming months.

The Labor Department said Tuesday that job openings dropped by 100,000 to 3.56 million, the fewest in five months. August’s openings were revised up to 3.66 million.

The number of available jobs has jumped about 63 percent since July 2009, one month after the recession ended. It remains well below the more than 4 million jobs a month advertised before the recession began in December 2007.

The job market remains very competitive. With 12.1 million people unemployed in September, there were 3.4 unemployed people, on average, competing for each open job.

NEW YORK – Superstorm Sandy knocked off nearly $4 billion of retail sales last week in the hard-hit mid-Atlantic and Northeast region, nearly 20 percent of the usual total, according to figures released Tuesday by a retail data service.

MasterCard Advisors’ SpendingPulse said Tuesday that the region, which accounts for about 24 percent of retail sales nationwide, typically generates $18.7 billion in sales for the week ended Saturday. But revenue came in at about $15 billion. The figures exclude auto sales.

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