What have you always wondered about the economy? Tell us
By The Numbers

A slow recovery

Janet Nguyen Feb 19, 2016

Congrats, we’ve all finally made it to the end of the week! Here are some need-to-know numbers before we send you off on your much deserved two-day break.  

via GIPHY

John Deere, the company known for heavy machinery and early 2000 headwear trends, has a secret side. A highly profitable one, that provides loans and leases for its machines. Last year, its financial services wing brought in $2.8 billion. Now the financial arm is providing Deere with a bigger share of profits than in the past since new equipment sales haven’t been doing so well. On Friday, the company reported first-quarter earnings of $254 millionlower than the nearly $387 million it took in during the same period in 2015.

Some companies are especially struggling financially. Yahoo announced on Friday that it has set up a committee to “explore strategic alternatives,” which includes finding buyers for the tech company, writes Quartz. Yahoo has plans on shutting down or consolidating various digital media properties and has already closed Yahoo Screen, which was centered on video content. By end of year, Yahoo plans on cutting 15 percent of its workforce, or about 1,600 employees, according to Business Insider.  

At the macro level, state economies are also facing some financial hardships. Generally, states have been recovering slowly, which matches the nationwide economic pace of a 1.6 percent personal income growth, adjusted for inflation. But some states are experiencing a slower recovery than others. Nevada is still bouncing back from the housing crisis, and North Dakota and Alaska are hurting from the dip in oil prices.

 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.