The president vowed to focus the rest of his presidency on reducing income inequality.
Obama says reducing income inequality will be focus of rest of presidency.
The nation's top business leaders are upbeat about sales, investment and hiring heading into the next six months.
An index measuring sentiment increased to 84.5 from 79.1 in the July-September quarter, and expectations for economic growth next year remained in line with the previous two quarters at 2.2 percent, according to the Business Roundtable’s (BRT) fourth quarter CEO economic outlook.
Washington D.C.'s city council unanimously backed a plan Tuesday to raise the minimum wage to $11.50 an hour.
Private-sector employment increased by 215,000 jobs in November, the strongest growth this year and a sign that the labor market's growth is accelerating.
The job market showed strength through the government shutdown and the fiscal uncertainty in Washington, according to the November ADP National Employment Report released on Wednesday.
Vice President Joe Biden and Japanese Prime Minister Shinzo Abe agreed Tuesday that their two nations need to move forward this year toward completing an Asia-Pacific trade deal.
While each leader acknowledged the difficulty in melding priorities for the 12 nations involved in negotiations of the Trans-Pacific Partnership (TPP), they expressed optimism in finding solutions and reaching an agreement as scheduled by year's end.
Inequality is a "fundamental threat to American dream," Obama will say.
The argument by congressional Democrats that the economy needs the reauthorization a federal unemployment benefits program got a lift on Tuesday.
The Congressional Budget Office (CBO) said that while the emergency unemployment compensation (EUC) program would cost $25.7 billion for another year it would create 200,000 jobs and add 0.2 percent to gross domestic product.
A top Senate Republican is urging U.S. trade officials to move forward on an Asia-Pacific trade deal with only those countries willing to adopt the highest standards.
Senate Finance Committee ranking member Orrin Hatch (Utah) sent a letter to U.S. Trade Representative Michael Froman on Monday night suggesting that he wrap up work on the 12-nation Trans-Pacific Partnership (TPP) by year's end with those willing to maintain high standards in areas such as intellectual property.
Manufacturing activity hit its fastest pace in more two years in November, a sign that the sector could help boost economic growth heading into next year.
The Institute for Supply Management’s index increased to 57.3, better than expected and the best showing since April 2011, from 56.4 in October, according to the Monday report.