Hermon manufacturer to expand, create jobs
Maine Gov. Paul LePage says a manufacturing company in the state is planning to expand its operations.
The governor said that the Ntension Corporation of Hermon, a wholesale tension-fabric structures manufacturer, will expand this spring into a new 40,000 square-foot facility.
He says that growth will allow the company to create 21 new jobs over the next two years.
The new facility is expected to be completed in May. The company hopes to have between 80 and 90 workers by 2017.
LePage says his administration has been working with Ntension to help the company get the economic incentives to grow their company in Maine.
Employers list more jobs; more employees quit
U.S. employers advertised the most job openings in more than five years in October, and the number of people quitting also reached a five-year high.
The Labor Department said Tuesday that job openings rose 1 percent to a seasonally adjusted 3.93 million. That is the highest figure since May 2008, three months after the Great Recession began.
And the number of workers who quit rose 2.5 percent to 2.39 million, the most since October 2008. More workers quitting can signal a healthy job market, because most of those people likely either have a new job or are confident they can find one.
Rising wholesale stockpiles signal economic growth
U.S. wholesale businesses boosted their stockpiles in October by the most in two years as their sales rose sharply, encouraging signs for economic growth in the final three months of the year.
Wholesale stockpiles grew 1.4 percent in October, the Commerce Department reported Tuesday. That’s nearly triple the 0.5 percent gain in September and the biggest monthly gain since October 2011. Sales at the wholesale level increased 1 percent in October, the most in five months. Sales rose 0.8 percent in September.
Stocks lower after hitting record high on Monday
Stocks fell modestly Tuesday as investors took a breather from a market that notched yet another record high the day before.
The market has hit several all-time highs in recent months, but with the holiday season and end of the year approaching many investors expect the market to be calm as 2013 winds down.I
The Dow Jones industrial average fell 52.40 points, or 0.3 percent, to 15,973.13.
The Standard & Poor’s 500 index lost 5.75 points, or 0.3 percent, to 1,802.62. The index hit an all-time high Monday.
The Nasdaq composite lost 8.26 points, or 0.2 percent, to 4,060.49.