Signs are pointing to us entering the dreaded double-dip recession: Friday’s news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the […]
A new report out by the CBO finds that the stimulus most likely saved this country: President Obama’s much-maligned economic stimulus package added as many as 3.3 million jobs to the economy during the second quarter of this year, and may have prevented the nation from lapsing back into recession, according to a report released […]
There is some mixed news on the jobs front. In April there were 290,000 new jobs created, but unemployment also jumped to 9.9%: More confident employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years. The jobless rate rose to 9.9 percent as people streamed back into the market […]
That’s what leading economists are saying (via Cesca): The recovery is shaping up to be stronger than expected and there is little risk the economy will slip back into a recession, according to USA TODAY’s quarterly survey of 46 leading economists. Yet most still say the rebound will fall short of the sharp, V-shaped upturns […]
We are finally starting to see some job growth, though unemployment still remains at 9.7%: The nation’s economy posted its largest job gain in three years in March, while the unemployment rate remained at 9.7 percent for the third straight month. The increase is the latest sign that the economic recovery is sustainable and healing […]
Hey if you are Michelle Malkin they are: Follow the bouncing ball: TARP, the trillion-dollar-plus banking bailout, has morphed from a toxic assets purchase plan to a capital injection plan, back to a toxic assets purchase plan, to a life insurance company bailout, to an auto supplier bailout. I’m sure I forgot more. Well, now […]
More bad economic news for the real people of America – the workers: The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain low until the labor market recovers. Payrolls fell […]
Yesterday the media was going on that we could hear the new unemployment numbers today and they very well could be above 10%, despite all the other signs of the contrary. Well take a look at this: WASHINGTON (AP) Payrolls drop by just 247,000; jobless rate falls to 9.4 percent, sign recession ending. The numbers […]
Some good news on the jobs front: New applications for U.S. jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Still, the number of unemployed Americans getting benefits climbed to a new record. The Labor Department reported Thursday that the number newly laid […]
Paul Krugman does a hell of a job dissecting the Republican party’s failures and where it has left them. One part of his latest column that really sticks out is this: The fault, however, lies not in Republicans’ stars but in themselves. Forty years ago the G.O.P. decided, in effect, to make itself the party […]