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Keyword: obamaeconomy

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  • White House: Obama ‘Provided Tax Relief’ in Leading ‘Economic Rescue’ of United States

    12/26/2016 5:22:16 PM PST · by Olog-hai · 53 replies
    Cybercast News Service ^ | December 26, 2016 | 6:05 PM EST | CNSNews.com Staff
    In a report on President Barack Obama’s record, detailing how he led the “economic rescue” of the United States, the White House says that Obama “provided tax relief” to the typical American family. The report, posted on the White House website, is entitled: “Economic Rescue, Recovery, and Rebuilding on a New Foundation.” “President Obama inherited an economy careening toward a Great Depression,” says the introduction to the report, “and he acted aggressively to arrest the crisis, restart growth and job creation, rebuild our economy on a stronger long-term foundation, and expand opportunity for all Americans.” …
  • Say Goodbye to the Annual Pay Raise

    06/26/2016 5:57:44 AM PDT · by grey_whiskers · 44 replies
    MSN Money ^ | June 26, 2016 | Bloomberg Staff
    Annual pay raises don't work. The salary increase serves two purposes: to motivate workers and to keep employees from leaving for a better-paying job. In its current form, the traditional raise does neither of those things very well. "You can't really do a lot with the annual raise," said Evren Esen, director of survey programs at the Society for Human Resource Management. When the economy is decent, annual pay adjustments come in at 1 percentage point or 2 percentage points ahead of inflation for a given year. That doesn't go far. Employees expect to get at least the cost of...
  • Caterpillar Retail Sales Fall For Record 41 Consecutive Months

    05/20/2016 6:44:50 PM PDT · by Lorianne · 18 replies
    Zero Hedge ^ | 19 May 2016 | Tyler Durden
    For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back... until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months! The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe.
  • Macy's results reminiscent of financial crisis

    05/13/2016 4:25:09 PM PDT · by Lorianne · 56 replies
    CNBC ^ | 11 May 2016 | Krystina Gustafson
    Macy's dismal first-quarter results are bringing back unwelcome memories of the financial crisis, as the retailer on Wednesday reported two metrics that harken back to that period of economic malaise. During the first quarter, the department store chain said its comparable sales fell 5.6 percent. That marks a deceleration from its fourth-quarter same-store sales decline of 4.3 percent, and represents its most severe decrease in this metric since the second quarter of 2009. During that quarter, Macy's comparable sales slid 9.5 percent. Meanwhile, the retailer reported a 36 percent year-over-year drop in operating income. That not only marks its seventh...
  • Freight Rail Traffic Plunges: Haunting Pictures of Transportation Recession

    05/06/2016 12:39:42 PM PDT · by Sgt_Schultze · 40 replies
    Wolf Street ^ | Wolf Richter | 4 May 2016
    292 Union Pacific engines idled in Arizona Desert Total US rail traffic in April plunged 11.8% from a year ago, the Association of American Railroads reported today. Carloads of bulk commodities such as coal, oil, grains, and chemicals plummeted 16.1% to 944,339 units. - snip - Only five of the 20 commodity categories saw gains. Of the decliners, coal was the biggest. But petroleum products also plunged 25%, and grain mill products dropped 7%. Even without coal, carloads were down 3% year-over-year.
  • Obama Admits Couldn't "Convince Americans Of 'Recovery'", Bashes 'The Big Short'

    04/28/2016 1:24:21 PM PDT · by Nachum · 47 replies
    Zero Hedge ^ | 4/28/16
    Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in...
  • U.S. jobless claims up, but trend points to firming labour market (Pravadaesque)

    02/25/2016 6:24:31 AM PST · by Red in Blue PA · 11 replies
    WASHINGTON, Feb 25 (Reuters) - The number of Americans filing for unemployment benefits rose last week, but remained below levels consistent with a tightening labour market.
  • So this is what 'full employment' looks like? [That's essentially what we have today]

    02/07/2016 7:29:45 AM PST · by SeekAndFind · 25 replies
    CNBC ^ | 02/07/2016 | Jeff Cox
    For more than seven years, Federal Reserve officials have touted their progress toward achieving "full employment," with the most recent target a 4.9 percent unemployment rate. With Friday's nonfarm payrolls report showing that the goal has been achieved, perhaps the Fed can raise the "Mission Accomplished" banner along with a welcome mat to the world of "full employment." The jobless rate last reached this level in February 2008, following a run from June 2005 to April 2008 during which unemployment never eclipsed 5 percent. Getting a "4-handle" on the number -- using Wall Street lingo -- was supposed to represent...
  • U.S. labor market on solid ground as jobless rate hits eight-year low

    02/05/2016 1:16:06 PM PST · by Rockitz · 16 replies
    Reuters via Yahoo ^ | February 5, 2016 | Lucia Mutikani
    WASHINGTON (Reuters) - U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Non-farm payrolls increased by 151,000 jobs and the unemployment rate slipped one-tenth of a percentage point to 4.9 percent, the lowest since February 2008, the Labor Department said on Friday. The payrolls gain was a sharp step-down from the average 231,000 jobs per month during the fourth quarter. "The fact that payroll gains fell back to earth is not necessarily...
  • In the economy Obama says has recovered, actually just 7% of counties have

    01/13/2016 2:56:11 PM PST · by SeekAndFind · 7 replies
    Hotair ^ | 01/13/2016 | Jazz Shaw
    During his State of the Union address, the President said that the United States has “the strongest, most durable economy in the world.” It was a clear shot across the bow at those who might not be feeling the love at the moment and critics who don’t see things through rose colored glasses. So how is the recovery going? The unemployment rate as defined by the Department of Labor is certainly back down to a manageable number, but that doesn’t really speak to the factors which affect people in their day to day lives.The Wall Street Journal took at...
  • Obama Fails Again To Deliver On His Economic Promises

    10/30/2015 3:19:11 AM PDT · by expat_panama · 28 replies
    Investors Business Daily ^ | 10/29/2015 | Editorial
    Economy: Third-quarter GDP was yet another big disappointment. If the country got a million dollars every time this has happened under President Obama, we'd probably be able pay off the national debt. The Bureau of Economic Statistics reports that real GDP growth for Q3 came in at a meager 1.5%, below forecast. That means the economy has an annualized growth rate of 2.1% so far this year, well below the 3% economists were expecting. It's certainly not the economy Obama described in his State of the Union speech last January. Then, he assured us that "after a breakthrough year for...
  • Displaced Disney Cast Member: How They Replaced Me, Other Americans, With Cheap Foreigners On H1B...

    09/07/2015 11:07:16 AM PDT · by Enlightened1 · 138 replies
    Breitbart ^ | 09/07/15
    <p>As a patriotic and proud citizen of the United States, I have a story to share that has not only impacted my family, hundreds of colleagues, but also current and future United States workers.</p> <p>As I watched the grim faced Disney Executive, it was obvious that bad news was going to be delivered. The dead silence was broken when the Disney Executive made a harsh announcement. All of you in this room will be losing your jobs in the next 90 days. Your last day of employment for this company will be January 30, 2015. Your jobs have been given over to a foreign workforce. In the meantime you will be training your replacements until your jobs are 100 percent transferred over to them and if you don’t cooperate you will not receive any severance pay. Also, if we don’t feel confident that we have captured everything that you do we can, at our discretion, keep you longer than the 90 days until we have captured everything that you do with this job. Don’t discuss this meeting with anybody else in the company. Everybody in the room was appalled at the message. I was completely silent thinking how this was going to affect my coworkers and how I was going to break the news to my wife and children back at home as I was the only person in my home with a steady job. How would I pay for all the expenses that go along with a home, a wife, and children?</p>
  • Joe Biden: 'Something is wrong' with economy

    09/07/2015 8:49:28 AM PDT · by cp124 · 65 replies
    CNN ^ | cp124
    Pittsburgh (CNN)Vice President Joe Biden warned on Monday that "something is wrong" with the American economy as he launched a Labor Day march here with speculation swirling that he may run for President. In a highly populist speech that could foreshadow the themes he would highlight on the campaign trail, Biden said workers have been "clobbered" in the modern economy. "It used to be when productivity went up in America, everybody got to share. The people who caused the productivity increase, they got to share. They got a piece of the action," Biden said before leading a march of an...
  • McDonald's to shrink for the first time in 45 years

    08/11/2015 9:11:46 PM PDT · by MinorityRepublican · 44 replies
    The Daily Telegraph ^ | 11 Aug 2015
    McDonald’s plans to shrink by 59 locations this year in the US, the first time in at least 45 years that the fast food restaurant has closed more US stores than it has opened, as the company cuts costs and tries to revive sales. The world’s biggest restaurant chain has not reduced the net number of its US stores since at least 1970, according to a previous Associated Press review of McDonald's regulatory filings.
  • P&G results raise concerns about pace of turnaround (6 straight quarters of falling sales)

    07/30/2015 12:05:57 PM PDT · by Red in Blue PA · 13 replies
    (Reuters) - Procter & Gamble Co (PG.N) reported its sixth straight quarter of falling sales, hurt mainly by the stronger dollar. Even after stripping out the impact of the dollar and acquisitions, sales rose just 1 percent, raising concerns about the slow pace at which P&G is turning around its business. The company's shares fell as much as 4.3 percent in morning trading on Thursday, after it said sales would fall by a low-to-mid single-digit percentage in the year ending June 2016.
  • US cuts estimates for economic growth over past 3 years

    07/30/2015 7:12:17 AM PDT · by Red in Blue PA · 28 replies
    WASHINGTON (AP) -- The U.S. economy grew more slowly over the past three years than the government had previously estimated, held back by more frugal consumers and steeper spending cuts by state and local governments. Related Stories 1. US economy likely rebounded to solid growth rate in spring Associated Press 2. China’s Stocks Drop for Second Day Before Economic Growth Data Bloomberg 3. Services, Finance and Oil Drive U.K. Growth to 0.7% Bloomberg 4. China June exports up 2.8 percent, imports down 6.1 percent Associated Press 5. Singapore Economy Contracts Most Since 2012 on Manufacturing Bloomberg The economy expanded at...
  • Obama: I spend most of my time on the economy

    06/20/2015 7:44:08 AM PDT · by PROCON · 69 replies
    investors.com ^ | June 20, 2015 | ANDREW MALCOLM
    President Obama's weekly remarks Hi, everybody. As President, I spend most of my time focused on what we can do to grow the economy and grow new pathways of opportunity for Americans like you to get ahead. And we’ve made progress. More than 12 million new private sector jobs in the past five years. More than 16 million Americans who’ve gained health insurance. More jobs creating more clean energy. More kids graduating from high school and college than ever before.
  • Obama Shocked By Disastrous Economic News…Blames Man Made Global Cooling

    05/31/2015 3:48:21 AM PDT · by HomerBohn · 50 replies
    Red Statements ^ | 5/29/2015 | Steven Ahle
    The White House is in a state of shock today after receiving word that the US is halfway to a new recession. They were so dazed, they actually blamed Man Made Global Cooling. The GDP for the first quarter was originally announced as a gain of .2%. Today that number was revised to a drop of .7%. The definition of a recession is when the GDP comes in at a negative number for two quarters in a row. That means we are officially halfway to a new recession. The delicious irony is that after Obama decided to honor our troops...
  • Economy Contracted 0.7% in First Quarter, Partly Due to Rising Imports

    05/29/2015 9:04:24 AM PDT · by Olog-hai · 21 replies
    Cybercast News Service ^ | May 29, 2015 | 9:48 AM EDT | Ali Meyer
    Initial estimates of positive economic growth in the first quarter of 2015 have now turned negative. The U.S. economy actually shrank in the first quarter of 2015 as real gross domestic product (GDP) declined at an annual rate of 0.7 percent, according to the Obama administration’s second look at the numbers. The 0.7 percent decline in first-quarter real GDP was revised from the previously reported gain of 0.2 percent, which was the advance estimate put out at the end of April by the Commerce Department and the Bureau of Economic Analysis (BEA). Real GDP is adjusted for inflation and represents...
  • Top 2 U.S. Jobs by Number Employed: Salespersons and Cashiers

    03/26/2015 9:05:46 PM PDT · by Olog-hai · 10 replies
    Cybercast News Service ^ | March 25, 2015 - 3:04 PM | Rudy Takala
    The Bureau of Labor Statistics (BLS) reported Wednesday that retail sales clerk and cashier were the two largest occupations in the United States in May 2014, with their numbers increasing slightly since 2013. In its annual report on wages and occupational employment, the BLS found that 4.6 million Americans worked in retail sales while 3.4 million more worked as cashiers, making up almost six percent of total U.S. employment. The two job categories increased by a combined 400,000 workers since 2012. Retail workers made $24,020 a year on average, while cashiers made $20,670, according to the BLS. …