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Keyword: thebusheconomy

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  • Manufacturing jobs keep slipping away

    07/14/2010 2:22:26 PM PDT · by Willie Green · 13 replies
    Buffalo Business First ^ | Wednesday, July 14, 2010 | G. Scott Thomas
    A new Business First study shows that the Buffalo area has lost 35,600 manufacturing jobs in the past 10 years. That means, on average, that 300 manufacturing jobs are disappearing from Erie and Niagara County every week -- roughly 10 every day. We’re not alone, of course. Ninety-eight of the nation’s 100 biggest markets have fewer manufacturing jobs now than they did a decade ago. Six have lost more than 100,000 positions. The database below has the complete breakdowns for all 100 of those metros. You can sort the list by any column just by clicking the appropriate header. Additional...
  • The Bush Economy

    01/17/2009 7:11:11 AM PST · by drellberg · 63 replies · 836+ views
    Wall Street Journal ^ | JANUARY 17, 2009 | Editorial
    "... to win over Senate Democrats, Mr. Bush both phased in the tax rate reductions and settled for politically popular but economically feckless tax rebate checks." "...Mr. Bush's spending record is less admirable, especially during his first term. He indulged the majority Republicans on Capitol Hill, refusing to veto overspending ..."
  • George W. Hoover? -William Kristol

    11/16/2008 10:16:25 PM PST · by Wegotsarah.com · 38 replies · 1,724+ views
    NY Times ^ | 11-17-08 | Bill Kristol
    Last week, assembled at Miami’s InterContinental Hotel for a meeting of the Republican Governors Association, the governors seemed cheerful. The G.O.P. had lost only one statehouse on Election Day. The prospects for a Republican pickup in Virginia in 2009 were decent, and good candidates were plotting runs in states like California, Pennsylvania and Ohio in 2010. There was even a sense of liberation in the air. For the last 14 years, there has been either a Republican Congress or a Republican White House, or sometimes both. Now the Republican governors are free of those heavy taps on the shoulder from...
  • DOW Down 500+

    10/22/2008 12:38:35 PM PDT · by tatown · 53 replies · 1,826+ views
    tatown | 10/22 | tatown
    DOW currently down 561 points.
  • US stock futures pare losses after private sector adds, rather than loses, jobs in May

    06/04/2008 5:53:53 AM PDT · by Brilliant · 9 replies · 155+ views
    AP via Yahoo! ^ | June 4, 2008 | Tim Paradis
    U.S. stock futures are pulling off their lows as an employment reading shows that the private sector added jobs last month. The ADP National Employment Report arriving Wednesday shows that the private sector added 40,000 jobs in May, rather than declined by 60,000 as economists had been expecting, according to Dow Jones Newswires. Dow Jones industrial average futures are down 20, or 0.16 percent, at 12,384, off their earlier lows.
  • Economic growth revised up in first quarter (NO RECESSION!)

    05/29/2008 6:02:21 AM PDT · by tobyhill · 12 replies · 172+ views
    MSNBC ^ | 5/29/2008 | ap
    WASHINGTON - The economy plodded ahead at a 0.9 percent pace in the first quarter — slightly better than first estimated — but still underscoring caution on the part of consumers and businesses walloped by housing, credit and financial problems. The new reading on gross domestic product, released by the Commerce Department on Thursday, was an improvement from the government’s initial growth estimate for the January-to-March quarter as well as the economy’s performance in the final quarter of last year. Both periods were pegged at a 0.6 percent growth rate. Gross domestic product, or GDP, measures the value of all...
  • Home sales post unexpected April increase

    05/27/2008 7:24:24 AM PDT · by DaveLoneRanger · 52 replies · 234+ views
    Yahoo News ^ | May 27, 2008 | Martin Crutsinger
    Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years. The Commerce Department reported Tuesday that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units. But the government revised March activity lower to show an even bigger drop of 11 percent to an annual rate of 509,000, which was the weakest pace for sales since April 1991. Economists believe that new home sales will remain weak for some time as the housing industry...
  • Home sales unexpectedly rise in April (Another Blow to the Recession LIE)

    05/27/2008 9:16:39 AM PDT · by NYC Republican · 15 replies · 202+ views
    AP ^ | 5/27/08 | MARTIN CRUTSINGER
    Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years. ADVERTISEMENT The Commerce Department reported Tuesday that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units. But the government revised March activity lower to show an even bigger drop of 11 percent to an annual rate of 509,000, which was the weakest pace for sales since April 1991. Economists believe that new home sales will remain weak for some time as the housing...
  • Housing posts big rebound in April WE'RE DOOMED!!

    05/17/2008 4:31:23 AM PDT · by expat_panama · 82 replies · 237+ views
    The Washington Times ^ | May 17, 2008 | Martin Crutsinger
    ASSOCIATED PRESS - Construction of new homes posted the biggest increase in more than two years in April. While it was a rare bit of good news for the housing market, analysts said it's far too soon to declare an end to the extensive slump. The Commerce Department reported yesterday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. Building of single-family homes continued to weaken, however. The growth came from a big jump in apartment construction. Analysts predicted the surprising rebound in April would be temporary given the headwinds...
  • New home construction rises in April

    05/16/2008 5:46:29 AM PDT · by abb · 32 replies · 211+ views
    CNNMoney ^ | May 16, 2008 | Staff
    Initial construction of U.S. homes rose unexpectedly in April, according to a government report released Friday. Privately owned housing starts rose to a seasonally adjusted annual rate of 1,032,000 in April, according to the Commerce Department. The rate was up 8.2% from March's revised reading of 954,000 but 30.6% lower than April of 2007. Economists were expecting housing starts to decline to 940,000, according to consensus estimates compiled by Briefing.com. Construction of new single-family homes, however, was at a rate of 692,000 in April, or 1.7% below March's number. That is the lowest reading of that measure since January 1991....
  • Steinbeck’s grapes lack wrath this time around (Where's the US's Great Depression?)

    05/06/2008 7:52:57 AM PDT · by Obadiah · 9 replies · 216+ views
    The Times ^ | 5/6/08 | Gerard Baker
    Whatever happened to the Great Depression? Not the real one from 70 years ago, the lost decade of unimagined misery and Steinbeckian angst, the worst period in the history of modern capitalism. I mean the replay we were promised this year. The one we were told was the inevitable counterpart to the greatest financial crisis since a couple of medieval Italians first sat down on a Florentine bench and invented the word “bank”. I don’t know about you but I feel a bit cheated. There we all were, led to believe by so many commentators that the sub-prime crisis was...
  • Bush's 'R' Is for 'Right'

    05/03/2008 10:47:12 AM PDT · by The_Republican · 25 replies · 293+ views
    Real Clear Politics ^ | May 3rd, 2008 | Larry Kudlow
    President George W. Bush may turn out to be the top economic forecaster in the country. About a month ago he told reporters, "We're not in a recession, we're in a slowdown." At a White House news conference a few weeks later, despite the fact that reporters pressed him to use the "R" word, Mr. Bush refused. And on Friday, after the most recent jobs report -- which produced a much-smaller-than-expected decline in corporate payrolls, a huge 362,000 increase in the more entrepreneurial household survey (the best gain in five months), and a historically low 5 percent unemployment rate (4.95...
  • Economy shows resilience; jobless rate falls as dollar rises

    05/02/2008 8:19:07 PM PDT · by BenLurkin · 10 replies · 92+ views
    AP ^ | Friday May 2, 4:42 pm ET | Jeannine Aversa,
    WASHINGTON (AP) -- The economy showed off unexpected signs of resilience Friday as job losses slowed, the dollar gained a bit of muscle for a change and there were even indications that food prices may be easing. The unemployment rate dipped, though that may not last. The latest barometers flashed encouraging signs that the economic slowdown may not be as pronounced as some had feared. Still, there's much caution -- about housing, credit and other problems. "Economic or financial conditions could take an unexpected stumble at any time," warned Stephen Stanley, chief economist at RBS Greenwich Capital. Employers eliminated 20,000...
  • Unemployment rate falls to 5% (CNN Ticker)

    05/02/2008 5:35:46 AM PDT · by abb · 130 replies · 437+ views
    CNNMoney ^ | May 2, 2008 | Staff
    Employers trimmed a less-than-expected 20,000 jobs in April, marking the 4th straight month of losses; unemployment falls to 5%.
  • What Happened to the Recession? Surprise! Bush Expansion Continues

    05/01/2008 4:35:33 AM PDT · by Invisigoth · 15 replies · 119+ views
    North Star Writers Group ^ | May 1, 2008 | Dan Calabrese
    I once heard Rush Limbaugh say the way he deals with a recession is to “not participate in it.” Today we found out that in our current so-called recession, the economy itself is not participating. You’ve heard, of course, about the “recession.” The Associated Press has been referring to it as an established fact for much of the year. Every day, we see interviews with economists who grimly warn that we are surely already in a recession. The only debate is how bad it will get. Oops. Some facts just arrived, and they’re not what the media, the economists and...
  • Job losses: Worst in 5 years

    03/07/2008 12:50:44 PM PST · by NoWayMcCain · 38 replies · 252+ views
    CNN ^ | March 7, 2008 | Chris Isidore
    NEW YORK (CNNMoney.com) -- Employers made their deepest cut in staffing in almost five years in February, the Labor Department reported Friday. There was a net loss of 63,000 jobs, which is the biggest decline since March 2003 and weaker than the revised 22,000 jobs lost in January. Economists had forecast a gain of 25,000 jobs. The weak report fueled already mounting recession fears and is likely to keep the Federal Reserve cutting interest rates further when it meets later this month. "Based on today's Employment Report, if we are not in a recession, it is a darned good imitation...
  • Labor Department: Non-Farm Payrolls Drop 17,000 in January; Unemployment at 4.9%

    02/01/2008 5:42:11 AM PST · by Recovering_Democrat · 20 replies · 129+ views
    Labor Department: Non-Farm Payrolls Drop 17,000 in January; Unemployment at 4.9%
  • Bush Exploring Economic Stimulus Package

    01/03/2008 6:31:12 PM PST · by hedgetrimmer · 90 replies · 602+ views
    Associated Press ^ | Thursday January 3, 2008 | Deb Riechmann
    WASHINGTON (AP) -- Amid new worries about a possible recession, the housing slump and rising oil prices, President Bush is exploring an economic stimulus package to reinforce the U.S. economy. White House press secretary Dana Perino said Thursday that Bush is closely monitoring economic trends and is seeking input from his economic advisers on the pros and cons of such a package. "The president has indicated that he will not make up his mind as to whether or not to lay out a package until the State of the Union," Perino said about the president's speech on Jan. 28. "Our...
  • November Factory Orders Up 1.5 Percent

    01/03/2008 7:18:35 AM PST · by Perdogg · 4 replies · 139+ views
    Yahoo ^ | Thursday January 3, 10:05 am ET | By Martin Crutsinger, AP Economics Writer
    Orders to U.S. factories jumped in November by the largest amount in four months, but a key gauge of business investment fell for a second straight month, raising new worries about the strength of manufacturing. The Commerce Department reported Thursday that orders for manufactured goods rose by 1.5 percent in November, but the increase was driven by a big jump in demand for oil, reflecting surging prices. Demand for big-ticket durable goods actually fell by 0.1 percent in November
  • So Much Economic Good News Amid So Little Cheer

    12/31/2007 10:55:56 PM PST · by SeekAndFind · 5 replies · 242+ views
    American Enterprise Institute ^ | 12/31/2007 | Kevin Hassett
    Dec. 31 (Bloomberg) -- The U.S. is ending 2007 with a whine rather than a whimper. It is tough to keep track of what's collapsing faster, home prices or the dollar, and the financial market crisis caused by it has many seers talking recession as we enter 2008. As always, that delicious negativity receives the lion's share of media attention. But, in many ways, this past year was a pretty good one, and no, I am not just a talking about Boston's sports fans. Thus, to ring in the New Year, I present the Top 10 pieces of happy economic...
  • Spending surge eases worries of "recession"

    12/22/2007 12:45:45 AM PST · by JohnHuang2 · 28 replies · 142+ views
    Washington Times ^ | December 22, 2007 | By Martin Crutsinger
    Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls last month, pushing spending up by the largest amount in 3½ years. The better-than-expected surge lessened fears of an imminent recession. The Commerce Department reported yesterday that consumer spending shot up 1.1 percent last month, nearly triple October's gain. It was the biggest one-month jump since a 1.2 percent rise in May 2004 and was significantly higher than the 0.7 percent gain analysts had expected. Incomes were also up last month, but the 0.4 percent increase was far below the rise in spending....
  • Consumer Spending Surges in November (We`re DOOMED !)

    12/21/2007 6:44:59 AM PST · by Para-Ord.45 · 38 replies · 229+ views
    http://biz.yahoo.com ^ | Friday December 21, 8:49 am ET | Martin Crutsinger
    WASHINGTON (AP) -- Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls in November, pushing spending up by the largest amount in 3 1/2 years. The Commerce Department reported Friday that consumer spending surged by 1.1 percent last month, nearly triple the October gain. The gain reflected various promotional efforts by retailers such as heavy discounting and longer store hours at the start of the holiday shopping season....
  • Stocks Open Higher on Merrill Report ( +130 in early trading)

    12/21/2007 6:59:26 AM PST · by Perdogg · 6 replies · 159+ views
    Biz.yahoo ^ | 12.21.07 | By Tim Paradis, AP Business Writer
    Stocks opened higher Friday following a better-than-expected rise in profits at Research in Motion Ltd. and on word that Merrill Lynch might have lined up a big cash infusion from a Singapore fund. Research in Motion said late Thursday its fiscal third-quarter profit more than doubled on strong demand for its BlackBerry smart phones. The results gave Wall Street hope that the technology sector has further to climb and that consumers and businesses are still spending.
  • Commerce Secretary Gutierrez Praises Robust Third Quarter GDP Growth (4.9% !? We`re Doomed!)

    12/20/2007 9:24:33 AM PST · by Para-Ord.45 · 15 replies · 330+ views
    http://www.commerce.gov ^ | 11/29/07 | OFFICE OF PUBLIC AFFAIRS
    Commerce Secretary Carlos M. Gutierrez today released the following statement on the revised third quarter real gross domestic product (GDP) report, which showed that the American economy grew at 4.9 percent in the third quarter of 2007, the highest rate of GDP growth in four years: “In the face of real challenges, our resilient economy has now experienced six years of uninterrupted growth. As the holiday shopping season begins, I am pleased with today’s strong GDP report, coupled with the 1.68 million jobs added over the past year and low unemployment. President Bush’s pro-growth policies are moving our economy forward....
  • Solid Job Gains, Wage Growth in Nov.

    12/07/2007 6:12:32 AM PST · by Toddsterpatriot · 20 replies · 102+ views
    Yahoo! Finance ^ | December 7, 2007 | Jeannine Aversa
    Employers Boost Payrolls by 94,000; Jobless Rate Holds Steady at 4.7 Percent WASHINGTON (AP) -- Employers added a solid 94,000 jobs to their payrolls in November, the unemployment rate held steady at 4.7 percent and wages grew briskly, encouraging signs the nation's employment climate is holding up in the face of turbulence in the housing and credit markets. The fresh snapshot of the labor market, released by the Labor Department on Friday, showed that hiring was brisk in education and health services, retail, professional services, the government and elsewhere. That helped to offset job losses in construction, manufacturing and financial...
  • Corporate Leaders Upbeat on Economy (Where's the Doom?)

    12/04/2007 3:01:49 PM PST · by rightinthemiddle · 15 replies · 72+ views
    AP/YeeHee ^ | Tuesday December 4, 1:57 pm ET | Jeannine (lib) Aversa, AP Economics Writer
    Business Leaders Feel Pretty Good About Economy's Prospects Despite Housing, Credit Woes WASHINGTON (AP) -- The country's top corporate executives foresee pretty good business prospects even as the economy gets squeezed by a housing collapse, a credit crunch, Wall Street turmoil and high energy prices. A survey by the Business Roundtable, released Tuesday, showed that most executives expect sales, capital investment and hiring to remain at current levels or even improve in the coming months. While the economy's problems have caused consumer confidence to tank, the survey's results suggest that corporate executives' assessment is that the business climate remains generally...
  • Economy Grew 4.9% in 3rd Quarter, Up From Previous Estimate of 3.9%

    11/29/2007 6:32:25 AM PST · by Sub-Driver · 49 replies · 180+ views
    Economy Grew 4.9% in 3rd Quarter, Up From Previous Estimate of 3.9% By JEFF BATER November 29, 2007 9:06 a.m. WASHINGTON -- The U.S. economy soared last summer, growing at a rate much stronger than earlier estimated, but the earnings of companies were flat, the government reported Thursday. Gross domestic product rose at a 4.9% annual rate July through September, the fastest quarterly pace since 7.5% in third-quarter 2003, the Commerce Department said. The new, 4.9% estimate for third-quarter 2007 GDP reflected a revision up from a previously reported 3.9% increase. Higher inventories and exports were behind the government's revision...
  • Dow Surges 331 Points (Best Single Day gain since 2002)

    11/28/2007 1:51:32 PM PST · by MNJohnnie · 46 replies · 91+ views
    Fox Business ^ | 11-28-2008 | Fox Business
    The Dow closed with its best two-day performance since 2002, as stocks urged more than 331 points on Wednesday on hopes of another interest rate cut. Today's Markets The Dow Jones Industrial Average gained 331.01 points, or 2.55% to 13289.45, the Standard & Poor’s 500 index picked up 40.79 points, or 2.86% to 1469.02 and the Nasdaq Composite Index rose 82.11, or 3.18%, to 2662.91. The consumer-friendly Fox 50 gained 27.15, or 2.62%, to 1062.18. The three major indexes closed more than 2% higher, building on Tuesday's 215 point rally on the Dow. This is the first time that stocks...
  • Retailers cheer initial holiday sales(Where`s the Crash!?/sarcoff)

    11/26/2007 8:48:59 AM PST · by Para-Ord.45 · 27 replies · 72+ views
    http://money.cnn.com/2007 ^ | November 24 2007 | AP
    Retailers cheer initial holiday sales Research group and Penney both say weekend results have started off strong. The nation's retailers had a robust start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at retail outlets across the country. According to ShopperTrak RCT Corp., which tracks sales at more than 50,000 retail outlets, total sales rose 8.3 percent to about $10.3 billion on Friday, the day after Thanksgiving... http://money.cnn.com/2007/11/24/news/economy/bc.holidayshopping.ap/index.htm?postversion=2007112417
  • Asian Stocks Flying: Strong US Retail Sales Mentioned

    11/25/2007 8:46:03 PM PST · by Professional · 71 replies · 184+ views
    Professional
    China up over 4%, Japan up 2.4%. Pretty sure this was unexpected, looks like retail sales during the w/e were much higher than expected, up about 8%, with online purchases up 22%. Back to the Bull!
  • Retailers Post Robust Start to Holidays

    11/24/2007 8:33:38 PM PST · by ECM · 17 replies · 158+ views
    AP via MyWay ^ | Nov 24, 10:32 PM (ET) | ANNE D'INNOCENZIO
    NEW YORK (AP) - The nation's retailers had a robust start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at retail outlets across the country. According to ShopperTrak RCT Corp., which tracks sales at more than 50,000 retail outlets, total sales rose 8.3 percent to about $10.3 billion on Friday, the day after Thanksgiving, compared with $9.5 billion on the same day a year ago. ShopperTrak had expected an increase of no more than 4 percent to 5 percent. "This is a really strong number. ... You can't have a...
  • Wal-Mart profit up, expects good holiday (Stocks rally, oil drops; Dow up 300 plus)

    11/13/2007 12:52:36 PM PST · by NormsRevenge · 35 replies · 244+ views
    AP on Yahoo ^ | 11/13/07 | Marcus Kabel - ap
    BENTONVILLE, Ark. - A year after its worst holiday sales season ever, Wal-Mart Stores Inc. may rebound to have a good season after finding the right mix of merchandise and marketing to complement its return to a focus on low prices. A whiff of this already showed up when the nation's largest retailer posted third-quarter earnings Tuesday of $2.86 billion, an 8 percent rise that beat Wall Street expectations. The company earned 70 cents per share, up from 62 cents per share in the same period a year ago. The 70 cents includes an after-tax gain equal to 1 cent...
  • Bernanke affirms dollar as world's reserve asset (Has anyone seen my Recession?)

    11/09/2007 12:29:43 AM PST · by JohnHuang2 · 43 replies · 183+ views
    Washington Times ^ | 11/9/07 | By Patrice Hill
    Federal Reserve Chairman Ben S. Bernanke said yesterday the dollar remains the world's reserve currency and while its decline is raising oil prices and a threat of inflation, he doesn't expect it to seriously crimp the economy or consumer spending power. Continues...================================================================= Has anyone seen my Recession? If this "very bad" booming economy doesn't tank soon, liberals will all be on suicide watch, poor dears. A survey by the World Economic Forum ranked America's economy No. 1 for competitiveness and innovation, so liberals respond by moping about the subprime nonsense. These same liberal ninnies claimed the Soviet Union would bury...
  • Productivity Surges by 4.9 Percent Rate(Fastest Pace in 4 Years)

    11/07/2007 6:52:23 AM PST · by Toddsterpatriot · 40 replies · 53+ views
    Yahoo! Finance ^ | November 7, 2007 | Martin Crutsinger
    WASHINGTON (AP) -- Worker productivity surged in the summer at the fastest pace in four years while wage pressures eased. The Labor Department reported that productivity -- the amount of output per hour of work -- jumped at an annual rate of 4.9 percent in the July-September quarter. That was double the 2.2 percent rise in the second quarter and represented the fastest surge in worker efficiency since 2003. At the same time, wage pressures eased with unit labor costs dropping at an annual rate of 0.2 percent, the best showing in more than a year. Both outcomes were far...
  • The Media's Blackout On The Boom

    11/02/2007 8:35:36 PM PDT · by Kaslin · 4 replies · 109+ views
    IBD ^ | November 2, 2007
    Economy: It seems no matter how bad the news gets, the economy keeps outperforming expectations. Like the Terminator in the movie of the same name, it takes a tremendous beating but moves inexorably forward.Friday's employment report, showing a much-higher-than-expected increase of 166,000 in nonfarm payroll jobs, was only the latest in a spate of remarkable reports showing the economy's stunning resilience. Earlier this week, we discovered that, contrary to fears and forecasts of much slower growth in the third quarter, the U.S. economy in fact expanded at a 3.9% rate — even in the midst of a vicious housing downturn,...
  • Financial Charts They Don't Want You to See

    11/02/2007 8:13:34 PM PDT · by Professional · 88 replies · 154+ views
  • Bullish Data Tell The Real Story: Despite Gloom, More Bush Boom

    11/01/2007 5:41:25 PM PDT · by Kaslin · 23 replies · 89+ views
    IBD ^ | November 1, 2007 | Lawrence Kudlow
    If things are so bad, why are they so good? With all the gloom coming out of Wall Street, the Democrats on the campaign trail and the mainstream media, a remarkable thing just happened: Real gross domestic product, the best summary report of the American economy, came in at a breathtaking 3.9% annual rate for the third quarter. In fact, following the 3.8% growth rate for the second quarter, the U.S. economy has posted its strongest quarterly growth in four years. The economy actually appears to be speeding up, following the relatively sluggish performance of the prior 18 months. On...
  • Economy Logs Brisk 3.9 Percent Growth (Best Performance in 1 1/2 Years)

    10/31/2007 5:50:09 AM PDT · by Brilliant · 116 replies · 148+ views
    AP via Yahoo! ^ | 10/31/07 | Jeannine Aversa
    WASHINGTON (AP) -- The economy picked up speed in the summer, growing at a brisk 3.9 percent pace, the fastest in 1 1/2 years and an impressive performance even as a credit crunch plunged the housing market deeper into turmoil. The latest snapshot of the country's economic health, released by the Commerce Department on Wednesday, suggested that the economy is demonstrating much resilience and thus far holding up well to the strains in the housing and credit markets, which had intensified during the third quarter and rocked Wall Street. Individuals ratcheted up their spending. U.S. businesses sold more goods abroad...
  • Retail sales post strong gain in September, led by demand for autos

    10/12/2007 6:35:07 AM PDT · by Lazamataz · 17 replies · 327+ views
    CNBC ^ | 12 OCT 2007 | By MARTIN CRUTSINGER
    WASHINGTON - Retail sales posted a stronger-than-expected gain in September as a big jump in auto sales helped offset weak demand for clothing. The Commerce Department reported Friday that retail sales increased 0.6 percent September, compared to August. That was double the gain that economists had been expecting and was also in contrast to reports Thursday of sluggish demand from the nation's leading retail chains. The government data did show weakness at department stores and specialty clothing shops, where unusually warm weather dampened demand for fall clothing. In other news, the Labor Department reported that wholesale prices jumped by 1.1...
  • No Recession in Sight

    10/09/2007 4:57:34 AM PDT · by Brilliant · 15 replies · 500+ views
    WSJ ^ | October 9, 2007 | MICKEY D. LEVY
    Despite recent financial turmoil and a dismal housing market, there are key reasons why the economy will continue to expand, albeit at a modest pace, and not go into recession. Businesses are well poised to absorb a period of weaker product demand and are unlikely to significantly alter their hiring and investment behavior. Consumer spending is supported by rising incomes. Exports are strong. And monetary policy is consistent with sustained growth... Strong U.S. exports and less reliance on imports, reflecting healthy economies overseas and the weaker U.S. dollar, are boosting production and job creation here. During the housing boom years...
  • S&P 500 hits record on jobs report !

    10/05/2007 11:38:00 AM PDT · by SirLinksalot · 27 replies · 1,053+ views
    NEW YORK (Reuters) - Stocks advanced on Friday, sending the benchmark S&P 500 index (^SPX - News) to a record as a solid employment report rekindled optimism about the outlook for growth and profits. The prospect of continued strength in the economy boosted a broad range of equity sectors, including technology, basic materials, industrials, financials and consumer-oriented plays, such as retailers. Pharmaceutical shares also showed strength, with shares of Merck & Co (NYSE:MRK - News) among the top advancers in both the Dow and the S&P 500. "The unemployment report was a good report," said Stephen Carl, principal and head...
  • Jobs gains back on track

    10/05/2007 5:52:04 AM PDT · by Always Right · 30 replies · 569+ views
    Money.CNN ^ | 10-5-07 | Money
    Jobs report shows September gains in line with forecasts, while earlier job loss wiped away; unemployment rate up to 4.7%. October 5 2007: 8:40 AM EDT NEW YORK (CNNMoney.com) -- Job growth was back on track in September, according to a government report that showed both a solid gain in Americans with jobs in the month, and revised away the job loss reported a month earlier. U.S. payrolls showed a net gain of 110,000 workers in the month, according to the Labor Department report. That's roughly in line with the forecast of a 100,000 gain by economists surveyed by Briefing.com....
  • Consumer Spending Higher Than Expected

    09/28/2007 6:50:01 AM PDT · by Always Right · 11 replies · 98+ views
    AP - Yahoo ^ | 9-28-2007 | Martin Crutsinger
    Consumer Spending Posts Better-Than-Expected Gain While Inflation Eases WASHINGTON (AP) -- Consumers shrugged off a rash of bad news to spend more than expected in August while a key measure of inflation eased to the slowest pace in 3 1/2 years. The Commerce Department reported Friday that consumer spending rose by 0.6 percent in August, the best showing in four months and better than the 0.4 percent increase that had been expected. Incomes rose by 0.3 percent last month, slightly lower than had been expected. A closely watched gauge of inflation was up just 1.8 percent in August, compared to...
  • Jobless Claims Make Surprise Fall

    09/27/2007 10:56:50 AM PDT · by MNJohnnie · 14 replies · 73+ views
    Fox News ^ | 09-27-07 | Reuters via Fox News
    The number of laid-off workers filing claims for unemployment benefits fell to the lowest level in seven weeks, an unexpected sign of improvement for the jobs market. The Labor Department reported Thursday that new applications for unemployment benefits totaled 311,000 last week, a drop of 9,000 from the previous week. It marked the lowest level for jobless claims since July 28. The decline came as a surprise for economists who had been forecasting a rise in claims of around 6,000. The four-week average for claims, which smooths out some of the volatility, also showed an improvement, falling to 320,750 from...
  • US dollar

    09/26/2007 1:27:44 AM PDT · by bruinbirdman · 12 replies · 87+ views
    Can sentiment get any worse? As the dollar flirts with all-time lows on a trade-weighted basis, the smell of approaching capitulation is in the air. The bears have plenty of fodder. A need to rebalance the huge current account deficit has provided a solid long-term case for dollar weakness. The prop of higher-yielding dollars has been eroded by rising interest rates abroad and now pummelled by the Federal Reserve’s half-point cut. Meanwhile, the US slowdown is piling on the pain. Tuesday’s horrible housing data again raise the spectre of real estate acting as a significant drag on the US economy...
  • Unemployment Claims Make Surprise Drop

    09/20/2007 5:54:59 AM PDT · by Toddsterpatriot · 13 replies · 68+ views
    Yahoo! Finance ^ | September 20, 2007 | Martin Crutsinger
    Applications for Unemployment Benefits Show Unexpected Drop WASHINGTON (AP) -- The number of laid-off workers filing claims for unemployment benefits fell to the lowest level in seven weeks, an unexpected sign of improvement for the jobs market. The Labor Department reported Thursday that new applications for unemployment benefits totaled 311,000 last week, a drop of 9,000 from the previous week. It marked the lowest level for jobless claims since July 28. The decline came as a surprise for economists who had been forecasting a rise in claims of around 6,000. The four-week average for claims, which smooths out some of...
  • The State of Manufacturing in the U.S. [close your books--pop quiz]

    09/17/2007 8:29:25 AM PDT · by 1rudeboy · 15 replies · 327+ views
    Cafe Hayek ^ | September 15, 2007 | Don Boudreaux
    I have never believed that making things is inherently better -- inherently more likely to produce widespread prosperity, inherently more noble, inherently more meaningful -- than is the supplying of services.  And until I notice a widespread pattern of parents hoping that their children grow up to become factory workers rather than to become doctors, lawyers, and bank presidents, I'll continue to believe that, whether they know it or not, most Americans value jobs in the service sector pretty darn highly. Nevertheless, the state of manufacturing in the U.S. is quite strong.  To learn more, take this quiz: 1)    ...
  • Stocks Rise on Better-Than-Expected Reading on Jobless Claims

    09/13/2007 7:10:34 AM PDT · by Brilliant · 7 replies · 317+ views
    AP via Yahoo! ^ | September 13, 2007 | Lauren Villagran
    NEW YORK (AP) -- Stocks opened higher Thursday after fewer-than-expected workers sought unemployment benefits last week and on a possible agreement between automakers and workers over health care costs. The Dow Jones industrial average rose more than 100 points. The Labor Department reported claims for unemployment benefits rose by 4,000 last week to 319,000 -- the sixth increase in seven weeks -- but the number was less than the 325,000 claims analysts expected. Low unemployment, at 4.6 percent, has been one of the economy's strengths. Shares of General Motors Corp. jumped sharply after The Wall Street Journal reported that UAW...
  • Productivity Grows at Faster Pace

    09/06/2007 6:07:22 AM PDT · by Toddsterpatriot · 9 replies · 305+ views
    Yahoo! Finance ^ | September 6, 2007 | Martin Crutsinger
    Worker Productivity Rebounds, Growing at the Fastest Pace in Nearly Two Years WASHINGTON (AP) -- Worker productivity rebounded, growing at the fastest pace in nearly two years, while wage pressures eased sharply in the spring -- developments that should reduce inflation worries. The Labor Department reported Thursday that productivity, the amount of output per hour of work, jumped to an annual growth rate of 2.6 percent in the April-June quarter, even better than the 1.8 percent increase that was originally reported. Wage pressures, as measured by unit labor costs, slowed to an annual growth rate of 1.4 percent, slower than...
  • Strong Economy, Weak Housing Sector

    09/04/2007 8:24:09 AM PDT · by NaturalGorilla · 8 replies · 556+ views
    A strong economy with a weak housing sector is the picture painted by economic data released today. According to the Commerce Department, U.S. construction spending fell in July as outlays for housing plunged. Construction declined by 0.4 percent. The decline followed a 0.1 percent gain in June. Meanwhile, economic activity in the manufacturing sector expanded in August for the seventh consecutive month, while the overall economy grew for the 70th consecutive month...