Summary Box: Rising pink slips the biggest obstacle to a lasting economic recoveryOctober 2nd, 2009 Summary Box: Another cruel month for jobseekersRISING PINK SLIPS: Employers cut 263,000 jobs in September, after a reduction of 201,000 in August. Even though the economy is in a recovery, companies are still sticking with cost cutting.
Summary Box: Jobs, manufacturing data show recovery off to bumpy start; modest rebound likelyOctober 1st, 2009 Summary Box: Jobs, manufacturing data disappointCONSUMERS: Consumer spending surged 1.3 percent in August, due partly to the now-ended Cash for Clunkers program. But incomes posted a lackluster 0.2 percent gain, and the number of newly laid-off workers rose more than expected to 551,000 last week.
Summary Box: Bumpy recovery expected as 2 economic reports come in lower than expectedSeptember 25th, 2009 Summary Box: Durable goods, homes data disappointDISAPPOINTING REPORTS: Orders for autos, appliances and other goods that are expected to last at least three years dropped 2.4 percent in August, defying economists' estimates of a 0.5 percent gain. Sales of new homes inched up 0.7 percent, also less than forecast.
Summary Box: US households see wealth grow for first time in nearly 2 yearsSeptember 17th, 2009 Summary Box: Net worth grew in springWHAT HAPPENED? Americans got wealthier. Household net worth grew in the second quarter for the first time in nearly two years, a Federal Reserve report showed.
Summary Box: New jobless claims dip less than expected, weak labor market may hinder recoverySeptember 3rd, 2009 Summary Box: Jobless claims dip less than expectedJOBLESS CLAIMS ELEVATED: The Labor Department said the number of laid-off workers applying for benefits dipped to 570,000 from an upwardly revised 574,000 the previous week. The number of Americans continuing to receive benefits rose unexpectedly to 6.23 million.
Summary Box: Productivity, factory orders increase in latest hopeful signs of recession's endSeptember 2nd, 2009 Summary Box: Productivity, factory orders riseMORE STRONG NUMBERS: Productivity in the second quarter posted its best showing since 2003, while cost-cutting by companies pushed labor costs down by the most in nine years. A separate report showed factory orders climbed in July, the fifth gain in six months.
Summary Box: Plunge in GDP slows in spring while jobless claims dip slightly last weekAugust 27th, 2009 Summary Box: Economists encouraged by GDP activityECONOMY SHRINKS: The gross domestic product, the total output of goods and services, dropped at an annual rate of 1 percent in the April-June quarter. The number of newly laid-off workers filing for unemployment benefits dropped slightly to 570,000 last week.
Summary Box: New home sales surge 9.6 percent in July in sign of economic recoveryAugust 26th, 2009 Summary Box: New home sales riseWHAT HAPPENED?: Sales of new U.S. homes rose 9.6 percent last month, as first-time homebuyers seized on a tax credit that covers 10 percent of the home price, up to $8,000.
Summary Box: Bernanke sees economy nearing a recovery, but financial problems persistAugust 21st, 2009 Summary Box: Bernanke sees economy near recoveryWHAT HAPPENED?: Federal Reserve Chairman Ben Bernanke offered his most optimistic view on the economy since the financial crisis struck. He said there's a good chance the economy will start growing again soon.
Summary Box: Weak job market could dampen consumer spending and hamper recoveryAugust 21st, 2009 Summary Box: Jobless claims bad sign for recoveryWHAT HAPPENED?: New jobless claims rose for the second straight week, disappointing analysts who were expecting a drop. At the same time, an index of leading economic indicators and a regional manufacturing index rose, providing more evidence that the economy may be recovering.
Summary Box: Consumer prices down over past year by biggest amount in nearly 6 decadesAugust 14th, 2009 Summary Box: Consumer inflation a no-show in JulyWHAT HAPPENED?: Consumer prices were unchanged in July, and over the past 12 months they have fallen 2.1 percent — the sharpest annual decline since a similar drop in the period ending in January 1950. WHAT DOES IT MEAN?: The recession and falling energy prices made inflation nonexistent — welcome news for consumers struggling with high unemployment, diminished savings and falling home values.
US recession may be easing, but job market weakAugust 1st, 2009 WASHINGTON - The American economy may be heading out of the woods with new government numbers showing signs of easing recession laying the groundwork for growth in the months ahead. But the job market still remains weak with working people haunted by fear of layoffs.
World beginning to pull out of recession, says IMFJuly 8th, 2009 WASHINGTON - The world is beginning to pull out of its first recession since World War II, the International Monetary Fund said Wednesday. In an updated economic forecast, the IMF said the global economy was already stabilising, the financial crisis has eased and the recession will end in the second half of this year.
Obama promises more than 600,000 stimulus jobs; Cabinet questions spending and job creationJune 8th, 2009 Obama promises more than 600,000 stimulus jobsWASHINGTON — President Barack Obama says the United States remains in a deep recession that will take considerable time to escape. Obama met at the White House with his top administration officials on Monday to hear an update on his $787 billion spending plan.
Britain's manufacturing recession eased in May for third month running, survey findsJune 1st, 2009 Britain's manufacturing recession eased in MayLONDON — The recession in Britain's manufacturing sector eased for the third month running in May, a closely-watched survey found Monday, stoking hopes that the wider economy may start to recover in the second half of the year. In its monthly survey of the sector, the Chartered Institute of Purchasing and Supply said its purchasing managers index — a broad gauge of activity — rose for the third month running to 45.4 in May from 43.1 in April.
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