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March 13, 2012

Financial stress test: Mostly good news, but one bank had a major fail

  • good news On the occasion of a major stress test of the financial market, 15 of the 19 banks tested showed that they would hold up during a severe recession, while still paying off dividends and buying back stock.
  • bad news One of the banks that failed — Citigroup — screwed up so badly that they failed to meet a set of minimum standards for the stress tests. The company plans to resubmit for another test. source
20:14 // 2 years ago
January 8, 2012
I don’t blame him for the recession and for the decline, what I blame him for is having it going so long, going so deep.
Mitt Romney • Talking about how much blame Obama should get for the recession.
10:05 // 2 years ago
December 26, 2011

Japan having a “mancession”: Women bringing home the bacon

  • 5.4% the percentage of men that were unemployed in Japan as of 2010
  • 4.6% the percentage of unemployed women; that’s a role-reversal source

» Tough cultural conditions to blame: With a high pay gap between female and male workers (females make less), a switch from traditional manufacturing to service industries, an aging population, a slowing birth rate, and a move among Japanese couples to marry later, Japan is quickly facing a bit of a cultural shift in terms of who has a job and who doesn’t. By 2020, estimates say, the number of unemployed men vs. unemployed women could become even more pronounced.

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20:49 // 2 years ago
December 12, 2011

San Francisco’s new minimum wage sets the double-digit standard

  • $10.24 San Francisco’s new minimum wage source

» Happy New Year, indeed. Starting Jan. 1, San Francisco’s minimum hourly wage will jump above the $10 mark for the first time. That’s about $3 higher than the federal minimum wage and higher than anywhere else in the country, due to the fact that the progressive city ties its minimum wage to inflation and the quite-high cost of living in the area. But with wage hikes, various fees and the sagging economy, employers might have to start laying off workers again to keep up.

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23:31 // 2 years ago
September 30, 2011

Stock market suckage: A crappy quarter, put to bed by a crappy day

  • bad Today was not a good day for the stock market in general, with all three major indexes down more than two percent amid negative economic data from China, which raised fears that another economic slowdown was coming.
  • worse This is the final day of the quarter on Wall Street, and the results aren’t very good. The S&P, for example, lost more than 14 percent this quarter. Fears of an economic slowdown weighed on investors’ minds after the 2008 crisis. source
16:52 // 3 years ago
September 29, 2011

Here’s another good-sounding economic story … with a catch

  • 1.3% the increase in U.S. gross domestic product in the second quarter, based on updated final numbers
  • 0.3% the improvement in that number from the initial estimates from the April-to-June quarter source

» Such evocative language in the source story: But before you get too excited about those three-tenths of one percent, just keep in mind the text that AFP used here: “The better-than-expected figure is unlikely to have a major impact on confidence in the enfeebled US economy, but tints the backdrop in a slight less gloomy hue.”

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10:50 // 3 years ago
September 22, 2011
15:50 // 3 years ago
September 3, 2011
azspot:

Comparing Recessions and Recoveries: Job Changes

Perspective on what we’re dealing with, guys: “Horizontal axis shows months. Vertical axis shows the ratio of that month’s nonfarm payrolls to the nonfarm payrolls at the start of recession. Note: Because employment is a lagging indicator, the dates for these employment trends are not exactly synchronized with National Bureau of Economic Research’s official business cycle dates.”

azspot:

Comparing Recessions and Recoveries: Job Changes

Perspective on what we’re dealing with, guys: “Horizontal axis shows months. Vertical axis shows the ratio of that month’s nonfarm payrolls to the nonfarm payrolls at the start of recession. Note: Because employment is a lagging indicator, the dates for these employment trends are not exactly synchronized with National Bureau of Economic Research’s official business cycle dates.”

11:41 // 3 years ago
August 30, 2011
washingtonpoststyle:

Unemployment rate by county. Click here to interact. Source: Bureau of Labor Statistics. Graphic by Kat Downs, Mary Kate Cannistra and Nathaniel Vaughn Kelso.

A nice county-by-county unemployment map - not for the faint of heart, obviously.

washingtonpoststyle:

Unemployment rate by county. Click here to interact. Source: Bureau of Labor Statistics. Graphic by Kat Downs, Mary Kate Cannistra and Nathaniel Vaughn Kelso.

A nice county-by-county unemployment map - not for the faint of heart, obviously.

16:34 // 3 years ago
August 4, 2011

Amid negative economic data, stock market having a really crappy day

  • 350+point dip in the Dow at one point today (ouch) source

» It’s becoming more and more apparent that we might be heading for a double-dip recession here. The Dow fell for eight days straight, only ending the losing streak yesterday — but it could fall steeply today. The new jobless numbers are mostly to blame for the weak market. There were 400,000 new unemployment claims in the week that ended July 30. That, in addition to a spreading debt crisis in Europe, has been enough to convince investors that the U.S. economy isn’t in a great spot right now, and it’s hurting our stock market bad.

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14:20 // 3 years ago