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January 26, 2011
We conclude this financial crisis was avoidable.
Report by the Financial Crisis Inquiry Commission • The panel’s report, charged with investigation and review of America’s cataclysmic economic crisis, was obtained by Reuters on Tuesday. It cites human error, action, and inaction as being to blame for the collapse. The report will be widely released on Thursday. source (viafollow)
14:30 // 3 years ago
January 24, 2011

One why the State of the Union should be about the economy

whyarethegoodurlsalreadytaken answered: If you were delivering the State of the Union, what would you say in it and why?

» We say: We think Obama’s right on the money with this one. We’d talk about doing more to build jobs and improving that anemic employment rate. He’s had two years for major initiatives. He needs to focus squarely on the economy tomorrow night. Fact of matter, now’s the time to get people back into the workforce. (It’s our Office Hours! Ask us a question!)

21:14 // 3 years ago
January 23, 2011
The NYT makes Rockford, Illinois look as depressed as possible
"Dear residents of Rockford, Illinois: This is The New York Times. We’re doing a photo feature on why your town is so depressed and lacking in jobs. (16 percent unemployment?! We need to do this story, stat!) We need to take photos of your citizens. None of you are allowed to smile. If you smile, we’re going to find someone else who looks plainer than you. OK? Thanks. We’ll send a photog from Manhattan to the Rust Belt on a private jet sometime next week. Remember. Plain. No smiles. Optimism is dead. Thanks.” source
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"Dear residents of Rockford, Illinois: This is The New York Times. We’re doing a photo feature on why your town is so depressed and lacking in jobs. (16 percent unemployment?! We need to do this story, stat!) We need to take photos of your citizens. None of you are allowed to smile. If you smile, we’re going to find someone else who looks plainer than you. OK? Thanks. We’ll send a photog from Manhattan to the Rust Belt on a private jet sometime next week. Remember. Plain. No smiles. Optimism is dead. Thanks.” source

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11:07 // 3 years ago
January 22, 2011
My number one focus is going to be making sure that we are competitive, that we are growing, and we are creating jobs not just now but well into the future.
President Barack Obama • Revealing to supporters through his Organizing for America grassroots thingy that he would be focusing on jobs during the State of the Union this time around. “We’re up to it, as long as we come together as a people - Republicans, Democrats, Independents - as long as we focus on what binds us together as a people,” he said. Odds are that Tea Partier Michele Bachmann will pop a hole in that optimism for bipartisanship by the second minute of her response-to-the-response SOTU response, which, based on her long track record, will most assuredly be loaded with lies. So much for that hope, Obama. source (viafollow)
19:16 // 3 years ago
January 13, 2011

With 2011 in full swing, so are fresh jobless claims

  • 35,000 the rise in jobless claims last week source
9:50 // 3 years ago
January 10, 2011
I haven’t gotten any questions yet today like, ‘Will you be here next year?’
Chrysler chief executive Sergio Marchionne • On the company’s slow bounceback. Chrysler hasn’t had the dramatic turnaround that Ford and GM have had since the nadir of the financial crisis, but they appear to be making headway with a new generation of vehicles – particularly the newest Jeep Grand Cherokee, which has done well despite the fact that SUVs have fallen out of fashion lately. The company’s collaboration with Fiat has also helped buoy Chrysler. So, how about paying back those loans from the bailout and other sources? “We are going to repay one hundred cents on every dollar of loans we received,” Marchionne said. source (viafollow)
21:21 // 3 years ago
January 7, 2011

Unemployment dips in December, but job growth only moderate

  • 103,000 the increase in jobs last month – decent but lower than expected (and mostly private job growth)
  • 9.4% the decrease in unemployment, which is down nearly half a percentage point source
9:35 // 3 years ago
January 5, 2011

Could unemployment rate drop? Key indicator looks very positive

  • 297k new payrolls among private employers in December, according to payroll processor ADP, which tracks stuff like this
  • 100k new payrolls were expected in the December survey, so this is an extremely positive sign for economic growth
  • eleven straight months of growth for private-sector payrolls … but will unemployment drop? (those numbers will come Friday) source
11:23 // 3 years ago
December 30, 2010

New jobless claims back down to pre-financial-crisis numbers

  • 388,000 the number of new jobless claims last week (the week of Christmas), the lowest it’s been in ages
  • 07/12/08 the last time new jobless claims dipped below 400,000 in a week - in the midst of the housing crisis source

» Is this a corner turned? It’s important to note that while weekly jobless claims figures aren’t exactly the end-all-be-all of unemployment statistics, the number has been headed in downward direction for weeks and is nearly 250,000 less than its peak in March 2009. While the numbers are seasonally adjusted, the Christmas holiday can have an effect on them, so it’s good to keep an eye on this number to see where it goes after the first of the year.

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12:10 // 3 years ago
December 28, 2010

Consumers bought more this Christmas, but not feeling confident

  • good Consumers bought more stuff in the week before Christmas than they did a year earlier – a solid 4.8-percent jump. It’s a great holiday season overall for retail.
  • bad However, consumer confidence managed to fall in December, suggesting that we still in fact have a long way to go before we’re back to normal, guys. source
10:57 // 3 years ago