Democrat, Liberal, Obama, Oops, Economy
Friday, August 20, 2010: More people filed new claims for unemployment benefits last week than at any time since November, providing additional evidence that the economic recovery has stalled and turning up the reelection pressure on incumbents.
Democrat, Liberal, Obama, Oops, Economy
PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in September -- up sharply from 9.3% in August and 8.9% in July. Much of this increase came during the second half of the month -- the unemployment rate was 9.4% in mid-September -- and therefore is unlikely to be picked up in the government's unemployment report on Friday.
Obama, Oops, Economy
NEW YORK (Reuters) - Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.
Obama, Oops, Economy
NEW YORK (Reuters) - Consumer sentiment unexpectedly worsened in early September to its weakest level in more than a year, as distress over jobs and finances intensified among upper-income families, a survey released on Friday showed.
Obama, Oops, Economy
The poverty rate, at 14.3 percent of Americans, jumped to the highest level since 1994. Foreclosure listing firm RealtyTrac Inc. reported that home repossessions jumped 25 percent last month from a year earlier.
Obama, Oops, Economy
Thursday, September 16, 2010; 3:08 PM
One in seven Americans is living in poverty, the highest number in the half-century that the government has kept such statistics, the Census Bureau announced Thursday.
Obama, Oops, Economy
"We are confident we are moving in the right direction but we want to make sure this economy" is getting even stronger, Obama said on Friday.
Obama, Oops, Economy
With less than an hour before President Obama's scheduled speech, 75 seats remained empty in the recreation center at Cuyahoga Community College's Western Campus.
So organizers went around campus and recruited more students to fill the seats.
Obama, Oops, Economy
Whatever happened to recovery summer?
This was supposed to be the season the economy heated up, thanks to a wave of public works projects, funded by the government's stimulus program. But summer is coming to an end, and the recovery has not taken root. (The Labor Department on Friday reported a slight rise in the unemployment rate to 9.6 percent in August as more people were looking for work.)
Obama, Oops, Economy
The number of unemployed persons (14.9 million) and the unemployment rate
(9.6 percent) were little changed in August. From May through August, the
jobless rate remained in the range of 9.5 to 9.7 percent. (See table A-1.)
Obama, Oops, Economy
Romer admitted that her original prediction of unemployment not exceeding 8 percent if Congress passed the $787 billion Recovery Act was “so far off.”
Obama, Oops, Economy
U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.
Obama, Oops, Economy
MYFOXNY.COM - If you think you've been seeing more people sleep on city streets, statistics back up the perception. The homeless population living on New York City streets has gone up 50 percent in the past year, according to city statistics reported by the HellsKitchenLife.com blog.
Obama, Oops, Economy
The S&P 500 slid 4.7% for August, while the Nasdaq shed 6.2%. Small-capitalization stocks, seen as a leading indicator of the economy, took an even bigger hit in August. The Russell 2000 index of small-cap stocks posted its worst August in 12 years, down 7.5%.
Obama, Oops, Economy
The share of young people aged 16 to 24 who were employed this summer fell to 48.9 percent -- the lowest rate on record since 1948.
Obama, Oops, Economy
Public confidence in President Obama has hit a new low, according to the latest Washington Post-ABC News poll.
Obama, Oops, Economy
Factory activity in the U.S. Mid-Atlantic region unexpectedly contracted in August to its lowest level in more than a year, a survey showed on Thursday, heightening worries over the sustainability of the economic recovery.
Democrat, Liberal, Obama, Oops, Economy
Back in June we highlighted how May had seen the most negative fund flow out of U.S. stocks since during the crisis, based on the fund flow data of long term mutual funds tracked by the Investment Company Institute.
Obama, Oops, Economy
The U.S. economy faces difficult times ahead with chronic unemployment and slow manufacturing hurting the pace of recovery, the head of Congress' budget agency said on Thursday.
Obama, Oops, Economy
A local project that President Barack Obama cited during a visit Wednesday to Columbus as an example of how the federal stimulus package has worked isn't actually being funded with stimulus dollars.
Obama, Oops, Economy
Investors are finding little reason to buy. There are no reports due out that could offset Thursday's disappointing news that growth in the domestic economy continues to slow.
Democrat, Liberal, Obama, Oops, Economy
The number of unemployed persons (14.9 million) and the unemployment rate
(9.6 percent) were little changed in August. From May through August, the
jobless rate remained in the range of 9.5 to 9.7 percent. (See table A-1.)
Democrat, Liberal, Obama, Oops, Economy
Despite Vice President Joe Biden's April boast that administration stimulus spending would spur the economy to add a half-million jobs a month by now, initial unemployment claims jumped a half-million last week, the worst since last November, as national unemployment remains at 9.5% and the economy sheds 131,000 more jobs.
Democrat, Liberal, Obama, Oops, Economy
Despite Vice President Joe Biden's April boast that administration stimulus spending would spur the economy to add a half-million jobs a month by now, initial unemployment claims jumped a half-million last week, the worst since last November, as national unemployment remains at 9.5% and the economy sheds 131,000 more jobs.
Obama, Oops, Economy
August 19, 2010: The number of people applying for unemployment benefits last week hit the half million mark, a major surprise and a major disappointment to those who thought the economy was turning around.
Democrat, Liberal, Obama, Oops, Economy
August 20, 2010: The only number growing on the jobs front appears to be the number of people looking to get one. First-time jobless benefits claims rose by 12,000 last week to 500,000, a clear warning sign that the lackluster recovery may be losing steam and that the economy could be headed for a double-dip recession. It was the highest number of initial jobless claims filed since 509,000 in November. The news, coupled with a downbeat economic survey from the Philadelphia Federal Reserve, spread little cheer on Wall Street, where investors moved down the Dow Jones industrial average by 144.33, to close at 10,271.21.
Democrat, Liberal, Obama, Oops, Economy
19 Aug 2010: The Dow Jones closed down 1.39pc at 10,271.21 in New York. The broader S&P 500 and the technology rich Nasdaq both fell around 1.7pc.
European markets were also hit as the data reinforced fears about the scale of the US economic slowdown and a possible fall back into recession. London's FTSE 100 index of leading British shares closed down 1.7pc to 5211, with Germany's DAX and the CAC-40 in France losing 1.8pc and 2pc respectively. "This double-dip prospect for the US keeps coming up so any signs of concern here could again precipitate another wave of selling," said Will Hedden, sales trader at IG Index.
Democrat, Liberal, Obama, Oops, Economy
Fully 500,000 Americans filed new claims for government unemployment insurance last week, the highest number in nine months and a sign of persistent trouble in the job market. The Labor Department's jobless-claim numbers, which had been falling for much of 2009 and early this year, have been trending up in recent weeks.
Democrat, Liberal, Obama, Oops, Economy
Since then, however, the economy has fallen back to earth, and “Recovery Summer” looks more like a bad bet. Private sector job growth has fallen by two-thirds, and the unemployment rate is still at a sky-high 9.5 percent. And if the size of the U.S. workforce, as measured by the Labor Department, had stayed constant since April—instead of shrinking by a million—the unemployment rate would be 10.4 percent.
Democrat, Liberal, Obama, Oops, Economy
A new Labor Department report that shows an unexpected jump in jobless claims may be the death knell for the White House’s “recovery summer.” The Department of Labor announced seasonally adjusted applications for unemployment insurance increased to 500,000 last week, the highest level for the claims since mid-November.
Obama, Oops, Economy
Banks foreclosed on 102,134 properties in September, the first single month above the century mark, RealtyTrac said. There were 347,420 total foreclosure filings in September, 3 percent higher than August and 1 percent higher than a year earlier.
Obama, Oops, Economy
Foreclosures rose at an elevated rate for the second month in a row, according to RealtyTrac, with one in every 381 U.S. homes receiving a foreclosure filing.
Democrat, Liberal, Incompetence, Obama, Oops, Economy
US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.
Democrat, Editorial, Liberal, Obama, Oops, Economy
In the case of "Recovery Summer," we end it with unemployment almost as high -- 9.6 percent -- as it was one year ago, when it was 9.7 percent.
Obama, Oops, Economy
Toyota Motor Corp., General Motors Co. and Ford Motor Co., the three largest sellers of autos in the U.S., reported bigger sales declines than analysts projected as the industry posted its worst August in 28 years.
Democrat, Liberal, Obama, Oops, Economy
NEW YORK (CNNMoney.com) -- The government's list of troubled banks hit its highest level since 1993 during the second quarter, although the pace of growth continued to slow, according to a government report released Tuesday. The number of banks at risk of failing rose by 53 to 829, the Federal Deposit Insurance Corp. said in its quarterly survey of the nation's banking system. That increase marks the smallest rise since the first quarter of 2009.
Democrat, Liberal, Government, Incompetence, Obama, Oops, Economy, Debt
Sen. Michael Bennet’s recent appearance in Greeley, Colorado is sure to set political tongues wagging–Bennet is quoted as saying that though trillions of dollars of Federal debt has been incurred through spending since he was appointed to the Senate in January of 2009, “we have nothing to show for it”
Obama, Oops, Economy
Biden conceded that the economic recovery was not proceeding as fast as the administration had hoped, but claimed there was "no doubt we're moving in the right direction."
Democrat, Liberal, Obama, Oops, Economy
PRINCETON, NJ -- President Obama's job approval rating slipped to 43% for the week of Aug. 16-22, down one percentage point from the previous weekly low set a week ago.
Obama, Oops, Economy
The housing bears were right: existing home sales fell off a cliff in July. As my colleague Megan McArdle just noted, they sold at an annualized pace of 3.83 million, down by 27% versus June and 26% below July 2009, according to the National Association of Realtors.
Obama, Oops, Economy
8/13/2010 6:10:27 PM ET
The outlook for the U.S. economy just went from half-full to half-empty.
The latest economic data out this week confirmed a gloomier forecast issued by the Federal Reserve Tuesday after its regular rate-setting meeting. That has renewed fears of a so-called “double-dip” recession that are weighing on investors, spooking consumers and slowing businesses from hiring.
Obama, Oops, Economy
"Today's news on the economy has been nothing but awful," Paul Ashworth, an economist at Capital Economics, wrote in a note to clients. "The recovery is clearly slowing."
Obama, Oops, Economy
The economic reports, on business inventories, retail sales and the Consumer Price Index, were in much the same vein as those that Wall Street had been seeing throughout the week, including trade deficit figures that raised the likelihood that the estimate for second-quarter growth of 2.4 percent would be revised sharply lower.
Democrat, Liberal, Incompetence, Obama, Oops, Economy
Date: Thursday Aug. 19, 2010 7:48 PM ET WASHINGTON — Layoffs are back, and that's bad news for the fragile economic recovery. New applications for unemployment benefits hit a nine-month high last week — a spike that suggests private employers may shed jobs this month for the first time this year. Workers are losing construction jobs in Georgia and manufacturing jobs in Indiana. Some of the layoffs are coming as stimulus money dries up and public works projects come to a halt. Government employees are being let go, too, as states and cities grapple with budget crises.
Democrat, Liberal, Obama, Oops, Economy
The latest unemployment figures released by the US Labor Department report that the number of people filing for unemployment benefits increased by an unexpectedly high figure of 500,000 during the week ending on the 14th of August 2010.