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03 Feb 2012 08:43

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Biz: Jobs report: Economy knocks down unemployment expectations big time

  • 243,000 number of jobs added in January, according to the Bureau of Labor Statistics’ monthly report
  • 8.3% the current unemployment rate, which is like, way lower than it’s been in a long time source
  • » Beating expectations handily: Many experts were expecting an increase in jobs, but not one this high. This is not to say we don’t have a long way to go, just that this is a very good number, especially for the time of year, when the assumption is that seasonal jobs are ending. Even better: The economy added 200,000 more jobs last year than first thought. Sounds to us like things are starting to look up. Read the full report here.
Posted by Ernie Smith • 0 Comments • Permalink

29 Jul 2011 12:50

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Biz: GDP growth figures: Another crappy quarter of crappy results

  • 1.3% the rate of GDP growth the economy showed in its second quarter — which is pretty lame, by the way
  • 1.8% the projected rate economists projected in the second quarter; yeah, we missed that source
  • » One word — anemic. On top of all this drama, the rates for GDP growth in the first quarter was projected down to an even lower 0.4 percent growth. While this does not bode well for our recovery, it doesn’t mean we’ll necessarily have a double-dip. It just increases the chances of one.
Posted by Ernie Smith • 0 Comments • Permalink

22 Dec 2010 10:17

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Biz: Revised numbers: GDP improves handily, but not fast enough

  • 2.6% third-quarter boost; good, but not good enough source
  • » What is “good enough,” anyway?: We’ll leave this assessment to someone who knows a little more about banking. “Growth really needs to be closer to 4% for a couple of years to bring down the unemployment rate,” said Mark Vitner, senior economist at Wells Fargo. So, in other words, we’re getting there, but this isn’t cooking with gas. This is the pilot light on the oven staying out for an extended period. The economy needs a spark.
Posted by Ernie Smith • 0 Comments • Permalink

23 Nov 2010 09:12

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Biz: U.S. economy growing, but not fast enough to spur job growth

  • 2.5% the amount the U.S. economy grew in the third quarter (that’s pretty good, actually)
  • 1.7% the amount the economy grew in the prior quarter (we improved; that’s even better!)
  • 3.5% the rate of growth that’s economists say we need to cut the unemployment rate (that’s bad) source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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