Post by Small Biz Owner on Sept 15, 2011 8:53:38 GMT -5
Unemployment unexpected rises.
Jobless claims climbed by 11,000 to 428,000 in the week ended Sept. 10 that included the Labor Day holiday, figures from the Labor Department showed today in Washington. Economists surveyed by Bloomberg News projected a drop in claims to 411,000, according to the median forecast.
4 week moving trend now rising again.
Four-Week Average Today’s data showed the four-week moving average, a less- volatile measure than the weekly figures, climbed to 419,500 last week from 415,500.
" The recession will end when the situation in Europe is resolved (one way or another) and when the housing mess starts to resolve. "
Now I don't understand this. I can see where investors are concerned about Europe, but how does this really affect our unemployment here in the US. The big multinationals are holding on to major cash reserves, but are they really looking at Europe before putting that into employees here in the US?
Also, the housing "bubble" was based on inflated equity and so many using that to fund their spending. I don't see where that is ever going to come back. Is a normalized housing market really going to generate enough growth to lower unemployment?
Post by Small Biz Owner on Sept 15, 2011 10:21:25 GMT -5
Is a normalized housing market really going to generate enough growth to lower unemployment?
In time I think it will. But first they must still work through all this....
BusinessWeek - Dan Levy - ý1 hour agoý Sept. 15 (Bloomberg) -- Default notices sent to delinquent US homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process after almost a year of delays
And this ....
For sale or rent by distressed owner: 248,000 homes. That's how many residential properties the U.S. government now has in its possession, the result of record numbers of people defaulting on government-backed mortgages. Washington is sitting on nearly a third of the nation's 800,000 foreclosed homes.
Post by blackcard on Sept 19, 2011 18:44:13 GMT -5
Add two more to the count of newly unemployed from downsizing. My cousin, and one of my best GF's. Both got the Axe last Friday. But I understand Friday is the day they are supposed to let you go. Maybe I will start taking every Friday off.