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The other problem with these numbers is that in order to file for jobless benefits you must have had a job for a continual (and substantial) period of time - typically four quarters (one year) prior to being laid off. Therefore, "re-layoffs" don't..
Today's announcement by the BLS that it decided to flat out estimate nearly a third of all initial jobless claims (courtesy of several large outliers) due to a "clerical holiday" which resulted in a major beat to estimates, caught many off guard...
The BLS has announced that as a result of the Labor Day weekend, 9 states (among which the biggest one California) did not report initial claims data to the bean counters, so instead the government had to "estimate" what the data would have been...
We're in the early stages of a deepening depression to last years
Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists. The latest Blue Chip Economic Indicators report on Thursday said the weaker outlook for second-half 20
This week’s proposals by the Obama administration to deal with the persistent economic crisis will be, as with previous plans that involved trillions of taxpayer dollars, little more than salt in the wounds.
Consumers have had enough of high interest rates on credit cards but its a case of one plastic for another. Bloomberg reports Cardholders Prefer Debit as Credit-Card Use Falls
The financial crisis that rocked the world in 2008 and still reverberates today was "due at least in part" to the Iraq war, which also made it more difficult for the government to react when economic problems happened, argue two prominent policy make
Turns out he is a banker. A hedge-funder formerly with Bear Stearns, Matt, 39, lost his last job some two years ago. He is a soft-spoken man who used to buy and sell companies, and today he has no qualms with the bread line. “There’s no stigma attach
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.2 percent from May, the U.S. Department of Agriculture said today in a statement on its website.
But the reason I won't short them is because the accounting is so bad it's not possible to get your arms around what's going on. Back in the mania I tended to avoid them because they were just financial black holes…
Starting from right now, however, as babyboomers go into retirement or start deligently (perhaps belatedly) saving for retirement, inflationary policy will cause much more pain than ever seen before.
The number of institutions has more than doubled since we started the list in early August 2009 - even with all the bank failures (failures are removed from the list). The number of assets is up 50 percent over the last year.
Ever get the feeling that the Bureau of Truth is not being completely truthful? Feel like the ADP is to the NFP like the ISM to the regional Fed Surveys, and as the surging Mfg ISM employment diffusion index is to the plunging Service ISM...
These numbers are approaching the dismal employment rates of the early 1980s, when the rate bottomed out at 57.1.
The ECRI Leading Indicator Index just came at -10.1%, a drop from last week's -9.9%, once again inflecting into double dip territory.
This seems to be a return to the mindset of the middle ages where only the clergy were allowed to read and interpret the bible and the laity were presumed incapable of comprehending the intricacies and subtle nuances of the faith.
Burger King Holdings Inc , the No. 2 U.S. fast-food chain, agreed to sell itself to investment firm 3G Capital for about $3.26 billion in a deal analysts said would give the restaurant breathing room to fix its business.
From the Land of Frankenstein - John Taylor Gatto on Prussia and compulsory public schools.
In times of crisis people seek strong leaders and simple solutions. But what if their solutions are identical to the mistakes that caused the very crisis? This is the story of the greatest economic crisis of our age, the one that awaits us. See video
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. The number of banks at risk of failing rose by 53 to 829, the Federal Deposit Insurance Corp. said in i
City officials in Half Moon Bay say the municipal budget is such a mess that it may make sense to disincorporate and turn the place over to San Mateo County. Digging out of budget holes may be harder than simply shutting things down.
Watching economists and media analysts react to breaking economic news is a bit like looking at a flock of pigeons flying over the New York skyline.
The makeover outlined Thursday will result in about 130 layoffs this fall, USA Today Publisher Dave Hunke told The Associated Press. That translates into a 9 percent reduction in USA Today's work force of 1,500 employees. Hunke didn't specify which d
For years, Americans have had their phone calls about credit card bills and broken cell phones handled by people in the Philippines or India. But American firms are starting to bring call centers back to the U.S. — and this time around, they are hiri
The comments by the chairman of the Federal Reserve came in his most eagerly awaited speech, for months, with markets growing increasingly concerned about the weak economy and chronically high unemployment.
Bernanke's Jackson Hole Speech - What % of Your Assets Is in Gold, Silver, Oil?
The solution is to jump start the housing market by changing foreclosure laws in such a way that it becomes attractive to bail out the foreclosed by harnessing their support. The current system has worked so long as foreclosures were always at aro
“I’m steadfast in my belief there’s going to be a double- dip in housing,” she said then. “You will see clearly that the banks are under-reserved when housing dips again.”
The Unofficial Problem Bank List grew by more than five percent this week as the FDIC released its enforcement actions for July 2010. This week, there were 28 additions and 5 removals.
