SubscribeAll Posts Tagged With: "US unemployment"
GDP Shrinks 6.3% in Q4, Q1 Outlook Not So Good
The U.S. economy contracted at a 6.3% annualized rate in the fourth quarter of 2008 – the sharpest decline in gross domestic product (GDP) in more than two decades, but still better than many analysts had expected.
The Bureau of Economic Analysis said last month that fourth-quarter GDP contracted at a 6.2% annual rate. Today’s (Thursday) revision, while negative, was smaller than the 6.7% decline forecast by economists surveyed by MarketWatch.
The most notable revision came from inventories, where the small increase in stockpiles originally reported was adjusted to show a small decline.
“The real change in private inventories subtracted 0.11 percentage…
27Mar2009 | Money Morning | 0 comments | ContinuedU.S. Unemployment May be a Bigger Problem Than Government Statistics Say
The dismal U.S. unemployment numbers have gotten more airtime recently than Jerry Springer.
And why not?
The numbers are mind-numbing.
- A total of 2.6 million jobs lost in 2008 – the most since World War II.
- A jobless rate that’s at 7.2% – and climbing.
- About 11 million people out of work.
As usual, however, the “official” numbers don’t tell the entire story.
"People say that they know how bad the economy is. But they don’t know how it feels to have the reality hit home," said Stu Schweitzer, global markets strategist at J.P. Morgan Chase & Co.’s Private Bank (JPM). "It’s…
26Jan2009 | Money Morning | 0 comments | ContinuedStocks Fall as ADP Report Says U.S. Shed 693,000 Jobs in December
The U.S. economy shed 693,000 jobs in December, a showing that was far worse than economists had expected and that may even have been the biggest monthly loss of jobs in more than 30 years, analysts said of a closely watched survey of business employment released yesterday (Tuesday).
The monthly ADP Employer Services (ADP) survey – which tracks private non-farm payroll employment – stunned economists, showing a surprising increase from the 476,000 jobs lost in November.
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The decline was the worst…
8Jan2009 | Money Morning | 0 comments | Continued
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