Weekly Economic Update: July 23-27, 2012
GDP grew at a real, annual pace of 1.5% in the 2nd quarter of 2012. New home sales fell 8.4% in June. Pending home sales were down 1.4% in June. Durable orders increase 1.6% in June. Initial jobless claims were down 35,000 to a level of 353,000 for the week ended 7/21.
Weekly Economic Update: July 16-20, 2012
Retail sales fell 0.5% in June. Industrial production was up 0.4% in June. The consumer price index was unchanged in June. Housing starts rose 6.9% in June while building permits declined 3.7%, and existing home sales fell 5.4%. Business inventories were up 0.3% in May. Initial jobless claims r...
Comparing Economic Recoveries
Since the recession ended three years ago, the economy has only grown by a total of 6.7%, less than half the average 15.2% of the other nine post-World War II recoveries and significantly less than the 18.5% the economy grew during the comparable period of the Reagan recovery.
Red Tape vs Small Business
Weekly Economic Update: July 9-13, 2012
Consumer credit increased at an annual rate of 8% to $2.57 trillion in May. The U.S. trade deficit narrowed 3.8% to $48.7 billion in May. Some FOMC members believe more monetary stimulus will be needed. The U.S. Treasury recorded a deficit of $59.7 billion in June. The topline PPI rose 0.1% while th...
Weekly Economic Update: July 2-6, 2012
The economy added 80,000 jobs in June as the unemployment rate held steady at 8.2%. The ISM index fell 3.8 points to 49.7 in June. The ISM services index was down 1.6 points to 52.1 in June. Factory orders were up 0.7% in May. Auto sales increased 2.1% in June. Initial jobless claims were down ...
Using White House Metrics, Obama Recovery Now Dead Last
The Obama Administration has been quick to extoll the fact that private sector payrolls have expanded for 28 consecutive months with 4.4 million jobs created – an increase of 4.1%. To make this claim they calculate “their success” by picking the recent low point for private sector employment that ...
Payroll Employment up 80,000; Unemployment Rate Unchanged at 8.2%
June Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on payroll employment and unemployment for June. The unemployment rate held steady at 8.2% in June. The number of long-term unemployed (those unemployed for 27 weeks or longer) was little changed at 5.4 mi...
