Weekly Economic Update: November 1-5, 2010
Overview: The economy added 151,000 jobs in October as the unemployment rate remained unchanged at 9.6%. The Fed held constant its target fed funds rate at 0.0%-0.25% and announced a $600 billion Treasury purchase plan. Personal income fell 0.1% in September as spending rose 0.2%. The ISM index ...
Employment rises by 151,000 in October; unemployment rate unchanged at 9.6%
October Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for October (pdf summary available at http://www.bls.gov/news.release/pdf/empsit.pdf). Highlights of the report:
Fed Keeps 0.0%-0.25% Fed Funds “Target Range”
The Federal Reserve’s monetary policy making committee (the Federal Open Market Committee – FOMC) decided today to keep its target overnight interest rate (the “federal funds rate”) in a target range of 0% to 0.25%.
Weekly Economic Update: October 25-29, 2010
Overview: GDP grew at an annual rate of 2.0% in the 3rd quarter. Existing home sales rose 10.0% in September; new home sales rose 6.6%. The Case-Shiller index declined 0.2% in August. Durable orders rose 3.3% in September. Initial jobless claims fell by 21,000 to a level of 434,000 for the week...
Advance Estimate Shows GDP Grew at a Real, Annualized Rate of 2.0% in the 3rd Quarter
The Bureau of Economic Analysis (BEA) released its advance estimate of growth in the inflation-adjusted (“real”) gross domestic product (GDP) for the 3rd quarter of 2010 According to the advance estimate, annualized GDP growth in the 3rd quarter was 2.0%. Growth in the 2nd quarter was 1.7%, and...
Obamanopoly
IMF Research Shows the Type of Fiscal Consolidation Matters for Economic Growth
Fiscal Consolidation = Short-Term Contraction, Long-Term Expansion Sparked by rising sovereign default risks and mounting debts across the globe, many countries are confronting serious calls for fiscal consolidation. Such consolidations, which take the form of tax increases or spending cuts, may...
Weekly Economic Update: October 18-22, 2010
Overview: Industrial production fell 0.2% in September. Housing starts edged up 0.3% in September while building permits fell 5.6%. Initial jobless claims fell by 23,000 to a level of 452,000 for the week ended 10/16.
Still No Correlation between Funding and the Unemployed
On Friday, October 8th, the Treasury Department announced the State Small Business Credit Initiative (SSBCI), a new state-by-state funding allocation to support $15 billion in small business lending aimed at helping entrepreneurs obtain credit to hire new workers and expand their businesses. The fo...
