Economy sheds 36,000 jobs, weather impact unclear
By Lucia Mutikani
WASHINGTON (Reuters) – U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 percent, bolstering views the labor market was on the brink of creating jobs.
The Labor Department said on Friday it was unclear how the severe snowstorms, which hit much of the country last [...]
Housing Starts Post Sharp Rebound
WASHINGTON (Reuters) – Housing starts rebounded more strongly than expected to their highest level in six months in January, while permits fell slightly less than forecast, pointing a mild housing market recovery.
The Commerce Department said on Wednesday housing starts increased 2.8 percent to a seasonally adjusted annual rate of 591,000 units, reversing the prior month’s [...]
In 48 States, More Jobs Were Lost Than “Created or Saved”
When Barack Obama promised to ease the pain of the latest recession through his “stimulus” plan, many were wary. Later, the President started to skew the results through spin phrases such as jobs being “created or saved.” At that point even more were convinced the results were diminutive at best.
Recently, Veronique de Rugy (of Reason.com) [...]
More Americans Hungry, Homeless on Heels of Recession
Even during a “change” administration, more and more Americans are becoming homeless and going hungry. The recession and other factors sparked a jump among those seeking hunger assistance. According to a new report, 26% are in need – the highest since 1991. Unemployment, lack of insurance and a skyrocketing cost of living were all cited [...]
Elmendorf: “Country has Not Yet Seen the Worst of Joblessness”
is reporting CBO director, Douglas Elmendorf, says the countries jobless rate will get worse before it gets better.
CBO Director Elmendorf said today the country has not yet seen the worst of joblessness, despite some encouraging signs of economic growth.
Speaking at the American Association for Budget and Program Analysis’ fall conference, Elmendorf said the CBO [...]
State Finance Directors Warn of More Trouble Ahead
From the Wall Street Journal
Michigan and California are likely to face a fresh round of budget woes when federal stimulus funds used as a fiscal crutch dry up, finance directors for the states said Friday.
Short-term budget gaps have battered states as revenues plummeted during the recession. Aided by about $250 billion in funds from the [...]
Strings attached to stimulus dollars for schools
From
The Obama administration is ready to hand out more stimulus dollars for schools, but this time, strings are attached.Education Secretary Arne Duncan said another $11.5 billion is available to states, which have already received more than $67 billion.
Duncan said the administration wanted to distribute most of the money quickly to bolster state budgets that [...]
