Stocks rose in light volume Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.
Trading volume was thin ahead of the Thanksgiving holiday. Light volume can exacerbate swings in the market.
The Labor Department said new claims for unemployment insurance fell by 35,000 last [...]
Posts Tagged ‘unemployment’
Stocks rise after slew of economic reports
November 25th, 2009 by Financial Writer
Tags: home sales, investors, stocks, thanksgiving holiday, unemployment
more...World Bank warns unemployment threatens US economy
November 11th, 2009 by Financial Writer
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.2 percent in October, will likely remain elevated in 2010.
“You’re going to [...]
Tags: business investment, loans, mortgages, recession, unemployment, us economy, world bank
U.S. consumer sentiment dips in Oct: survey
October 30th, 2009 by Financial Writer
U.S. consumer sentiment slipped this month as Americans fretted about personal finances and focused on paying down debt, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its final index of sentiment for October slipped to 70.6 from 73.5 in September.
In spite of the decline, sentiment remained well above where it was [...]
Tags: Debt, finances, inflation, unemployment
Economy grows in 3Q, signals end of recession
October 29th, 2009 by Financial Writer
The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
The Commerce Department’s report Thursday delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has [...]
Tags: businesses, consumers, economy, recession, unemployment
Stocks trade mixed on uneven profit, economic data
October 22nd, 2009 by Financial Writer
Stocks zigzagged Thursday as investors sorted through a disappointing reading on the job market and a pile of uneven earnings reports.
The modest moves came after a late-day slide pushed major indexes lower on Wednesday. Lingering concerns over whether investors had been too optimistic about an economic rebound fed into the drop. Overseas markets fell as [...]
Tags: economic, economists, economy, investors, unemployment
Dollar falls to 14-month euro low
October 15th, 2009 by Financial Writer
The dollar hit a 14-month low against the euro Thursday on fears that US interest rates would remain super-low for a long time and as a stock market rally sparked appetite for riskier assets, traders said.
At 0615 GMT, the European single currency reached 1.4968 dollars, the highest level since August 2008. The euro later pulled [...]
Tags: borrowing costs, dollar, investors, recession, unemployment
Investors brace for a rocky ride
October 5th, 2009 by Financial Writer
The stock advance has hit some resistance in the last two weeks and it’s only going to get tougher as the third quarter reporting period gets underway.
Since hitting rally highs nearly two weeks ago, the broad S&P 500 index has lost 4.3% as investors have sorted through a spate of manufacturing, consumer and jobs reports [...]
Tags: employers, investors, monetary, recession, unemployment
Bad news: Jobs market getting worse
October 2nd, 2009 by Financial Writer
Employers cut more jobs from their payrolls in September and the unemployment rate hit another 26-year high, as the long-battered U.S. labor market took an unexpected turn for the worse, according to a government report Friday.
The Labor Department said there was a net loss of 263,000 jobs in the month, up from a revised loss [...]
Tags: economists, employers, jobs, unemployment
unemployment will peak at 9.3%
August 25th, 2009 by Financial Writer
In the first quarter of this year, economists at the Conference Board of Canada began to revise down their economic estimates. In October last year, they had predicted that Canada would avoid a recession all together.
Chief economist Glen Hodgson admitted Friday that the board, using a mathematical model to produce its forecasts, had been not [...]
Tags: Canada, economic estimates, unemployment
Dangerous Jobs Suddenly Look Appealing In Recession
August 7th, 2009 by Financial Writer
Some of the dirtiest, smelliest, most dangerous jobs are suddenly looking a lot more appealing in this economy.
People who have been out of work for months are lining up for jobs at places they once considered unthinkable: slaughterhouses, sewage plants, prisons. “I have to just shut my mouth because I can’t do anything about it,” [...]
Tags: Dangerous Jobs, recession, unemployment