Economy Weekly
On Friday, the Commerce Department announced that the economy grew at two percent during the third quarter. “Consumers helped boost last quarter's economic growth with 2.6 percent growth in spending. That was better than the second quarter's 2.2 percent growth rate and marked the biggest quarterly increase since a 4.1 percent gain at the end of 2006 before the recession hit.” [Washington Post, 10/29/10]
“From the perspective of the taxpayers getting their money back, TARP has been a great success.” - Todd Petzel, chief investment officer at New York-based Offit Capital Advisors
A USA Today editorial argues that the Trouble Asset Relief Program and the Recovery Act should be judged as successes. “Of the $388 billion in TARP money that was spent, more than half has already been recovered, according to the latest Treasury Department report.
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
Weekly Economy and Recovery Act Highlights
According to the Department of Commerce, new home sales surged in June.
The Treasury Department reported that businesses have hired 4.5 million workers under a new program enacted as part of the HIRE Act, that provides tax breaks for hiring unemployed workers.
Today, the Labor Department reported that the private sector created 83,000 jobs in June and the unemployment rate dropped from 9.7% in May to 9.5% in June, the lowest level since July 2009.
The Labor Department reported that the “number of people filing new claims for unemployment insurance fell last week and large-scale layoffs for May hit the lowest level since the earliest days of the recession [April 2008],” both encouraging signs of our economic recovery.
This week, top economists predicted that the economy will continue to recover in the next two years.
The Department of Labor reported that the number of laid-off workers continuing to claim jobless benefits fell by the largest amount since December 2008,
Today, the Department of Labor released the unemployment report for May showing that the policies adopted by President Obama and the Democratic Congress continue to have the intended effect of creating jobs and growing the economy.
In positive news for the economy, new-home sales climbed 14.8% in April, the second month in a row that demand exceeded expectations.
In positive news for the economy, economic experts announced that we can expect to see the economy grow and the unemployment rate drop in the next year.
The Department of Labor reported that new claims for jobless benefits declined last week, another indication that the U.S. jobs market continues to show signs of improvement.
Today, the Department of Labor reported that the economy added 290,000 jobs, the fourth straight month of growth and largest gain in four years.
Today, the Department of Commerce reported that the economy (GDP) grew 3.2% in the first quarter of 2010, the third straight quarter of growth.
According to today’s report from the Department of Labor, the U.S. economy added 162,000 jobs, the largest one-month gain in 3 years.
