Blog
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GDP Rises 1.7%; Why That’s Horrible
The US economy grew 1.7% last quarter, the Commerce Department announced today , which is a lot better than the 1% analysts expected. "It is what markets and the journalists who write about them like to call a 'huge beat,'" writes Neil Irwin at the Washington Post , before adding,... Go to Source Author: Kevin Spak
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Jobless Rate Holds at 7.6%
Expectations were slightly upended with today's release of the June jobs report: Most predictions had the unemployment rate ticking down from 7.6% to 7.5%, with somewhere in the neighborhood of 160,000 jobs created. That latter figure turned out to be 195,000 jobs—and yet the jobless... Go to Source Author: Kate Seamons
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Eurozone Joblessness Hits New High
Unemployment across the 17 European Union countries that use the euro hit another all-time high in May, official data showed today. Eurostat, the EU's statistics office, said the eurozone's unemployment rate rose 0.1 percentage point in May to 12.1%. April's unemployment rate was initially estimated to be 12.... Go to Source Author:
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Dear DC: 7.6% Unemployment Is Not OK
Once upon a time, back before the financial crisis, Americans had certain expectations for their economy. "Normal, back then, meant an economy adding a million or more jobs a year," and an unemployment rate "not much above 5%," recalls Paul Krugman at the New York Times . Now, Washington is making... Go to Source Author: Kevin Spak
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Unemployment Ticks Up to 7.6%
The unemployment rate ticked up a notch in May: It had been expected to remain at 7.5% , but instead went up to 7.6%, the Wall Street Journal reports. But, the AP notes, that's because more people are looking for work, which is a good thing. And while 169,... Go to Source Author: Evann Gastaldo
