Jobs crisis may spark riots - New York City Mayor Bloomberg

Jobs crisis may spark riots - New York City Mayor Bloomberg
CNNMoney

Aaron Smith, On Friday September 16, 2011, 4:11 pm EDT

New York City Mayor Michael Bloomberg is worried that high U.S. unemployment could lead to the same kind of riots here that have swept through Europe and North Africa.

"You have a lot of kids graduating college, [who] can't find jobs," said Bloomberg, during his weekly radio show on Friday. "That's what happened in Cairo. That's what happened in Madrid. You don't want those kinds of riots here."

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http://finance.yahoo.com/news/Jobs-crisis-may-spark-riots-cnnm-1101518261.html?x=0

Fed takes spotlight as recession fears loom

Fed meets as weakening economy, debt downgrade and market turmoil fuel recession fears

Martin Crutsinger, AP Economics Writer, On Monday August 8, 2011, 3:52 pm EDT

WASHINGTON (AP) -- When it meets Tuesday, the Federal Reserve could signal what it can or will do to help the nation avoid another recession.

Since the Fed last met in June, Standard & Poor's has downgraded long-term U.S. debt, stock markets have plunged, Europe has struggled to contain its debt crisis and a range of indicators have shown the U.S. economy struggling to grow.

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http://finance.yahoo.com/news/Fed-takes-spotlight-as-apf-4187310779.html;_ylt=AnwIG_p6LuAIbaD64zd3N86iba9_;_ylu=X3oDMTFkc3A4ODBzBHBvcwM4BHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA2ZlZHRha2Vzc3BvdA--?x=0

Jobs: Worse than you think

By Chris Isidore @CNNMoney August 8, 2011: 3:50 PM ET

NEW YORK (CNNMoney) -- The U.S. labor force is shrinking, as more Americans are giving up hope.

Last month, only 58.1% of Americans age 16 and over were employed, a significant drop from before the recession and the lowest since 1983.

That's especially worrisome to economists, who say a steady increase in those dropping out of the work force and not being counted in the unemployment rate is disguising just how bad the labor market really is.

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http://money.cnn.com/2011/08/08/news/economy/unemployment_jobs/index.htm

Job creation: easier said than done

SFGate.com

Bottom Line - Andrew S. Ross

In a nutshell, the rise of emerging economies, such as China, has forever upset what the United States and the West thought was the permanent order of things. For example, middle-income manufacturing jobs, even in growth sectors such as high tech and pharmaceuticals, once the "exclusive purview" of the West, are shifting away dramatically. The shift constitutes "a permanent, irreversible change."

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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/08/07/BU9T1KJ3SB.DTL

Beneath jobs report surface lie some ugly truths

By Jeff Cox, CNBC.com

...According to a Bureau of Labor Statistics breakdown, there were 139,296,000 people working in July, compared to 139,334,000 the month before, or a drop of 38,000.

But the job creation number was positive and the unemployment rate went down, right? So how does that work?

Full story:
http://www.cnbc.com/id/44033486

Federal Reserve won't save stocks and economy -- The Buzz

CNN Money

Paul R. La Monica, On Thursday August 4, 2011, 3:36 pm EDT

News flash for harried traders! The Federal Reserve may have two mandates. But placating Wall Street isn't one of them.

Yes, stocks are continuing their, to quote Tom Petty, free fall out into nothing. The Dow was down more than 400 points Thursday afternoon. And yes, the economy seems to be losing steam -- especially the job market.

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http://finance.yahoo.com/news/Federal-Reserve-wont-save-cnnm-4024691109.html?x=0

Dow falls 512 in steepest decline since '08 crisis

Worst day for Wall Street since 2008 crisis: Dow falls 512 and investors flee for safety

David K. Randall, AP Business Writer, On Thursday August 4, 2011, 8:15 pm

NEW YORK (AP) -- Gripped by fear of a new recession, the stock market suffered its worst day Thursday since the financial crisis in the fall of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline.

The sell-off wiped out the Dow's remaining gains for 2011. It put the Dow and broader stock indexes into what investors call a correction -- down 10 percent from their highs in the spring.

Full story:
http://finance.yahoo.com/news/Dow-falls-512-in-steepest-apf-169769799.html?x=0

Manufacturing growth hits lowest level in 2 years

Manufacturing activity barely grew in July; economy's slump could extend into summer

WASHINGTON (AP) -- Manufacturers had their weakest growth in two years in July, a sign that the economy could weaken this summer.

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http://finance.yahoo.com/news/Manufacturing-growth-hits-apf-525121081.html?x=0&sec=topStories&pos=7&asset=&ccode=

Recession risks up amid slow growth, debt standoff

WASHINGTON (AP) — The economy is at risk of slipping into another recession.

It nearly stalled in the first six months of the year, the government reported Friday. Economic growth was feeble in the second quarter and practically non-existent in the first.

Full story:
http://news.yahoo.com/recession-risks-amid-slow-growth-debt-standoff-203841443.html

Layoffs Deepen Gloom

by Connor Dougherty
Thursday, July 21, 2011

The Wall Street Journal

Companies are laying off employees at a level not seen in nearly a year, hobbling the job market and intensifying fears about the pace of the economic recovery.

Cisco Systems Inc. (NASDAQ: CSCO - News), Lockheed Martin Corp. and troubled bookstore chain Borders Group Inc. are among those that have recently announced hefty cuts, while recent government numbers underscore how companies have shifted toward cutting jobs.

http://finance.yahoo.com/banking-budgeting/article/113169/layoffs-deepen-gloom-wsj?mod=bb-budgeting

Housing starts rise 14.6% to five-month high

July 19, 2011, 11:07 a.m. EDT

June’s building permits also higher, up 2.5% to 624,000 annual rate

By Greg Robb, MarketWatch

WASHINGTON (MarketWatch) — U.S. home builders sharply increased construction in June, according to estimates released Tuesday by the Commerce Department.

Housing starts rose 14.6% to a seasonally adjusted annual rate of 629,000, the highest level since January, the data showed.

Full story:
http://www.marketwatch.com/story/housing-starts-rise-146-to-five-month-high-2011-07-19?siteid=yhoof

US budget deficit on track to top $1 trillion

Budget deficit set to top $1 trillion for 3rd straight year, raising pressure for debt deal

Christopher S. Rugaber, AP Economics Writer, On Wednesday July 13, 2011, 3:19 pm EDT

WASHINGTON (AP) -- The federal budget deficit is on pace to break the $1 trillion mark for the third straight year, ratcheting up the pressure on the White House and Congress to reach a deal to rein in spending.

The deficit totaled $971 billion for the first nine months of the budget year, the Treasury Department said Wednesday. Three years ago, that would have been a record high for the full year.


Full story:
http://finance.yahoo.com/news/Budget-deficit-on-track-to-apf-957477153.html?x=0

China first-half fiscal surplus at $193 billion

BEIJING | Thu Jul 14, 2011 4:01am EDT

(Reuters) - China posted a fiscal surplus of 1.25 trillion yuan ($193.3 billion) in the first half of the year as steady economic growth and rising prices lifted government revenues, the Ministry of Finance said on Thursday.


Full story:
http://www.reuters.com/article/2011/07/14/us-china-economy-revenues-idUSTRE76D0YF20110714

A Home Is a Lousy Investment

Today's young people would be foolish to imitate their parents and view ownership as the cornerstone of personal finance.

By ROBERT BRIDGES

At the risk of heaping more misery on the struggling residential property market, an analysis of home-price and ownership data for the last 30 years in California—the Golden State with notoriously golden property prices—indicates that the average single family house has never been a particularly stellar investment.

Full article:
http://online.wsj.com/article/SB10001424052702304259304576375323652341888.html?mod=googlenews_wsj

Small business hiring outlook weak

By Catherine Clifford July 11, 2011: 3:26 PM ET

NEW YORK (CNNMoney) -- When it comes to hiring, the engines of job growth -- small businesses -- are sitting idle.

Almost two-thirds of small business owners said they will keep the same number of employees for the next year, according to the Small Business Outlook Survey released by the U.S. Chamber of Commerce Monday.

Full story:
http://money.cnn.com/2011/07/11/smallbusiness/small_business_outlook/index.htm

How bad is it? Pawn shops, payday lenders are hot

Bernard Condon, AP Business Writer, On Friday July 8, 2011, 5:28 pm EDT

NEW YORK (AP) -- As the jobless rate inches up and the economic recovery sputters, investors looking for a few good stocks may want to follow the money -- or rather the TV, the beloved Fender guitar, the baubles from grandma, the wedding ring.

Profits at pawn shop operator Ezcorp Inc. have jumped by an average 46 percent annually for five years. The stock has doubled from a year ago, to about $38. And the Wall Street pros who analyze the company think it will go higher yet. All seven of them are telling investors to buy the Austin, Texas, company.

Full story:
http://finance.yahoo.com/news/How-bad-is-it-Pawn-shops-apf-2995486552.html?x=0&sec=topStories&pos=4&asset=&ccode=

Job Growth Falters Badly, Clouding Hope for Recovery

For the second month in a row, employers added barely any jobs in June, showing that the economic recovery has hit a serious speed bump.

With all levels of government laying off workers, the Labor Department reported that employers eked out just 18,000 new nonfarm payroll jobs in June. The already low number created in May was also revised downward to a dismally small 25,000 new jobs, less than half of what was originally reported last month.

Full story:
http://www.nytimes.com/2011/07/09/business/economy/job-growth-falters-badly-clouding-hope-for-recovery.html?partner=yahoofinance

June jobs report: Hiring slows, unemployment rises

By Annalyn Censky @CNNMoney July 8, 2011: 4:19 PM ET

NEW YORK (CNNMoney) -- The job market hit a major roadblock last month, as hiring slowed to a crawl and the unemployment rate unexpectedly rose.

The economy gained just 18,000 jobs in June, the government reported Friday, sharply missing most expectations and coming in even weaker than the paltry 25,000 jobs added in May.

Full story:
http://money.cnn.com/2011/07/08/news/economy/june_jobs_report_unemployment/index.htm

Concern About the US Economy

Rising prices, reduced purchasing power, and unemployment

By Heide B. Malhotra
Epoch Times Staff

It’s midyear 2011, and experts have begun to worry that the United States might not be able to overcome stagflation, which in the long run could lead to deflation.

“With inflation rising and GDP forecasts continuing to be revised downward, fears of stagflation have crept back into the economy, with the economy hovering in a dangerous position between two possible outcomes: recovery or crash,” said Anthony B. Sanders, professor at George Mason University, in a commentary on the Mercatus Center website.

Full story:
http://www.theepochtimes.com/n2/business/concern-about-the-us-economy-58710.html

What's next for economy: Slow growth, weak hiring

By Chris Isidore @CNNMoney July 5, 2011: 8:50 PM ET

NEW YORK (CNNMoney) -- Almost no one is satisfied with the current state of the U.S. economy. But economists say the outlook is pretty bleak too.

Sluggish economic growth will continue into 2012, if not beyond, with only modest hiring and high unemployment, according to a CNNMoney survey of 27 economists.

Full story:
http://money.cnn.com/2011/07/05/news/economy/jobs_GDP_forecasts/