What are your thoughts on this one? Fox News aired a segment suggesting the federal government lower the minimum wage to help workers and the economy. I’m not too sure this is something that would be called for during the economic times we are currently in.
For all the pain caused by the Great Recession, the job market still was not in as bad shape as it had been during the depths of the early 1980s recession — until now. Read the full story
Dealers add other incentives in bid to entice buyers
It has been nearly a month since the car-buying frenzy of the Cash for Clunkers program ended, and many area auto dealers are longing for the good old days of July and August. Read the full story
I’m unsure of what Mr. Bernanke’s idea of ‘likely over’ is after reading this article. All signs clearly point to a continued downward trend in our economy, because all the figures used in this article are padded due to “cash for clunkers” sales. Without this added short-term boost, how will the economy fair in the future months…?
(All emphasis is my own personal emphasis to point out the numbers I just mentioned.)
Fed Chief Doesn’t Expect Many New Jobs to Appear Soon; Retail Sales Climb 2.7%
Federal Reserve Chairman Ben Bernanke said Tuesday that the recession was “very likely over,” as consumers showed some of the first tangible signs of spending again.
Mr. Bernanke, who had become cautiously more upbeat in recent weeks amid signs of third-quarter growth, said for the first time that forecasters agree “at this point that we are in a recovery.”
The rebound, he added, would likely be so moderate it wouldn’t produce many jobs.
“Even though from a technical perspective the recession is very likely over at this point, it is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was,” he said. Read the full story
So the Fed is now claiming the “real unemployment” to be at 16%, and this comes just weeks after claiming the economy was in a state of “recovery”. This makes one wonder if the “real unemployment” rate is actually even higher than the 16% they are now claiming. The figure was at 9.4% until the Fed released the news yesterday of 16% unemployment. There are also claims that this figure could continue to climb through 2011. Read the full story
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