By Ed Beeson/The Star-Ledger | NJ.com Call it a warm winter hangover. Friday’s news that the U.S. economy added only 120,000 jobs in March disappointed economists and investors who were expecting employment gains closer to 205,000. But one of the theories that emerged to explain the sudden drop-off was that the mild winter spurred hiring in some sectors — construction, retail sales and temporary help — so much so that employers felt they didn’t need to add more to their rosters last month. “This could be a bit of a payback for it,” Anika Khan, an economist with Wells Fargo, [ Read More ]
Archive for the ‘Economy’ Category
Source: www.beaconequity.com Trends Research Institute founder Gerald Celente predicts that a war with Iran is scheduled to cover up the next leg down to the financial collapse of the U.S. and political upheaval a collapse engenders. “I’ve been in this business now since 1980, and I’m always marveled at the schemes undreamed of that they come up with,” Celente told GoldSeek Radio host Chris Waltzek. “So, when things should collapse, they often don’t, because they come up with another scheme. So, here’s the scheme undreamed of that I believe is going to be America’s worst nightmare, and that’s war with [ Read More ]
Oil is $120, and Europe is Europe, but the evidence of a real recovery is growing. In the last three months of 2011, U.S. economic growth kissed 3% for the first time in two years, according to today’s GDP revisions. Under the hood, the news is still good. Consumer spending is growing faster than we previously thought. Government is still a drag, but that makes the 3% figure all the more impressive. If the public sector had simply continued spending at an even pace, this might have been the best quarter of the recovery. Here’s a look at Reuters’ fantastic [ Read More ]
Economic growth doesn’t always mean jobs growth. Look at the current U.S. recovery: According to the Commerce Department, the economy has been growing for the past 10 straight quarters. In fact, the U.S. now produces more goods and services than it did before the downturn began in 2007. Unfortunately, this greater output is being done with 6 million fewer workers. Corporate profits are at an all-time high. But companies are sitting on record amounts of cash, or are investing in equipment rather than their work force. The average monthly jobs growth has only been 135,000, which barely keeps up with [ Read More ]
By: APP.com | Opinion In the seemingly endless struggle to make ends meet, New Jerseyans may well find themselves falling even further behind in 2012. As staff writer Jean Mikle pointed out in the Sunday Press, there are at least “8 Things That Will Cost You More This Year.” That might be tolerable if wages were keeping pace with rising prices. But they aren’t. It’s hard to argue, as Gov. Chris Christie has repeatedly tried to do, that New Jersey has staged a “comeback” when most residents are being nickled and dimed to death, and have no assurances that regular [ Read More ]
ATLANTA — Home improvement retailer Home Depot Inc. said Thursday that it will hire 70,000 seasonal workers for the spring season, its biggest season. The number is about the same as last year, company spokesman Stephen Holmes said. Spring is the biggest season for home improvement projects as homeowners work on projects for their homes, gardens and lawns. Last year, about half of the seasonal workers were hired permanently as cashiers, sales, lot and garden staffers. Home Depot employs about 300,000 workers overall. Home-goods sellers are facing cautious consumer spending and a prolonged weak housing market. They’ve had to adjust [ Read More ]
NEW YORK — Between 100 and 120 Sears and Kmart stores will be closed, the retailer said Tuesday, after terrible holiday sales during what is the most crucial time of the year for retailers. Sears has yet to determine which stores will be closed, but there has been a clear shift in where the retailer will devote its resources. The company is moving away from its practice of propping up “marginally performing” stores in hopes of improving their performance. Sears said it will now concentrate on cash-generating stores. “Given our performance and the difficult economic environment, especially for big-ticket items, [ Read More ]
