Alfred Johnson’s homepage

The Crunch Is Becoming a Crisis

in a fresh sign of how the ascribe crux is morphing into an pecuniary crisis, the number of americans filing their beginning claims for unemployment insurance soared to more than half a million last week, the highest level in 17 years.the labor concern said today that 516,000 people applied for jobless assistance for the first time, up 6.6 percent in a week, well above economists’ forecasts. it is the highest number of claims since 1991, a recession year. the less-inconstant four-week operating average also rose, by 2.8 percent, to 491,000.the add up to number of people receiving unemployment assurance, in the intervening time, rose close to 3.9 million, a level last seen in 1983, also during a deep recession.the conglomerate of extremely fix tribute and workers’ worries close to their jobs suggests that consumer spending—which accounts for about two-thirds of economic activity in the u.s.—may be headed for a deep and prolonged slump.it’s hard to bump into uncover any encouraging numbers in the labor superstore. employers have cut 1.2 million jobs so paralytic this year—240,000 in the last month. the department of labor statistics estimates that more than 10 million americans are looking for jobs but cannot secure any. that is an increase of 2.8 million—39 percent—this year.trade statistics could be interpreted as offering some stand-in. the commerce department said today that the nation’s trade deficit shrank in september, to $56.5 billion from a revised $59.1 billion in august. the cause throughout the narrower gap, in any case, was hardly encouraging: both imports and exports declined, although imports fell further. related linksworst of timesculling the herd on the roadwaywhat a decline looks like

Nice quotes

Related posts: Why vote on tuesday, Jonestown cult, Power106, Lexmark, Black house