Obama Recovery Officially Dead Last in Job Creation
In a jobs report unaffected by Hurricane Sandy, the Bureau of Labor Statistics reported today that the U.S. economy added 171,000 nonfarm payroll jobs during October with a gain of 184,000 jobs in the private sector. The unemployment rate increased to 7.9%.
U.S. Congressman Kevin Brady (R-TX), Vice...
Lack of Economic Growth Slows Job Creation and Swells Nation...
Rep. Kevin Brady (R-TX), Vice Chairman of the Joint Economic Committee, responding to today’s announcement that real gross domestic product grew at an annualized rate of 2.0% during the 3rd-quarter of 2012, cited President Obama’s devotion to big government as the “primary reason” for the delay in A...
Brady Warns of Continued Uncertainty with QE “Infinity”
Rep. Kevin Brady (R-TX), Vice Chairman of and top Republican on the Joint Economic Committee, today said the Federal Open Market Committee’s decision to continue its quantitative easing policy until mid-2015, “heightens the uncertainty threatening our recovery.”
Brady continued, “Policy uncertainty...
Weekly Economic Update: October 29 - November 2, 2012
The economy added 171,000 jobs in October as the unemployment rate rose to 7.9%. The ISM index edged up 0.2 points to 51.7 in October. Personal income increased 0.4% in September as personal spending rose 08%. Productivity advanced 1.9% in the 3rd quarter of 2012. The Case-Shiller home price index w...
Payroll employment up 171,000; unemployment rate increased t...
The labor force rose by 578,000 in October, following a gain of 418,000 in September. The labor force participation rate edged up to 63.8%, from 63.6% in September.
Weekly Economic Update: October 15-19, 2012
Retail sales increased 1.1% in September. Industrial production was up 0.4% in September. The topline CPI rose 0.6% in September as the core CPI rose 0.1%. Housing starts increased 15% in September while building permits rose 11.6%. Existing home sales fell 1.7% in September. Business inventori...
Employment Report: We Could Be Back to Even
The Bureau of Labor Statistics reported that on a seasonally-adjusted basis nonfarm payrolls increased by 171,000 during October with private sector payrolls growing by 184,000.
America Needs a Growth Dividend
In the more than three years since the recession ended in June 2009, real gross domestic product (GDP) has only increased by a total of 7.2%.
The average increase in real GDP for the other nine post World War II recessions that lasted longer than a year over a comparable 13 quarters is 16.8%. In...
The Pending State Pensions Crisis
By all measures, state and local government employee pension funds are significantly underfunded. By standard accounting methods, some state pension funds will run out of assets within as little as five years. When this happens, states will have to use general government tax revenue to pay their pen...
