Tag Archive
Consumers Trade Down – US-FOREX.US
Cash-strapped consumers are looking to get the most bang for their buck, forcing retailers to adapt to new spending habits, says Claire Gruppo, co-founder and managing director of investment bank and M&A firm Gruppo, Levey.”People aren’t comfortable paying for brands or an experience if they don’t feel it’s worth it,” Gruppo said, “and the trend… »
Method Behind Adeccos Madness – US-FOREX.US
Ever wonder just how badly the recession is affecting the employment market? A quick glance at Adecco’s second-quarter results says it all. Sales in France, Germany, Britain, the United States and Japan shrank at double-digit rates, while the company reported a loss of 208 million after writing down the value of intangible assets. Strange, then,… »
July Job Cuts Expected To Wane – US-FOREX.US
Wall Street may be encouraged by the waning level of job losses on Friday, but it will mean little to Americans stuck in unemployment lines and struggling to make ends meet.On Friday, the U.S. Labor Department is expected to announce that the national unemployment rate rose to 9.7% in July, as 300,000 Americans lost their… »
Pink Slips On The Wane – US-FOREX.US
The U.S. economy is doling out fewer and fewer pink slips, as the labor market appears to be on the path of stabilization. Even so, Wall Street and Main Street are still worried that the jobless rate will stagnate and handcuff the recovery.The ADP Employer Services report found the U.S. private sector slashed 371,000 positions… »
Savings And Income Decline – US-FOREX.US
Americans are strapped for cash, as personal income flattened in June while gas prices rose, further tightening the grip many individuals and families feel from mortgage payments, credit card bills and a weak labor market.The lift in May income from the one-time Social Security stimulus payments has long past and personal income fell to 1.3%… »
Bernankes Image Tour – US-FOREX.US
Federal Reserve chairman Ben Bernanke has hit the road, taping a “town-hall-style” special on public television that will air over three days this week. Discussing the economic recovery and defending the central bank’s actions before a general audience accomplishes a number of things. Aside from raising public awareness, reaching out to citizens also boosts the… »
The View From Main Street – US-FOREX.US
After reaching the edge of the abyss six months ago, Wall Street has been slowly recovering, thanks in large part to massive help from the federal government. But Main Street continues to face serious challenges, says the Center for American Progress. That bodes badly for the consumers who will ultimately drive corporate earnings.Family wealth in… »
Initial Claims Worse Than You Think – US-FOREX.US
Initial jobless claims in the United States fell to their lowest level since January, but don’t get excited. Seasonal distortions related to the auto industry skewed the reading, making things look better than they actually are.On Thursday the Labor Department reported first-time claims for unemployment benefits last week fell by 52,000 to 565,000, well below… »
Economy Grows Recession Remains – US-FOREX.US
The U.S. economy may experience some positive quarters this year, but, contrary to popular belief, that doesn’t mean the recession is about to end. Though some define a recession as two consecutive quarters of negative GDP growth, a quarter or even two of positive growth isn’t enough for economists to declare that one is over.”The… »
Dour Fed Chatter – US-FOREX.US
Recent talk from Federal Reserve officials goes to show that you really get to know a person once they leave the office.Over the past week a handful of speeches have, in many ways, offered more insight into the thinking of the central bank than last week’s statement following Federal Open Market Committee’s meeting. Earlier this… »