Economy Tracker

[Mr. Rainman]

This weak economy has certainly gained the attention of many of us. The recent oil price crisis and high unemployment are just a few examples. So, I'm starting this thread so that anyone can relay economic information to the forums, whether it be good or bad.

Signs are starting to show up that jobs are slowly but surely trickling back into the U.S. economy. Today, statistics from the Labor Department that jobless claims dropped to 366,000. The last time jobless claims were this low was on May 31st, 2008.

As you can image, markets reacted positively to this news. Here are the full numbers.

ECONOMIC DATA
Jobless claims: 366,000 20,000
Jobs Created in February (Consensus): 192,000 156,000
Unemployment Rate: 9.1% 0.1%
Service Industry Index: 59.7 0.3

U.S. MARKETS
Dow: 12,258.20 191.40 (1.59%)
Nasdaq: 2,798.74 50.67 (1.84%)
S&P: 1,330.97 22.53 (1.72%)
General Electric (TWC): $20.75 0.43 (2.12%)

COMMODITIES
Oil: $101.85 0.38 (-0.37%)
Gold: $1,416.40 21.30 (-1.48%)

[twcclassics]

Today, statistics from the Labor Department that jobless claims dropped to 366,000. The last time jobless claims were this low was on May 31st, 2008.

Yes, but how many gave up looking? Unfortunately, that's something we have to consider these days. The media, of course, ignores it.

[TWCC_DJK5555]

Yes, but how many gave up looking? Unfortunately, that's something we have to consider these days. The media, of course, ignores it.

Gallup shows unemployment at 10.3%, and underemployment at 19.9% in February.   

http://www.gallup.com/poll/146453/Gallup-Finds-Unemployment-Hitting-February.aspx

[TWCToday]

Yes, but how many gave up looking? Unfortunately, that's something we have to consider these days. The media, of course, ignores it.

Gallup shows unemployment at 10.3%, and underemployment at 19.9% in February.   

http://www.gallup.com/poll/146453/Gallup-Finds-Unemployment-Hitting-February.aspx

Ouch!

[phw115wvwx]

While those numbers are alarming, they still fail to capture the entire scope of impact from the poor economy lately.  You're not even considering how many people took pay cuts, faced financial hardships when they were previously doing fine, etc.

[TWCC_DJK5555]

While those numbers are alarming, they still fail to capture the entire scope of impact from the poor economy lately.  You're not even considering how many people took pay cuts, faced financial hardships when they were previously doing fine, etc.

Precisely.

Here's a depressing article...

No Hope for a Consumer-Driven Economic Recovery

It's very doom-and-gloom, but it confirms several suspicions I've had for several years.  For example, when I was a senior in high school in 1994, the Dow Jones was around 3500.  My then Econ teacher told us that the Dow "should get above 4000 by the year 2000."  When that index hit 11000 in 1998, it seemed fishy to me.

[TWCC_DJK5555]

underemployment at 19.9% in February.

20.3% in March

[TWCC_DJK5555]

This doesn't surprise me at all.   

Manufacturing Surveys Imply US Economy Has Entered The Second Month Of A (Re)Recession

[Bryan]

This doesn't surprise me at all.   

Manufacturing Surveys Imply US Economy Has Entered The Second Month Of A (Re)Recession

It's time to spend another billion we don't have.

[Localonthe8s]

This is going to sound very stupid, but if we are having that many issues with our debt, why cant our mint just produce the extra bills?

[toxictwister00]

This joke is nearly a decade old and it's still just as relevant today as it was then of how our economy is.

A brief history of the DOW jones

[tpirfan28]

This is going to sound very stupid, but if we are having that many issues with our debt, why cant our mint just produce the extra bills?

Because the more you print, the less it is worth, therefore defeating the purpose.

Go do a Wiki search for the Zimbabwe Dollar.

[gt1racerlHDl]

Fall River, MA Unemployment Rate 14.9% used to be around 18% to 20%

[TWCC_DJK5555]

Because the more you print, the less it is worth, therefore defeating the purpose.

EXACTLY.  That's the main reason why gas costs so much.

And the Fed wants another round of "Quantitative Easing" (i.e. printing more money).  Bernanke is an idiot.   

[TWCC_DJK5555]

And don't get too excited about this recent "drop" in unemployment...

http://www.cnbc.com/id/44033486