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Tag Archives: Unemployment

Commentary: A Response to the State of the Union Address

Instead of bringing America together and setting us forth on the path towards economic growth and prosperity, what President Obama did in his State of the Union address was offer of the same misguided, go-it-alone ideas we've heard before, as opposed to real job creation and economic growth. Rather than go through the same divisive rhetoric and "stale political arguments" Americans have grown tired of, let's agree to put politics aside and do what's best for everyone, not just the chosen few.

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Obama Silent on Housing in State of the Union

In his speech Tuesday night, the president only directly mentioned housing twice: first to describe the market as "rebounding" and again to demand from Congress "legislation that protects the taxpayers from footing the bill for a housing crisis ever again." While the second might be seen as a nod toward legislative movements to abolish Fannie Mae and Freddie Mac, the topic wasn't explored any further. Instead, much of Obama's focus went toward addressing wage stagnation.

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Price Appreciation Projected for 90% of Nation’s Top Markets

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In its latest forecast, analytics firm Veros Real Estate Solutions predicts home prices will rise on average 5.1 percent for the nation's top 100 metro areas. The company's previous 2014 projections, released last quarter, called for 4.8 percent growth. "The future HPI [Home Price Index] forecast continues to show good appreciation, but the markets appear to be topping out for now," said Eric Fox, Veros' VP of statistical and economic modeling and author of the company's VeroFORECAST.

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Departing Fed Chair Talks Economic Health, Defends Policies

In a conversation Thursday hosted by the Brookings Institution, outgoing Federal Reserve Chairman Ben Bernanke defended the Fed's easy money policies, dismissing concerns of out of control inflation and capital losses. He also eased worries about the long-term effects of the financial crisis--including the impact of unemployment on labor supply and productivity--saying that while they are a problem, none of issues are "truly permanent."

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December Jobs Report Shows Paltry Growth, Plunge in Labor Force

The Bureau of Labor Statistics (BLS) released Friday its Employment Situation Report, revealing job growth well below consensus forecasts. According to the government report, the U.S. economy added 74,000 jobs last month. Meanwhile, the unemployment rate dropped 0.3 percentage points to 6.7 percent, reflecting a precipitous drop in the labor force. BLS' report shows the labor force participation rate falling 0.2 percentage points to 62.8 percent.

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U.S. Economic Improvement to Outpace Global Growth in 2014

Global economic growth will increase from 2.5 percent this year to 3.3 percent in the new year, with the U.S. economy growing 2.6 percent, up from 1.7 percent this year, according to IHS Chief Economist Nariman Behravesh and IHS Chief U.S. Economist Doug Handler. Europe's recovery "will proceed, but at a very sluggish pace," with growth reaching 0.8 percent, up from -0.4 percent this year. Meanwhile, the dollar will gain strength as the Fed tapers its stimulus while other central banks continue theirs, according to IHS.

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Payroll Growth in October Better than Expected, Jobless Rate at 7.3%

Despite the partial government shutdown threatening growth, the nation's economy added 204,000 jobs in October, with prior months seeing major upward revisions, the Bureau of Labor Statistics (BLS) revealed Friday in its Employment Situation Report. Economists surveyed by Bloomberg put out a median forecast of 120,000 new nonfarm payroll jobs.

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