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Tag Archives: Unemployment

Leading Indicators Point to Warm-Weather Recovery

The Conference Board reported its Leading Economic Index (LEI) increased 0.5 percent last month to 99.8, inclining steeper after a 0.1 percent gain in January. “The U.S. LEI increased sharply in February, suggesting that any weather-related volatility will be short lived and the economy should continue to improve into the second half of the year,” said Ataman Ozyildirim, economist at the Conference Board.

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Employers Add 175K Jobs in February; Unemployment at 6.7%

According to the Labor Department, the U.S. economy added 175,000 jobs in February, beating expectations after two weak months but still failing to impress. While more promising than December and January—which showed upwardly revised payroll growth of 84,000 and 129,000, respectively—February’s numbers still fell well short of 2013’s average monthly growth of 194,000.

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Finance Execs Maintain Cautious Optimism for 2014

Out of more than 900 respondents to Fiserv’s 2014 Boardroom Series Outlook Survey, 50 percent expressed “somewhat” or “very optimistic” expectations for economic growth this year, with another 42 percent expecting the year to follow more or less the same track as 2013. A combined 9 percent said they are “somewhat” or “very pessimistic.”

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Report: BofA Cutting Mortgage Jobs

The nation's second largest lender is reportedly cutting 450 jobs in its West Coast offices, according to Bloomberg. ""These notifications have been ongoing and reflect our previously announced efforts to reduce our size, resolve legacy issues and simplify our company,"" said Dan Frahm, a spokesman for Bank of America. The lender is still hiring in non-mortgage areas, and some employees will find jobs in other parts of the firm, he said.

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Weak Job Growth Continues Through January

Unemployment

According to the government's latest data, total nonfarm payroll employment rose by 113,000 last month, adding more bleak numbers to December's barely revised growth of 75,000. The unemployment rate edged down slightly to 6.6 percent. Since October, the jobless rate has fallen more than half a percentage point, largely thanks to declines in the number of people counted as being part of the labor force. There's a little bit of good news, though.

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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

price

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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