Archive for October, 2009
Consumers Debt Falls for 7th Month in Row
WASHINGTON (TheStreet) — Consumers lowered their debt in August, the seventh consecutive month that they’ve done so.
The Federal Reserve announced Wednesday that consumer debt fell by $11.98 billion, or at a 5.8% annual rate, to $2.46 trillion during the month. The figure was generally in line with the expectations of economists, who had projected that [...]
Greenspan predicts economic growth to hit 3 percent or higher
WASHINGTON (CNN) — The U.S. economy will grow more than expected in the third quarter, but unemployment also will continue to increase and will pass 10 percent, former Federal Reserve Chairman Alan Greenspan said Sunday.
Greenspan told the ABC program “This Week” that he expected 3 percent growth in the third quarter, up from the 2.5 [...]
A Jobs Crisis
Joshua Zumbrun, 10.02.09, 09:50 AM EDT
Confounding talk of recovery, losses increase in September; unemployment hits 9.8%.
All the talk of recession ending is confounded by one simple fact: The job market is not recovering. In September, the 22nd month since the recession began, an additional 263,000 jobs were lost, bringing the total number of unemployed [...]