Economic wobbles

[joefree1]

Biz Buzz

7/29/04
Economic wobbles
By Paul J. Lim
edit ...
Clearly, the pace of economic growth has slowed. And there is mounting evidence that the economy is beginning to wobble:

—According to the Federal Reserve Board's "Beige Book" report, "economic activity continued to expand in June and early July." But the report, which tracks the health of the economy in all 12 Fed districts, noted that in several of them, the "rate of growth moderated" or "slowed somewhat."

—Meanwhile, the Labor Department reported this morning that first-time claims for unemployment benefits rose an unexpected 4,000 last week to 345,000, a sign that the job market, while improving, still has a ways to go. Economists thought the initial jobless claims figure would fall slightly to around 340,000.

—While oil prices have come down slightly from Wednesday's record highs, crude oil futures prices remain above $42 a barrel, in part because of worries in Iraq and now in part because of production concerns coming out of Russia.

—And yesterday, as Biz Buzz noted, the Commerce Department reported less-than-stellar growth in new orders for durable goods in June. Stripping out defense-related spending, orders for big-ticket items actually fell last month.
More ...
http://www.usnews.com/usnews/biztech/buzz/archive/buzz040729.htm

Bad news: I might not be working much soon.
Good news: a lot of my friends no longer feel like they're the only one's unemployed.


Download the free bumper art here:
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[ixion]

1. well, considering that it never really recovered anyway...

a 'wobble' is no great shock.

The job market still sucks, unless you happen to be a mercenary.

Wages are flat, and it's a sellers market.

...how's the old saying go? Don't pee on my shoe and tell me it's raining... something like that.

[Skittles]

2. we blinked and the "economic recovery" is over?

pretty f***ing sad

[FloridaPat]

3. The worst part is, Bushco has done everything he can to make

the economy look good during an election year. What's going to happen after the election?

[phantom power]

4. We're all going to pay

I wish more people understood how much we're all going to pay, just in the interest on the added debt these em-effers have sunk us into. That's basically money down the toilet. It's money that doesn't buy us any goods or services, it just goes to line our creditors pockets.

Party of fiscal "responsibility", my ass.