August 13, 2022

Unemployment Claims Drop Again As Economy Shows Signs Of Strengthening

In what seems to be a positive trend, the jobless claims report released today shows the fewest unemployment claims in over two years from last week’s filings. Although experts feel optimistic, many agree that we are not out of the woods yet with unemployment rates holding near a 26 year high. American’s surveyed by the […]

Foreclosures Back In Action

After several weeks of hiatus, it appears banks are starting to fire back up the foreclosure machines once again. Originally it was anticipated foreclosure proceedings would be halted by several big banks for as long as three months. At least two banks, Bank of America and GMAC, previously reporting to have stopped foreclosures to review […]

Small Business Might See A Glimmer Of Hope

The Wall Street Journal recently ran a report from the National Federation of Independent Business (NFIB) showing that “optimism rose slightly in September.” This despite the sluggish recovery for the economy overall in the United States. Even though there was a slight increase, numbers did remain stuck in the recession zone that has been established […]

Latest SBA Statistics Identify both Positive and Negative Trends

During 2009 approximately 552,600 new employer firms were established and 660,900 firms went out of business, according to information released by the U.S. Small Business Administration. The SBA’s Office of Advocacy furnished the latest update to the database of small businesses statistics. According to the SBA, 7 out of 10 new employer firms remain viable […]

US Housing Starts and Building Permits Rise

The U.S. Commerce Department today reported that U.S. housing starts rose by 10.5% in August, significantly exceeding market expectations of a minimal 0.7% gain. August’s data reflects the second consecutive month with a housing starts increase. It is also the largest improvement since November of 2009. Good news was also reported for new building permits, […]

Recession Ends But Nobody Really Notices

It’s finally over. At least, technically, it’s over. According to the National Bureau of Economic Research, the lengthiest economic recession since the days of the Great Depression came to an end over a year ago. The latest recession started in December 2007 and officially ended in June 2009 according to the economic research firm. What […]

Mortgage Applications Rise on Low Interest Rates

As a result of the lowest interest rates in decades, home mortgage applications rose 4.9% last week. According to the Mortgage Bankers Association, the gain was driven by a 5.7% increase in refinancing applications. New loans for purchasing homes rose by less than 1%. . Refinancing represents 82.4 percent of all new loan activity, its […]

China Surpasses Japan As World’s 2nd Largest Economy

After thirty years of remarkable economic expansion, China now outranks Japan as the world’s second-largest economy behind the United States after dismal growth figures were released by the Japanese government. Tokyo announced that in the 2nd quarter the Japanese economy had a value of approximately $1.28 trillion, just below China’s figure of $1.33 trillion and […]