More progress on the U.S. employment front, as the private sector cut just 22,000 jobs in January, according to data compiled in the ADP National Employment Report. That follows a revised loss of just 61,000 jobs in December, down from the previously released 84,000. What’s more, January’s drop was the smallest decline in private employment since payrolls started falling in February 2008, or two months after the recession started. A Bloomberg News economists survey had expected private employers to cut 30,000 jobs in January. Continue reading Ray of Light: January Private Sector Jobs Fell Just 22,000 Ray of Light: January Private Sector Jobs Fell Just 22,000 originally appeared on DailyFinance on Wed, 03 Feb 2010 09:40:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Ray of Light: January Private Sector Jobs Fell Just 22,000

Another mixed-progress week on the employment front, as initial jobless claims fell, but by a smaller-than-expected 8,000 to 470,000 for the week ending Jan. 23, the U.S. Labor Department announced Thursday . A Bloomberg News economists’ survey had expected jobless claims to total 440,000. The more-telling, four-week moving average unexpectedly rose 9,500 to 456,250. Continue reading Mixed Progress for Jobless Claims Mixed Progress for Jobless Claims originally appeared on DailyFinance on Thu, 28 Jan 2010 09:50:00. Filed Under: Economy Permalink | Tweet this! | Comments

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It’s a case of dueling surveys. Two polls released last week and one issued Monday set out to probe how investors view President Barack Obama’s economic policies. But they provide contradictory readings. One released by Bloomberg News says 77% of its subscribers — mostly high-income individuals in the financial services sector — think President Obama is against business and can’t manage a financial crisis. A USA Today /Gallup poll was also downbeat, finding that 34% of Americans believe it will be four or more years before the economic recovery starts. But not everyone in the Gallup survey, which reached similar findings in July, is ready to stick their heads in the oven. Continue reading Investor Sentiment Surveys About Obama Can’t All Be Right Investor Sentiment Surveys About Obama Can’t All Be Right originally appeared on DailyFinance on Mon, 25 Jan 2010 18:00:00. Filed Under: Economy , Investing , JP Morgan Chase Permalink | Tweet this! | Comments

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Boeing ( BA ) is seeing plenty of turbulence these days. No sooner does it get some good news than it gets smacked with bad. The good news was that on Tuesday, Boeing managed to get a partially successful test flight of its 787 off the ground. The bad news Friday, according to Bloomberg News , is that Ireland’s Ryanair ( RYAAY ) has ended discussions regarding an order for 200 Boeing 737s valued at $1.4 billion (representing 0.55% of Boeing’s $254 billion backlog) for delivery between 2013 and 2016. Continue reading Ryanair Decides Not to Buy 200 Boeing Planes Ryanair Decides Not to Buy 200 Boeing Planes originally appeared on DailyFinance on Fri, 18 Dec 2009 11:00:00. Filed Under: Boeing Permalink | Tweet this! | Comments

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Filed under: Economy The National Association of Home Builders said Tuesday its Housing Market Index fell again in December to 16, from November’s reading of 17 — the index’s lowest level since June. According to a Bloomberg News survey, economists had expected the index to rise to 18 in December. The index was at 20 in October, after hitting a cycle low of eight in January. The NAHB Housing Market Index measures builder perceptions of current single-family sales conditions, sales expectations for the next six months, and the traffic of prospective buyers. Readings over 50 indicate that more builders view sales conditions as good than poor. Continue reading Home builder confidence index falls to lowest level since June Home builder confidence index falls to lowest level since June originally appeared on DailyFinance on Tue, 15 Dec 2009 15:20:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy Consumer sentiment unexpectedly soared in December, topping off a week in which continuing jobless claims declined further and the Dow made progress solidifying gains above 10,000. The Reuters/University of Michigan Survey of Consumers said its consumer sentiment index for December (preliminary) surged to 73.4 from 67.4 in November, Reuters reported Friday. The index totaled 70.6 in October, 74.0 in September. and 67.5 in August. The index hit a cycle low of 55.3 in November 2008, and the index’s record low of 51.7 was set in May 1980. A Bloomberg News surveyed had expected the index to rise to 68.2 in December (preliminary). Continue reading Consumer sentiment surges in December, beating estimates Consumer sentiment surges in December, beating estimates originally appeared on DailyFinance on Fri, 11 Dec 2009 14:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy More good news for the U.S. economy, as the nation’s budget deficit narrowed to $120.3 billion in November, the U.S. Treasury Department announced Thursday. A Bloomberg News economists survey had expected the U.S. Government to post a $135.0 billion deficit in November, the second month of the federal government’s fiscal year. The U.S. government posted a $176.4 billion deficit in October and a $46.6 billion deficit in September, to close out FY2009 with a $1.42 trillion deficit — a fiscal year record. The deficit in 2009 was nearly three times the FY2008 deficit, due mainly to the bank bailout and the $786 billion fiscal stimulus package. Continue reading Budget deficit narrowed to $120.3 billion in November Budget deficit narrowed to $120.3 billion in November originally appeared on DailyFinance on Thu, 10 Dec 2009 17:15:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy The nation’s trade deficit unexpectedly plunged another 7.6% to $32.9 billion in October, as exports — aided by the weaker dollar — rose for the sixth straight month, the U.S. Commerce Department announced Thursday. A Bloomberg News economists survey had expected the trade deficit to total $36.4 billion in October. It totaled a revised $35.7 billion in September, down from the previously released $36.5 billion. In October, imports rose $700 million or by just 0.4% to $169.8 billion, while exports, led by increased sales of capital goods and consumer goods, rose $3.5 billion or by 2.6% to $136.8 billion. Further, for the first 10 months of 2009, the trade deficit totaled $304 billion, down substantially from the $610.8 billion total for the same period in 2008. Continue reading U.S. trade deficit falls as exports rise for sixth straight month U.S. trade deficit falls as exports rise for sixth straight month originally appeared on DailyFinance on Thu, 10 Dec 2009 11:20:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy , Investing Gold bugs readily cite plenty of reasons why they think the precious metal’s price will keep climbing. One argument gaining prominence lately is that the world’s central banks will rush into gold , pushing the price ever-higher. But apparently the central bankers haven’t gotten the memo. On Tuesday, the Bank of Korea — the world’s sixth-largest central bank — became the latest one to pour cold water on the notion that it would buy gold to diversify out of the dollar. “There’s an illusion in gold,” Lee Eung Baek, the head of the bank’s reserve-management department, told Bloomberg News in an interview. “We follow the big trend. Gold isn’t the trend. Out of more than 200 nations, how many countries have bought bullion?” Continue reading Don’t count on central banks to fuel the gold rush. Ask South Korea Don’t count on central banks to fuel the gold rush. Ask South Korea originally appeared on DailyFinance on Tue, 08 Dec 2009 15:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy The frugal consumer era continued in October, but belt-tightening lessened somewhat, as outstanding U.S. consumer credit balances fell by $3.51 billion or at a 1.7% annual rate in October to $2.482 trillion — the ninth straight monthly credit decline, the U.S. Federal Reserve announced Monday. Economists surveyed by Bloomberg News had expected October consumer credit to contract by $8.80 billion. Consumer credit is down 3.6% to compared to a year ago. Also, this month the Fed revised monthly consumer credit data back through March. September’s total debt outstanding was revised higher by $30.6 billion, to $2.486 trillion from the previously-released $2.456 trillion. Continue reading Consumers’ credit debt falls for ninth straight month Consumers’ credit debt falls for ninth straight month originally appeared on DailyFinance on Mon, 07 Dec 2009 16:20:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Consumers’ credit debt falls for ninth straight month