U.S. Economy Grows, At Last, But Jobs More Elusive
Thu, 10/29/2009 - 10:07 EDT - NPR - National Public Radio (Business News)
With the economy growing by 3.5 percent last quarter, the most painful recession since the Great Depression appears to be over. But the recovery might be slower than many Americans hope, and it could take much longer for lost jobs to return.» E-Mail This» Add to Del.icio.us
6 months ago I figured we could hope than in late 2009 we would see the beginning of the recovery. I am much less optimistic about the later half of 2009 now. The initial reports for the last quarter of 2008 showed GDP Down 3.8%, the worst since 1982. That has now been updated to an annualized decline of 6.2%. Still the economy actually grew for all of 2008 by just over 1%, something I don’t think most people realize.
The Obama administration says the government's stimulus program, and other actions aimed at jump-starting the economy, have saved or created more than 1 million jobs so far. Republicans, who generally voted against the stimulus, are skeptical of that number. They point out that fewer Americans are working now than when the stimulus took effect in February.
(WASHINGTON) — The government’s snapshot Friday of the U.S. economy’s growth will be its last before Americans choose a president in 11 days. It probably won’t sway many undecided voters. The first of three estimates of growth for the July-September quarter will likely sketch a picture that’s been familiar all year: The economy is growing at a tepid rate, slowed by high unemployment, corporate anxiety over an unresolved budget crisis and a global economic slowdown. (MORE: U.S.
The economy picked up steam in the last three months of 2010, growing at an annual rate of 3.2 percent, the Commerce Department said Friday. That's up from the 2.6 percent pace in the third quarter.» E-Mail This » Add to Del.icio.us
The recession faded in the spring with economic activity shrinking at a pace of just 0.7 percent, a better-than-expected showing that buttressed beliefs the economy is growing now. The government previously estimated gross domestic product fell at a 1 percent pace.» E-Mail This » Add to Del.icio.us
Gross domestic product expanded at a 2.4 percent annual rate in the first quarter, the government reports. At one point, economists thought growth was closer to 3 percent in the first three months of the year.» E-Mail This » Add to Del.icio.us
A 79 percent drop in earnings — That's what the computer maker reported to investors Thursday. The reason, analysts say, it's harder to sell PCs these days with the growing popularity of smartphones and tablets» E-Mail This » Add to Del.icio.us
The labor market will remain tough for many months to come. But when jobs eventually come back, traditionally strong areas such as health care and education are expected to lead the way. Analysts say weaker ones — such as construction — could take years to return. And many jobs in areas such as autos and newspapers are gone for good.