Good news for US (and World) economy

Originally posted by Sinister
News Flash: Give a man a meal and he'll expect another. Give a man the means to provide his own meal and he'll prosper.

Too bad they're hardly jobs to give, much less find.

[JimmyTango]

Originally posted by Nate

Actually, individual spending probably accounts for about 9% of the US economy. It really has to do with corporate spending from leveraged positions on stock options from the recession.

Um, same article:

"Consumer spending, which accounts for more than two-thirds of the economy."

This has nothing to do with corporate spending. It has everything to do with consumers having access cash.

Even the Bush administration is pointing their fingers at consumer spending(though more to the tax 'cuts'(more like advanced payments) for the improvements).

There is a reason small business is called the back bone of America.

[Allister Fiend]

Originally posted by Dan
Too bad they're hardly jobs to give, much less find.

By Tim Ahmann

WASHINGTON (Reuters) - The number of Americans filing first-time claims for unemployment benefits plunged last week to a level not seen since before the 2001 recession, the government said on Thursday, fueling hopes a long slide in employment had ended.

Coupled with other recent news indicating an improving labor market, the data suggested a quickening pace of recovery had finally taxed the ability of businesses to boost production without hiring workers, economists said.

"The odds ... do increasingly favor a revival in job creation," Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said in cautiously upbeat remarks that nevertheless stopped short of declaring a sustained pickup in employment had arrived.

Greenspan told the Securities Industry Association "a notable pickup in hiring" was possible if businesses found a need to rebuild depleted inventories and were unable to squeeze new efficiencies out of their operations.

The economy surged ahead at a 7.2 percent annual rate in the third quarter -- the fastest pace in nearly two decades -- but employment dropped by 41,000 as businesses met rising demand by boosting productivity, or worker output per hour.

The Labor Department (news - web sites)'s report on Thursday, though, said initial claims for state unemployment aid last week fell 43,000 to 348,000 from a revised 391,000 the prior week. The unexpectedly steep tumble took claims to their lowest since late January 2001, two months before the recession...

full article here...

http://story.news.yahoo.com/news?tmpl=story&cid=568&e=5&u=/nm/20031106/bs_nm/economy_dc

Allister Fiend

[JimmyTango]

That article is talking about jobs not being taken away, as in it is leveling off, not about there being more jobs opening up, which Dan posted about.

[Allister Fiend]

Originally posted by JimmyTango
That article is talking about jobs not being taken away, as in it is leveling off, not about there being more jobs opening up, which Dan posted about.

I realized that after I posted it, then just decided to leave it


Allister Fiend