November 2011 U.S. Economic Fundamentals

[Ally]

Job market gets brighter, but only a little: Economy adds 80,000 jobs; rate falls to 9%



WASHINGTON - The American job market improved modestly in October, and economists looking deeper into the numbers found reasons for optimism ` or at least what counts for optimism in this agonizingly slow economic recovery.





The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have receded.





The unemployment rate nudged down, to 9 per cent from 9.1 in September.





"Those are pretty good signs," said Michael Hanson, senior economist at Bank of America Merrill Lynch. "We're hanging in there."



Read the full article here.

 

[Ally]

Applications for U.S. jobless claims fall




The number of people who applied for unemployment benefits last week fell to the lowest level since April, a sign that employers could be stepping up hiring.




The Labor Department said Thursday that weekly applications dropped to a seasonally adjusted 390,000. It was the third decline in four weeks. The four-week average, a less volatile measure, fell to 400,000, also the lowest point since April.





Read the full article here.

 

[Ally]

Home prices fall in most U.S. cities





Home prices dropped in nearly three-quarters of U.S. cities over the summer, dragged down by a decline in buyer interest and a high number of foreclosures.



The National Association of Realtors said Wednesday that the median price for previously occupied homes fell in the July-September period in 111 of 150 metropolitan areas the groups tracks. Prices are compared with the same quarter from the previous year.



Read the full article here.

 

[Ally]

America's debt problems still a concern, TD warns




OTTAWA ` Political gridlock in Washington over budgetary spending cuts could wallop growth by 2013, sending the world`s biggest economy back into recession, warns Craig Alexander, chief economist at TD Economics.




While he adds this is unlikely to happen, he cautions it is a risk investors must keep in mind as all eyes remain fixed on the endless European debt debacle.




Meanwhile, U.S. legislators are making little if any progress if determining spending cuts that were part of a deal struck to raise America`s debt ceiling when Democrats and Republicans were unable to craft a budget earlier this year.





Read the full article here.

 

[Ally]

Umemployment aid hits 7-month low, trade gap falls





WASHINGTON - The outlook for American jobs and trade looked a little brighter Thursday, despite growing uncertainty overseas.







The number of people who applied for unemployment benefits last week fell a seasonally adjusted 390,000, the Labor Department said Thursday. That's the fewest since April.







The U.S. trade deficit narrowed to $43.1 billion in September, its lowest point of the year, the Commerce Department said. Foreign sales of American-made autos, airplanes and heavy machinery pushed exports to an all-time high.







Read the full article here.

 

[Ally]

Wall Street has a much bigger worry then Obama





MSNBC's Chris Hayes has uncovered a very intriguing memo from DC lobbying firm Clark Lytle Geduldig & Cranfor (which has had close ties with John Boehner) written to the American Bankers Association proposing an ambitious project to monitor and undermine the Occupy Wall Street movement, as well as sympathetic politicians.




That alone is interesting, but the most intriguing part to us was this assessment of the risks that bankers face if the movement grows unchecked.






Read the full article here.

 

[Ally]

U.S. existing home sales rise 1.4%




The number of Americans who bought previously occupied homes rose slightly last month but remained at depressed levels. And more deals are being canceled at the last minute, a sign that even those who are looking to buy are worried about the housing market.




Home sales rose 1.4 per cent last month to a seasonally adjusted annual rate of 4.97 million, the National Association of Realtors said Monday. That's below the 6 million that economists say is consistent with a healthy housing market and slightly ahead of last year's sales ` the worst in 13 years.





Read the full article here.