What's that saying "slow but steady wins the race"? Let's go!! Via Taegan-
The U.S. economy added jobs last month "at the fastest pace in four years, but the unemployment rate unexpectedly rose," the Wall Street Journal reports.
Employers added 290,000 more jobs in April -- more than Wall Street expected and the largest gain since March 2006 -- but the unemployment rate rose to 9.9%, a sign that more Americans are looking for jobs.
This just makes me giggle. I believe Oliver calls it a "ObamaBoom".
DEARBORN, Mich. – Ford Motor Co. said Tuesday it earned $2.1 billion in the first quarter, another sign the economy is improving as people spend more on big-ticket items like cars. The automaker expects to be solidly profitable this year, a year earlier than its previous guidance.
Ford said its net income per share was 50 cents for the quarter. That's an about-face from the same period last year when it lost $1.4 billion, or 60 cents per share, at the height of the recession. It was Ford's fourth straight positive quarter and its highest quarterly profit in six years.
(snip)
In a sign of its confidence in the economic recovery, Ford said it's boosting North American production in the second quarter to 625,000 vehicles, a 9 percent increase over first-quarter levels. The increase could mean additional hiring by Ford, but Chief Financial Officer Lewis Booth said Tuesday it's too early to say if the company will be adding workers.
"If we continue to grow, maybe we'll talk about that sometime later," Booth said.
Getting there.
Washington (CNN) - Americans appear slightly more optimistic about the economy than they did at the start of the year, according to a new national poll.
A CNN/Opinion Research Corporation survey released Friday morning indicates that 19 percent of the public now says that an economic recovery is underway.
"While that's not a great number, it's significantly higher than the 12 percent who felt that way in January," says CNN Polling Director Keating Holland.
Thirty-four percent of people questioned in the poll says the economy is still in a downturn, but that's dropped five points from the 39 percent who felt that way at the start of the year.
According to the survey, nearly half the public says that a recovery has not started but that conditions have stabilized. The 46 percent who said the economy's stabilized is down three points from January.
Putting your money where Detroit's mouth is.
Wednesday proved a day of firsts for the Chevy Volt: General Motors assembled the first Volt at its Detroit-Hamtramck plant, and the Obama administration pledged to buy the first 100.
(snip)
The news comes one day after rival Nissan announced its own upcoming electric, the Leaf, will cost around $25,000 after a federal tax credit. GM CEO Ed Whitacre in January suggested the Volt will sell for a profit "in the low 30s."
But regardless of the price tag, it appears General Motors' largest investor will help the company move product: The Detroit Free Press reports the Obama administration has pledged to "purchase the first 100 plug-in electric vehicles to roll of American assembly lines" this year. That means the Volt.
The administration also announced it will purchase more than 5,000 hybrid vehicles to replace aging units in its own fleet.
By GottaLaff
Video via the DNC's Rapid Response team.
116. 116:
A new Web video from the Democratic National Committee (DNC) claimed more than half of the GOP lawmakers in Congress, including prominent members of leadership, were guilty of railing against the $787 billion stimulus act in the past year, only to have touted projects in their home states or districts as having created jobs.
The video says that 116 Republicans in Congress are guilty of "hypocrisy," a charge leveled by the DNC in recent weeks in defense of the year-old stimulus bill.
By GottaLaff
Traction? We got traction? How come nobody told me?
Congressional Democrats are celebrating what they say was their best week politically since Scott Brown’s victory in Massachusetts on Jan. 19.
After playing defense on the economy, the stimulus and healthcare for much of the past year, Democrats went on the offensive this week.
Democrats took advantage of the one-year anniversary of the passage of the economic stimulus package and a slow news week to blast Republicans for claiming credit for stimulus funds they opposed.
By GottaLaff
"Here's the problem with Republicans. It rains even on their birthday."
Messaging, messaging, messaging. G-damn the D's are stupid.
Washington(CNN) - Although the overall stimulus bill is unpopular, most of its basic provisions are favored by a large majority of Americans, according to a new national poll.
A CNN/Opinion Research Corporation survey released Friday morning indicates that 80 percent of the public favors government spending on roads and bridges, and 83 percent approves of aid to unemployed workers. Seven in 10 support the idea of spending some of that stimulus money on tax cuts, and 62 percent think it's a good idea to increase spending on mass transit projects.
Then why is the stimulus bill so unpopular?
"Because, as we have seen throughout the week, there is much skepticism that the bill is wasteful, full of politically-motivated projects, and has benefitted fat cats at the expense of ordinary Americans," says CNN Polling Director Keating Holland. "The positive aspects of the stimulus bill, such as infrastructure improvements and tax cuts, seem to have taken a back seat to those negatives."
By GottaLaff
Visit msnbc.com for breaking news, world news, and news about the economy
By GottaLaff
With a new employment report due Friday, Bloomberg reports economists believe the "worst U.S. employment slump in the post-World War II era may have almost ended in December, signaling the recovery will not be jobless much longer."Curses. Foiled again.
"Stimulus-driven gains in global demand mean American companies may need to start boosting payrolls in 2010 after eliminating 7.2 million jobs since the recession began in December 2007."
Mmmm, starting to wake up more with this nice news.
WASHINGTON – A fitful economic recovery is drawing strength from a stabilizing job market and signs that manufacturing will contribute to the rebound.
The latest sign was a government report Thursday that the number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week. And the four-week average for claims, which smooths out fluctuations, fell for the 16th straight week, to its lowest point since September 2008, when the financial crisis hit with full force.
Further evidence of a gradually healing economy was a report that orders to U.S. factories for big-ticket durable goods rose in November. The overall increase was less than expected. But excluding the volatile transportation category, the gains were twice what economists had forecast.
This is huge for my area. There are huge empty manufacturing buildings all over Elkhart from the defunct RV companies.
It was just four months ago that President Obama announced electric truck maker Navistar International would soon hire hundreds of locals to build electric trucks. This week, local leaders say another electric vehicle manufacturer is also interested in calling Elkhart County home.
“This is the cutting edge of plug-in, all-electric vehicles," said County Commissioner Mike Yoder.
Earlier this year, Think North America, a subsidiary of the Norwegian electric car manufacturer Think Global, said Indiana was on the short list of potential states to be home to its U.S. manufacturing operations. Oregon and Michigan were also on the list.
(snip)
But two months ago company officials came back. The potential site: an empty warehouse north of Middlebury, at Indiana 13 and County Road 2.
On Monday, Think North America spokesman Brendan Prebo told WSBT News that while this does not constitute a final decision, "we are at a point where we are focusing on negotiations in Indiana."
Hmm, there might be a pattern here.
Earlier Tuesday, President Obama said that at least $200 billion had been saved from the TARP program, savings that he plans to use to help fund his new job creation initiatives.
A few minutes later, Fox took that $200 billion figure and cut it by $198 billion, telling their audience in an on-screen graphic that the TARP savings would be just $2 billion.
Visit msnbc.com for breaking news, world news, and news about the economy
Visit msnbc.com for breaking news, world news, and news about the economy
By GottaLaff
The Treasury Department "expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit," reports the New York Times.
"The report could tamp down some of the public anger directed against both parties over the bailouts. Congressional leaders are already planning to use some of the program's money for economic stimulus and job creation."
Visit msnbc.com for breaking news, world news, and news about the economy
Anything that spends money and has us using less energy is okay with me.
WASHINGTON, Nov. 27 (UPI) -- A "cash for appliances" program of giving U.S. consumers rebates for swapping old appliances for new, efficient ones should be finalized soon, officials say.
Supported by $300 million from the economic stimulus package, the program will offer consumers rebates for buying energy-efficient refrigerators , dishwashers, air conditioners and other appliances to replace older, energy-wasting models, The Washington Post reported Friday.
(snip)
Much of the cash-for-appliances money won't be available until February, March or April, officials said. The program will be run by state governments, which must identify and enact their rebate plans with federal government funding and approval.
I heard yesterday that even The Krugman was feeling optimistic.
WASHINGTON – New claims for unemployment insurance fell more than expected last week, evidence the job market is slowly healing as the economy recovers.
Still, many analysts worry the nation could be in for a "jobless recovery" as the unemployment rate rises despite some overall economic growth.
The Labor Department said Thursday that first-time claims for jobless benefits dropped to a seasonally adjusted 502,000 from an upwardly revised 514,000 the previous week. That's the fewest claims since the week ending Jan. 3, and below economists' estimates.
The four-week average, which smooths fluctuations, dropped to 519,750, the lowest in almost a year. It has fallen by more than 20 percent since its peak in the spring.
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