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Archive for November, 2010
PrintCheck out this info chart from VisualEconomics.com.
It’s no surprise that raising a child is expensive, but how much is it really?
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PrintBlack Friday kicked off the Holiday shopping season to great start as data begins to trickle in. Below is some visual information.
Highlights:
212 million shoppers visited a store or website, 8.7 up from last year.
The average shopper spent $365.34, up 6.4%.
Online spending up 9% to $648 million
Total Black Friday spending would rise 9.2% to $45 billion.
Source: WSJ
Source: NYT
PrintPress Release BEA: Gross Domestic Product, 2nd quarter 2010 (second estimate)
Second estimate revises GDP from 2.0% to 2.5%
Advance Estimate Second Estimate
(Percent change from preceding quarter)
Real GDP………………………….. 2.0 2.5
Current-dollar GDP………………. 4.2 4.8
Gross domestic purchases price index…….. 0.8 0.8
The graph below from CalculatedRisk.com shows the quarterly GDP growth since the past 30 years.
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PrintThe Department of Labor reports unemployment (initial claims) statistics as follows.
“In the week ending Nov. 20, the advance figure for seasonally adjusted initial claims was 407,000, a decrease of 34,000 from the previous week’s revised figure of 441,000. The 4-week moving average was 436,000, a decrease of 7,500 from the previous week’s revised average of 443,500.”
These figures are still high and continued job losses may still be on the horizon.
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PrintCheck out this info chart from Visual Economics for suggested routes for investing.
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PrintThe Department of Labor reports unemployment (initial claims) statistics as follows.
“In the week ending Nov. 13, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 2,000 from the previous week’s revised figure of 437,000. The 4-week moving average was 443,000, a decrease of 4,000 from the previous week’s revised average of 447,000.”
These figures are still high and continued job losses may still be on the horizon.
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PrintHere’s another visual showing the impact of having the Bush tax cuts expire. The only thing that seem to be agreed upon by both parties is making sure that the lower and middle class retain their cuts, what to do with the upper class seems to be up in the air. Congress has till December 31st to renew or let expire. If the tax cut expires, the new income tax rate will be pre 2001.
Source: cnn finance
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Has the market gone bear? Or is it just a bad week of news? Out of the last 7 trading days, 5 closed down. China and Europe concerns continue to drive the U.S. market down. The Dow has retreated more that 400 points since than and fallen below a psychological point “11000.” Emotional trading has reentered the markets and has taken hold.
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As the economy continues its slow recovery from the “depression.” Below are the top 20 industries that have added jobs in 2010, and comparing the change since 2007.
Industry Jobs Gained 2010 Change from 2007
Admin and support 286,000 817,000 jobs lost
Employment services 262,000 591,000 jobs lost
Healthcare 204,000 738,000 jobs gained
Restaurants 143,000 150,000 jobs lost
Retail 128,000 1.1 million jobs lost
Mining 79,000 28,000 jobs gained
Religious and nonprofit groups 56,000 9,000 jobs gained
Salespeople and customer-service reps 36,000 437,000 jobs lost
Computer systems design 43,000 52,000 jobs gained
Transit and ground transportation 20,000 17,000 jobs gained
Hotels 27,000 124,000 jobs lost
Federal government 19,000 88,000 jobs gained
Management 16,000 63,000 jobs lost
Performing arts and recreation 24,000 96,000 jobs lost
Warehousing 12,000 30,000 jobs lost
Oil and gas extraction 11,000 17,000 jobs gained
Rail transportation 9,000 9,000 jobs lost
Waste management 8,000 3,000 jobs lost
Web portals and Internet publishing 6,000 11,000 jobs gained
Management and technical consulting 2,000 1,000 jobs gained
Source: RICK NEWMAN
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PrintOver $36 billion will be added to the federal deficit with the Republican plan to extend the Bush tax cuts for the rich. The Democrats plan to extend the cuts only to families making less than $250,000 a year and individuals making less than $200,000 a year, that accounts for 98% of Americans.
America’s 315,000 millionaires won’t be to happy either way since under the Republican plan their tax rate would be 24.6% compared to the Democrats plan with a tax rate of 29.9%.
I wouldn’t mind joining their elite club 
Source: Joint Committee on Taxation | The Washington Post – August 12, 2010
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