Plant Closing

Mike: Thursday’s Jobless Claims report shows that weekly claims increased, but continuing claims decreased for the first time after increasing for the past 21 weeks. The four-week moving average, which smooths weekly volatility fell to 615,000. The news media is trumpeting the continuing claims decline without mentioning the effect of people losing their unemployment benefits. There […]

Continue reading about June 18 – Jobless claims increase to 608,000 – Continuing claims decrease to 6.69 million – Leading economic indicators up more than expected – Synovus to shed 650 jobs – Sacramento County OKs 800 layoffs – Exelon to shed 500 jobs – Clemson to chop 450 jobs

Mike: Wednesday is a quieter economic report day, but the MBA Purchase Applications report follows yesterday’s Housing Starts report, which showed some improvement from April’s record low. Unfortunately, the  MBA Purchase Applications report wasn’t the follow-through that many had expected. Purchase and refinance applications both fell as the U.S. mortgage applications plunge to near seven-month low report shows. […]

Continue reading about June 17 – Mortgage applications fall again – Michelin flattens 2800 jobs – 230 Lodi Unified workers to lose jobs – MTA reform to yield 300 job cuts – WSU cutting 360 jobs – 500 cuts at U of Tennessee

Mike: Plenty of reports dot the economic landscape this Tuesday. My guess is that the Housing Starts report will garner the most attention from both the green shoot and yellow weed crowds. The Producer Price Index and Industrial Production are also going to show the direction of the economy. I had to look around for a housing starts […]

Continue reading about June 16 – Housing starts improve from April’s record low – Credit cards ready to make deals to settle accounts – German E.ON may cut 9000 jobs – Lockheed sends 535 layoff notices, may cut 750 – MySpace cuts 420