The US private sector shed the smallest number of jobs in two years in February, a payrolls firm said Wednesday in a report signaling a healing labor sector as the economy recovers from recession.
Non-farm private payrolls fell 20,000 in February on a seasonally adjusted basis, payrolls firm ADP said, matching the consensus forecast.
“The February employment [...]
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US private sector sheds 20,000 jobs in February
March 3rd, 2010 by HardMoney Writer
Tags: economy recovers, households, recession, unemployment, us economic, us private sector
more...Obama won’t fill Fed seats this week
March 2nd, 2010 by HardMoney Writer
President Barack Obama wants to move quickly to fill vacancies on the Federal Reserve Board, but has made no decision yet and will not be announcing appointments this week, White House officials said on Tuesday.
Fed Vice Chairman Donald Kohn announced on Monday he will retire in June. His departure means Obama has three seats to [...]
Tags: barack obama, fed, Federal Reserve, us bank central, white house
U.S. economic growth revised up on inventories
February 26th, 2010 by HardMoney Writer
The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.
In its second reading of fourth-quarter gross domestic product, the Commerce Department said the economy grew at a 5.9 percent annual rate, rather than the [...]
Tags: business investment, businesses, commerce department, economy grew, inventories, US Economy
Secondary Sources: Recession Costs, Doomsday Cycle, Commercial Real Estate
February 24th, 2010 by HardMoney Writer
* Who Pays for Recession?:
On Economist’s View, Mark Thoma looks at who pays the cost of recession. “The recession is taking away opportunity for the young to gain employment experience, and many who are employed are working below their abilities in jobs they are likely to get stuck in for many years, if not forever. [...]
Tags: borrowers, commercial real estate, doomsday cycle, financial crisis, recession costs, unemployed
Economists see slow recovery taking hold
January 26th, 2010 by HardMoney Writer
Businesses expect to boost hiring and capital spending in the first half of the year as the U.S. recovery from the recession slowly continues, according to a new survey.
Since the fall of 2009 demand has edged higher in the goods-producing, finance and real estate industries, while other sectors such as transportation are seeing less drastic [...]
Tags: economy, financial crisis, news
Rep. Frank: Abolish Fannie Mae, Freddie Mac
January 26th, 2010 by HardMoney Writer
A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.
Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said Friday he supports replacing the two companies entirely.
“I believe [...]
Tags: bankruptcy, mortgage, obama, tax credit
Record number of young Americans jobless
January 26th, 2010 by HardMoney Writer
The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.
Teenagers have found it significantly harder to get a job since the recession began in late 2007, with black youths [...]
Tags: job, jobless, news, unemployment rate
Why the Fed Will Be Sidelined in 2010
December 22nd, 2009 by HardMoney Writer
The release of the Non-Farm Payroll Report for November along with the latest inflation data from the Bureau of Labor Statistics placed further into question the Federal Reserve’s free money policy. The spate of less bad news on the economy and increases in certain price levels has brought some of the bond vigilantes back from [...]
Tags: bank lending, central bank, Federal Reserve, hard money, interest rates, investors, lender, loan, Mortgage Backed Securities, mortgage issuance, mortgage loan, real estate
American Gold Trust Announces Release of Digital 24-Page Gold & Silver Coin Catalog
December 21st, 2009 by HardMoney Writer
American Gold Trust, one of the fastest growing coin companies in the world and a premier leader in the gold and silver industry, has announced the release of its new 24-page digital catalog. The first catalog of its kind to be released online, American Gold Trust’s digital coin catalog is meant to help investors who [...]
Tags: American Gold Trust, financial interest, hard money, hard money portfolios, investors
Bank files against Jay Miller
December 18th, 2009 by HardMoney Writer
Heritage Oaks Bank has joined the list of creditors who say that now bankrupt former North County lender Jay Hurst Miller owes them money, according to a recent filing with the U.S. Bankruptcy Court in Santa Barbara.
In the filing, bank Executive Vice President William Raver declared that Heritage Oaks made a $250,000 personal loan to [...]
Tags: bankrupt, borrower, hard money, hard money lender, lender, loan, money, real estate