Jobless Benefits Increased by 62,000

Hi Fellow Entrepreneur,

The Labor Department reported Thursday that new applications for jobless benefits increased by 62,000 to a seasonally adjusted 589,000 in the week ended January 17 from a revised 527,000 the prior week. Economists had expected a reading of 543,000.

U.S. employers cut 2.6 million jobs last year. The total number of people collecting unemployment benefits increased to 4.607 million.

Millions of Unemployed… Millions!

And, that’s just here in the USA.  What must the numbers be worldwide?

Job security really is a thing of the past if you are an employee.  The only job security in this day and age is your own business where you control the costs and you control the profits.

Learn how to start your own FREE (really!) home business with multiple streams of income that deflect any recession at:

Start now for FREE and begin your walk to success… one easy video tutorial at a time.

More business information coming soon…

Wes Waddell BLOG

> Rantings — Wes @ 11:40 am

January 26, 2009

Construction Spending Down 23.4%

Last Week in the Business News

On Monday, January 5, the Commerce Department reported total construction spending fell 0.6% in the month of November. Economists had anticipated a much steeper drop of 1.3%. The primary cause for the drop was residential construction spending, which fell in November by 4.2% to a seasonally adjusted annual rate of $328.3 billion. Residential construction spending is down 23.4% from a year ago.

On Tuesday, the National Association of Realtors said pending sales for existing homes in November fell to the lowest level in the eight-year history of its index. The trade group said its seasonally adjusted index fell 4% to 82.3 in November from a revised 85.7 in October. Economists expected a reading of 88.

The Commerce Department reported factory orders declined by 4.6% in November, nearly double the 2.5% drop economists expected. Orders have been falling since August, with a 6% drop in October, the biggest decline in eight years. The report showed that demand for durable goods, items expected to last three or more years, fell a modest 1.5% in November. Durable goods dropped 8.5% in October. Demand for nondurable goods, items such as food, paper and petroleum products, dropped by 7.4% in November following a 3.8% decline in October.

The Labor Department said on Thursday the number of people continuing to claim jobless benefits rose by 101,000 to 4.61 million, just slightly above the 4.5 million economists expected.  Unfortunately, that doesn’t count the unemployed that don’t qualify for unemployment benifits because they were self employed and no longer make enough to survive on.

On Friday, the Labor Department reported that the nation’s unemployment rate increased to 7.2% in December from 6.8% in November as businesses cut 524,000 jobs. Employers are also cutting workers’ hours. The average work week in December fell to 33.3 hours, the lowest level on record dating back to 1964.

In other news, the New York-based real estate data company Radar Logic Inc. reported that motivated sales, which include foreclosure auctions and banks selling homes taken over for non-payment, in the 25 largest U.S. metropolitan areas increased 193% between January 2008 to October 2008.

Upcoming on the economic calendar are reports on retail sales on January 14 and consumer inflation on January 16.

So, what are you doing to protect yourself from all this economic downturns?  It’s very clear now, more than almost any other time in history that having your own home business is the only safe way to protect yourself from all the economic trends that you can’t control.

You can earn just a little extra spending cash or even earn better than a full time income with just a little hard work a few hours a few days a week.

Learn for FREE how to get started in  your own FREE Home Business at:

Because… isn’t it time you started to protect yourself and your family from the out of control economy?



> Rantings — Wes @ 11:15 am

January 13, 2009