Homes sales snap losing streak, jobless claims rise

Comments (25)
Bighammerman wrote:

Things are getting much worse. Companies are automating because Obama has made it very expensive to hire people. Obama has failed and the American citizen is suffering for it. Obama needs to be removed from office through the impeachment process. The Senate should start the process today.

Jan 23, 2014 9:18am EST  --  Report as abuse
tmc wrote:

Why is it that we all seem to know that politicians have been bought and paid for by big business via their lobbyist, campaign contributions, and other means, but yet most people still blame the politicians for the woes of the country like @Bighammerman above. I think it shows how well the systems actually work. Politicians are blamed for everything and corporate America is rarely blamed for anything. Freedom of the press belongs to those that own one. And the People don’t own one. Oh, forgot about PBS… they haven’t quite killed it yet.

Jan 23, 2014 9:55am EST  --  Report as abuse
SaveRMiddle wrote:

And of these 326,000 initial claims, how many will soon find they have just permanently surrendered a living wage job for something far less?

The quality of life in this great nation continues to be quietly and systematically forever dismantled as politicians take credit for that accomplished on behalf of only the multinationals.

Jan 23, 2014 10:22am EST  --  Report as abuse
Auster wrote:

First – translating an increase of 1,000 to a headline of “U.S. jobless claims up modestly” is nonsense, because a change of 1,000 is slight at best, and more likely statistical noise when considering that this is a change of 0.3%.

Second, to Bighammerman who said that things are getting much worse, a look at jobless claims over the past 15 years shows that we are at the level of jobless claims seen during the GW Bush administration (http://www.calculatedriskblog.com/2014/01/weekly-initial-unemployment-claims-at_23.html).

Companies have been automating since the dawn of the Industrial Age, and to tie the current stagnation of new job growth to Obama is nonsense. However, it has been hurt by Republican policies to give tax breaks to the rich. This redistribution of our country’s wealth to the top 1-percenters has hurt the ability of the middle class to start new businesses and better grow the economy.

Jan 23, 2014 11:30am EST  --  Report as abuse
Harry079 wrote:

Labor market trend improving?

Minimum wage jobs?

Jan 23, 2014 11:34am EST  --  Report as abuse
ineeditbad wrote:

Nice Way to Sugar Coat the Job Market…Anyone really see through this Obvious attempt to hide Bad News which has been Consistent for 6 Years now…

Jan 23, 2014 12:18pm EST  --  Report as abuse
ineeditbad wrote:

To: Harry079 wrote:
Yep. McDonald’s, Wendy’s, Taco Bell all waiting for us…I’m an Engineer in the Computer Industry, Salary keeps going Down, Hours Keep Rising…H1B Visa’s still flowing…Corporate Driven, no doubts…

Jan 23, 2014 12:26pm EST  --  Report as abuse

@ineeditbad, this is not good or bad news, this is basically a wash, and the job market is MUCH better then it was 6 years ago, considering that 6 years ago we where losing ~500K jobs a month and now we are gaining ~100K a month. Can it be better, of course it can, we need the GOP to come on board with some actions to address income inequality and other issues, till then we will be stuck in a rut.

Jan 23, 2014 12:35pm EST  --  Report as abuse

Too add, or we could not elect the GOP back into office in the next election.

Jan 23, 2014 12:36pm EST  --  Report as abuse

@auster, good points, but do not waste your time with bighammerman, he is simply a racist who does not like that a darker skinned man is POTUS. He is dominated by ignorance, I have tried to show him the error of his ignorant thinking, you can lead a horse to water but you cant make him drink.

Jan 23, 2014 12:41pm EST  --  Report as abuse
gcf1965 wrote:

“we are at the level of jobless claims seen during the GW Bush administration” – but what is your excuse for the pathetic labor force participation. If the unprecedented millions that have left/been kicked out of the job market were counted, the labor market would accurately reflect the miserable state that it is really in. Any statistic looks good as long as you don’t count the data that goes against your predetermined conclusion

Jan 23, 2014 12:49pm EST  --  Report as abuse
bertanderson wrote:

It looks like home sales are picking up and prices have risen over the lows a few years ago. I’m not sure if some of these sales are large institutional investors who have picked up large blocks of homes and condos on speculation and hope to sell into a growing market. Further, interest rates are rising quickly in which we may see a rush of people putting homes they recently bought back on the market. I was looking at a few areas and saw prices rising from 2009 to 2012 and now I see them coming down. That is contrary to the recent report. Let’s see where the market is at the end of 2014. I’m looking for further cash investment…i.e. without a mortgage…and expect home prices to come down (maybe not to the lows but much lower) by the end of 2014 as interest rates rise. There is still a lot on the market. I suspect at least 10 years to correct from the devastation.

Jan 23, 2014 12:59pm EST  --  Report as abuse
bertanderson wrote:

The deregulation of banks and the investment industry started with Reagan and continued with other largely Republican politicians. The rich got rich on the backs of common hard working middle class people. The country has been taken apart bit by bit (no more manufacturing anywhere) as a result of the deregulation and huge tax reductions of big corporations. The US government is bankrupt, face it! When is the country going to wake-up and realize that extreme deregulated capitalism doesn’t work. It leads to greed and corruption that results in drastic government social moves like bank bailouts and automotive bailouts and mortgage company bailouts and on and on. All this to be again paid for by the common hard working middle class people. Please increase taxes and help this country.

Jan 23, 2014 1:11pm EST  --  Report as abuse
foramnifera wrote:

The national economy will not improve until this economically illiterate administration and its minions are gone. For the record, within 30 days of first taking office, Obama and the Democrat controlled hill doubled the national debt unilaterally and then gave millions away to “stimulate” the economy. Those millions are still unaccounted for, and was selective payoffs to states and their politicians/cronies for supporting Obama. This administration keeps spending and promising monies we do not have. ObamaCare is icing on the economic cake.

Jan 23, 2014 1:32pm EST  --  Report as abuse

What percentage of new home sales are from institutional buyers and flippers? Isn’t it a fact that over 60% of all home sales are in cash, and doesn’t that show us that it’s institutional/ corporate buying that is taking place, and isn’t that in fact why the cost of homes is going up, in fact going up beyond the average income level of real people, non-institutional buyers? How is all of this good for middle America? To answer my own question, it isn’t.

Jan 23, 2014 2:26pm EST  --  Report as abuse
FasihSandhu wrote:

Since January 6, 2014, the Silicon Valley, the Silicon Alley and the global markets have witnessed a total influx of over $10B in announced investments into the market segments of cloud computing, enterprise mobile computing, x86 computing, home automation and the industrial internet including IBM’s investment of $1B into its Watson Group, a new business unit dedicated to the development and commercialization of cloud-delivered cognitive applications and services, $1.2B to expand IBM`s global cloud data centers footprint from 27 to 40 by end of 2014, and $2.3B to divestiture its x86 computing business, $1.54B of VMware to become a leader in the Enterprise Mobile Computing challenging the incumbent, BlackBerry, $3.2B of Google to acquire Nest Labs, GE’s acquisitions of approximately $1.06B of strategic assets from Thermo Fisher Scientific to boost to expand and accelerate the life sciences technologies and API Healthcare that gives health care providers real-time access to data for improving workforce management and patient care for an undisclosed amount.

The growth of the tech sector will generate a lot of demand for the skilled workforce that could understand the dynamics of the interplay among the Cisco’s Internet of Everything, GE’s Industrial Internet, Big Data (IBM Watson, SAP HANA, Pivotal AX), Cloud Computing (IBM SoftLayer, AWS, Google), Mobile Computing, and Social Media, and how the IoE and Industrial Internet could usher the Vendors’ Ecosystem Partners and Clients into new innovations, business architectures, operating models, risk management and HR practices. More on it at http://www.gghc.ca/tmt-investments.html

Jan 23, 2014 3:46pm EST  --  Report as abuse
bertanderson wrote:

How do you create jobs when manufacturing doesn’t exist? We are in a global job absent situation. Unemployment is at 30% for certain age groups in European countries. Again, I argue that deregulations has allowed big corporations to move jobs offshore with no penalties whatsoever. In fact, these companies were rewarded since they improved their bottom line for the 1% rich. The jobs that have gone offshore, are gone for good. Why do you think China and India’s economy is growing so quickly. They have millions of people that will work for almost nothing. Those jobs are never coming back to North America. How is the US government going to create jobs out of thin air? The retail business is shrinking as people move to on-line shopping. The retail and service sector were the last businesses left in North America employing people with the exception of growing government jobs. Manufacturing has all gone offshore. How many people can work in the tech sector? How many phones or ipads or search engines or social networks does one need? Look at Detroit, the jobs aren’t coming back there. How is the government going to create jobs for people in Detroit? GM doesn’t care, they’ve been bailed out and have recovered. The jobs that are out there are for people to work for minimum wage at Walmart or McDonalds. A Nation cannot be founded on this type of employment opportunities. We are in real trouble. We need to bring back manufacturing to the country, no more moving offshore to help the stock. I hope it’s not too late.

Jan 23, 2014 4:42pm EST  --  Report as abuse
gcf1965 wrote:

bert – you are right – “The jobs that are out there are for people to work for minimum wage at Walmart or McDonalds” That is why they are now pushing for these jobs to be “living wage” jobs instead of the minimum wage positions they should be, because they are aware that real jobs are scarce and will continue to be scarce as long as “this economically illiterate administration and its minions” are in power

Jan 23, 2014 5:09pm EST  --  Report as abuse
jambrytay wrote:

Too much false gloom and doom here….quick reality check:

The US is a huge global player in manufacturing. We’re ahead of everyone in the world in total manufacturing output except the Chinese, but we’re way ahead of them in manufacturing productivity. The Chinese tend to win in the lower margin, compete on price type segments; doesn’t seem like something we should be killing ourselves to claw back into. Outsourcing to increase stock prices benefits many more than just the 1% as about 50% of Americans own stock either outright, through mutual funds, through 401k’s, or other pension plans. Besides, companies who outsource are only responding to what the consumer wants, i.e. we buy from the company offering a lower price. Part of the company being able to offer the lower price was because they’ve outsourced their call center (or whatever).

Jan 23, 2014 7:07pm EST  --  Report as abuse
WeAreLosingIt wrote:

Funny how last week when new u/e claims FELL by a scant 2000, Reuters declared all is well. Now this week they go back up, and Reuters decides to use the 4-week moving average to cast the numbers in a better light…up and down and up and down…US economy aint goin nowhere

Jan 24, 2014 2:07pm EST  --  Report as abuse
Crash866 wrote:

USAPragmatist2
Race…really…

Jan 24, 2014 2:24pm EST  --  Report as abuse
Crash866 wrote:

jambrytay
Your reality…and the recession never happened either…and I am Santa Claus & the Easter Bunny…

Jan 24, 2014 2:25pm EST  --  Report as abuse
Crash866 wrote:

USA…
@ bighammerman, good points, but do not waste your time with the lemmings, the are simply elitists who only like that a POTUS that pushes their progressive liberal agenda. They are dominated by ideology, I have tried to show them the error of their elitist thinking, you can lead a donkey to water but you cant make him drink.

Jan 24, 2014 2:30pm EST  --  Report as abuse
Crash866 wrote:

bertanderson
“Please increase taxes and help this country.” Yikes!! spoken like a true progressive liberal lemming…by the way throwing money at the problem by playing Robin Hood won’t fix the problem as much as you would like it too.

Jan 24, 2014 2:37pm EST  --  Report as abuse
jambrytay wrote:

Crash866, a little help please….which part of what I said do you specifically disagree with?

Jan 24, 2014 10:00pm EST  --  Report as abuse
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