Labor/Economy
Economy Watch: U.S. Home Sales Head for the Cellar
NAR reports that home sales hit a low for 2011 in May; HUD approves a program designed to help unemployed homeowners pay their mortgages; and Greece is looking at bailouts coupled with austerity.
Economy Watch: IMF to Greeks: More Austerity or Else
The IMF warns of “large global spillovers” if Greece doesn’t tighten the reins on its debt; Wal-Mart fends off its Supreme Court discrimination suit; and the government files suit against J.P. Morgan Chase and Royal Bank of Scotland Group for selling bad mortgage bonds to credit unions.
Economy Watch: Leading Economic Indicators See Uptick
The Conference Board’s Leading Economic Index registered a bump up in May, but consumer sentiment dropped in early June. And large numbers of corruption charges are moving through Chinese courts.
PODCAST: Economy Watch Weekly with Dees Stribling
For the week ending June 17, good news came in about gas prices and housing starts, but economists are less optimistic about U.S. predictions for the year. And the eurozone has its own problems, with Greece and Spain battling austerity issues.
Economy Watch: Housing Starts See Surprising Uptick in May
The homebuilding industry saw a break in the clouds in May; banks can’t keep up with the foreclosure process; and last week had fewer jobless claims than the week before.
Economy Watch: Consumer Prices Edge Up, Investors Gnash Their Teeth
The Consumer Price Index posts its smallest increase since November; homebuilding sentiment is gloomy; and overseas visits to the U.S. increased in the first quarter.
Economy Watch: Retail Sales Edge Down Because Fewer Buy Cars
Lack of auto sales pushed retail sales down in May; gas pushes up wholesale prices; and there may be hope for the labor market.
Economy Watch: Economists Say Fed Should Take a Breather
Economists are less optimistic than two months ago; Obama’s Council on Jobs and Competitiveness proposes various government actions; and S&P downgrades Greek debt.
Economy Watch: Online Data Thieves Hit IMF, Rouge State Suspected
The IMF’s computer systems have been hacked; a McKinsey Global Institute report outlines the immensity of the task of restoring the labor market; and the cost of TARP has shrunk more than expected.