Unemployment goes up, home sales go down
Once again, the United States has broken its own record, this time in the unemployment category.
Personal Money Store provides you with faxless payday loans and details on the deepening recession.
The United States continues to reach for greatness, setting new records and leaving the old ones in the dust. Unfortunately, these “triumphs” are in the “highest number of unemployed workers” and “lowest number of homes sold” categories.
Now more unemployed than ever!
Unemployment claims in the U.S. hit a record peak in mid-January. Last week 588,000 new claims were filed for unemployment insurance, the highest number ever recorded. Records date back to 1967. The number of people who continued collecting unemployment during the week of Jan. 17 after filing the previous week was 4.78 million.
I guess Americans don’t have to make a choice anymore when faced with the old saying “Go big or go home.” When it comes to unemployment, they’re doing both. Check out your faxless payday loans store’s daily update on big layoffs.
Home purchases take big nosedive
Despite all the efforts to rescue the housing market, new home sales plunged 14.7 percent in December, another record. December marked the slowest home sales in the United States since 1963, when the data started being recorded.
Overall sales in 2008 fell just short of record-breaking lows. Builders sold 482,000 homes for the entire year. That’s the lowest number of new homes sold since 1982, when the economy scored well in the “dismal home sales” category with 412,000 sales.
Sticking to it
It looks like the U.S. economy will continue its record-breaking performance for some time. In fact, according to Forbes.com “There is no end in sight.” Michael Darda, chief economist at MKM Partners in Greenwich Connecticut, is slightly more optimistic.
“I don’t think we are going to see a recovery until 2010. It’s possible the economy can bottom sometime in the fall or the winter, but it will be pretty rough sailing ahead, especially for the next quarter or two,” Darda said.
Michael Darda
Not very cheerful news, but it’s better than “no end in sight.”
Your faxless payday loans site does not encourage gambling, but if you are going to do it anyway, now would be a good time to bet on more record-breaking performance in the U.S. economy.
Wow… things are definitely getting out of hand. It seems like things are getting worse by the minute. Obama’s economic stimulus plan needs to get on the go. If they allow further delay, the nation’s welfare and security will become a more complex puzzle to solve. These government officials need to quick bickering about irrelevant issues and focus more on how to quickly get the economy back on track or at least, stabilize it.
Things are out of hand. Thankfully, Congress seems to be remembering what we pay them for and they are giving the stimulus bill top priority. But I think that Mr. Darda is probably right in that there will be a bottoming out, and from there we’ll bounce back. The average length of recession has already been passed – every passing month increases the chances of snapping back.