Free Republic

FXstreet.com (Barcelona) - A fall of 6.4 points in November was registered by the Consumer Confidence indicator released by the Conference Board. Data fell from 75.1 (revised from 73.7) to 65.1, coming much lower than the expected 70.3.

It’s a lucky thing for Tesla Motors shareholders that the U.S. Department of Energy loves the company’s loan applications. Without the hundreds of millions of dollars has received from the federal government this year, the electric-car maker’s financials would be gasping for air as 2012 winds down. Given the ugly state of Tesla’s finances — and the company’s sky-high valuation: almost $4 billion — it will rank among the top candidates in Silicon Valley for a 2013 stock collapse, unless it receives significantly more cash next year. The Palo Alto, Calif., company’s financials are, in fact, in worse shape even...

WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits fell by 25,000 to a seasonally adjusted 370,000 in the week ended Dec. 1, the Labor Department said Thursday. That's the third straight decline and lowest reading in one month. Initial claims from two weeks ago were revised up to 395,000 from an original reading of 393,000, based on more complete data collected at the state level. The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of...

U.S. private-sector employers added 118,000 jobs in November shy of economists' expectations, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 125,000 jobs. October's private payrolls were revised slightly down to an increase of 157,000 f rom the previously reported 158,000.

<p>U.S. manufacturing unexpectedly contracted in November, falling to its lowest in over three years in a sign the sector may be struggling to gain traction, according to an industry report released on Monday.</p> <p>The Institute for Supply Management (ISM) said its index of national factory activity fell to 49.5 in November from 51.7 the month before. The reading was shy of expectations of 51.3, according to a Reuters poll of economists.</p>

Barack Obama is set to begin his second term, new statistics on America’s poverty rate indicate that nearly 50 million Americans, more than 16 percent of the population, are struggling to survive. New figures released by the Census Bureau this week found a spike in poverty numbers last year, going from 49 million in 2010 to 49.7 million last year. The numbers may come as a surprise to Congress, which estimated in September that the poverty rate would drop to 46.2 million.

Get ready for the "it's all Sandy's fault" barrage, because the post-reelection status quo sure will desperately need it today. The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street "experts" who set expectations were unable to foresee the Sandy effect that every "macrotourist" on Twitter apparently is so very aware of. Also,...

WASHINGTON (MarketWatch) - The damage caused by Hurricane Sandy sent U.S. jobless claims soaring by 78,000 in the week ended Nov. 10 to an 18-month high of 439,000, according to the latest government figures. A Labor Department official on Thursday said claims surged in the eastern parts of the country that laid in the path of the storm....

Owners of guns have been stocking up because they are concerned about a potential tightening of regulations on assault weapons in the president's second term. In October the number of background checks on people applying to buy guns, an indicator of future sales, increased by 18.4 per cent. There was a similar jump when President Obama was first elected in 2008. A total of 12.7 million background checks were carried out that year, up from 11.2 million the year before, and the number has been rising since then. Shares in weapons manufacturers like Smith & Wesson and Sturm, Ruger also...

A major Denver event planning company says the Alabama Democratic delegation still owes it about $60,000 for work performed in September at the Democratic National Convention in Charlotte. ... Invoices show the agreed upon cost was about $100,000. The Alabama Democrats paid about $40,000 up front, agreeing to pay the balance at the conclusion of the convention. Wright says Bradley Davidson, the executive director of the Alabama Democratic Party, shook his hand and promised the money would be paid in Charlotte. “And I shook (Davidson’s) hand and he said, “100 percent you’re getting the money,” and he guaranteed it,” Wright...

Remember how the Bureau of Labor Statistics put out a bizarrely low jobless claims report last week, producing breathless coast-to-coast media coverage of the lowest claims level in four years? Remember how it turned out they produced this report without having received all of the necessary data? (BLS still won’t say exactly what was missing; it has been theorized that it had something to do with the numbers from California, which delayed calculation of the traditional “seasonal adjustments.” However, the crew at ZeroHedge disputes the California theory, growling that in truth, “nobody at the Department of Labor knows what is...

(Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, reversing a sharp decline in the prior week but still pointing to a labor market that is slowly healing. The prior week's figure was revised up to show 3,000 more applications than previously reported to 342,000. A Labor Department official said it appeared that state-level administrative issues were distorting the data.

WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits jumped 46,000 to a seasonally adjusted 388,000 in the week of Oct. 7-13, the Labor Department said Thursday, erasing the sharp drop from the prior week. Claims had fallen two weeks ago to a four-year low, but the decline mainly stemmed from a statistical quirk in the data that often happens at the end of a quarter and it was not reflective of a rapidly improving labor market.

U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama's reelection hopes next month. The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

SIDNEY, Ohio -- Republican presidential candidate Mitt Romney received a warm reception on a cold evening at the Shelby County Fairgrounds Wednesday as he addressed a crowd estimated at more than 8,500 people, more than eight times the number expected to turn out. ~ snip ~ Chris Gibbs, chairman of the Shelby County Republican Party, said the event was a "huge undertaking" but was an undeniable success. "The Romney team was meticulous in organizing, and the ability to put on a production like this in such a short amount of time is fantastic," Gibbs said. Attendance far surpassed the initial...

WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits fell sharply in the latest week to their lowest level since February 2008, the Labor Department reported Thursday. The number of initial claims in the week ending Oct. 6 fell 30,000 to 339,000. The decline was unexpected.

Calculated Risk had an interesting but misleading post A decline in the participation rate was expected due to the aging population. This decline in the participation rate has been expected for years. Here are three projections (two from before the recession started). The key to these projections is that the decline in the participation rates was expected: 1) From BLS economist Mitra Toossi in November 2006: A new look at long-term labor force projections to 20502) From Austin State University Professor Robert Szafran in September 2002: Age-adjusted labor force participation rates, 1960–20453) BLS economist Mitra Toossi released some new projections...

Magically and providentially, Obama has enjoyed the largest one-month drop in unemployment since he got elected thanks to the greatest single month of job creation since 1983- all just weeks before ballots hit for his reelection bid. “The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office,” reports the Associated Press “a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign.” Yeah; we’re all REAL surprised by this. According to the AP, Jack Welch, the retired former CEO of General Electric, said...

Even if the U.S. government wanted to manipulate monthly jobs figures, it would be impossible to accomplish, said a former head of the U.S. government’s labor statistics agency. Accusations that the government had manipulated the latest employment report spread across Twitter and other forums Friday after the U.S. unemployment rate fell to its lowest level since President Barack Obama’s inauguration. Among those questioning the better-than-expected report was former General Electric Chief Executive Jack Welch, who tweeted the suggestion that the “unbelievable jobs numbers” were fabricated to help Obama’s electoral chances in next month’s presidential election. But, Keith Hall, who served...

NEW YORK (CNNMoney) -- Don't expect Friday's jobs report to swing the election. In all likelihood, it will show more of the same sluggish job growth the U.S. economy has seen for months. Economists surveyed by CNNMoney predict the September jobs report, released at 8:30 a.m. ET, will indicate that employers added 110,000 jobs during the month.