Free Republic

March update: civilian noninstitutional population: 239.0 million; Civillian labor force: 153,406, Employed 139,864... Which means that the Labor Force Participation rate continues to be at a 25 year low of 64.2%.

New home sales plunge to record low in February REUTERS — 6 MINUTES AGO WASHINGTON (Reuters) - New single-family home sales unexpectedly fell in February to hit a record low and prices were the lowest since December 2003, a government report showed on Wednesday, suggesting the housing market slide was deepening. The Commerce Department said sales dropped 16.9 percent to a seasonally adjusted 250,000 unit annual rate, the lowest since records began in 1963, after an upwardly revised 301,000-unit pace in January. Sales plunged to all-time lows in three of the four regions last month. Economists polled by Reuters had...

US house prices have tumbled to their lowest in almost a decade, raising the prospect that even a recovery in the labour market may not be enough to pull prices from their slump. The median price of a previously owned home in the US fell to $156,100 (£96,800) in February, the lowest level since 2002, the National Association of Realtors (NAR) said on Monday. The overall volume of purchases declined 9.6pc during the month, weaker than was expected on Wall Street. The collapse in house prices helped precipitate America's worst recession since the Great Depression, and a recovery is proving...

Underemployment surged to 19.9% in February from 18.9% at the end of January. Unemployment, as measured by Gallup without seasonal adjustment, hit 10.3% in February -- up from 9.8% at the end of January. The U.S. unemployment rate is now essentially the same as the 10.4% at the end of February 2010. ... Underemployment, a measure that combines part-time workers wanting full-time work with those who are unemployed, surged in February to 19.9%.

Feb. 24 (Bloomberg) -- Sales of new homes in the U.S. unexpectedly fell in January to the lowest level on record, a sign that an extension of a government tax credit may not be enough to rekindle demand. The report underscores Federal Reserve Chairman Ben S. Bernanke’s comments today that the economy is in a “nascent” recovery the still requires low interest rates. Homebuilders face competition from foreclosed properties that have driven down prices at the same time companies are reluctant to create jobs. “The foreclosure flow is robbing demand from the new-homes market and that process seems to be...

Premiums more than quadruple for some as the state fund has a shortfall. Businesses are being hit with large premium increases to prop up Colorado's broke unemployment-insurance fund. Record numbers of unemployment claims caused the fund to go broke this year, forcing Colorado to borrow, so far, $368.5 million from the U.S. government. At least 40 other states also are borrowing from the federal government to cover their fund deficits. Colorado's unemployment-benefit payments rose from $305 million in 2005 to $1.06 billion in 2009.

Breaking News: Weekly Jobless Claims Rise Unexpectedly, Up 26,000 to 436,000

America's bedraggled labor market got a boost today with the latest weekly initial jobless claims unexpectedly plunging 21,000 to 434,000 -- their lowest level since July. A Bloomberg survey had expected the report to show a total of 455,000 new claims. Last week's total was revised 3,000 higher to 455,000. Perhaps even better, the four-week moving average declined 5,500 to 453,250. Economists emphasize this measure because it smooths out anomalies due to holidays, strikes, weather-related layoffs and other temporary factors. Continuing claims also plummeted, by 122,000 to 4.36 million. Some of that decline reflects Americans whose benefits have been exhausted,...

The U.S. economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell and private hiring was less than expected, hardening expectations of further Federal Reserve action to spur the recovery. Nonfarm payrolls dropped 95,000, the Labor Department said on Friday. Private employment, a better gauge of labor market health, increased 64,000 after rising 93,000 in August. A total of 77,000 temporary jobs for the decennial census were terminated last month. Job seekers wait in line to have their résumés reviewed. Robyn Beck | AFP | Getty Images Job seekers wait in line to have their...

ADP is private nonfarm employment only (no government jobs). The consensus was for ADP to show an increase of about 23,000 private sector jobs in September, so this was way below consensus. The BLS reports on Friday, and the consensus is for no change in payroll jobs in September, on a seasonally adjusted (SA) basis, with the loss of around 78,000 temporary Census 2010 jobs (+78,000 ex-Census).

NEW YORK, Sept 23 (Reuters) - Weaker-than-expected economic data boosted U.S. government securities prices on Thursday and seemed to increase the likelihood the Federal Reserve would buy debt to aid the economy. An unexpected rise in new U.S. jobless claims and overnight reports showing a slower pace of growth in the euro zone's services and manufacturing sectors boosted demand for safe-haven government debt. The benchmark 10-year Treasury note US10YT=RR was up more than half a point, its yield easing to 2.50 percent from 2.57 percent late on Wednesday. The 30-year Treasury bond US30YT=RR, rose more than a point, its yield...

WASHINGTON -- The tally of newly laid-off workers requesting unemployment benefits rose last week for the first time in five weeks as the job market remains sluggish. Initial claims for jobless aid rose by 12,000 to a seasonally adjusted 465,000, the Labor Department said Thursday. Many economists had expected a flat reading or small drop. The rise suggests that jobs remain scarce and some companies are still cutting workers amid sluggish economic growth. Initial claims have fallen from a recent spike above a half-million last month. But they have been stuck above 450,000 for most of the year. Claims typically...

WASHINGTON — U.S. claims for unemployment benefits unexpectedly fell last week, dropping to a two-month low, according a government report on Thursday that hinted at some stability in the labor market. Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 450,000, the lowest since the week ended July 10, the Labor Department said.

The BLS has announced that as a result of the Labor Day weekend, 9 states (among which the biggest one California) did not report initial claims data to the bean counters, so instead the government had to "estimate" what the data would have been: yep, estimate, what the data was in these nine states. Official data is now made up on the fly. This US economic data reporting has just entered the twilight zone. Also, when the data is officially made up, it is not that difficult to get data that is "better than expected." The full list of states...

I don't even know why anyone listens to all these "experts" and their economic predictions anymore. Have any of them even been close? They never get the unemployment numbers right, either missing estimates by many thousands and even then the "official" numbers are constantly being revised up or down... And good grief the housing numbers. I can almost understand them missing estimates by 1,2 or even 5%... but 27% WTH!??!?! Are they even looking at the same data the .gov is or what? And if we are dealing with mathematics here, with economics how can half of economists say things...

"New orders for long-lasting U.S. manufactured goods rose far less than expected in July and, excluding transportation equipment, posted their largest decline in 1-1/2 years, according to a government report on Wednesday that pointed to a slowdown in manufacturing." "The Commerce Department said durable goods orders rose 0.3 percent after a revised 0.1 percent fall in June. Excluding transportation, orders dropped 3.8 percent—the biggest fall since January 2009—after rising 0.2 percent in June." "Analysts polled by Reuters had forecast orders increasing 2.8 percent last month from June's previously reported 1.2 percent fall."

A key measure of manufacturing in the Mid-Atlantic region fell unexpectedly in July to its lowest level in a year, while an economic forecasting gauge rose less than expected, further signs that the US economic recovery is slowing. The Philadelphia Federal Reserve Bank said its business activity index fell to minus 7.7 in August from July's plus 5.1. Any reading below zero indicates a shrinking in the region's manufacturing. The August reading was the lowest and also the first contraction since July 2009, when the economy was recovering from the credit crisis. "We see data like this and it kind...

Santelli on the floor of the exchange.

The number of U.S. workers making new claims for jobless benefits unexpectedly climbed last week to the highest level in six months, adding to concerns about the economy's weakness. Some analysts think the data are still being distorted by seasonal adjustment problems associated with annual factory shutdowns by car makers. Yet there is no denying U.S. labor conditions are poor.

HOLIYAH SOETORO SABAH, “LIA”, OBAMA’S ADOPTED SISTER What information was taken to her grave? You haven’t heard of Lia? Neither had we. The unknown, until now, adopted sister of Barack Hussein Obama died unexpectedly February 26, 1910. The USA media didn’t cover the story of this woman nor was her name found until the last few days. A competent WTPOTUS sleuth, Leza, and other researchers uncovered an article about an adopted “brother” in Indonesia, named Lia or Lee. Following up on a tidbit of information and other clues, more information was uncovered. Lia was an adopted sister, not a brother....