• State and Local Government Job Losses a Serious Drag on Weak Job Growth

    The unemployment rate edged down to 8.9 percent in February, as the Labor Department reported that the economy generated 192,000 new jobs.  This number is undoubtedly inflated some by the weather-weakened January performance, when the economy generated just 63,000 jobs.  The unemployment rate has now dropped by 0.9 percentage points in the last three months. […]

  • House Prices Continue Sharp Decline

    The Case-Shiller 20-City index fell sharply again in December, dropping a full percentage point from its November level.  This is the third consecutive month that it has fallen by at least 1.0 percent.  It is now down by 4.3 percent from its peak in July.  Nineteen of the 20 cities had a drop in prices.  […]