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Tag Archives: recession

Louisiana's unemployment claims soar

BATON ROUGE, La. — First-time claims for unemployment insurance in Louisiana for the week ending Feb. 6 increased 23 percent over the previous week because of a temporary shutdown in the transportation equipment sector. The Louisiana Workforce Commission says there were 4,702 initial claims in the latest count. That’s up from the previous week’s total of 3,818. For the comparable ...

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White House defending stimulus spending

WASHINGTON — President Barack Obama, defending his economic stimulus plan on its first anniversary, is dispatching his Cabinet across the country to try to calm an anxious public as Democrats head into potentially devastating midterm elections. A weeklong push to highlight the stimulus program’s first year was starting with a Tuesday trip by Vice President Joe Biden to hard-hit Saginaw, ...

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Big Easy sees meetings, conventions decrease

NEW ORLEANS — Attendance at meetings and conventions in New Orleans dropped in 2009 as travelers and exhibitors took a tighter hold on their money. Tourism officials say that although the city played host to more meetings in 2009 than in the previous three years following Hurricane Katrina, attendance dropped 10 to 25 percent, depending on the event. Following Katrina, ...

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Jobs numbers show little change

There were 2.5 million job openings on the last business day of Dec. 2009, the U.S. Bureau of Labor Statistics reports. The job openings rate was little changed over the month at 1.9 percent. The job openings rate has held relatively steady since March 2009. The hires rate (3.1 percent) and the separations rate (3.2 percent) were essentially unchanged in ...

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White House: U.S. to add 95,000 jobs per month

WASHINGTON — The U.S. is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released today. The Council of Economic Advisers also trumpeted the $787 billion economic stimulus package, which it said has saved or created about 2 million jobs. In a message ...

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U.S. unemployment claims plummet

In the week ending Feb. 6, the advance figure for seasonally adjusted initial unemployment claims in the U.S. was 440,000, a decrease of 43,000 from the previous week’s revised figure. The four-week moving average was 468,500, a decrease of 1,000 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 3.5 percent for the week ending ...

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Fannie Mae, Freddie Mac buying bad loans

WASHINGTON — U.S. government-controlled mortgage finance companies Fannie Mae and Freddie Mac said yesterday they will buy back troubled loans contained in securities they have already sold to investors. The two companies are repurchasing mortgage loans for which borrowers have missed at least four months of payments. At the end of last year, Fannie had about $127 billion of such ...

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Report: State facing $6B shortfall

JACKSON — A national transportation advocacy group says Mississippi will face a $6-billion highway funding shortfall in the next decade if Congress fails to adopt a new transportation plan. TRIP, a national transportation research group, and lawmakers released the report yesterday at a news conference in Jackson. The study says one-fifth of Mississippi’s major roads are deteriorated, one-quarter of the ...

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AASHTO releases report on stimulus

A new report — “Projects and Paychecks: a One-Year Report on State Transportation Successes under the American Recovery and Reinvestment Act” — finds that more than 280,000 jobs were created and more than 12,250 transportation projects are underway as a result of the jobs bill signed into law one year ago. The comprehensive study, released by the American Association of ...

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Democrats introduce jobs package

WASHINGTON — Senate Democrats have unveiled their jobs initiative, blending a tax cut for businesses that hire new workers with help for the unemployed — along with a raft of provisions sought by lobby groups like doctors and the satellite broadcasting industry. The 362-page measure is still in draft form and has not been officially released. It has bipartisan backing ...

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