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Tag Archives: recession

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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Schimmel’s Restaurant bankrupt, looking for buyer

Schimmel’s Restaurant LLC at 2615 North State Street in Jackson filed for bankruptcy in May 2009, and is now looking for a buyer and asking the court to approve a procedure for competitive bidding. In December, the U.S. trustee, joined by Regions Bank, filed a motion to convert the case to Chapter 7. The court has given the debtor until ...

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Former Nick’s (restaurant) space leased

The ground floor at 1501 Lakeland Drive in Jackson, occupied for 25 years by Nick’s restaurant, has been leased to ophthalmologist Kirk R. Jeffreys III. Jeffrey’s practice and optical shop will occupy 4,500 square feet of the 7,500 square foot space. Nick’s moved to a nearby Old Canton Road location in December 2009. The 1501 Lakeland Drive building’s major tenants ...

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Obama calls out Republicans on healthcare reform

WASHINGTON — President Barack Obama says it’s time for Republicans who have attacked his healthcare proposals from the sidelines to step before the cameras and present their own ideas. In the first major move to revive his healthcare agenda after his party’s loss of a filibuster-proof Senate majority, Obama on Sunday invited GOP and Democratic leaders to discuss possible compromises ...

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