We foresee unemployment remaining steady and staying at this mid-to-high 5% level which is substantially less than the
6-8% ranges seen during previous recessions. read on
Fannie Mae & Freddie Mac bring mortgages back to the spotlight.
Mortgage finance firms Fannie Mae and Freddie Mac, which collectively hold or back nearly half of the country’s mortgage debt, made headlines this month when their share prices nearly halved due to concern over access to capital. This most recent development in the growing mortgage crisis has brought the credit intermediation and loan industry back to the forefront with no immediate end in sight. our analysis
Consumer spending experiences a comeback.
The most recent U.S. consumer spending data indicated that, in May, Americans got back out shopping, reporting the highest level of spending since November 2007. This welcomed change is a possible result of tax rebate checks being distributed by the government, but will this spending trend continue in the right direction? our analysis
State employees embrace 4-day work week.
To help ease the pain of rising gas prices impacting commuting expenses, Utah plans to launch a 4-day work week for state employees effective August 1. While other states and private sector employers take notice, will this shortened work week catch on? our analysis
"Job losses have remained below the 100,000 mark ... and employment is close to 95 percent for the country – much better facts and figures than have been seen during past economic recessions and by our global neighbors."
– Tig Gilliam, CEO, Adecco Group North America
Reuters, July 3, 2008
