October 2009 Unemployment Rate 10.20% – Chart of the Day
The economy has grown again, but the labor market showed no sign of improving. Actually, if you look at the the unemployment report released this morning, you will probably feel things are getting worse, not better.
In the latest job report, the government said that the nation’s monthly unemployment rate reached 10.20%, the highest level in [...]
Economic Recovery Payment for Social Security Recipients Sent on May 7
Good news for 55 million social security benefit recipients who are looking forward to the one-time $250 economic recovery payment.
I mentioned early that the Social Security Administration plans to issue the checks to SSI recipient this month. Now it looks like the waiting is over. An announcement on the SSA website says that first payment [...]
Social Security Administration Has Answers to Your Questions on $250 One-Time Payment
Two months ago, I wrote an article on when social security recipients will receive the $250 payment as part of the American Recovery and Reinvestment Act of 2009. Since then some readers have left comments, mostly concerning who are eligible for the economic recovery one-time payment. While I am glad that post helped some people [...]
February 2009 Unemployment Rate 8.1% Highest in 25 Years – Chart of the Day
The U.S. job market keeps weakening. According to the latest unemployment report released by the Labor Department this morning, U.S. employers slashed 651,000 nonfarm positions in February 2009, pushing the monthly unemployment rate to 8.1%, the highest level since December 1983. February marks the third straight month that job losses exceeded 600,000, the first time [...]
Facts about Homeowner Affordability and Stability Plan
As part of the American Recovery and Reinvestment Act of 2009, which was passed by the Congress over the weekend and signed into law by President Obama yesterday, the Treasury Department today released a fact sheet on details of the Homeowner Affordability and Stability Plan (PDF file) that will help struggled homeowners to fight foreclosure. [...]
Reader Question: When Will Social Security Recipients Receive $250 Payment?
A reader, Brenda, today commented on my American Recovery and Reinvestment Act of 2009 Breakdown post with the following question:
When will we get the 250.00, those of us that are on S.S. or will we.
When I read those articles on the stimulus plan after it was passed over the weekend, I didn’t see a mention [...]
Random News: Northern Trust to Close 17 ETFs, More Bank Closures, and $1,000 Gold (?)
In the exchange-traded fund (ETF) world, things have happened fast and furious. According to an article on Financial Planning, a total of 434 ETFs were launched in 2006 and 2007. In 2008, a very bad year for stock and mutual fund investors in general, another 164 new ETFs were introduced, as financial firms try to [...]
American Recovery and Reinvestment Act of 2009 Breakdown – Chart of the Day
The House has already voted to approve the $789 billion economic stimulus plan (called American Recovery and Reinvestment Act of 2009) President Obama has sought since he took office less than a month ago. The Senate will take on the bill later today and it could be sent to the President for his signature as soon [...]
How Much Money U.S. Government Has Printed to Handle the Financial Crisis
Where do you think the billions of dollars the government used to rescue banks came from?
They printed them, a lot!
Now that the $789 billion stimulus package is getting close to the final approval, the Treasury is going to print a lot more.
Scary, isn’t it?
*Thanks @MarketTrader for the tip.
2009 Stimulus Plan Highlights
While the Congress is still battling to get the final version of the massive 2009 economic stimulus package (could cost tax payers as much as $800 billion when the deal is finalized) done before the weekend, I think it’s time to get an idea on what we can expect from the stimulus plan and how [...]
