Economy

Health Insurance:
1.5 million folks lost their health insurance. The number of people with health insurance in the United States has dropped for the first time since 1987 (23 years) according to a U.S. Census Bureau announcement on 9/16/10. 2009 saw 253.6 million insured while 2008 saw 255.1 million people with health insurance. — a drop of 1.5 million people.

Consumer Prices:
On a seasonally adjusted basis, the Consumer Price Index – Unadjusted (CPI-U) increased 0.3 percent in August, the same increase as in July.

The top 1% of wage earners account for 25% of spending in the US economy, while the top 2% accounts for 37% of spending.

According to the Bureau of Labor Statistics:
Fuel oil is up 10.6%  (annual change ending 8/10)
Gasoline is up 4.4% (annual change ending 8/10)
Electricity is up 1.6% (annual change ending 8/10)
Utility piped gas is up 3.8% (annual change ending 8/10)
Food is up 1% (at home +.8%; away from home +1.2%) (annual change ending 8/10)
New vehicle prices are up 2.3% (annual change ending 8/10)
Used cars and truck prices are up 15.5% (annual change ending 8/10)
Medical care services are up 3.2% (annual change ending 8/10)
Transportation services are up 3.5% (annual change ending 8/10)

Bankruptcy filings rose 20 percent in the 12-month period ending June 30, 2010 and stands at an 18 year high (since 1992)

Foreclosure activity hits record high in third quarter — 1 in 136 homes received a foreclosure filing. Up 5% from previous quarter. Up 23% from Q3 2008.

Housing demand slowed — home sales down in August.  (Annual price change in shelter is down .7%)

August initial jobless claims at highest level since November 2009

August auto sales saw an historic 28 year low

August unemployment rates raise in 14 states. Nationally expected to remain around 9.5 percent for the remainder of the year and perhaps until year end 2014.

U.S. gasoline demand jumps 1.7% in August —  up .9% year to date. Average price for a gallon of self-serve regular gasoline was $2.75

Trade deficit has expanded 18.8 percent in June to $49.9 billion, the largest level in almost two years

China has moved past Japan into the world’s second largest economy

Iran retaliates against US and European sanctions by refusing to accept dollars and Euros for oil

Government Employment:
The nation’s 89,526 state and local governments employed 16.6 million full-time equivalent employees in 2009, statistically unchanged from 2008, according to government employment data released by the U.S. Census Bureau. Part-time employees numbered 4.7 million, not statistically different from 2008.

Of interest, the government has not posted any of these figures for FY 09 or FY 10. The Bush administration by comparison, published these results within 3 months of fiscal year end. The Obama administration published the FY08 figures 13 months after fiscal year end and project the FY09 figures to be published 17 months after fiscal year end.

Local governments accounted for 12.2 million full-time equivalent employees, and state governments had 4.4 million. (Local governments include counties, cities, townships, special districts and school districts.)

Most full-time equivalent state and local employees worked in education (8.9 million), hospitals (1.0 million), police protection (963,139) and corrections (759,513). Education included employment in elementary and secondary education, employment in higher education, and employment in support of special programs primarily for adult, vocational or special education that operate outside school systems

Go to

HOME page
Updates on: UNEMPLOYMENT data and Presidential APPROVAL RATING since the election.
INDEX of articles on this site; LEGISLATION the “Senator Obama” introduced; participate in POLLS on this site; BIO on this blogger; TAX hypothesis; and Obama POEM

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: