Summary: Jobless Claims In The United States
Jobless Claims in U.S. Drop to Three-Year Low
Introduction
The United States entered into recession in December 2007 when job losses began. The financial crisis is linked to reckless lending practices by financial institutions and the growing trend of securitization of real estate mortgages in the United States. The US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world. A more broad based credit boom fed a global speculative bubble in real estate and equities, which served to reinforce the risky lending practices. The doubtful financial situation was made more difficult by a sharp increase in oil and food prices. The emergence of Sub-prime loan losses in 2007 began the crisis and exposed …show more content…
In order to stop the potential run on money market mutual funds. The Securities and Exchange Commission announced termination of short-selling of 799 financial stocks, as well as action against naked short selling, as part of its reaction to the mortgage crisis. (Mark, 1998)
Various agencies, regulators and financial institution began to take additional as more comprehensive steps to handle the crisis to address consumer protection, executive pay, bank financial cushions or capital requirements, derivatives and apply appropriate checks and balances to enhanced authority for the Federal Reserve. New or reinstated rules designed help stabilize the financial system over the long-run to mitigate or prevent future crises. Solutions focused on support for ailing financial institutions and economies to increase the demand and improve on investor confidence. (Stuart, 2004)
Lower interest …show more content…
President Barack Obama insisted yesterday that the only way to avert a payroll tax increase for workers in January is for the House to send him a two-month deal the Senate passed Dec. 17.
Boehner and the Republican-controlled House voted 229-193 yesterday, with no Democratic support, to reject the two-month bipartisan Senate measure and call for a yearlong extension of the tax cut.
Reference
(http://www.nytimes.com/2009/01/09/business/worldbusiness/09iht-jobs.4.19232394.html, [31 Dec 2011])
(http://www.bloomberg.com/news/2011-12-15/jobless-claims-in-u-s-unexpectedly-decline-to-three-year-low-of-366-000.html, [29 Dec 2011])
R. Mark Rogers, 1998, Handbook of Key Economic Indicators, 2nd ed, New York, United States.
John Stuart Mill, 2004, Principles of Political Economy, New York, United States.
Bloomberg Press, 2003, Guide to Economic Indicators, 5th ed, New Jersey, United States.
Greg J. Bamber, Russell D. Lansbury and Nick Wailes, 2004, Internation And Comparative Employment Relations. 4th ed, London,
Introduction
The United States entered into recession in December 2007 when job losses began. The financial crisis is linked to reckless lending practices by financial institutions and the growing trend of securitization of real estate mortgages in the United States. The US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world. A more broad based credit boom fed a global speculative bubble in real estate and equities, which served to reinforce the risky lending practices. The doubtful financial situation was made more difficult by a sharp increase in oil and food prices. The emergence of Sub-prime loan losses in 2007 began the crisis and exposed …show more content…
In order to stop the potential run on money market mutual funds. The Securities and Exchange Commission announced termination of short-selling of 799 financial stocks, as well as action against naked short selling, as part of its reaction to the mortgage crisis. (Mark, 1998)
Various agencies, regulators and financial institution began to take additional as more comprehensive steps to handle the crisis to address consumer protection, executive pay, bank financial cushions or capital requirements, derivatives and apply appropriate checks and balances to enhanced authority for the Federal Reserve. New or reinstated rules designed help stabilize the financial system over the long-run to mitigate or prevent future crises. Solutions focused on support for ailing financial institutions and economies to increase the demand and improve on investor confidence. (Stuart, 2004)
Lower interest …show more content…
President Barack Obama insisted yesterday that the only way to avert a payroll tax increase for workers in January is for the House to send him a two-month deal the Senate passed Dec. 17.
Boehner and the Republican-controlled House voted 229-193 yesterday, with no Democratic support, to reject the two-month bipartisan Senate measure and call for a yearlong extension of the tax cut.
Reference
(http://www.nytimes.com/2009/01/09/business/worldbusiness/09iht-jobs.4.19232394.html, [31 Dec 2011])
(http://www.bloomberg.com/news/2011-12-15/jobless-claims-in-u-s-unexpectedly-decline-to-three-year-low-of-366-000.html, [29 Dec 2011])
R. Mark Rogers, 1998, Handbook of Key Economic Indicators, 2nd ed, New York, United States.
John Stuart Mill, 2004, Principles of Political Economy, New York, United States.
Bloomberg Press, 2003, Guide to Economic Indicators, 5th ed, New Jersey, United States.
Greg J. Bamber, Russell D. Lansbury and Nick Wailes, 2004, Internation And Comparative Employment Relations. 4th ed, London,