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Private Companies Added 325,000 Jobs In December

ROSELAND, N.J., Jan. 5 (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 325,000 private sector jobs in December, well above the 175,000 economists predicted. Small businesses, those with fewer than 50 employees, added the largest share, with employment gaining by 148,000. Medium-sized businesses, those with 50-499 workers, added 140,000 jobs, […]

Analysts See Consumer Spending Waning

NEW YORK, Jan. 3 (UPI) — The largest single component of the U.S. economy, consumer spending, is standing on wobbly legs, analysts said. “The consumer is far from healthy,” said ITG Investment Research senior economist Steve Blitz. Colin McGranahan, a market analyst at Sanford C. Bernstein, wrote in a note to clients to “expect slowing […]

BofA Reels In Some Small Business Loans

CHARLOTTE, N.C., Jan. 3 (UPI) — Bank of America confirmed it was calling in loans from an undisclosed number of small U.S. businesses. Analysts said BofA was attempting to raise capital and impress regulators. BofA spokesman Jefferson George said the number of loans affected would be a “very small percentage” of the 3.5 million small […]

Experts: Housing Not Ready For Comeback

WASHINGTON, Jan. 3 (UPI) — The U.S. housing market is not likely to change abruptly in 2012, economists and industry analysts said. “I think there may be a little bit of an uptick in units sold,” in 2012, Doug Duncan, vice president and chief economist at the Federal National Mortgage Association, said. However, Duncan said, […]

Factory Orders Up 1.8 Percent

WASHINGTON, Jan. 4 (UPI) — U.S. factory orders rose from October to November but came up shy of expectations, the U.S. Census Bureau reported Wednesday. Factory orders rose 1.8 percent or by $8.2 billion, short of the 2 percent rise economists predicted. With plane maker Boeing reporting multibillion-dollar orders, transportation items provided the lion’s share […]

Mortgage Activity Drops

WASHINGTON, Jan. 4 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell in the final two weeks of 2011 with long-term mortgage hitting lows for the year. Interest rates for 30-year, fixed-rate conforming mortgages dropped to 4.07 percent with points rising to 0.53 from 0.47. The trade group said the average weekly interest […]

Company Diversity Helps Bottom Line

TORONTO, Dec. 31 (UPI) — The more diverse a company’s workforce is, the more loyal, happy and productive its employees tend to be, researchers in Canada found. Lead author Kristyn Scott, author of “The Diverse Organization: Finding Gold at the End of the Rainbow” and a professor with Ryerson University, Joanna Heathcote of University of […]

U.S. Manufacturing Picks Up The Pace

TEMPE, Ariz., Jan. 3 (UPI) — U.S. manufacturing activity made gains in December with the pace picking up from the previous month, the Institute of Supply Management said Tuesday. The headline index (the Purchasing Managers’ Index) rose from 52.7 to 53.9, as manufacturing expanded for the 29th consecutive month, the institute said. Numbers above 50 […]

Construction Spending Rose In November

WASHINGTON, Jan. 3 (UPI) — Construction spending for November was 1.2 percent above October’s revised estimate of $797.4 billion, the U.S. Census Bureau reported Tuesday. Spending on private and public projects for November reached $807.1 billion, a 0.5 percent gain over November 2010, the monthly construction spending report said. Spending on private construction was at […]

Men Have The Edge In Job Recovery

WASHINGTON, Jan. 3 (UPI) — The U.S. labor market since the end of the recession has improved at a faster pace for men than for women, a private research group said. The Pew Research Center said men have gained 768,000 jobs since the recession ended and the sluggish recovery began. For women, jobs have been […]

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