EconomicCrisis.US

Job losses in the United States slowed sharply in November, cushioned by seasonal adjustments and a budding economic recovery that is encouraging some companies to retain workers, a Reuters survey predicts.

Analysts said even without seasonal factors related to retail sector hiring, there were clear signs that the labor market was edging toward stability and the deterioration in nonfarm payrolls was in its final stages.

The survey of 72 economists forecast U.S. employers cut 130,000 jobs this month after reducing payrolls by 190,000 in October. While this would be the smallest decline since July last year, it would also mark the 23rd straight monthly drop in payrolls.
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As we reach the end of a miserable 2009, signs continue to mount across the globe that the world economy is stirring back to life. The U.S. finally returned to growth in the third quarter, with its strongest showing in two years, India posted inspiring 7.9% growth and the results out of tiny Taiwan, one of the economies slammed the hardest by the global recession, were so impressive one economist beamed that the island “got its groove on.” Stock markets, aside from a downward blip here and there, have generally been buoyant. During this season of Thanksgiving and holiday cheer, there seems to be good reason to give thanks and be cheerful.
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In U.S. history, there may have been no better time to own a junk car, a rattling old fridge and a leaking dishwasher.

On the heels of its ballyhooed “Cash for Clunkers” program for cars, the federal government is expected to finalize details in the coming weeks of another tax-supported shopping extravaganza, known as “Cash for Appliances.”

Supported by $300 million from the economic stimulus, the program will offer rebates to consumers who buy energy-efficient refrigerators, dishwashers, air conditioners and other appliances to replace their older models.

And like the $3 billion cars program that gave consumers money for swapping their clunkers for more fuel-efficient rides, the appliance initiative seems destined to inspire shoppers, drive up sales for a while and profoundly divide economists over how much lasting good this chunk of government spending will do for the economy.
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I made my annual trip to some area stores this morning to see what bargains shoppers are picking up for Black Friday.

I started at Walmart White Marsh and it was obvious last year’s trampling of a security guard at one of its Long Island stores had an impact. There were employees everywhere. And shoppers lined up for items at various locations throughout the store rather than in one big mass outside. It was pretty orderly. I didn’t stick around to see if there was chaos once the bargains were available at 5 a.m.

Some shoppers showed up yesterday afternoon to get in line at the Best Buy in White Marsh. Laptops and flat screen televisions seemed to be the big items there. The laptop section was the most crowded in the store. There were still huge stacks of Wii and Xbox video game systems when I left at about 5:30 a.m.
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