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Unemployment remains stubbornly high at just over 9 percent, but it’s the alarming number of long-term jobless that is causing fresh concern for Democratic lawmakers. About 42 percent of the nation’s 14.1 million unemployed have been out of work for at least six months, and nearly one in three has been jobless more than a… Continue Reading Dems warn long-term jobless could derail recovery

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Oil prices fell below $92 a barrel Wednesday as more signs of a slowing U.S. economy raised concerns about demand for everything from gasoline to natural gas used to cool homes. Benchmark West Texas Intermediate crude dropped $2.10 to $91.69 a barrel in midday trading on the New York Mercantile Exchange. In London, Brent crude… Continue Reading Oil falls on concerns about economy and demand

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Stocks slumped again Wednesday as worries about the U.S. economy deepen. The Dow Jones industrial average was down 101 points in afternoon trading, putting in on track for its ninth straight day of losses, the longest losing streak since February 1978. The S&P 500 index was headed for its eighth straight loss. Investors are becoming… Continue Reading Dow average is headed for its ninth straight loss

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Oil fell below $94 per barrel Tuesday as investors continued to worry about weaker economic growth. Benchmark West Texas Intermediate crude for September delivery was 74 cents lower, at $94.15 per barrel in morning trading on the New York Mercantile Exchange. Earlier, it was as low as $93.75. Brent crude, which is used to price… Continue Reading Oil slides under $94 on concerns of weak economy

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Mountain States economy continues slow growth

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The overall economic index for the mountain states region shows slow, positive growth in the months ahead. Colorado’s leading economic indicator dipped slightly – but is still growing. New orders, sales and production, inventories and employment all showed gains. “Driven by solid employment gains and unemployed exiting the work force, Colorado’s unemployment rate has declined… Continue Reading Mountain States economy continues slow growth

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The myth about what’s behind the numbers

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Economists and businesspeople alike claim that numbers tell all. You can hide a problem, you can rationalize around it, you can even pretend it isn’t there. By the end of the month or the quarter, the numbers will tell the truth, the whole, truth, and nothing but the truth — unless you cook the books.… Continue Reading The myth about what’s behind the numbers

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A tax cut that began last month gave consumers the biggest jump in their incomes in nearly two years. But Americans boosted their spending only slightly, a sign that many people are being cautious with their money even as the economy improves. Consumers increased spending 0.2 percent in January, the smallest gain since June, the… Continue Reading Tax cut boosts incomes, spending sees small gain

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Employment data aren’t quite as opaque as the unemployment rate that we discussed last week, but there is still room for lots of confusion. Take the December data that were released for Colorado Springs a couple of weeks ago. We learned: Employment, at 275,400 jobs, was unchanged from November, but 4,500 jobs lower than December… Continue Reading Why the local jobs picture is so hard to figure out

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The unemployment rate is one of the most closely watched, yet least understood pieces of economic data. On the surface it appears simple: in December the Colorado Springs unemployment rate was 9.4 percent, while Pueblo’s was an even higher 10.3 percent. Doesn’t that mean that around 10 percent of adults in southern Colorado who wanted… Continue Reading The real jobs numbers aren’t where you think they are

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State of the Union: It’s the economy, again

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Addressing a demand for economic answers, President Barack Obama will try to convince the American people and a divided Congress that he has a vision for speeding up job creation, promoting spending on the core of his agenda but promising to rein in a growing, staggering debt. His State of the Union address will reflect… Continue Reading State of the Union: It’s the economy, again

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