May 31, 2012
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Jobless claims rise for 4th straight week.
Related: Economy in U.S. Expanded Less Than Previously Estimated. “Gross domestic product climbed at a 1.9 percent annual rate from January through March, down from a 2.2 percent prior estimate, revised Commerce Department figures showed today in Washington. The report also showed corporate profits rose at the slowest pace in more than three years and smaller wage gains at the end of 2011.”
UPDATE: A longtime reader emails:
Please do not use my name, but…
I work at a large semiconductor company who does a LOT of business with Chinese firms (odds are many is not most of the electronic devices you have that say “made in China” on it buys it’s most expensive parts from us). recently orders have dropped precipitously. We are expecting to reduce the workforce before the end of the quarter by dropping contractor (temp) labor. We are entering what for the semiconductor industry is the Christmas sales season and the orders are going DOWN! Be afraid. Be very afraid.
Oh, I am.