Provided By RECON
Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.
During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.
All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.
Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.
The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.
Are you wanting to relocate to a home closer to your job? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Showing posts with label recovery of economy. Show all posts
Showing posts with label recovery of economy. Show all posts
Friday, October 8, 2010
Monday, June 15, 2009
This Economy Wants to Recover
In his recent Croesus Chronicles for Forbes, Robert Lenzner outlined several economic points:
"The bear market ended March 9, and the end of the worst recession since the 1930s, or is it the mid 1970s, is plainly in sight."
"About $120 billion has been pulled out of global market funds since mid-March;"
'Yet money market assets are still equal to 50% of the S&P 500 market cap...Since 1990, money market assets have averaged about 20% of the S&P 500 market cap. This is a huge potential buying power.
While no one is certain that a new bull market has begun, we can point to some telling signs: "Stocks broke higher on June 1 even though the yield on 30-yeard Treasuries climbed back above 4.5%...This is what the long bond yielded in August of 2008. Just before the meltdown in credit markets during the fall of 2008."
"Credit markets are healing, as spreads have fallen considerably."
"Corporations are able to raise tens of billions in the short-term debt market."
"The yield curve, the difference in yield between short-term and long-term securities, usually widens in advance of an economic recovery, and it has done so."
"Stocks also rose spectacularly despite the bankruptcy of General Motors and the continuing loss of jobs in the automobile industry. Bad news doesn't seem to be rocking the market like it did a few months ago."
"Earnings yields on equities still remain comfortably above the yield on 10-year Treasuries and should have the ability to absorb higher interest rates driven by economic recovery."
'The US manufacturing institute for Supply Management index rose to 42.8 in May, which usually signals that gross domestic is expanding rather the faltering."
'Housing, the genesis of the crisis, is showing signs of stabilization and even amelioration. Pending sales were up 6.7% in April, even if prices are still in the tank.'
'Even automobile sales improved in May to an annualized 10 million vehicle level.'
'There has also been a mini-bull market going on in commodities that has been mightier than the one for stocks. This outperformance by commodities is another leading indicator of an economy about to turn the corner.'
And lastly, "Another factor that helps the Dow is the replacement of two stocks with no earning--General Motors and Citigroup--with Travelers and Cisco."
"Looks to Croesus that this market wants to rise, deflation or inflation both be damned!"
"The bear market ended March 9, and the end of the worst recession since the 1930s, or is it the mid 1970s, is plainly in sight."
"About $120 billion has been pulled out of global market funds since mid-March;"
'Yet money market assets are still equal to 50% of the S&P 500 market cap...Since 1990, money market assets have averaged about 20% of the S&P 500 market cap. This is a huge potential buying power.
While no one is certain that a new bull market has begun, we can point to some telling signs: "Stocks broke higher on June 1 even though the yield on 30-yeard Treasuries climbed back above 4.5%...This is what the long bond yielded in August of 2008. Just before the meltdown in credit markets during the fall of 2008."
"Credit markets are healing, as spreads have fallen considerably."
"Corporations are able to raise tens of billions in the short-term debt market."
"The yield curve, the difference in yield between short-term and long-term securities, usually widens in advance of an economic recovery, and it has done so."
"Stocks also rose spectacularly despite the bankruptcy of General Motors and the continuing loss of jobs in the automobile industry. Bad news doesn't seem to be rocking the market like it did a few months ago."
"Earnings yields on equities still remain comfortably above the yield on 10-year Treasuries and should have the ability to absorb higher interest rates driven by economic recovery."
'The US manufacturing institute for Supply Management index rose to 42.8 in May, which usually signals that gross domestic is expanding rather the faltering."
'Housing, the genesis of the crisis, is showing signs of stabilization and even amelioration. Pending sales were up 6.7% in April, even if prices are still in the tank.'
'Even automobile sales improved in May to an annualized 10 million vehicle level.'
'There has also been a mini-bull market going on in commodities that has been mightier than the one for stocks. This outperformance by commodities is another leading indicator of an economy about to turn the corner.'
And lastly, "Another factor that helps the Dow is the replacement of two stocks with no earning--General Motors and Citigroup--with Travelers and Cisco."
"Looks to Croesus that this market wants to rise, deflation or inflation both be damned!"
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