April 16, 2009

Six million Americans jobless

POLITICS - Six million Americans are receiving jobless benefits in the United States, breaking all previous records according to latest data released today. Analysts expect the labour market to remain weak for most of 2009 with companies reluctant to hire new workers until an economic recovery is well under way.

The latest housing data shows there is still in house sales and has yet to hit rock bottom. (It is however the best time to buy in decades.) Likewise the construction industry is doing poorly, the 2nd lowest level on record, at a seasonally adjusted annual rate of 510,000 new units. The last time it was this low it was 50 years ago.

In other news... bicycle sales, use of mass transportation (subways, buses, etc) is up dramatically. The cycling industry is expecting their best year ever. Beer sales in North America are also up, while sales of wine and heavier alcohols are down sharply. Seems everyone is watching how they spend their free time and their money.

You know its bad when businessmen start cycling to work and drinking beer instead of wine. Hopefully not both at the same time.

See Also:
The Bicycle Mechanic

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