In the clearest sign yet of a recession, U.S. nonfarm payrolls fell by 63,000 in February, the second straight decline in employment, the Labor Department reported Friday.
Reports from the twelve Federal Reserve Districts suggest that economic growth has slowed since the beginning of the year. Two-thirds of the Districts cited softening or weakening in the pace of business activity, while the others referred to subdued, slow, or modest growth. Retail activity in most Districts was reported to be weak or softening, although tourism generally continued to expand.
The median household earned $48,201 in 2006, down from $49,244 in 1999, according to the Census Bureau. It now looks as if a full decade may pass before most Americans receive a raise.
The Euro is now worth $1.54 in U.S. pesos, oil was at $106/bbl Friday, and the gummint is gonna make me a gift of the price of about five boxes of good cigars and borrow the money to do it, leaving me to pay back the loan.