After months of squabbling, federal spending to stimulate the economy is all set to come to a halt soon. Up until now, the government’s stimulus packages provided valuable support to a struggling economy. But the funding is running out and both federal and state governments are looking at cutting down on public services. It is expected that the administration will have to make additional cuts or find new sources of revenue for fiscal year 2011 to avoid deficit from spiraling out of control. [Read more…]
Labor Market Shows Signs of Recovery as Jobless Claims Fall
As predicted by analysts, first time jobless applications declined in the week ending March 13 to 457,000 according to the Labor Department. The decline continues the trend that was established two weeks ago, with the job markets picking up and signs of new hiring emerging in several industries. However, a large number of people are still receiving unemployment benefits, which is a cause for concern. [Read more…]
