ICIS Blogs : unemployment

Gasoline markets slip, financial markets stumble

Chemicals & The Economy — Tue, 23 Jun 2009 19:47:44 GMT

Yesterday's financial market action was very revealing. As Olivier Jakob of Petromatrix perceptively describes it, "liquidation on gasoline led to a correction in crude oil, which in turn pressured equity markets". The problem is that financial...(read more)

US unemployment hits 9.4%

Chemicals & The Economy — Mon, 08 Jun 2009 06:15:27 GMT

The US unemployment rate is now at its second highest level since records began in 1948. It was only higher in the early 1980's, at 10.9% in December 1982. It rose last month to 9.4%, and is now above the May 1975 peak of 9%. The only positive sign...(read more)

US Fed supports Wall Street earnings, ignores corporate sector risks

Chemicals & The Economy — Sun, 10 May 2009 13:49:27 GMT

In July 2007 , the US Federal Reserve warned that "credit concerns were spreading" and estimated that total bank losses due to US sub-prime loans could reach $100bn. Yet now , after the conclusion of its "stress tests", the Fed says...(read more)

EU sees 11% jobless; US banks raise interest rates

Chemicals & The Economy — Tue, 05 May 2009 23:23:13 GMT

The European Commission has again reduced its growth forecast for the EU. It now sees a 4% decline in GDP this year, and for the first time is suggesting that recovery will be delayed until mid-2010. As a result, it expects unemployment to reach 11%,...(read more)

US housing starts stabilise

Chemicals & The Economy — Sat, 18 Apr 2009 13:48:55 GMT

As the blog had hoped , US housing starts have stabilised in recent weeks. As the chart from Wall Street Journal shows, single-family home starts in March remained at c360,000 for the 3rd month running. Equally, the National Association of Home Builders'...(read more)

US auto sales start to bottom

Chemicals & The Economy — Sat, 04 Apr 2009 20:00:50 GMT

The blog may be over-optimistic, but as with US house markets , it is hopeful that US auto market may have hit at least a temporary bottom. Spring should be a good period for sales, and March saw auto volumes down 37% versus 2008. This was a relatively...(read more)