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US Hotels Industry: No Relief Until Second Quarter of 2010

added: 13-12-2008

U.S. hotels have entered the initial stages of one of the deepest and longest recessions in the history of the domestic lodging industry. The 7.8 percent drop in RevPAR that PKF Hospitality Research (PKF-HR) is now forecasting for 2009 will be the fifth largest annual decline in this important measure since 1930. Further, PKF-HR is forecasting that the nation's hotels will not experience a year-over-year quarterly increase in RevPAR until the second quarter of 2010.

Retail Industry in Depression RWDSU Leader Says

added: 12-12-2008

Responding to a Labor Department report that the number of Americans collecting unemployment benefits has soared to 4.43 million, the president of the Retail, Wholesale and Department Store Union is saying that quick federal action "is the only hope of keeping millions of retail workers and their families from falling into poverty."

Deloitte Consumer Spending Index Stabilizes in November 2008

added: 12-12-2008

The Deloitte Research Leading Index of Consumer Spending stabilized in November, primarily due to the drop in gasoline prices and the resulting rise in real wages. The Index attempts to track consumer cash flow as an indicator of future consumer spending.

U.S. Import and Export Price in November 2008

added: 12-12-2008

The U.S. Import Price Index fell for the fourth consecutive month, the Bureau of Labor Statistics of the U.S. Department of Labor reported, decreasing 6.7 percent in November as falling prices for both petroleum and nonpetroleum imports contributed to the decline. Export prices declined 3.2 percent in November, the fourth consecutive monthly decrease.

Bankrate: Mortgage Rates Down Six Straight Weeks

added: 12-12-2008

Mortgage rates continue to fall, with the average 30-year fixed mortgage rate falling from 5.92 percent to 5.8 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.35 discount and origination points.

U.S. Consumer Confidence Hovers Near Six-Year Low, According To RBC Cash Index

added: 12-12-2008

Consumer sentiment plunged to a near all-time low as Americans continued to be bombarded with bleak economic news, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index.

Foreclosure Activity Decreases 7 Percent in November 2008

added: 12-12-2008

RealtyTrac(R)released its November 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 259,085 U.S. properties during the month, a 7 percent decrease from the previous month but still up 28 percent from November 2007. The report also shows one in every 488 U.S. housing units received a foreclosure filing in November.

Holiday E-Commerce Spending Accelerates in Most Recent Week

added: 12-12-2008

comScore reported its tracking of holiday season retail e-commerce spending for the first 37 days of the November - December 2008 holiday season. For the holiday season through December 7, $15.63 billion has been spent online, essentially the same level compared to the corresponding days last year. During the first week since Cyber Monday (December 1 - December 7), sales totaled $4.45 billion, up 7 percent versus year ago.

U.S. Workers Taking Steps to Lower Medical Costs, Watson Wyatt Survey Finds

added: 11-12-2008

In the midst of an economic crisis, rising health costs are leading an increasing number of U.S. workers to take steps to reduce their own spending on medical care, according to a survey by Watson Wyatt, a leading global consulting firm.

Work Experience Of The Population in 2007

added: 11-12-2008

A total of 157.7 million persons worked at some point during 2007, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The proportion of workers who worked full time, year round in 2007 was 68.4 percent, the same as in 2006. The number of persons who experienced some unemployment increased by 693,000, to 15.1 million.

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