Thursday, May 1, 2008

How housing and other downfalls today effect the economy

According to a article I found on yahoo called "Consumer Spending up but Much of Gain Reflects Higher Prices" housing construction has fallen for 23 straight months before a small 0.2 % increase in February.[ MARTIN CRUTSINGER]. This hurt the economy and it doesn't seem to be getting better.

Another issue I found was layoff rates have jumped 68% in April opposed to March. According to the article planned job cut in the us are 90,015 opposed to 54,579 in in March.I aso readthat most of the announced job cut came from the finical sector due to the slump with the housing market. It said there was 300 billion in write downs on bad mortages.

2 comments:

Billy.M said...

Gas is alson another big reason for the downfall in the economy. Because the more money people have to spend on gas to get to work and where ever else they have to go the less money people will spend on other goods and other stuff.

Anonymous said...

Not only that the economy is get worese because of job layoffs or housing markets. But also food prices are sky rocketing because of gas prices. I have no idea how gas prices and food prices have to do with eachother but prices keep going up and it beggining to get frustrating.