Tagged: Jobs

Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.

Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."

If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?

A boom? Really?

There are not many things that Barack Obama, Newt Gingrich and Mitt Romney agree on, but when it comes to job training there is common ground.

"It is time to turn our unemployment system into a reemployment system that puts people to work," President Obama said during his State of the Union address Tuesday.

Earlier in the week, Newt Gingrich offered a similar solution for helping those facing long-term unemployment.

Over the past week, 21,000 more Americans claimed unemployment benefits, the Labor Department reports. Like most economic news, that's the bad news. The good news, reports the AP, is the that the four-week average is down 2,500, which "still signals a healthier job market."

The Commerce Department also has some good news on the economy: Orders for durable goods rose 3 percent, last month.

The AP reports that this marks a gain for the second straight month. The AP adds: