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...well below the 6.7% national rate, the Lone Star State continues to add jobs - 230,000 for the past 12 months as of the end of October. And while sales-tax receipts, a major source of revenue for state and local government, are no longer growing at double-digit rates, they were still up almost 5% in November over the same time last year. Perhaps the best holiday news for Texans, who see long-distance drives as a way of life, is that gas is down to $1.35 a gallon in many parts of the state. But that happy fact...
...year, but because the global economic slowdown has increased the potential for political unrest in China. Thousands of factories in the south have closed, and demonstrations by workers over unpaid wages have become a frequent scene in the regions of the country that have been driving China's double-digit growth. China's exports dropped last month for the first time in seven years, and as many as 9 million migrant workers are estimated to be returning home due to the slowdown. The World Bank and others say growth next year could drop to below 8%, a number that...
...Harvard women’s basketball team defeated the University of Maine (2-7) 73-50 yesterday at Lavietes Pavilion with a dominating offensive performance. The game was marked by an all-around team effort, as four players recorded double digits, and senior Emily Tay posted her 1,000th career point. “I had no idea I had scored my 1000th point, so I’m really excited,” Tay said. “It was a really big surprise for me.” The Crimson (6-4) dominated the second half, using...
...November, the plant closed. He is a victim of an economic transition - a move away from the low-end, low-wage, export-oriented manufacturing on which much of China's rapid growth was built - that has been made more urgent by the global economic crisis. As China's double-digit growth rate plummets, thousands of factories are being shut down and millions of workers are being thrown onto the streets. They will need jobs in the years to come, and the Chinese government is scrambling for an answer to Zhang's plaintive question as he prepares to return...
...will prove arduous if not impossible. Last month China's exports, a major driver of the world's fourth-largest economy, fell by 2.2% compared with November, 2006. The result marked the country's first decline in exports in seven years and was a sharp reversal of the double-digit growth rates manufacturers have typically posted in recent years. The drop was "a shock figure," says Ben Simpfendorfer, the Hong Kong-based chief China economist for the Royal Bank of Scotland. "I had expected exports to collapse in the final few months but not to this extent. There really...