Word: dipped
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...Obama Administration and economists hailed the dip in July unemployment to 9.4% from the 9.5% level in June as an indication that the economy is beginning to recover. But the drop in unemployment is deceptive. Employers shed another 155,000 jobs in July. And the unemployment rate would have gone up, possibly to 9.7%, if the 400,000 Americans who had previously been searching for a job (but became so discouraged they stopped) had continued to seek employment in July. Economists expect the job picture to remain bleak well into...
...result is an unabashed miscellany that delights in its own variety: its 200-odd pages span the breadth of fiction, reportage, memoir, travel writing, polemic and even photography. Wood says the magazine will eventually produce themed issues, but for now, readers can expect the unexpected. Dip into recent copies and you'll find them packed with everything from poetry by Margaret Atwood to a photo-essay on the Mumbai bombings to experimental short fiction by emerging Singaporean writer O Thiam Chin...
...then? As the stimulus wears off, I expect that we will flatten out in the big developed economies - not have a double dip as the economic bears would argue, but just flatten out. The thing that is different this time is that the developing countries are coming out of this thing very strongly and their own domestic demand is going to sustain them. So they are going to be an important driving force for the global economy. It's worth noting that developing economies are now 35% of the global economy. They are going to be a new factor...
...other sobering note in Goldman's bullish report today is the clearly stated anxiety over next year's economy. "Although our current economic outlook is for below-trend growth through 2010, the risk of a 'double-dip' recession remains significant," the report notes. That said, Goldman Sachs raised its year-end price target for the stock market 13%, sending a strong message to institutional investors to not sit on their hands, even in the face of major uncertainties. Among the stock groups Goldman favors: energy, basic materials, financials and technology...
...summer, when oil prices soared past $140 per barrel, the economic slowdown has kept per-barrel prices relatively reasonable in 2009. But in his new book, $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better, Christopher Steiner argues the dip is temporary, and says gas prices will soon climb beyond $4 per gallon to heights previously unimaginable...