Word: rates
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...general population, and another man or woman who is no longer a consumer and may not be able to make mortgage payments. The pace of that trend does not mean much until net new jobs are being created Third, and finally, real estate prices are falling and the rate at which people are losing homes or are going into default plumbs new depths with each set of new numbers...
...various stages of development were put on display by Chinese companies. The reason is straightforward enough: China is the world's fastest-growing auto market. So far this year, it is also the world's biggest auto market, with sales through the first quarter running at an annualized rate of 11 million units, compared with 10 million in the U.S. That kind of scale is why some executives believe that China could be the country in which electric vehicles move from the concept stage to mass production. "It may become the country that leads the switch to electric vehicles," says...
...states already have a head start. California, whose 11.2% March unemployment rate is the state's highest since 1941, is rushing to funnel $415 million in federal stimulus money to 49 job-retraining centers. Most of the training will be designed to qualify people for jobs in infrastructure construction, health care and green industries like waste recycling and wind-farm technology. In Texas, legislators will vote next month on a final version of a 2010-11 budget, already passed by the state senate, that boosts spending on higher education by $1.5 billion. That figure includes $500 million in federal stimulus...
...Michigan, whose 12.6% jobless rate is the highest in the U.S., with still more auto-plant closings coming soon, launched its "No Worker Left Behind" program in August 2007. So far the state has footed the bill - up to $10,000 per displaced worker - for 61,434 unemployed Michiganders to learn the math, technology and science skills they need to embark on new careers at companies like Hemlock Semiconductor, Dow Chemical and Dow Corning, which are investing and hiring there. Also in demand: the program's newly trained nursing assistants, physical therapists and health-care technicians...
...Revisionists also ignore the success of the 2001 and 2003 tax cuts: After their implementation, GDP grew uninterrupted for five years at an average rate of 4.1 percent, businesses created five million new jobs, and lower top marginal rates created incentives for unforeseen innovation. In fact, without the Bush tax cuts the economic downturn might have been harder on the poor. His plan increased the child tax credit and reduced rates for lower-middle-class families. The only substantive critique leveled by revisionists at the Bush tax cuts is that they widened budget deficits. But, if deficits caused the recession...