Word: sectoral
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Historically, real estate lags behind an economic recovery. In the 1991 recession, it took the industry 14 months to rebound after the recession's end, and in the 2001 downturn, it took 29 months for the sector to recover, says Bob Bach, chief economist with Grubb & Ellis Co., a commercial real estate services and investment company. Even if the current recession ended in the second quarter, it could take anywhere from 14 to 29 months for real estate to bounce back, says Bach. Unemployment, which is expected to hit 10.5% in 2010, exacerbates the situation, he says. All of this...
...neighbor Guinevere Kirk, a nurse, is also firmly opposed to NAMA. Along with the rest of Ireland's public-sector workforce, she faces a probable wage cut in December when public spending is expected to be slashed in the budget in a bid to reduce Ireland's gaping deficit. "No one even knows if [NAMA] will work because it's never been done before," she says. "All I know is that it won't be the developers or bankers who'll be feeling the pain if it all goes wrong." (Read "Ireland's Economy: Celtic Crunch Time...
...flawed. But a new commitment to agriculture by the global community is clearly emerging. The latest G-8 summit of the world's largest economies, held in Italy in July, declared "there is an urgent need for decisive action to free humankind from hunger" and, citing the sector's perennial neglect, pledged $20 billion for agriculture. "Since 2007, we have seen greater attention from world leaders on food security, in developed and developing countries alike," says Kostas Stamoulis, director of agricultural-development economics at the Food and Agriculture Organization (FAO) in Rome. The resources being committed to farming "is putting...
...last year’s freshmen also won their event at the Carnegie Chase, this year’s boat was granted a favorable start ahead of Princeton. The rookies rowed well throughout the race but really began to put distance between them and their opponents in the third sector...
...foundation for lasting prosperity. The Recovery Act includes $80 billion to put tens of thousands of Americans to work developing new battery technologies for hybrid vehicles; modernizing the electric grid; making our homes and businesses more energy efficient; doubling our capacity to generate renewable electricity. These are creating private-sector jobs weatherizing homes; manufacturing cars and trucks; upgrading to smart electric meters; installing solar panels; assembling wind turbines; building new facilities and factories and laboratories all across America. And, by the way, helping to finance extraordinary research...