NEW YORK (AP) — Home prices in April rose for the first time in seven months as government tax credits bolstered the housing market. But the rebound may be short-lived now that the incentives have expired. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday posted an 0.8 percent gain. It had fallen in […]
economy
Posted inBusiness, sj-web
New jobless claims up sharply as layoffs persist
WASHINGTON (AP) — The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed. Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a […]
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Posted inBusiness, sj-web
Home construction sinks, building permits down
WASHINGTON (AP) — Home construction plunged last month and building permits also fell, the latest signs that the construction industry won’t fuel the economic recovery. Builders are scaling back now that government incentives have expired. The biggest evidence of that trend: single-family homes fell 17 percent, the largest monthly drop since January 1991. The struggle […]
Posted inBusiness, sj-web
Economy strengthens behind building, manufacturing
WASHINGTON (AP) — The economic recovery gained strength on the biggest rise in construction spending in nearly a decade and the 10th straight month of expansion for the manufacturing sector. Temporary government incentives fueled most of the construction spending increases in April. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce […]
Posted inBusiness, sj-web
Maine gasoline prices down
AUGUSTA, Maine (AP) — A website says average gasoline prices in Maine have fallen 5.4 cents per gallon in the past week. The price-tracking website MaineGasPrices.com says prices across Maine averaged $2.84 per gallon on Sunday. The website says that compares with the national average that’s fallen 6.8 cents per gallon in the last week […]
Posted inBusiness
Housing market stabilizes
BOSTON — The U.S. residential real estate market is caught in the worst correction in decades with few reasons to be optimistic as the economy worsens, according to a key housing report released Monday. “Despite unprecedented federal efforts to jumpstart the economy and help homeowners keep up with their mortgage payments, home prices continued to […]
Posted inOpinion
Take orders, make lumber
Recently, I heard that a sawmill somewhere near here got an order from China for 9 million feet of 6-foot white pine boards. If true, I hope this trend will amplify and continue. It would be a ray of hope for loggers, landowners, sawmill operators and any state government seeking tax revenue. Some within the […]
Posted inOpinion
Wasted on the wealthy
Our economy was out of whack long before the pain became severe. For decades, working families have had to take second jobs, credit cards and toxic loans just to keep the rising health care costs, gas and grocery bills at bay. Leading economists point to one disturbing trend in particular: While workers became much more […]