February 1, 2008
-- by Dave Johnson
Nervous employers cut 17,000 jobs in January — the first such reduction in more than four years and a fresh sign that the economy is in danger of stalling.But,
The unemployment rate declined a notch, from 5 percent in December to 4.9 percent in January. The jobless rate — calculated from a different statistical survey than the payroll figures — dipped as people, perhaps discouraged by their prospects, left the labor force for any number of reasons.And U.S. says construction spending dropped 1.1% in December,
Spending on U.S. construction projects fell by 1.1% in December as outlays on private residential construction took another tumble, government data showed Friday.Where is all the money going?,Exxon Mobil posts record profits,
The drop was bigger than expected by economists surveyed by MarketWatch, who were looking for a decline of 0.5% in December.
Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world's biggest publicly traded oil company benefited from historic crude prices at year's end.Here we go. And remember, get your money out of money-market funds!
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, beating its own mark of $10.71 billion in the fourth quarter of 2005.
Posted by Dave Johnson at February 1, 2008 7:20 AM
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