Road to Depression
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U.S. initial jobless claims jump for second week in a row!
NEW YORK - June 25, 2009 - New claims for U.S. unemployment benefits climbed for the second consecutive week last week, the Labor Department said Thursday as employers cut payrolls to cope with a brutal Depression.
Initial claims for unemployment insurance benefits rose to a seasonally adjusted 627,000 in the week ended June 20
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Five more U.S. banks are seized!
NEW YORK - June 27, 2009 - Five U.S. banks with total assets of about $1.04 billion were seized by regulators, pushing this year’s tally of failures to 45 as the Depression drives up unemployment and home foreclosures.
Community Bank of West Georgia, in Villa Rica, Georgia; Neighborhood Community Bank of Newna