The Housing Market Monitor
The latest data indicate that the homebuyer tax credit propped up home prices through June, with prices rising in 18 major markets. However, with the expiration of the credit, the demand side of the market has collapsed and prices will resume their decline, completing the deflation of the housing bubble. More details on the latest housing data can be found in this month's Housing Market Monitor.
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Venezuelan Recession Likely Ended in Second Quarter
The Venezuelan economy, which was in recession in 2009, likely began its recovery in the second quarter of 2010, according to a new CEPR report. Analyzing the most recent data available, the report finds that the Venezuelan economy grew at an annualized rate of 5.2 percent in the second quarter, on a seasonally adjusted basis.
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Unemployment Rates Ticks up to 9.6
With the loss of 114,00 Census jobs, the economy only added 60,000 jobs in August. African Americans saw the largest increase in unemployment and health care was the only sector to show any consistent strength as the growth in manufacturing came to an end. The latest jobs data indicate cyclical rather than structural unemployment. More in this month's Jobs Byte. |
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CEPR in the News |
Millions Are Disappearing From the Unemployment Rolls as They Stop Job Search The Pittsburgh Post-Gazette, September 05, 2010
Americans in Their 50s Especially Hard-Hit by Recession San Jose Mercury News, September 04, 2010
Is High Unemployment Here to Stay? Marketplace, September 02, 2010
Home Prices Rise in June, but a Drop May Be Looming The Los Angeles Times, September 01, 2010
Would More Holiday Be Good for America? BBC News, September 01, 2010
Lessons From Haiti: How Food Aid Can Harm The Atlantic, August 31, 2010
IMF Expands Lending Programs to Prevent Financial Crisis Free Speech Radio News, August 31, 2010
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