Real Construction on Track to Add 1.24 Percentage Points to 2nd Quarter GDP

In the report on May construction spending (pdf), the Census Bureau estimated that our seasonally adjusted construction spending would work out to $1,035.8 billion annually if extrapolated over an entire year, which was 0.8 percent (±1.5%)* above the revised estimate of a $1,027.0 billion annual rate in April and 8.2 percent (±2.0%) above the estimated adjusted and annualized level of construction spending of May last year

Economists Predict a Decade of High Unemployment for United States

If you are enjoying your holiday and hoping the next decade is way better than this one....stop reading now and go party. Trust me, this post will be here when you have a nice hangover on January 1st.

For the rest of folk, the Canadian Press, Even as the US economy recovers, a decade of joblessness and flat wages could lie ahead is a real bummer.

The decade ahead could be a brutal one for America's unemployed - and for people with jobs hoping for pay raises.

At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 per cent and keep it there. At worst, that won't happen until much later - perhaps not until the next decade.

The deepest and most enduring recession since the 1930s has battered America's work force.