The U.S. unemployment rate fell to a 51/2 year low in October with an additional 92,000 jobs added to the workforce. These numbers coming straight from the U.S. Labor Department which also said that job creation in August and September was far more vigorous than first thought. The national unemployment level is at its lowest rate since it was at 4.3% in May 2001.
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Financial titan Forbes put out a piece over the weekend looking at the "average" American family throughout the century versus 2005. Their conclusion? The "typical family is doing a whole lot better" than in years past, financially speaking. And yet, "Mr. & Mrs. Median" are a lot grumpier than their contemporaries. One reason for that is because people compare their individual fortunes against one another. Even if you make 1% less than the other guy, you feel less important. Or so survey says. It's a very interesting read, and most importantly, it's an easy read too.
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Wal-Mart Stores Inc. will soon offer $4 prescriptions for some generic drugs in most states within a few months. This after a test run in Tampa, Florida was so successful that Wal-Mart executives moved up the low-cost program ahead of schedule, to catch up with demand. The test will expand all across Florida by January and nationally next year. Target Corp., the country's number two discounter - behind Wal-Mart - said that it would match its rival's low prices for the statewide program.
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A study by the U.S. Census Bureau came out recently, revealing which of the 775 most populated counties in the nation pay the highest property taxes. More than half of the top 35 counties on the list are in New York. New Jersey has the second highest rate. Westchester county, the most expensive, has homeowners paying an average of nearly $7,400 a year in property taxes. Niagara, Monroe, Onondaga, Wayne and Chautauqa counties round out the top five.
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Moody's Economy.com, a private research firm, is projecting that housing prices will decline in more than 100 metropolitan areas, with the Northeast, Florida and California being hit the hardests. Median sales prices will decline, they project, by 3.6 percent in the next year. If this prediction becomes true, which we must stress that it's only an well-educated guess, it would be the first decline for an entire year in home prices since the Great Depression in the 1930's. (Read the full story)
