Posts Tagged ‘recovery’

Jobless Claims And Recovery Concerns Rise

Thursday, August 5th, 2010

As jobless claims rise, Americans are becoming even more concerned about the economic recovery.

  • New unemployment claims rose last week, which may indicate a weak economic recovery.
  • The unemployment rate is expected to climb to 9.6% (up from 9.5% in June).
  • While growth expanded 3.7% in the first quarter of 2010, it fell to a 2.4% annual rate in the second quarter.
  • Generally speaking, consumers have cut spending.

Facts & Figures

  • Claims for state unemployment benefits rose 19,000 (the highest since April).
  • 4-week average of new jobless claims rose 5,250 to 458,500.
  • Jobless claims fell in 2009 but have stalled this year.
  • The number of people on emergency benefits rose 60,993 to 3.31 million in mid July.

Best Quote

“The bottom line is that any recovery in employment is going to be very slow. It’s likely that we’re still 9.5 percent unemployment or awfully close to it by the end of the year.” -Scott Wren, Senior Equity Strategist, Wells Fargo Advisors in St. Louis

Rebuilding in Haiti?

Monday, July 12th, 2010

Six months after the disastrous earthquake, the rebuilding effort in Haiti is slow.

  • U.S. relief organizations have received $1.3 billion since the earthquake, but experts fear that it’s not enough to fund rebuilding.
  • Nonprofits have provided a lot of food and water, but may not be focused enough on providing shelter.
  • Hurricane season is imminent and aid experts emphasize the need for stable structures and shelters, especially in under-served rural areas.

Facts and Figures

  • An estimated 230,000 people were killed in the January 2010 earthquake.
  • Clearing rubble and establishing land rights are the two main obstacles to construction.
  • 3,722 transitional shelters have been built – each houses a family of 5.
  • Nonprofits aim to build 125,000 transitional shelters by mid-2011.

Best Quote

“I feel really good about what the donor community did in this first six months. I would feel even better if I knew that the donor community was poised to stay active over the long haul.” – Regine A. Webster, Senior Associate for Disaster Philanthropy at Arabella Advisors

Charitable Foundations Finally Looking Up

Thursday, July 8th, 2010

Finally, some good news about philanthropy in the wake of the financial crisis!

  • Endowments for charitable institutions grew steadily last year, rebounding from the sharp declines of 2008.
  • Despite the rebound, many foundations and charities have still cut back on spending and giving.
  • Most foundations (55%) gave less in 2009, but a few (16%) gave more.

Facts and Figures

  • Hundreds of grant makers saw their investments increase by about 20% this year (compared to a 26% drop in 2008).
  • Charities and foundations carry a median debt of over $20 million.
  • 38% of charities spent less in 2009, 20% spent more.