Personal income grew an estimated 1 percent in the second quarter of 2014 in Maryland, compared to 2. Percent in the United States as a whole. That showing -- the fifth worst of all the states -- followed four years of statewide incomes lagging behind the rest of the country. What economists initially dubbed a jobless recovery has evolved into what some call a "wageless recovery"
Personal income grew an estimated 1 percent in the second quarter of 2014 in Maryland, compared to 2. Percent in the United States as a whole. That showing -- the fifth worst of all the states -- followed four years of statewide incomes lagging behind the rest of the country. What economists initially dubbed a jobless recovery has evolved into what some call a "wageless recovery"
Personal income grew an estimated 1 percent in the second quarter of 2014 in Maryland, compared to 2. Percent in the United States as a whole. That showing -- the fifth worst of all the states -- followed four years of statewide incomes lagging behind the rest of the country. What economists initially dubbed a jobless recovery has evolved into what some call a "wageless recovery"
As recovery continues, Maryland households fall behind
October 11, 2014 | The Baltimore Sun | Natalie Sherman
More than five years into the economic recovery, many Maryland households still aren't feeling the lift. Overall personal income including wages, investment income and payments from programs such as Social Security grew an estimated 1 percent in the second quarter of 2014 in Maryland, compared to 2.5 percent in the United States as a whole. That showing the fifth worst of all the states followed four years of statewide incomes lagging behind the rest of the country, driven by a lack of growth in job-related income, according to an analysis the state's Department of Planning published last week. Everything is going up except for your paycheck," said Edward David Washington, 68, of Owings Mills. What economists initially dubbed a jobless recovery has evolved into what some call a "wageless recovery" nationwide. Middle-class jobs remain scarce, more people work part time and labor participation is at a historic low. The Federal Reserve's triennial Survey of Consumer Finances found that median household fell 8 percent between 2007 and 2013, with the highest drops among the youngest and least-educated. Maryland despite being a relatively wealthy, well-educated state is no exception. Read more
Apartment vacancy hits 9-year low in Maryland 10/17/14 Baltimore Business Journal Kevin Litten
Fast-leasing apartments has led to several new complexes in Baltimore, including 520 Park St. A sharp rise in demand for rental housing has driven Maryland apartment vacancy down to a nine-year low of 8.6 percent as young people continue to shun homeownership. That's according to a state report on housing affordability released Friday, which found Millennials make up the largest share of renters. People between the ages of 25 and 34 made up 27.3 percent of all renter households in 2012, having grown by 10.2 percent between 2006 and 2012. People ages 35 to 44 were the second fastest- growing group of renters in Maryland, up 8.7 percent to make up 21.5 percent of all renters. The report, released by the state Department of Housing and Community Development, warns that the plunging vacancy rate is driving up the cost of rental housing. Rental housing costs rose by 3.4 percent over five years, and in In 2012 renters devoted an average of 32.9 percent of their income toward housing. Read more
Nonprofits Have Same Space Demands as For Profits October 23, 2014 | Globest.com| Erika Morphy
WASHINGTON, DCNon-profits are seeking out more efficient space and better brandingsjust like their for-profit counterparts. As befitting their missions and budgets, however, they want these amenities in reasonably priced buildings, according to the eighth annual Nonprofit Real Estate Benchmarking Survey released by the CBRE Nonprofit Practice Group. While this trend is unfolding nationwide, it is of particular importance to the Washington DC area, which is home to the most non-profits in the country, followed by New York City and Chicago. Read more
Amazons Spending Leads to Biggest Quarterly Loss in 14 Years Web Retailer Projects Slower-Than-Expected Sales Growth in the Holiday Quarter October 23, 2014 Wall Street Journal Greg Bensinger
Amazons soaring ambitions are coming at a steep cost, dragging the e-commerce giant to its largest quarterly loss in 14 years. WSJ's Greg Bensinger and Scott Thurm discuss. Amazon.com Inc.s soaring ambitions are coming at a steep cost, dragging the e- commerce giant to its largest quarterly loss in 14 years. A surge in spending on new- product development, music and video licensing, and other parts of the Seattle companys expansion strategy led to a net loss of $437 million in the third quarter, worse than its year-earlier loss of $41 million. The wider loss came despite a 20% jump in revenue to $20.58 billion. In another stumble, Amazon took a $170 million charge on its Amazon Fire smartphone, which was released in July but is selling poorly, analysts say. The company also issued a lukewarm sales forecast for the current quarter, its most important of the year because of holiday-related spending. Read more...
More earnings gains send US stocks higher October 24, 2014 Washington Post Associated Press
NEW YORK Stocks are rising in midday trading as U.S. companies report more earnings gains. UPS and Microsoft rose after reporting earnings that were higher than analysts were expecting. Procter & Gamble rose after saying it would make its Duracell battery business a stand-alone company. The Dow Jones industrial average rose 84 points, or 0.5 percent, to 16,762 as of 11:55 a.m. Eastern time Friday. The Dow jumped 216 points the day before. The Standard & Poors 500 index rose eight points, or 0.5 percent, to 1,959. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,470. Crude oil fell 99 cents to $81.12 a barrel in New York. Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.
Yes, 100% of economists were dead wrong about yields October 22, 2014, MarketWatch, Ben Eisen NEW YORK (MarketWatch) Just about six months ago, a headline flashed across the top of MarketWatchs home page. It read: 100% of economists think yields will rise within six months. The April 22 report was based on a Bloomberg survey of 67 economists, all of whom expected the 10-year Treasury note 10_YEAR, -0.83% yield which closed at 2.73% that day to rise over the following half year. How quickly we would get to 4[%] was the discussion at the beginning of the year, said Mohamed El-Erian, chief economic adviser at Allianz SE, on CNBC Tuesday morning. The market, however, has a funny way of leaning one way, just as the herd is heading in the other direction. On Tuesday, the 10- year note traded at a yield of 2.21%, almost four-tenths of a percentage point lower than in April. Lets not forget that the yield unexpectedly dipped below 2%, just last week. Read more...
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