GENERAL
ECONOMIC DATA
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In the Metropolitan Los Angeles, California area for the year ended on December 31, 2009, a total of 425 new single-family dwelling unit permits have been issued. For that year also, 303 permits have been issued for single-family dwelling units in the San Fernando Valley area. In West Los Angeles, 242 such permits have been issued, and in the L. A. Harbor area, just 21 single-family dwelling permits were issued for all of 2009. That brought the Los Angeles citywide total to 991 single-family dwelling permits issued for 2009. However, a more-detailed breakdown of these figures shows that, of the citywide total of 991 permits issued, only 438 were for the construction of new units, while 480 permits were issued for demolition of existing structures, and nine units were lost due to alteration of existing units. This resulted in an overall loss of fifty-one dwelling units citywide in Los Angeles in 2009. (SOURCE: See table prepared by Los Angeles Department of City Planning here:).
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In the United States as a whole for the fourth quarter of 2009 (ended 12/31/2009), 373,000 new single-family homes were sold, at a seasonally-adjusted annual rate. This represented a drop of 8% from the 406,000 such homes (seasonally adjusted annual rate) which had been sold in the previouis quarter (ended 9/30/2009), and down by 5% from the sales rate recorded for the final quarter of 2008. This is a reflection of the continued dismal conditions in the U.S. real estate market following the collapse of the housing "bubble" of the early 2000's. (SOURCE: See U. S. Housing Market Conditions report for Fourth Quarter, 2009, dated February 2010, issued by U. S. Department of Housing and Urban Development, Office of Policy Development and Research, here:).
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In New Hyde Park, New York on February 6, 2009 the McDonalds at 2045 Jericho Turnpike is selling Filet-O-Fish sandwiches for $3.29 each, and Filet-O-Fish meals for $3.90 each. (SOURCE: See sales receipt in G. Dempsey's files).
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In New York City on January 3, 2009-a Saturday-the New York Times reports that economic conditions across the United States are so bad that an auto dealership in the suburbs of Miami, Florida is willing to give away free a second truck or car to customers who agree to buy one Dodge Ram truck. The Times labels current conditions as an "era of desperation marketing" as stores and auto dealers are willing to try almost any unorthodox tactic to make sales. (SOURCE: Article, "Desperate Retailers Try Frantic Discounts and Giveaways" by Jack Healy in New York Times Business Day section, Saturday, January 3, 2009, pg. B1).
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In the United States of America the index of manufacturing activity compiled by the Institute of Supply Management-a trade group of purchasing executives-stands at 32.4 for the month of December, 2008. The Institute says that "Manufacturing activity continued to decline at a rapid rate during the month of December," according to Norbert J. Ore, who is chairman of the Institute's Manufacturing Business Survey Committee. With this latest drop, the Institute's index has now fallen to its lowest level since the 30.3% reading recorded in June, 1980, 28 years ago. The Institute also reports at this time that new orders have declined for over a year now-13 straight months of decline, and now stand at their lowest level ever, going back even as far as January of 1948. That index of pending orders fell to just 22.7% in December, 2008; this was a drop of 5.2 % below the 27.9% rat of November, 2008. In addition, and as a natural consequence of the dismal manufacturing and new-order statistics, employment fared poorly in December, 2008. The employment index fell by 4.3% from November's level, to now stand at just 29.9%, and this was the lowest reading for this statistic since November of 1982. (SOURCE: Article, "Data Shows Manufacturing Is Suffering In All Corners" by Bettina Wassener in New YorkTimes Business Day section, Saturday, January 3, 2009, pg. B1 and B4).
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In the United States of America the index of manufacturing activity compiled by the Institute for Supply Management-a trade group of purchasing executives-stands at 36.2 for the month of November, 2008. (SOURCE: Article, "Data Shows Manufacturing Is Suffering In All Corners" by Bettina Wassener in New YorkTimes Business Day section, Saturday, January 3, 2009, pg. B1).
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In New York City the number of homeowners facing foreclosure actions rose by 1/3 in November, 2007 compared to the number who were facing such actions in November, 2006. However, this November's figure was actually lower than it had been in October of this year. These foreclosure problems are part of the continuing subprime mortgage "mess", according to an article published in the New York Daily News on December 20, 2007. That report said that an additional 2,848 homeowners in the city had filed foreclosure-related papers in November, 2007, and that this represented one filing for every 1,089 households in the city. The largest number of such new filings was in the borough of Queens, where 1,338 homes had gone into foreclosure proceedings in November. For Queens, this represented a huge 55% jump from last November's number of foreclosure filings-a rate of one filing per every 622 households in the borough. For the United States as a whole, the foreclosure rate was one per every 617 households in November, 2007. Most foreclosure filings in the city were default notices sent by lenders after the borrowers had missed one or more mortgage payments.
In Manhattan there were only 94 filings, but that was still a jump of 40% over the number which had been filed in November, 2006. The 94 new filings represented a rate of only one filing for every 8,721 households in the borough. In Brooklyn there were 1,078 new filings, or an increase of 19% from the number of filings in Brooklyn in November, 2006. In the Bronx there were just 338 new filings, up only 1% from last November's number of filings. On Staten Island 305 foreclosure actions were filed, and this was a steep 56% increase from the number of such filings in the borough in November, 2006.
Nationwide, there were 201,950 mortgage foreclosure actions or notices of pending actions in November, 2007--a sharp 6% rise from the number of such actions throughout the nation in November, 2006, but down by 10% from October of 2007. This could indicate that the current mortgage crisis has peaked for the time being, but industry experts are not sure if this is so. (SOURCE: Article, "Foreclosures in city hit Queens the hardest" by Lore Croghan in New York Daily News BizNews section, Thursday, December 20, 2007, pg. 49).
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In the United States of America in March, 2006 the national unemployment rate has dropped slightly to 4.7% from last month's rate of 4.8%, and it is now much improved from last March's rate of 5.1%. (SOURCE: Report by State of Hawaii Department of Labor and Industrial Relations, April 24, 2006--See website at: http://dir.state.hi.us/labor/pr/MR2006_03_Mar06_UI.pdf)
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In the United States of America in February, 2006 the national unemployment rate was 4.8%. (Source: Report by State of Hawaii Department of Labor and Industrial Relations, April 24, 2006--See website at: http://dir.state.hi.us/labor/pr/MR2006_03_Mar06_UI.pdf).
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In New York City on Sunday, February 19, 2006 the Key Food Supermarket chain advertises a sale on their store brand butter; it is on sale for $1.99 per pound, with use of their "Club Card". Also, "All" brand liquid detergent is on sale for $3.99 per 80-100 ounce container, again with use of their "Card"; without the card, the price for the 80-100 ounce container of "All" is $5.99. (SOURCE: Advertisement in New York Daily News, Sunday, February 19, 2006, pg. 37 in Sunday Now section).
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In New York City on Sunday, February 19, 2006, the New York Daily News carries an advertisement which says that a two bedroom unfurnished apartment, with a single bathroom, kitchen, livingroom and diningroom is for rent in a private house in Flushing, Queens, New York City. The monthly rent is advertised as being US$1,400.00. (SOURCE: Listing in Real Estate Section, New York Daily News, Sunday, February 19, 2006, pg. SPECIALISL 10).
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According to a small feature article appearing in the New York Daily News on Sunday, February 19, 2006, the population of the Sunset Park neighborhood of sourthern Brooklyn, New York at that time is 92,718; the median price of a house there is US$ 599,000.00, and the median household income is US$ 30,994.00. (SOURCE: Feature, "Hometown Neighborhoods Sunset Park Picturesque Views, Bargain Brownstones" by Liz George in Real Estate Section, New York Daily News, Sunday, February 19, 2006, pg. SPECIALISL 10).
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In the United States of America in early August, 2002 the University of Michigan consumer sentiment index fell slightly to a reading of 87.9, from a level of 88.1 in July, 2002. This is the lowest level for this measure of consumer well-being since November of last year. Before this actual reading was published, the consensus among those who report on its findings had been for a reading of 88.3. This index is pegged to a reading of 100 for consumer sentiment in December, 1964. (SOURCE: Reuters News Service report, "Data Indicate U.S. Recovery Is Still Fragile" carried in New York Times Business section on Saturday, August 17, 2002, pg. C3).
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In the United States of America housing starts fell in July, 2002, according to a report by the U.S. Commerce Department. This is a second monthly decline for this measure of the housing industry, but activity is still robust by historical standards. The drop was by 2.7% from June's level, to a seasonally adjusted annual rate of 1.649 million units. The Commerce Department has also revised the figures for building activity in June; the level last month is now reported to have been a 2.7% decline from May's activity, to a seasonally adjusted annual rate of 1.695 million units. (SOURCE: Reuters News Service report, "Data Indicate U.S. Recovery Is Still Fragile" carried in New York Times Business section on Saturday, August 17, 2002, pg. C3).
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In the United States of America the government reported on Thursday, October 9, 1997 that first-time claims for unemployment insurance benefits had declined to an almost nine-year low level. The U. S. Department of Labor reported on Thursday that such claims had fallen by 5,000 in the week which ended on October 4, 1997 to a seasonally adjusted level of just 304,000. This is the fourth consecutive week in which such first-time filings have failed to rise above a level of 310,000, and that is the longest sustained period below that level since the first five weeks of 1989. This trend indicates that the labor supply may not be growing quickly enough to fill the demand by industry for workers, and that the relartive scarcity of available workers may force employers to raise the general salary level to attract needed employees. (SOURCE: Article, "Jobless Claims Hit 9-Year Low" by Bloomberg News, in New York Newsday Business Section, Friday, October 10, 1997, pg. A65).
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In the United States of America, major retailers reported on Thursay, October 9, 1997 that sales in September, 1997 were at a disappointingly low level because unusually warm weather that month had depressed demand for fall clothing and other merchandise. Specialty retailers in the women's clothing field suffered the largest sales decline, and these included AnnTaylor Stores, The Limited, and Talbots. Smaller-scale retailers reported that they were also affected by the weather-induced lack of sales volume. (SOURCE: Article, "Jobless Claims Hit 9-Year Low" by Bloomberg News, in New York Newsday Business Section, Friday, October 10, 1997, pg. A65).
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By some time in 1978 deposits in American banks have grown to the point that the DIME SAVINGS BANK OF NEW YORK, a state-chartered mutual (depositor-owned) institution, by itself could repoort having US$ 4 billion in deposits on its books. (SOURCE: See website for DIME SAVINGS BANK here:)
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In the month that ended on May 31, 1969, the growth of savings deposits at this nation's savings and loan associations stands at the lowest level for any May month since 1958, according to a report from the U. S. Savings and Loan League that is released on June 19, 1969 in Washington, D.C.
The League estimates that there has been a gain of US$ 560 million in such savings deposits for May, 1969, but that that growth was down by a large 26% from the US$ 757 million that had been deposited by the nation's savers in May, 1968. The League also said that this latest figure is below the average total deposits for the month of May over the last decade; that latter figure was said to be US$ 806 million, meaning that this May's figure is down by 30.5% from that level. (SOURCE: New York Daily News, June 20, 1969, pg. 54).
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By the end of 1914 in the United States of America the total of all funds on deposit in savings accounts with American banks stands at US$ 17.4 billion [in 1914 dollars]. SOURCE: THE GREAT DEPRESSION AMERICA IN THE 1930s by T. H. Watkins Back Bay Books Little, Brown and Company New York, Boston, London ((paperback)) 2009, pg. 35). [In terms of 2008 dollars, this would be over US$ 378.260 billion, according to an inflation calculator devised by Robert C. Sahr of the Political Science Department at Oregon State University--G. Dempsey]
CANADA:
In the decade from 1951 until 1961, close to 10,000 jobs in the financial, business, and communication sectors were created in Quebec City, Canada, but this was less than the number of jobs that were created in the social services, commercial, industrial, personnel, and public sectors. (SOURCE: An Historical Guide To Quebec-Yves Tessier (paperback), pg. 27).
INDIA:
On Tuesday, June 26, 2001, the NEW YORK TIMES carried a report that said that the Confederation of Indian Industry, which is that country's most influential trade organization, had requested Pakistan to reciprocate and to grant most favored nation trade status to India. This request was in advance of a planned summit meeting between the Indian and Pakistani leaders which is to take place in Agra in July of this year. The Confederation estimated the potential value of trade between the two countries at US$ 5 billion by the year 2005. This would be up from the present trade level of US$ 800 million. "Enhanced economic coopoeration would also contribute to stability in the region," the Confederation said.
UNITED STATES OF AMERICA: