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December 13, 2012
The Numbers: Unemployment Rate Falls, but Fiscal Cliff Looms

CHICAGO — Unemployment rate drops to 7.7% in November, marking lowest point since February 2009

CHICAGO — THE UNEMPLOYMENT RATE for November fell to 7.7%, according to the Bureau of Labor Statistics, marking its lowest point since February 2009. Unemployment has slowly but steadily declined during 2012, which began with the unemployment rate at 8.3%. Approximately 146,000 new jobs were added to the economy in November.

Meanwhile, uncertainty over the federal budget and the so-called “fiscal cliff” colored many economic factors during the last two months of 2012.

ACCORDING TO THE BEIGE BOOK, seven of the 12 Federal Reserve Districts noted modest growth before the middle of November. Two districts—St. Louis and Minneapolis—reported a stronger increase in economic activity, while Boston indicated a slower rate. The New York district’s figures were disrupted in late October and through November by Hurricane Sandy, and Philadelphia’s figures were somewhat affected by the storm.

April 12, 2012
The Numbers: Stock Market Strong While Unemployment Holds Steady

CHICAGO — Mid-March found the stock market posting its best day of the year

CHICAGO — MID-MARCH FOUND THE STOCK MARKET posting its best day of the year, with the Dow Jones closing at its highest level since 2007 and the Nasdaq composite closing above 3,000 for the first time since December 2000.

While the unemployment rate held steady at 8.3%—a three-year low—the number of private-sector jobs continued to increase. With a jump of 233,000 jobs in February, more than 3.9 million jobs have been added to the U.S. workforce.

“We’ve had 24 straight months of private-sector job growth,” says Secretary of Labor Hilda Solis. “U.S. job growth over the last six months has been the strongest since before the recession began in 2006.” Experts say, however, that it will take another five years to gain pre-recession employment figures.

MORTGAGE APPLICATIONS WERE DOWN for the week ending March 2, decreasing 1.2% from the previous week, according to the Mortgage Bankers Association. Along with that news, RealtyTrac showed new foreclosures were up 2.89% from December 2011 to January 2012.

August 24, 2010
U.S. Market for Coin-Ops & Drycleaners to Reach $3.5 Billion by 2015, Report Says

SAN JOSE, Calif. — In spite of the recession, a new report from Global Industry Analysts Inc. says, the U.S. market for drycleaning plants and coin-operated laundries will recover and gain momentum in the next few years, reaching $3.5 billion by 2015.

October 22, 2009
Despite Rosy Analysis, Drycleaners Still Feel the Squeeze

CHICAGO — Last month, Federal Reserve chairman Ben Bernanke announced that the recession has likely come to an end, but drycleaners across the country reported declining sales for September, as well as the third quarter of 2009, according to a recent AmericanDrycleaner.com StatShot survey.

October 20, 2009
The Economy Is Still in Recession, Drycleaners Say

CHICAGO — Last month, Federal Reserve chairman Ben Bernanke announced that the economy had resumed slow growth, meaning that the recession has come to an end. “Main Street,” however, disagrees: Asked, “Based on your experience, do you believe that the recession has come to an end?” an overwhelming 86.5% of drycleaners answered “No,” according to the most recent Wire survey. Just 7.7% said that the economy is improving, and 5.8% answered “Don’t know.”