Economic Report:

Chances are fairly high that you had a flight cancelled in March. More than 28 percent of domestic commercial flights were canceled, diverted or late according to the Transportation Department. If that number sounds bad consider that in February more than 31 percent of flights had those same problems. On the other hand, an average of 6.7 passengers per every 1,000 complained of mishandled baggage in March compared with 7.7 per 1,000 last year.

Economic Report:

If you buy a Chrysler you could receive a gas subsidy. The automaker is offering to cap the price of gasoline at $2.99 per gallon for three years for individuals who purchase a Chrylser, Dodge, or Jeep between today and June 2. Customers receive a special card that when used will bill the charge as $2.99 per gallon. Will other carmakers follow suit? Not GM or Ford. Spokespeople for those two companies said they plan to focus on developing fuel efficient vehicles.

Economic Report:

Services were up for the first time since December in April. According to the Institute for Supply Management, the index for non-manufacturing businesses crept up to 52. Economists consider anything above 50 to be positive and in March the number was at 49.6. Service sector employers added 90,000 jobs in April, while the building sector saw a loss of 61,000.

Economic Report:

Planned layoffs saw a massive jump in April – an increase of 68 percent over March. A new report from Challenger, Gray, and Christmas showed U.S. companies planning to cut more than 90,000 jobs when surveyed throughout April, that is up 27 percent since April of 2007. The financial sector is feeling the biggest pinch with 23,106 of those jobs slashed in April. Transportation telecommunication industries were both nearly tied for second both letting go of nearly 8000 jobs each.

Economic Report:

Ready for some positive economic news? The public sector is hiring new workers faster than it has in six years. According to the Bureau of Labor Statistics, federal, state, and local governments added 76,800 jobs during the first quarter of 2008. The hiring helps cushion the fallout from the 286,000 jobs that were lost in the private sector during the first three months of this year.

Economic Report:

With requests for new homes sales declining, the rest of the country has been seeing job slowdowns in the construction industry. New York City, however continues to see a modest increase. New York State’s Metropolitan Transportation Authority says $51 billion in projects are on the slate over the next four years in the city. And in March, two thousand more construction workers were on the job than at the same time last year.

Economic Report:

As independent long haulers rolled into DC on Monday to protest rising fuel costs, the White House said it sees no short-term fix for the ever-rising fuel prices. The average price for gasoline in the United States hit $3.60 per gallon last week. The independent long haulers who brought their protest to the nation’s capitol are paying a record $4.18 per gallon of diesel fuel or $1,200 to fill the average tractor trailer.

Economic Report:

March was the worst month in 16 years for new home sales. New home sales dropped by 8.5 percent last month, the slowest pace since October of 1991. Prices also continued to drop with the biggest year-over-year decline since July of 1970. Prices dropped by 13.3 percent. Sales for existing home also fell in March, dropping two percent.

Economic Report:

What is the biggest concern for 18 to 29 year olds as Pennsylvania goes to the polls today? The economy. Twenty-two percent of those surveyed said the economy was number one on their minds followed by 13 percent who said Iraq. The last time the poll was conducted was in June of 2007 and Iraq topped the poll as the leading issue. Seventy-five percent of the 18-29 year olds surveyed said the state of the economy is bad and only a third feel they have solid job prospects.

An increasing number of potential homeowners are waiting to buy a home, according to a new poll. 60 percent of Americans said they won’t buy a new home in the next two years, up from 53 percent in September of 2006. One in four believes housing prices will fall in their area. The poll from the Associated Press also found more than a quarter of homeowners are concerned about their homes losing value during the next two years.

Economic Report:

Middle class Americans don’t feel better off than they did five years ago according to a new study from the Pew Research Center. The majority of those polled say they haven’t progressed in five years with 31 percent expressing that they have gone backwards. 53 percent of the middle class Americans polled said they have cut spending due to a tighter wallet.

Economic Report:

What is the cost of obesity on employers? According to a new report from the Conference Board, obese employees cost US companies $45 billion per year in medical coverage and loss of worker productivity. Thirty-four percent of American adults are obese; double the rate 30 years ago. Obesity has led to an increase of 36 percent in healthcare spending. More than 40 percent of U.S. companies have obesity-reduction programs.

Economic Report:

Pending home sales hit a record low in February, falling 1.9 percent. Pending home sales are based on contracts signed during the month, and serve as a measure of future home sales' activity. Overall pending home sales are down 21.4 percent over the same time last year.

Economic Report:

How are managers around the country looking at hiring in 2008? Only 29 percent of managers in a recent USA Today survey said they planned on increasing hiring for the second quarter. That percentage is unchanged since the previous quarter, suggesting job creation has become stagnant. The Department of Labor reported that in January and February total payrolls slipped by 85,000 jobs.

Economic Report :

Factory orders fell for a second straight month in February. According to a Commerce Department report released last week, factory orders fell by 1.3 percent on top of a 2.3 percent decline in January. The drop in January was the largest in five months. All eyes are on the month of March, as six straight months of declining numbers is necessary for economists to technically say the economy is in recession. The last increase was in November of 2007.

Economic Report:

Does your doctor support universal healthcare? It's likely, according to the journal Annals of Internal Medicine. 59 percent of US doctors favor a national healthcare plan and 32 percent say they oppose switching to such a system. The last time the survey was taken was in 2002. At that time only 49 percent were for universal healthcare and 40 percent were in opposition.

Economic Report:

By the end of 2008, the number of Americans using food stamps is expected to reach 28 million, the highest level ever achieved. In order to qualify for the food stamps program, a family must have near-poverty income. The Congressional Budget Office projects the number of recipients to reach 28 million in October, up from 26.5 million in 2007. Michigan claims the most, with one in eight receiving the benefits.

Economic Report

Home prices in California dropped nearly $3000 per week during the month of February. The median sales price dropped by 26 percent, the fastest decline in the country at three times the national average. According to the California Association of Realtors, Santa Barbara County saw some of the sharpest declines in home prices at an average of 39.1 percent in comparison to where they were last year.

Economic Report:

On the heels of positive news for existing homes sales on Tuesday, a new report says sales of new homes continued to decline in February. The Commerce Department said the median new home price dropped to $244,100 in February, down 8.2 percent, and the sales of new single family homes fell by 1.8 percent. The inventory of unsold new homes now stands at 471,000.

Economic Report:

Some good news for the economy? It depends on what side of the fence you are on, the buying or the selling side. Sales of existing homes made an unexpected increase in February, suggesting some buyers are taking advantage of the heavy price cuts happening around the country. Sales of existing homes jumped by 2.9 percent in February; that's the biggest increase in a year. According to the National Association of Realtors, the median existing sales price dropped to $195,900, the biggest drop in nine years.