The Week in Review from Valeo Financial Advisors (September 6, 2013)
September 6, 2013    Disclosures    POSTED IN  Economy

US Economy

  • For the first time ever, there are more people 55 and over with jobs than employed 16-24 year olds Valeo Financial Advisors
  • The unemployment rate fell to 7.3% last month, lower than the consensus estimate and relative to one year ago of 8.1% Bureau of Labor Statistics
  • Construction spending in U.S. increased to highest level in 4 years, climbing 0.6% Bloomberg News


  • Mortgage rates dropped last week from 4.80% to 4.73% for 30-year fixed-rate mortgage, while applications for home-purchase mortgages were flat Wall Street Journal
  •  Lumber prices declined from $400 per contract to $320, a leading indicator to the housing market Fox Business News

World Economy

  • Greece’s economy contracted to 3.8%, less than 4.6% estimated drop for August, increased tourism expected to provide some relief Wall Street Journal 


  • Instead of 50 distinctive states, America is a collection of 7 nations and 3 quasi-independent states – see where the economic growth is Forbes 
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