This is MarketWatch news break money news from Wall Street to main street to your street.
I'm John Wordock and I man -- ahead on the show potential good news about the job market. Jobless claims have fallen 31000 in the last week.
Well might be some kind of hope but I certainly is. Not a sign of despair it's a good thing they -- suspect it moved back lower.
Plain spoken economist Robert Brusca coming up.
But some bad news if you have an old fridge with beer and and I don't know you may have a money sacking machine in your garage or basement. I'm Adrian Mitchell.
I'm Steve Potisk in the MarketWatch radio network news room on Thursday August 26.
The up and down job market on an upswing first time claims for unemployment benefits fell last week out of more than expected 31000. To 473000. While that is still pretty high. It is at least off last week's high for the year. But the closely watched four week moving average did rise. In the past week speaking of jobs the former head of Disney may be about to get a new one running the Tribune Co. which counts the Chicago Tribune and LA times as some of its properties. The times says Michael Eisner is one of the people being mentioned as in line to replace Tribune CEO Sam Zell asked the media conglomerate once it gets out of bankruptcy protection. Target ready to start personalizing the way it tells digital mobile customers about hot deals. USA today says tomorrow the chain will announce my target weekly. A fully customizable version of its weekly ad which will include mobile deal alerts and more social interaction. Where visitors can share products and shopping experiences with friends. I'm Steve Potisk and you're listening MarketWatch news break.
You have an old fridge in your life may be it was the life of your bachelor parties may be you don't have the heart to throw it out well Adrian Mitchell says maybe it's time to part ways with old Betsy on the garage.
You may love sitting in the rise in grabbing a beer from that old free -- my. Beer but that could be one expensive through that refrigerator may well be sucking money out of your pocket.
If they were built before 1983. Is serving a certain -- it is also costing you.
curry at Chicago's comments says investing in a new French pays off.
The older women use about three to have more energy and doing the aliens she's about nine -- So you're saving -- hundred books.
Too bad and the electric companies sponsoring a public art -- fine art bridges to call attention to its refrigerator recycling program.
One of the conversion to a -- Another -- you know there this one's called peace and quiet if it PE AS. And it depicts you know peace.
The fine art bridges we'll be on display on Michigan avenue through mid September. For MarketWatch news break I'm Adrian Mitchell.
Thanks Adrian and an -- gonna sit back relax enjoy a cold one as we wait for the job market to improve Tracy Johnke talked with. Robert Brusca an economist you can understand. After this.
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For free rate slowed to six Geico dot com or call 180947. -- fifteen minutes could save you hundreds on car insurance.
On Tracy junkie the number of people signing up for jobless benefits is down for the first time in four weeks but is this any reason to hope it's. Getting better out there I'm joined by Bob Brusca the chief economist at fact and opinion economics in New York. And that we are seeing claims coming down but have. From a very elevated levels the previous week 500000. Back then so is -- any sign of hope.
What might be some kind of hope but I certainly is. Not a and despair the good thing they claimed suspect moved back lower back that I should point out claims bubble that's still high. We still really haven't turned that rising trend in claims around so. It's -- that was going on it looks like there might have been some government workers added and this pile -- claims over the last couple of weeks that. The private sector does seem to be pretty weak and and that's really need to create the job growth could be job growth we need to cut down the number of claimants need to increase the number of people working and it doesn't look -- turn that corner of the way we usually do and recovery periods.
When that we have claims and that these high levels of 450000. And above what does that tell us about it job creation.
You know -- job creation from that is a very direct because these are literally people that are losing their jobs -- could be having a lot of job great creation but still having people losing their jobs but. Obviously -- that the correlation between -- rates remain low and jobless -- being high. What we find at this time interestingly -- that -- you know corporate layoffs have been pretty -- the corporation's. Large corporations are not telling -- that they're laying -- a lot of people the way they had over the past few years that's one good -- but still we are having -- scattered around the country to -- jobless -- persistently -- week after week.
It's there. Any place where my highest job seekers are successful and our jobs are --
Jobs more or less seemed to be safe file we are adding jobs in the economy we are not losing jobs. So that's what's happening on balance but we are still getting some dislocation in and they jobless claims are going up. And we have a dynamic economy we tend to have a lot of people losing jobs and ending re employed because that's the nature of our economy. But the people who are losing jobs they show up with claims that people are getting jobs. Well we don't find out about them until the next monthly employment report. But generally we have been putting people back to work -- offenses that where the temporary workers have allowed doubt to the private sector really is is doing some of its -- just not doing it vigorously enough.
Olympic imitate it TO I guess really a speed speed up the process very area are we gonna still some keep keep on going this slow slow slog against toward job growth.
By an adequate to get out by I think we are gonna be at some point in normal recovery is kicking and that is it's very hard that when that's gonna happen. Right now we're fighting off a government program and housing that had boosted -- a little bit and then pulled the rug out from under it and so why. You know whenever when the government announced the plan everybody -- that the now that the plan -- gone away we conceded downside it didn't really create permanent jobs are created some temporary fix than that now we've got to figure out whether housing sector really is so that they can rise again and that. When I'm making it up houses to -- catch up with Stanley formation in the United States. And so it seems the media -- that recent -- for the housing. You know. House building to pick up again they're -- complicated and the economy. -- different things going on a different factors -- for the most part we are creating jobs are moving in the right direction we're just not moving fast and.
I'm Bob Brusca chief economist at fact and opinion economics thanks very much thank you. And now the daily news nugget usually can use the water cooler. And and what kernels of information do you have for us to chew on today. Boards which takes a look at a lot of different aspects of the economy is focusing on the NFL today. Telling us which teams are the NFL's most valuable. Overall -- team values fell 2% last year that's for the first time since Forbes began keeping track of these numbers. Back in the late 1990s. So the most valuable and it -- team is that cowboys in fact they -- the second most. -- profitable sports franchise number one it's Manchester United and I it was soccer the soccer -- of -- yes okay. Thank thanks for clarifying and I was wondering about them but. And number secondly they have the Redskins and third place Washington DC Washington DC and in their place we have the New England Patriots. At the other end we've got PM Minnesota Vikings for one thing. And we also have by the jaguars spent down there at the bottom from Jacksonville Jacksonville yes yes indeed. And your favorite team is.
I don't know I really have a favorite football team.
Okay well just being honest thanks for being under the.
Kill -- there safari -- how about you -- who's your favorite.
I like the New England Patriots have grown up with them for thirty years. 35 years also when I lived in New York I would watch the jets and the giants you know. I like the Baltimore Ravens too I like teams with great defense it's and had no right. You grow up and filling in you can like the Eagles. Eagles fans -- angles it could be pretty interesting. Yes. Well behaved and that's whale got word intoxicated right now now Eagles fans they are special breed they are. That is our daily news nugget courtesy of and Kate thanks and thank you I'm John word -- this has been MarketWatch news break and we're out here.
