Nightly News | January 01, 2011
New year, new economic solutions?
With economic woes and high unemployment still plaguing the nation, some wonder whether there's reason for economic hope in the new year. NBC's John Yang reports from Chicago.
Share This:
Stocks & economy
-
Banks sued for flagrant violations
All In
May 06, 2013 -
Economy growing, despite GOP obstruction
PoliticsNation
May 03, 2013 -
Unemployment rate at a four-year low
Nightly News
May 03, 2013 -
Swonk: ‘This was a real decline in the unemployment rate’
Nightly News
May 03, 2013 -
Jobs report pushes Dow, S&P to record closes
CNBC
May 03, 2013 -
April jobs report shows 7.% unemployment rate
The Daily Rundown
May 03, 2013 -
Krueger: Jobs numbers show 'resilience' of U.S. economy
The Daily Rundown
May 03, 2013 -
Jobs report: Unemployment lowest since Dec. 2008
CNBC
May 03, 2013 -
The great 401(k) caper: How $1 fee becomes $32
NBCNews.com
April 23, 2013 -
Hacked Twitter feed sends shudders through US
CNBC
April 23, 2013 -
Homeowners getting it from all sides
All In
April 11, 2013 -
How should you tackle your financial debt?
NBCNews.com
April 10, 2013
This content comes from a Full-Text Transcript of the program.
KATE SNOW, anchor: No matter what the political debate is in Washington this January, Americans don't really need lawmakers to tell them that the economy was sluggish in 2010 . Unemployment has stubbornly hovered around 10 percent. But what is the forecast for 2011 ? NBC 's John Yang takes a look.
JOHN YANG reporting: The government's final economic report of 2010 had a glimmer of good news. First-time claims for unemployment benefits dropped to the lowest level in more than two years. That and the best holiday shopping season in years have raised hopes for 2011 .
SUE HERERA reporting: I think the economy is going to slowly and steadily improve, and I think that it will be a much better economic year than 2010 was.
YANG: But not all consumers agree. This week a widely watched measure of consumer confidence dropped.
Unidentified Woman #1: I do not see things getting better in the short term, and for me it's scary.
YANG: There are lots of reasons for concern. After showing signs of recovery, home prices are sinking again. It's raising fears of a double-dip housing recession. Meanwhile, other prices are going up.
Ms. PATTY EDWARDS (Trutina Financial): We've got inflation coming, and that is going to be a problem for the consumer.
YANG: It's already showing up at the gas pump. Nationwide, the average price for a gallon of regular is above $3, a level not seen since 2008 and up nearly 21 cents in just the past month.
Unidentified Woman #2: We'll do all the trips in one. If I'm going to go to the supermarket, then go to the gym, and then pick somebody up, then we come back home.
YANG: Higher fuel costs mean higher transportation costs, and that ripples through the economy. At the grocery store, the government predicts higher inflation in the first six months of 2011 . Pork is already up 12.9 percent over last year, beef up 6.2 percent, dairy up 3.8 percent.
Unidentified Man: Before you weren't paying attention to, you know, a can of beans that you would buy, and now you are.
YANG: As old worries about the economy continue into the new