Here’s a look at what will be driving news in the coming week:
JOBS JOBS JOBS The New York Dept. of Labor announced that the state added 29,400 jobs from June to July, with 14,100 of those coming in the private sector (with both numbers increasing at a faster rate than national economy). With strong private job growth in Westchester, particularly in the professional services and hospitality sectors, look for local unemployment rate to drop when it is released later this week.
BACK-TO-SCHOOL SURGE? Retail expert says that consumers are “scared out of their wits” and that retail is “in a catastrophe state.” Ominous sign for retailers hoping the back-to-school shopping season will boost revenue? See Kelly Liyakasa’s story for more.
MARKETS LOOK TO REBOUND Markets posted a strong opening on Monday morning, as investors look to move past H-P’s struggles and European uncertainty. Look for another up-and-down week on Wall Street.
WHAT NO ONE ELSE IS TALKING ABOUT Newspapers, led by USA Today publisher Gannett Co., are struggling and have seen lower advertising revenue across the board so far in 2011. See the WSJ story here.
DUE OUT THIS WEEK Stay posted for two major economic indicators, as the U.S. releases July new home sales numbers tomorrow and its second 2Q GDP estimate on Thursday.