Online sales show growth in Q4
E-commerce sales continue to grow, proving that more and more consumers are choosing to shop online in addition to or instead of shopping at brick-and-mortar stores. Measurement firm comScore reported that online retail spending (excluding auctions, autos and large corporate purchases) for the fourth quarter reached $49.7 billion, up 14% versus year ago. This growth rate represented the ninth consecutive quarter of positive year-over-year growth and the fifth consecutive quarter of double-digit growth rates. For the entire 2011 year, U.S. retail e-commerce spending reached a record $161.5 billion, marking a 13% increase from 2010.
"The fourth quarter of 2011 capped off what was yet another strong year for online retail, one in which every quarter achieved double-digit increases versus the prior year," said comScore chairman Gian Fulgoni. "In the face of continuing uncertainty regarding the U.S. economy, consumers increasingly went online for their shopping needs. Price and convenience continue to be the critical value drivers for e-commerce, and unless those conditions change we can expect to see more channel-shifting to online in 2012 and perhaps even an acceleration in the current growth trend."
According to comScore, online sales were dominated by digital content and subscriptions, jewelry and watches, consumer electronics, toys and hobbies and computer software. The quarter was also marked by 10 individual days that surpassed $1 billion in online spending. They include Cyber Monday (Nov. 28) at $1.251 billion. Monday, Dec. 5, 2011, ranked second at $1.178 billion, followed by Green Monday (Dec. 12) at $1.133 billion.
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Employment rise little help to construction workers
The recent national upturn in job growth has not reached the construction industry, where unemployment rose from 16% in December to 17.7% in January. Those looking for work outpaced the 21,000 new construction jobs created, according to a statement released by the Laborers’ International Union of North America (LIUNA).
“While we’re encouraged to see the President’s efforts are moving our country in the right direction, today’s jobs report reveals more is needed to close the gap between those looking for work in construction and the number of new jobs being created in the industry,” said LIUNA president Terry O’ Sullivan. “Job growth is not happening fast enough.
“With 1.4 million men and women ready, willing and able to go to work building this country, there is no better time for Congress to take action by passing a highway bill that fully invests in America’s crumbling roads, bridges and transit systems,” he added.
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Estetik cerrahi vücudun
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This tells it all.
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Readers Respond: Remedies for a recovery
In a far-reaching plan that covered everything from foreclosures to new mortgage agreements, President Obama unveiled a “Homeowner Bill of Rights.” Here’s the White House’s fact sheet. And below are readers’ comments.
“Frankly this is not a good faith effort. Obama and his minions know that these efforts will not pass the ‘smell test’ in the House. There is no chance that the House of Representatives will embrace the concept of indemnifying people who made risky investments and lost. It won’t happen. What Obama’s re-election committee hopes is that they will not embrace the plan, and it then will become a talking point for his campaign. He then will have carte blanche to say that his plan would have worked, but the evil Republicans shot the plan down because they don’t care about those poor people in distress.
— George McCullough
Quaker Chemical Corporation
“If the housing stimulus funds are anything like the federal stimulus money spent on roadways in California over the last three years, then the money will only go to union contractors and then on a time and material basis. No bidding and no non-union contractors allowed.”
— Augie Venezia
Fairfax Lumber & Hardware
“Another government program that will cost taxpayers more money. When will the spending stop? Just let the housing market recover through the free enterprise system. It has worked in the past and will work now if the administration stays out of the housing market. Also, I question the timing of this grand plan since we are in an election year.”
"This is about banking reform, which we should all want to stabilize our business and the economy. Home-ownership is something that contributes greatly to our industry. We should welcome legislation that makes it possible for responsible people to get mortgages without red tape and unethical practices. Politics should not be part of this discussion."
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