The auto company that Mitt Romney and his fellow Republicans wanted to leave for dead on the side of the road is alive and well and employing more than 200,000, as the Detroit Free Press reports:
General Motors surpassed Toyota and Volkswagen to reclaim the crown of world’s largest automaker with global sales of 9.03 million vehicles in 2011.
That was 11% higher than Volkswagen, which last week reported 2011 global sales of 8.16 million. Toyota has not yet reported its final 2011 sales, but last month the Japanese automaker estimated it sold 7.9 million vehicles globally last year….
GM’s 2011 sales rose 7.6% from 2011. Sales in the U.S. led the way for Chevrolet with total vehicle sales of 1,775,812, up more than 13%.
And then there’s this from Bloomberg:
Jan. 19 — Claims for jobless benefits last week dropped to the lowest level in almost four years, pointing to an improvement in the U.S. job market that may help bolster spending in the new year.
Applications for unemployment insurance payments plunged by 50,000 to 352,000 in the week ended Jan. 14, less than forecast and the fewest since April 2008, according to data from the Labor Department issued today in Washington. …
Jobless claims, which tend to be volatile week to week around holidays, have trended down over the past month, a sign employment may pick up after payrolls grew by 200,000 in December. Gains in incomes, combined with less inflation, will probably underpin household spending, which accounts for about 70 percent of the world’s largest economy.
“We’ve had fundamental improvement in the labor market in the past few months,” said Ellen Zentner, a senior economist at Nomura Securities International Inc. in New York.
All in all, there’s only one thing to be said, and I know just the four lads to say it:
– Jay Bookman