Unemployment data suggest that the economy might have entered hysteresis, a physics term that refers to temporary market change that leads to permanent economic loss. In this case, the large number of workers who filed for disability when the recession began might become a permanent drag on the economy. More than 5% of the civilian workforce receives federal disability benefits, according to JPMorgan Chase.
Companies are moving forward cautiously after the Securities and Exchange Commission has given permission to release material financial information via social media. One example is the California State Teachers' Retirement System, which plans to vet information it releases on social media to make sure it is not misleading and meets regulation.
Harsco has secured a $9 million contract to supply scaffolding and insulation to Royal Dutch Shell's refinery near Pernis, Netherlands. The ultra-low-sulfur fuel-production facility is expected to be finished by the end of 2011.