HomeOwnera Alert: Watch for “Cash for Caulkers” Maybe Up to $12,000?

The US Administration proposed a program to give incentives to home-owners for home weatherization and energy efficient improvements and upgrades. This is in the proposal stage right now and whether will be done, details and funding need be worked out. By some estimates, up to 100 Million homes might benefit from energy efficiency improvements.

This has been nicknamed “Cash for Caulkers”, referring to the sealing caulk used to seal cracks around doors and windows.

This would be modeled after the very successful “Cash for Clunkers: program from last summer. The “Clunkers” program was very popular and ran out of money right after it started. Rather than replacing gas guzzlers to improve fuel economy, this program would give a “two-fer” benefit:
* Home owners through ongoing lower cost of energy.
* Jobs for the very hard hit construction industry.

In general, the main idea would be to encourage home energy efficiency, big and small and including equipment, materials and installation. Things that might be included are like:
1) Energy efficient appliances like washers and dryers.
2) Energy efficient air conditioners.
3) Insulation.
4) Double pane windows.
5) External wall insulation.

A plan proposed by the California venture capitalist John Doerr and ex-President Clinton would cost an estimated $23 Billion and involves:
* Incentive envisioned for about $4-6,000 for weatherization.
* Homeowner to pay one-half (50%).
* Includes funds for contractors to publicize the program.
Also, a limit of $12,000 per home is being discussed.

What Should You Do?
While this is in proposal stage, home owners should start preparing by:
* Look the around the house for energy efficiencies, big and small.
* Cost out possible energy efficient improvements and upgrades.
* Estimate pay back time periods, if available.
* Consider how you can take advantage of the program when finalized.

And stay tuned for further news on whether program will go and details (most probably in early spring after Congress finishes consideration of health care bills).

Govt November Jobs Report: 11,000 Job Losses: 10.0% Rate

The Labor Department November jobs report initial estimate of job losses was 11K (eleven thousand) and unemployment rate fell .2% to 10.0%. This is the lowest number of monthly job losses since the recession began in December, 2007. These numbers are closely followed as a barometer of the health of the US jobs market.

The Labor Department issues a job report on the first Friday of each month, estimating job statistics. This initial estimate is refined as additional numbers become available during following months.

Summary Key Statistics:
* 11K job losses as opposed to about 130K average of analyst estimates and last month 110K.
* Unemployment rate fell to 10.0% from 10.3% in October.
* Approximately 15.4 Million are seeking jobs.
* Underemployment rate fell to 17.2$ from 17.5%. This underemployed rate counts workers who have part time jobs but looking for full time or have been laid off and have stopped seeking jobs.
* Temporary jobs went up by 53K. This is good sign as coming out of downturn companies initially hire temps.

As a further positive, job losses for both September and October were revised lower by about 80K each.

While the November number indicates substantial improvement, many economists estimate further job losses continuing into next year with double digit umemployment rate,