The unemployment rate in the U.S. unexpectedly dropped to 9.7 percent in January, indicating the labor market may be poised to climb out of its deepest slump since World War II.
More than half a million Americans found work, a Labor Department report showed today in Washington, helping push the jobless rate to the lowest since August. A separate survey of employers showed payrolls declined by 20,000 as construction companies and state and local governments cut back.
Manufacturers hired more workers for the first time in three years, expanded hours and boosted pay, which may lift consumer spending and sustain growth. Revisions to previous data increased the number of jobs lost in the recession to 8.4 million, adding impetus to the Obama administration’s push for fresh government measures to boost employment.
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US President Barack Obama faced a delicate balancing act in presenting his budget for next year: Stimulating the economy without bankrupting the government.
The dilemma has only worsened after a year in which the Obama administration spent unprecedented amounts of public money to wrest the world’s largest economy from its deepest economic crisis since the Great [...]
Just over one year ago, President Barack Obama swept into office with the collective hopes of a nation shaken by a growing economic crisis and starved for change. With large Democratic majorities in Congress, it seemed that nothing stood in the way of a new era in American politics dominated by an energized Democratic Party. [...]
If you’re like me and reluctant to join the stock market frenzy with open arms, then consider buying reverse index funds that bet against Treasury bonds.
This strategy offers a high value alternative to joining a 50%-plus stock market rally since March as long-term interest rates rise on most days when the stock market climbs.
As stocks [...]
Just over one year ago, President Barack Obama swept into office with the collective hopes of a nation shaken by a growing economic crisis and starved for change. With large Democratic majorities in Congress, it seemed that nothing stood in the way of a new era in American politics dominated by an energized Democratic Party. [...]
The unemployment rate in the U.S. unexpectedly dropped to 9.7 percent in January, indicating the labor market may be poised to climb out of its deepest slump since World War II.
More than half a million Americans found work, a Labor Department report showed today in Washington, helping push the jobless rate to the lowest since [...]
US President Barack Obama faced a delicate balancing act in presenting his budget for next year: Stimulating the economy without bankrupting the government.
The dilemma has only worsened after a year in which the Obama administration spent unprecedented amounts of public money to wrest the world’s largest economy from its deepest economic crisis since the Great [...]
Wall Street reform died this week.
It died Tuesday before the Senate Banking Committee from unnatural and illogical causes: the finance lobby, obstruction, fear-mongering and plain ignorance.
Rarely does financial history offer a living, breathing voice of reason in crucial times, but listening to Paul Volcker spell out his plan for reform was such an event. Too [...]
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