Ron Unz, Higher Wages Alliance chairman, says raising the minimum wage to $12 an hour would lift millions of workers out of poverty. Lindsey Piegza, Sterne Agee chief economist, debates Unz's initiative.» Read More
The latest overall job loss numbers showed a loss of 159,000 jobs in September while the unemployment rate remained at 6.1%, close to a five-year high. This is the largest payroll drop since March 2003. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
The worsening credit crisis is creating even more worry about the labor market outlook and there was little consolation in the jobs report Friday. All signs are pointing to further deterioration in the months ahead. The big question is how bad it will get and how quickly.
As the finance industry currently stands, no one sails on unaffected. For those laid off during the crisis, experiences and perspectives vary. Vault.com spoke to several people who are coping with layoffs firsthand, and got their own take on how they are moving forward.
Retirement expert Bill Losey advises an older couple with more debt than savings on how to get ahead -- even late in life.
As the credit crisis spreads around the globe, it is reverberating back to Main Street in ways never seen before. As such, stories similar to the Hendrick's Turf farm are being played out across America.
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
Stocks declined Wednesday as disappointing economic data added to the weight on investors shoulders over the strained credit market and haggling on Capitol Hill.
Stocks opened lower Wednesday, with investors at the mercy of progress on the proposed government financial bailout package.
Stocks looked set to start Wednesday in the red with investors at the mercy of progress on the proposed government financial bailout package.
When searching for a new job, especially in finance, it’s essential to stay informed of current business news and trends, since they’re often the topics of interview questions and lunch meetings, and could affect where (and to whom) you’ll be sending your resume.
Did you hear the joke about the Wall Street CEO who made as much as $20 million for 18 days of work? Oh, sorry, it’s not a joke! Alan Fishman got a $7 million signing bonus for agreeing to take the helm of troubled Washington Mutual and he’s in line to get another $13 million in severance now that JPMorgan Chase will likely fire him after its acquisition of WaMu.
Just when it looked like the baby boomers would be riding off into the sunset, 401k's and other investments tucked securely in pockets to sustain them through retirement, along comes a "once in a century" financial meltdown and jeopardizes an entire generation's post-working life prosperity.
Now, with a deal on the financial bailout expected soon, let's get back to the real economy—and the recession already in progress.
Irrespective of the bailout’s provisions, given the slow deal market, bankers throughout the industry will certainly receive much lighter bonuses this year versus last. And with the market expected to remain dry through 2009, bonuses next year won’t look much better.
The number of workers filing new claims for jobless benefits jumped 32,000 last week,while new orders for durable goods dropped by a sharper-than-expected 4.5 percent in August.
You've been promoted above your peers—and ex-drinking buddies. How do you deal with the inevitable resistance and get them to fall in line behind you?
The Treasury’s bailout plan for Wall Street will also benefit Main Street, Bill Gross, founder and chief investment officer of investment management firm Pimco, told CNBC Wednesday.
Everyone and their mother’s favorite industry observer are calling Morgan Stanley and Goldman Sachs’ status switch to holding companies the end of the large independent investment bank as we know it.
In the debate over homeowner aid in the Wall Street bailout, both sides appear to have forgotten that Congress approved a $300 billion mortgage rescue in July.
We have not seen the complete fallout from the market crisis yet. There will, no doubt, be more bank failures, consolidations and layoffs. This is a time to reflect, take inventory and prepare for the unknown.