Tens of thousands of fast-food workers around the U.S. are demanding a hike in the minimum wage to $15/hour. Popeye's crew member Mary Coleman discusses the challenges of trying to get higher pay from her employer.» Read More
The U.S. Federal Reserve took very "deliberate action" when it lowered key interest rates rapidly but this does not necessarily mean more of the same is in store, a top Fed official said on Friday.
Today's jobs report is unlikely to offer a ray of hope amid the gloom over the US economy as the trend for a weakening jobs market is expected to become clearer, analysts said.
The Fed is cutting rates to bolster the economy and keep the credit crunch from getting worse. But in the process, the central bank is creating other problems--including higher inflation
Fewer workers applied for unemployment benefits last week, but the number remaining on jobless aid stood at the highest level in nearly two and a half years.
U.S. home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter. Pending sales of previously owned homes were unchanged in January.
The global credit crisis creates big downside risks to an already softening economy that require bold action from the U.S. central bank, Cleveland Federal Reserve President Sandra Pianalto said on Wednesday.
Federal Reserve districts all saw decelerating economic growth in early 2008, even as prices pressed upward almost everywhere, the central bank's "Beige Book" report on economic conditions said on Wednesday.
The full text of the Beige Book released by the Federal Reserve on March 5, 2008 and based on information collected on or before February 25, 2008.
The services sector contracted in February, though not as badly as economists had expected, while factory orders fell in line with forecasts.
U.S. private employers cut 23,000 jobs in February, a report by a private employment service said on Wednesday.
The text of a speech by Federal Reserve Chairman Ben Bernanke on Reducing Preventable Mortgage Foreclosures given on March 4, 2008 in Orlando, Florida.
Recruitment firm Adecco's fourth-quarter net profit fell 29 percent but the decline was less than analysts' expectations, and the Swiss-based staffing company said it sees good growth rates in Europe.
Here's one big difference between Boeing and Northrop Grumman: PR. Going into the long-anticipated tanker decision Friday, the Boeing team was in hourly contact with us, preparing for post-decision interviews. They've been in regular contact with me since last summer. Heck, they even sent me KC-767 playing cards!
U.S. manufacturing slumped to its weakest in nearly five years in February, reinforcing worries the world's largest economy is headed for recession, while a fall U.S. construction spending in January added to the gloom.
The combined punch of subprime mortgage defaults and heavy debt remains the biggest risk to the health of the U.S. economy, a panel of business economists said Monday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
Subprime mortgage delinquencies and the credit crunch will trigger $400 billion in losses to the U.S. financial system and knock 1.3 percentage points from growth in 2008, according to a paper released Friday by four leading economists.
As if investors didn't have enough to worry about, Friday's batch of economic numbers shows more signs of recession as well as its evil twin--inflation.
U.S. consumer sentiment dropped to a 16-year low in February, hitting levels thatusually sound the alarm bells of recession, on worries about declining incomes and rising unemployment, a survey showed Friday.
U.S. Midwest business activity contracted sharply in February in a report Friday showingeven the areas of the country least affected by the boom-bust housing cycle are feeling ripples from the crisis.