SACRAMENTO, Calif.— A California effort to lead a national debate over the growing wage gap between CEOs and average workers took its first step in the state Legislature on Thursday with support from Democratic lawmakers, organized labor and former U.S.» Read More
The Dow tanked on Thursday, as more signs of weakness in the labor market heightened concerns about the economic outlook. Will Friday's jobs report stem the selling?
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The dual mandate of the Federal Reserve is "too complicated a job for central banks to do, where the temptation to act opportunistically becomes almost irresistible," while inflation-targeting is the right objective for a central bank, former MPC member Professor Willem Buiter told CNBC Europe in a television interview.
The following is the full text of the Beige Book released by the Federal Reserve on September 3, 2008 and based on information collected on or before August 25, 2008:
Downsizing slowed in August but was still up from a year ago according to Challenge, Gray & Christmas. Tomorrow we will get the jobless claims numbers and on Friday we will get the latest non-farm payroll and employment numbers from the Bureau of Labor Statistics. Here is a breakdown of where the jobs are and recent trends.
Little attention has been paid to what a recession and spike in unemployment would do to an already battered housing market.
Even if the European Central Bank holds rates on Thursday the euro's supremacy on the currency markets is close to an end, analysts said on Wednesday.
Although attention is focused on the petroleum industry as Hurricane Gustav takes aim at the Gulf Coast, billions of dollars are at stake in other economic sectors: New Orleans' trademark tourism industry, the shipping business, sugar harvesting -- and even such niche products as red-hot Tabasco sauce.
The head of the European Central Bank should be running the Federal Reserve because he is doing a better job at protecting his economy, investor Jim Rogers, CEO of Rogers Holdings, told "Squawk Box Europe" on Friday.
Thunder rolled across Las Vegas in a sudden downpour Monday, a literal representation of the perfect storm that has rocked Sin City.
Below is the minutes released by the Federal Open Market Committee after its July 24 meeting on interest rate policy:
Most Fed officials thought interest rates weren't too low at the August meeting, but they also expected their next move would be to boost rates, minutes show.
As U.S. Fed chiefs met in Jackson Hole, Wyoming to discuss ways of preventing another credit crisis, CNBC's Steve Liesman asked top economic minds for their insight on the government's actions.
Federal Chairman Ben Bernanke indicated the Fed should be able to keep interest rates low for some time, as the recent drop in commodity prices should reduce the threat of inflation.
The market will be eagerly waiting to hear about jobless claims on Thursday when the government releases its weekly report. Will we get a surprise like we did last week?
Also, making a plan for paying off student loans.
Looking to make more money? Check out the 15 highest-paying jobs in America, ranked by their national average.
The world's No.1 staffing agency Adecco said on Friday it will continue to pursue British recruitment company Michael Page which has twice rejected bid offers worth 400 pence (748.9 cents) a share.
Merrill Lynch, reeling from billions of dollars of writedowns, has frozen hiring until year end, according to a memo sent to employees.
The number of U.S. workers filing new claims for jobless benefits fell by 10,000 last week but remained at levels that show labor markets under severe strain.