More than a dozen categories of jobs are exempt from the minimum, currently $7.25 an hour. Tom Harkin, D- Iowa, would gradually raise the minimum to $10.10 by 2016. The Congressional Budget Office estimates it would mean higher earnings for 16.5 million workers— but also would cost 500,000 others their jobs.» Read More
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?
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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.
Costlier energy and food helped push July prices up, but oil prices have begun to decline and analysts hope that the worst might be over.
If money is tight, here are some ways bring in a little extra that you may not have considered.
The Bank of England signalled today that interest rates in the UK will remain on hold for the coming two years if it is to bring inflation back to target even though the economy will be teetering on the edge of recession.
The U.S. economy may yet slip into recession, but inflation is an even bigger risk given the "exceptionally'' stimulative stance of monetary policy, Richmond Federal Reserve President Jeffrey Lacker said Tuesday.
U.S. small businesses spirits faded in July as owners reined in plans to create jobs and for capital spending, according to a survey released Tuesday.
Oil inflicts heavy economic pain on the way up, but a slower and smaller benefit on the way down.
Economists have soured on the U.S. economy's prospects for the second half of 2008 and have cut growth forecasts for next year as well, a closely watched survey released Monday showed.
Just the potential for a U.S. recovery will bring "enormous" amounts of under-invested cash back into the stock market, the head of an investment group said.
Stocks ended near session lows as oil ended above $120 a barrel and two Dow components missed the Street's targets.
Stocks pared some losses Thursday afternoon as oil prices flattened out. Putting pressure on stocks today was a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss.