The Philly Fed president is the latest central banker to suggest that weakness in the labor market is only temporary.» Read More
Unemployment in the 13 nations that use the euro fell to a new record low of 7.2 percent in October, the EU statistics agency Eurostat said Monday, as Europe's recent growth spurt cut jobseeker queues that are the longest in the industrialized world.
The Federal Reserve will cut interest rates by a full percentage point before June to help the housing market, Citigroup's chief economist, Lewis Alexander, said.
Dutch staffing company Randstad Holding said Monday it will bid around 3.51 billion euros ($5.17 billion) in cash and shares for peer Vedior, in a management-backed takeover that would create the world's second-largest employment agency.
Economists say the Fed is almost certain to lower interest rates Dec. 11, but key economic data in the week to come will determine if its a quarter point or half a point.
The U.S. economy is continuing to show weakness in everything from personal spending and income to construction spending, according to several reports out Friday
Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.
Softer-than-expected new-home sales and a surge in jobless claims heightened fears of a steep U.S. economic slide.
The White House lowered its U.S. economic growth forecast for 2008 Thursday because of trouble in the housing and credit markets, but said the economy remained resilient and a six-year expansion would continue
The U.S. economy grew at a robust 4.9% rate in the third quarter, but a surge in jobless claims last week signaled a major slowdown in the fourth quarter.
Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
The Fed's No. 2 official signaled a willingness to cut interest rates further, saying renewed financial market turmoil could slow the economy more than thought.
The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.
The economy may avoid a recession in the year ahead but it's almost certain that there will be months of slow growth.
New orders for long-lasting U.S.-made manufactured goods dropped for a third month in a row during October and companies appeared wary about making new investments, according to a Commerce Department report on Wednesday.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.
A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.
Former Federal Reserve Chairman Alan Greenspan said on Friday that U.S. house prices have not bottomed out after a crisis in the subprime mortgage market.
Five United Airlines workers sought medical attention for nausea and vomiting after the company provided a Thanksgiving meal to employees.
U.S. Treasury Secretary Henry Paulson said the number of potential U.S. home-loan defaults "will be significantly bigger" in 2008 than in 2007, the Wall Street Journal's online edition reported.