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
Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.
The nation's industrial output posted a modest increase in January as strength at utilities offset weakness in manufacturing and mining.
On Tuesday, we had the Warren Buffett rally. On Valentine's Day, it was the Ben Bernanke selloff.
Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.
The number of U.S. workers filing for jobless claims fell by 9,000 last week, though a more reliable gauge of labor trends hit a two-year high.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the state of the U.S. economy and financial markets delivered before the Senate Banking Committee.
Fed Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance before Congress on Valentine’s Day may bring him considerably more admirers.
Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday he expects the downtrodden U.S. housing sector to improve by the end of the year.
The U.S. appears likely to avoid an economic downturn but the chances of a recession have risen, St. Louis Federal Reserve Bank President William Poole said Monday.
Business coach and author John McKee suggests that this Valentine’s Day, maybe you should show some love not just to the love of your life, but also to the boss. His “quiz” helps uncover if you are the boss’s “pet—or just pet peeve.” Real Jane and Fake Jane both took the quiz. Now you can, too!
In remarks to an audience in Honolulu, Yellen said that an extended spell of slow growth as the most likely outcome, but she later told reporters that a recession was within the range of normal forecasting error.
The U.S. economy showed further signs of slowing, particularly with Thursday's report that the jobless ranks continued to swell last week
Jobless claims fell by 22,000 last week, but the number of workers remaining on jobless aid rose to its highest in more than two years.
The Fed must remain vigilant against rising inflation pressure this year even as the U.S. economy slows sharply, Philadelphia Fed President Charles Plosser said.
The most likely path for the US economy is sluggish growth for at least half a year before a gradual recovery begins, Richmond Federal Reserve Bank President Jeffrey Lacker said.
If the health of the economy is so murky, why has the Federal Reserve been so aggressive in cutting interest rates?
New orders at U.S. factories rose a less-than-expected 2.3 percent in December, the steepestgain since July, on strong aircraft sales, a government report showed.
The labor market may be weak, but that doesn't necessarily mean the US economy is in recession or on the verge of one.
The U.S. manufacturing sector staged a surprise recovery, while consumer sentiment improved in January, but construction spending in the U.S. fell for the third month in a row, reflecting continued weakness in the housing sector.
U.S. employers unexpectedly cut 17,000 non-farm jobs in January, the first time in nearly 4-1/2 years that U.S. payrolls shrank.