SAO PAULO/ BRASILIA, Aug 22- Many of Brazil's biggest retailers, homebuilders and carmakers are cutting jobs as Latin America's largest economy teeters on the edge of recession, a fresh blow to President Dilma Rousseff's re-election bid.» Read More
While an increase, the latest overall job loss numbers are still well below the six figure numbers seen in past recessions. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
Stocks opened flat Friday as investors shrugged off a worse-than-expected March employment report.
US employers cut payrolls by a bigger-than-expected 80,000 in March, more evidence that the economy is in a recession.
The Federal Reserve has been wise to keep the dollar weak as the economy navigates its way through the current liquidity shortage, the former chairman of the central bank's Dallas branch said.
For the second time this week, a senior Federal Reserve official conceded the United States economy could slip into recession, but suggested the central bank should wait to see if more rate cuts are needed.
The number of US workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005 and reinforcing fears that the U.S. economy has stalled, government data on Thursday showed.
407,000 initial jobless claims is the highest since the 425,000 reading of Sept 16, 2005. Disappointing. Futures dropped 8 points, bonds rallied. Continuing concerns over writedowns of European banks caused a brief rally in the dollar, but the poor jobless claims has taken much of the gains out.
An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
European stocks closed broadly higher Wednesday, despite a warning from Federal Reserve Chairman Ben Bernanke that the U.S. economy was set to shrink and a recession was possible.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
Spain's Sacyr Vallehermoso will not have to make a $12.5 billion cash takeover bid for French public works firm Eiffage, a Paris court ruled on Wednesday.
Key regions of the United States remained mired in recessionary conditions this month, data Monday showed, as the slowdown in the world's largest economy wore on and inflation continued to hurt businesses.
I'll admit it: along with everyone else in Hollywood I have serious strike fatigue. And I'm really hoping--or the sake of my favorite TV shows as well as for the Los Angeles economy--that we do NOT have an actors strike.
The full text of a speech on the "Blueprint for Regulatory Reform" given by Treasury Secretary Henry Paulson on March 31, 2008:
Business activity in the U.S. Midwest contracted in March for the second consecutive month, a report showed Monday that continued the recent run of data highlighting worries of recession.
U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 billion into consumers' hands this year and next could help create hundreds of thousands of new jobs.
The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
The economy nearly sputtered out in the final quarter of last year and is probably faring even worse now amid the continuing housing, credit and financial crises.