A new study shows real wages for manufacturing workers declined three times as much as for workers as a whole.» Read More
President Obama says that while tax rates must go up for a "fiscal cliff" deal, it may be possible to lower rates at the top end of the scale late next year as part of tax reforms.
"What some people are calling a 'bungee jump' could cause an economic heart attack," says BofA economist Ethan Harris.
Bank of America CEO Brian Moynihan said "fiscal cliff" uncertainty has already hurt 2013 business spending and said the failure to reach a resolution presents not only a near-term recession risk, but also the possibility of longer negative effects.
Governments and economists from elsewhere in the developed world are looking East for a clue to the long-term consequences of loose monetary policy.
Spain's number of jobless rose by 1.5 percent in November from a month earlier, or by 74,296 people, leaving 4.9 million people out of work.
Detroit's fiscal clock is ticking down again as the city faces running out of money by the end of the year unless a political squabble between the mayor and city council can be resolved.
In line with expectations, the Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut on Tuesday, taking the benchmark interest rate to 3 percent - its lowest level since 2009. However, analysts remain divided on whether the central bank will push rates even lower next year.
Greece's economy is in recession but there are reasons to be upbeat and the debt-laden nation will be able to rebound strongly as it works its way through reforms, European Central Bank governing council member Christian Noyer told CNBC.
Republicans proposed steep spending cuts on Monday but gave no ground on President Barack Obama's call to raise taxes on the wealthiest in their first formal proposal to avert a "fiscal cliff" that could push the U.S. economy into recession.
Have a 'fiscal cliff' question? Ask Obama.
Americans hate paying taxes. They also want Congress and the White House to balance the budget. That decades-long conflict seems to be approaching a Moment of Truth.
President Obama and Democrats have "a mantra, but they don't have a plan," said former House Majority Leader Dick Armey.
President Obama may get Republican cooperation in soaking the rich, but the deal that emerges could put the nation in dire straits by the end of the decade.
U.S. manufacturing unexpectedly contracted in November, falling to its lowest in over three years in a sign the sector may be struggling to gain traction.
A deal by Christmas, a week before the fiscal cliff deadline, remains uncertain, but not out of the question.
Jacob Lew will guide the White House through negotiations with Congressional Republicans to avert automatic tax increases and spending cuts on Jan. 1. The New York Times reports.
Some small businesses are rethinking their business models to address the new federal health-care law.
Companies are seeking concessions from states and cities to keep jobs local, and the giveaways are adding up to a big bill for taxpayers. The NYT reports.
North Korea said it would carry out its second rocket launch of 2012 as its youthful leader Kim Jong-un flexes his muscles a year after his father's death, in a move that South Korea and the United States swiftly condemned as a provocation.
America's appetite for new cars and trucks surged to a new high in November as auto sales ran at their fastest pace since early 2008.
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