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The housing market, which already has been battered by the worst collapse since the Great Depression, could be setting itself for another bubble, well-known economist Robert Shiller told CNBC.
Consumer spending, which roughly accounts for 70 percent of economic activity, and housing, about 20 percent of GDP, have been hit with the equivalent of 100-year storms.
The White House on Friday welcomed a dip in the nation's unemployment rate but said President Barack Obama still expects it to hit 10 percent this year.
If domestic spending has been the engine of economic growth in the past few decades, then the coming recovery — and the job creation that comes with it — won't be a smooth ride.
The latest overall job loss numbers showed a loss of 247,000 jobs in July and the unemployment rate fell to 9.4%, the fewest losses since August last year. The June and May numbers were revised downward as well. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
July's employment report could show job losses abating more than expected, even as the unemployment rate creeps closer to 10 percent.
Consumer spending has been so shaken that it will take years to recover. And even then, the growth will be slow and painful and with subpar job creation.
Ready for a good scare? The national debt clock is now online, and it's brought 38 of its evil statistical friends with it to freak you out.
You don't have to wait for the Labor Department report on employment. If you want to know the state of the job market, look no further than Trina Thompson. A recent IT grad, Thompson is suing her college because she hasn't found a job yet.
Venturing back to a region reeling in deep unemployment, President Barack Obama's latest mission in Indiana is to show that the costly stimulus plan he lobbied for is producing tangible help — $2.4 billion in taxpayer grants to create electric cars and tens of thousands of jobs.
After a year and a half of declining payrolls, economists are more certain there will be modest job creation than either a "jobless recovery" or an outright jobs boom.
The winner of one of Britain's most coveted jobs says her new profession is abandoning the housing market to live in a cave. And she says it's a step up.
Internet company IAC/InteractiveCorp, which owns sites such as Ask.com and Match.com, has weathered the economy more successfully than most old media companies, CEO Barry Diller told CNBC Friday.
Jerusalem's new mayor Nir Barkat was in New York today to announce a plan to boost tourism five-fold in the next decade.
For a recent college graduate, the summer months can be a whirlwind. And as the unemployment rate rises — with employers slashing 467,000 jobs in the month of June — grads can be so caught up trying to secure a job that they lose track of another essential: health insurance.
Of all the problems thrown up by the ailing economy, an aging workforce is certainly one of the smaller ones, but for those in leadership positions, recognizing its effect on the next generation of talent is likely to be key in retaining that talent beyond the new retirement dates of their more experienced employees.
With talk of recovery in the United States filling the economic debate, it's important to ask what is meant by the term recovery. Semantics matter.
Thursday's announcement that U.S. employers cut 467,000 jobs in the month of June is a "disappointment," but still an improvement over the 700,000 a month that were shed in earlier months this year, said Christina Romer, chair of the President's Council of Economic Advisers.
The latest overall job loss numbers showed a loss of 467,000 jobs in June and the unemployment rate climbed to 9.5%, the highest rate since August 1983. The May and April numbers were revised to losses of 322,000 and 519,000, respectively. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
Out-of-work with no place to land, the legions of America's unemployed are growing. The Labor Department is scheduled to release a report Thursday expected to show the nation's unemployment rate edging closer to double digits.