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Taxpayers must pay the freight for over-budget train projects
Topic - Unicredit Markets
The federal shutdown last month caused a small rise in the unemployment rate to 7.3 percent but it was a surprisingly good month to find jobs in the private sector, the Labor Department reported Friday morning.
The Federal Reserve maintained its easy money policies Wednesday, noting that federal budget cuts and the October shutdown continue to weigh on growth and as a result, the economy continues to need support.
The U.S. economy just barely eked out a quarter of growth at the end of last year, according to revised estimates published by the Commerce Department on Thursday morning.
Unemployment ticked up to 7.9 percent despite a better-than-expected job gain of 171,000 last month, the Labor Department reported Friday morning.
Job growth ground to a halt last month in the strongest evidence to date that businesses were hit as hard as consumers by a sharp loss of confidence during the month spawned by Washington's debt crisis and severe turmoil in the world's financial markets.
Washington's spendthrift ways have taken much of the blame for sending the budget deficit more than $1.5 trillion during the recession, but equal blame should go to a collapse in federal revenues to 60-year lows, budget analysts say.
American workers are getting squeezed, not able to get ahead because anemic growth in their wages is not keeping up with the fast rise in prices for food, fuel and other necessities.
Inflation is making a quick comeback after touching the lowest levels in decades last fall.
The economy turned an important corner at the end of last year, recouping all the ground lost during the Great Recession and expanding into record territory.
A common refrain these days is that Americans are learning to save more and spend less, depending less on credit cards and unsustainable increases in mortgage debt to finance lifestyles that many can't afford.
The nation's businesses created another 64,000 jobs last month -- adding to a string of steady gains this year that has been welcome for job-hunters but not strong enough to draw down the unemployment rate.
The worst recession since the Great Depression ended more than a year ago, the nation's official scorekeeper declared Monday, but the aftershocks from the once-in-a-century event continue to reverberate through the economy and people's lives.
The nation's economic outlook improved Thursday as the government reported big drops in the nation's trade deficit in July and a large decline in claims for unemployment benefits last week.
The economic outlook improved Thursday as the government reported big drops in the nation's trade deficit in July and a large decline in claims for unemployment benefits last week.
The nation's highest income groups predictably did better during the recession and socked away their money, new government figures show, but wealthier Americans' newfound penchant for savings is already driving Democratic calls to raise taxes on them this fall.