recession – News Stories About recession - Page 15

Young Black Men Hit Hardest By Recession

34.5% unemployment

Nov 24, 2009 6:21 AM CST

Young Black Men Hit Hardest By Recession

Demographic's unemployment reaches Depression-era levels

(Newser) - The recession has sent the unemployment rate among young black men soaring to rates not seen since the Great Depression. The jobless rate among black males aged 16 to 24 hit 34.5% last month, more than triple the rate for the general population. The demographic has been especially hit...

Once-Profitable Services
Are Killing Local Budgets

Nov 23, 2009 11:52 AM CST

Once-Profitable Services Are Killing Local Budgets

Utilities, transport, even gambling, are now $3.5B drains

(Newser) - Municipally owned businesses like utilities, public transportation, and betting parlors used to bring in much-needed cash flow, but the recession has done its predictable work. State and local governments nationwide will likely hemorrhage $3.5 billion this year running these concerns which brought in upwards of $120 billion during the...

Suicide Rate Rising

Nov 23, 2009 4:49 AM CST

Suicide Rate Rising

Data shows uptick in suicides during recession

(Newser) - The suicides this year of a Freddie Mac boss overwhelmed by investigations into his company and a banker whose firm lost $1.5 billion in the Madoff scandal offer two high-profile examples of a trend confirmed by recent data: the US suicide rate is rising in the wake of the...

Millions Must Repay Part
of Stimulus Tax Credit

Nov 17, 2009 12:49 PM CST

Millions Must Repay Part of Stimulus Tax Credit

Withholding errors mean 15.4M will get smaller refund or owe money

(Newser) - An IRS tax credit designed to lighten the load on recession-addled taxpayers won't work out as well as hoped for about 15.4 million Americans. Because certain minutiae of the new Making Work Pay credit weren’t factored in to withholding tables, more than 10% of taxpayers who file individual...

It's About the Jobs, Stupid

paul krugman

Nov 13, 2009 8:20 AM CST

It's About the Jobs, Stupid

The US needs to create work for Americans

(Newser) - The US has to shake up conventional thinking and create jobs for out-of-work Americans, writes Paul Krugman . Our current misguided thinking—as evidenced by unemployment north of 10%—isn't so much a jobs policy as GDP policy. "If you grow it, they will come," goes the philosophy. Get...

Buffett:
'Financial
Panic Is
Behind Us'

Nov 12, 2009 9:14 PM CST

Buffett: 'Financial Panic Is Behind Us'

He sounds optimistic note at Columbia University forum

(Newser) - Warren Buffett says the worst is over. "The financial panic is behind us," he declared at Columbia University. The Berkshire Hathaway chief acknowledged that the US economy "still is sputtering some," but he sounded a bullish note on investment opportunities around the globe. While he gave...

9 Other States Have Calif.-Sized Fiscal Messes

Nov 11, 2009 8:14 PM CST

9 Other States Have Calif.-Sized Fiscal Messes

Ariz., Fla., Ill., Mich., and NJ among others facing crises

(Newser) - California has by no means cornered the market on enormous financial problems at the state level, with a report out today saying Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, and Wisconsin are also at tremendous risk. The Pew Center sees widespread unemployment, huge budget deficits, and the...

Fast-Food Star of
Recession: $5 Footlong

analysis

Nov 7, 2009 11:34 AM CST

Fast-Food Star of Recession: $5 Footlong

Subway is rewarded for listening to franchisee

(Newser) - BusinessWeek has found what it calls the "fast-food success story of the recession"—the $5 footlong sandwich from Subway. The simple idea began with a franchisee who noticed slow sales on weekends and decided to knock down prices to bring in customers. After sales went through the...

Expect Unemployment
to Keep Rising

megan mcardle

Nov 6, 2009 11:33 AM CST

Expect Unemployment to Keep Rising

Companies still aren't sold on a long-term recovery

(Newser) - Anyone hoping that today's worse-than-expected news of 10.2% unemployment means we've hit rock bottom is going to be disappointed, writes Megan McArdle . "This figure is likely to get worse before it gets better." Companies need more proof of a long-term recovery before committing to new hires. In...

What Broke
Celebs Can
Teach Us

TIPS FOR THE MANSIONLESS

Nov 6, 2009 9:38 AM CST

What Broke Celebs Can Teach Us

Don't make the same mistakes as Nicolas Cage and Annie Leibovitz

(Newser) - Celebrities really are just like us: During these financially stressful times, they’re suffering, too. On Huffington Post, Manisha Thakor points out the takeaway from four high-profile meltdowns.

NBA Player Antoine Walker: Squandered away his $110 million fortune by age 33. The lesson? If you have a variable income, don’

...

Unemployment Jumps to 10.2%

Nov 6, 2009 7:50 AM CST

Unemployment Jumps to 10.2%

Companies cut 190,000 jobs last month

(Newser) - Unemployment cracked the 10% barrier last month, as 190,000 workers lost their jobs, according to Labor Department figures released today. The bigger-than-expected losses bring the rate to 10.2%, a 26-year high. And the underemployment rate, which includes would-be full-timers working part time and those who've given up looking...

NFL Scores Ratings Touchdown

Nov 6, 2009 7:41 AM CST

NFL Scores Ratings Touchdown

Recession keeps people on couch on Sunday

(Newser) - NFL ratings are through the roof this year, as the recession keeps fans on the couch on Sunday afternoons...and Sunday nights and Monday nights. Ratings are at a 20-year high, with an average 17.2 million watching each game. “The NFL and television are actually getting the so-called...

Dems Will Regret Not Being Bolder on Economy

PAUL KRUGMAN

Nov 6, 2009 6:48 AM CST

Dems Will Regret Not Being Bolder on Economy

Voter backlash is about failure to lower unemployment

(Newser) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when...

Voters Punished Obama,
Dems for Going Deaf

PEGGY NOONAN

Nov 6, 2009 5:19 AM CST

Voters Punished Obama, Dems for Going Deaf

Election should be a wake-up call for out-of-touch White House

(Newser) - The Democratic Party should view its walloping in Tuesday's election as an opportunity to start listening before it's too late, writes Peggy Noonan . The Democrats have been focusing on the wrong issues since they gained power last year and that explains the huge swing to the Republicans in Virginia and...

Economic Fury
Is the New
Culture War

PETER BEINART

Nov 4, 2009 11:19 AM CST

Economic Fury Is the New Culture War

Deficits were the rallying cry for yesterday's winners

(Newser) - "Conservatives have supposedly gotten their groove back," Peter Beinart writes about the results of yesterday's state races, "but it's not the same old groove." The candidates who won—or almost won—downplayed social issues and focused on the economy, which Beinart calls the “new culture...

Half of US Kids Will Get Food Stamps at Some Point

Nov 2, 2009 9:29 PM CST

Half of US Kids Will Get Food Stamps at Some Point

Figure hits 90% for black children, study finds

(Newser) - Nearly half of all US children and 90% of black youngsters will be on food stamps at some point during childhood, and fallout from the current recession could push those numbers even higher, researchers say. The estimate comes from an analysis of 30 years of national data, and bolsters other...

Credit Stimulus for
650K Jobs: White House

Oct 30, 2009 11:18 AM CDT

Credit Stimulus for 650K Jobs: White House

Directly or indirectly, $150B spent has had great effect, report says

(Newser) - The economic stimulus package has already created or saved at least 650,000 jobs, the White House said today, even though just $150 billion of the $787 billion has been spent. And the number of jobs is closer to 1 million if it includes positions added indirectly, according to the...

US GDP Jump Hollow if Unemployment Keeps Rising

ANALYSIS

Oct 29, 2009 8:07 PM CDT

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and...

Economy Grows in Q3, Signals End of Recession

Oct 29, 2009 7:55 AM CDT

Economy Grows in Q3, Signals End of Recession

Tenuous 3.5% growth is best showing in two years

(Newser) - The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. The Commerce Department's report today delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the...

US Glum on Economy
—and GOP, Too

Poll

Oct 28, 2009 11:47 AM CDT

US Glum on Economy —and GOP, Too

Republican Party lacks opposition bump usually accompanying hard times

(Newser) - Americans are bummed about the economy, but that hasn’t given Republicans the usual opposition party boost in Washington. “The mood in America may be blue, but attitudes toward Washington are just jet black,” a pollster tells the Wall Street Journal . Some 58% of respondents think the economy...