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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: economy

economy stories: 465 news summaries

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megan mcardle

Expect Unemployment
to Keep Rising

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

Nov 6, 09 11:33 AM CST
(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... More »

MORE ABOUT:
recession • unemployment • economy • recession depression • jobless • unemployment rate

 Unemployment Jumps to 10.2% 

Companies cut 190,000 jobs last month

Nov 6, 09 7:50 AM CST
(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... More »

MORE ABOUT:
recession • unemployment • Department of Labor • payrolls • economy • underemployment • unemployment rate

PETER BEINART

 Economic Fury 
 Is the New 
 Culture War 



Deficits were the rallying cry for yesterday's winners

Nov 4, 09 11:19 AM CST
(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... More »

MORE ABOUT:
recession • Republican Party • economy • conservatives • culture wars • elections • Christopher Christie • Bob McDonnell • Doug Hoffman • Election 09 • deficit spending

Economy Grows in Q3, Signals End of Recession

Tenuous 3.5% growth is best showing in two years

Oct 29, 09 7:55 AM CDT
(AP) - 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... More »

MORE ABOUT:
economic growth • economic indicators • recession • economy • financial crisis

Poll

 US Glum on Economy 
 —and GOP, Too 

Republican Party lacks opposition bump usually accompanying hard times

Oct 28, 09 11:47 AM CDT
(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... More »

MORE ABOUT:
GOP • recession • Republican Party • economy • opinion polls • Obama administration • President Obama • economic downturn • pessimism

 Iceland Too Poor 
 for McDonald's 

With currency off 80%, golden arches fall

Oct 26, 09 2:55 PM CDT
(Newser) - Soon there will be at least one country you can visit without seeing the golden arches. The financial crisis hit Iceland’s currency so hard that McDonald’s, which imports most of its ingredients, can’t afford to operate there anymore. “We would have to raise our prices by... More »

MORE ABOUT:
globalization • McDonald's • Iceland • economy • financial crisis

 Women Drive Recovery, 
 But Dissed By Retail 



Biz approach to females: take 'a male product and paint it pink'

Oct 26, 09 2:32 AM CDT
(Newser) - Women who shop til they drop are stimulating the economy more than any Ben Bernanke, but the planet's greatest spending bloc feels dissed by retailers and service providers. Women control $20 trillion in annual consumer spending in the world—a figure likely to climb to $28 trillion by 2014. Despite... More »

MORE ABOUT:
China • retail • shopping • women • consumer spending • world • spending • economy • service sector • retail businesses

 How Australia Dodged 
 the Recession

How one country ducked the economic downturn

Oct 16, 09 5:42 PM CDT
(Newser) - Australia has weathered the financial crisis better than any other developed country. Last week its central bank raised interest rates, indicating its primary concern is now inflation, not growth. What were the keys? Phil Dobbie of BNET explains:
  • Befriending China: Australia used to export much of what it made
... More »

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China • international trade • real estate • Australia • globalization • United Kingdom • United States • trade • housing • recession • global economy • banking • bilateral trade • economy • what recession? • population growth

 Unemployment Hits 9.8% 

Employers cut 263,000 jobs, more than expected

Oct 2, 09 7:51 AM CDT
(Newser) - More evidence that jobs are bringing up the rear in the economic turnaround: Employers shed 263,000 jobs in September, more than August and far more than expected, raising the unemployment rate to 9.8%. Most of the job losses came in fields such as retail, construction, and manufacturing, notes... More »

MORE ABOUT:
recession • jobless claims • economy • employees • unemployment rate

In Tough
Times, Families Reselling
Burial Plots

Cemeteries report
brisk sales of late

Sep 24, 09 1:50 PM CDT
(Newser) - People struggling with bills and other earthly concerns are unloading burial plots at a fast clip. One Florida cemetery made as many “buybacks” in the first half of this year as in all of 2008, another in Ohio reports a similar spike, and ads are plentiful on funeral property... More »

MORE ABOUT:
cremation • recession • death • economy • cemetery • economic downturn • burial plot • family plot

(AP) - The Federal Reserve today decided as expected to hold a key bank lending rate at a record low near zero and pledged to keep rates there "for an extended period." The Fed also declared that "economic activity has picked up following its severe downturn" and said it... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • economy • interest rates

(AP) - Fed chief Ben Bernanke said today that the worst recession since the 1930s is "very likely over at this point." However, "it's still going to feel like a weak economy for some time," he warned, and unemployment will almost certainly rise. He spoke today to the... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • Brookings Institution • economy

OPINION

Forget Health Reform—We Can't Afford It

The economy should
be Obama's top priority: Henninger

Sep 10, 09 8:50 AM CDT
(Newser) - Barack Obama makes health care sound like the most pressing issue in American life, but with unemployment at 10% and the country still officially in recession, Daniel Henninger wonders why he's "draining a dwindling reservoir of presidential capital." The cost of health care may be a problem for... More »

MORE ABOUT:
health care • Barack Obama • health care costs • recession • unemployment • US economy • health care reform • economy • Obama administration • Wall Street bailout • TARP

 House Dems' Health 
 Plan Half the Cost 
 of Bush Tax Cuts 


Cuts to cost $2.1 trillion over a decade; Dems' plan to cost $1 trillion

Sep 9, 09 11:17 AM CDT
(Newser) - The House Democrats’ health care plan would cost just half of what President Bush’s tax cuts cost the country, a report by left-leaning researchers says. While the analysts project Bush’s cuts will cost $2.1 trillion in lost revenue over the 10 years since they were enacted, the... More »

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tax cuts • health care reform • House Democrats • economy • George W. Bush • health plan

'European Model' Could Die: French PM

'Sluggish growth' may destroy safety net,
job security

Sep 5, 09 7:40 PM CDT
(AP) - The prime minister of France, the country perhaps most associated with the cherished "European model" of job security and social safety nets, warned today that it may prove unsustainable because the region's economies are too stagnant. "With this sluggish growth, we cannot preserve the European social model or... More »

MORE ABOUT:
Europe • France • socialism • recession • Francois Fillon • job security • economy

ANALYSIS

 America: Why So Furious? 

Terrorism, recession, economy drive nationwide rage

Aug 30, 09 4:30 PM CDT
(Newser) - With town halls gone mad and anti-Obama protesters toting guns, this is America’s angriest summer in recent memory, McClatchy reports. The fury of voters has deep roots, from a long history of hate groups to anti-Vietnam marches to rage against George W. Bush when he left office—but it’... More »

MORE ABOUT:
Barack Obama • Internet • terrorism • militia • anger • immigrant • town hall meeting • hate groups • economy • George W. Bush

 Lousy Retail Sales Will Delay Recovery

Recession isn't over
as far as consumers
are concerned

Aug 19, 09 8:38 AM CDT
(Newser) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with... More »

MORE ABOUT:
retail • recession • consumer spending • Home Depot • retail sales • Target • retail stores • economy • Saks • financial crisis • recession depression • retail sector

Analysis

Economy Is Only
Recovering on Paper


Aug 12, 09 9:03 AM CDT
(Newser) - If you’re the glass-half-full type, recent economic indicators look good: Unemployment fell last month, the savings rate is up, and productivity hit a 6-year high. But that same data proves that ordinary people aren’t likely to feel the good vibrations anytime soon, the Washington Post reports. “... More »

MORE ABOUT:
economic indicators • recession • unemployment • productivity • economy • financial crisis • recession depression

Analysis

Unemployment Will Probably Miss 10%: Silver


Aug 10, 09 11:52 AM CDT
(Newser) - Lots of economists are predicting that unemployment, which at last count hung at 9.4%, will hit 10% before the calendar changes, but Nate Silver of FiveThirtyEight.com disagrees. For that to happen, the economy would need to lose another million jobs or so, and "the jobs picture is... More »

MORE ABOUT:
unemployment • job market • shrinking workforce • labor market • economy • Nate Silver

 Reappoint Bernanke: Krugman 


Aug 10, 09 11:21 AM CDT
(Newser) - If there’s any justice, Ben Bernanke will get another go-around at the helm of the Federal Reserve, Paul Krugman tells Bloomberg. “He’s earned the right to a second term,” the Nobel laureate says. “When the banking system failed to deliver capital where it was needed,... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • Nobel Prize • Nobel Prize in Economics • Paul Krugman • economy • Joseph Stiglitz • Obama administration • President Obama

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