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NEWS ABOUT: economic recovery

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Young Adults Put Life on Hold Over Economy

But most remain upbeat about their future: Pew survey

(Newser) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :
  • Half say they have taken a job they didn't want.
  • More than a third have gone back to school because of the job market.
  • Nearly a quarter
... More »

Which Path for Obama— Reagan or Bush the Elder?

Economy could propel him to re-election, or doom him

(Newser) - The better-than-expected jobs report yesterday lifts President Obama's chances of re-election, but the Wall Street Journal points out that he's going to need more good news if history is any guide. It could go one of two ways, a la Ronald Reagan or George HW Bush. At the... More »

Bernanke: Full Recovery Years Away

Fed says inflation on target, but unemployment high, growth sluggish

(Newser) - Don't get too excited about that pending economic rebound . The Federal Reserve's announcement it will keep interest rates super-low into 2014 is a key sign that the US economy is years away from truly recovering, reports the New York Times . Yes, the economy has picked up "moderately,... More »

Finally, Sun Through the Economic Clouds

Thanks to improving housing market, private debt: Paul Krugman

(Newser) - The economy has had its share of false starts over the past few years, but this time things could really be improving, opines Paul Krugman. "There’s evidence that the two great problems at the root of our slump—the housing bust and excessive private debt—are finally easing,... More »

For Laid Off, Few Signs of Recovery

Construction, manufacturing particularly hit hard

(Newser) - Only 7% of people who lost their jobs since the financial crisis of 2008 have returned to jobs as good as or better than the ones they used to have, reports the New York Times . Most people who have found new work say it is less lucrative, and 15% say... More »

Dear Financial 'Experts,' Check Out Iceland

It avoided harsh austerity measures and is doing better: Paul Krugman

(Newser) - Markets are thrilled that Europe finally cut a deal, "however vague the details and however inadequate it may prove," writes Paul Krugman in the New York Times . The deal is better than nothing, he writes, but it once again highlights the misguided doctrine he says is doing great... More »

Obama's Jobs Bill Goes to Congress Tonight

But it's missing one crucial element, 'Los Angeles Times' notes

(Newser) - "Pass this bill," President Obama said more than two dozen times during his two speeches last week touting his jobs bill —and he’ll say it again tonight when he officially sends the American Jobs Act to Congress. “He will call on Congress to pass the... More »

Even 'Stimulus Skeptics' Should Back Obama's Plan

It's a reasonable effort to guard against a double-dip: David Brooks

(Newser) - David Brooks counts himself among the "stimulus skeptics," but he's signing on to President Obama's plan to juice the economy. The president's proposals come from "the middle of the ideological spectrum," and collectively they help guard against the "truly horrifying" prospect of... More »

Obama Pushes $450B Jobs Plan

He wants to extend the payroll tax cut, spend on infrastructure projects

(Newser) - President Obama made his pitch to Congress this evening for what he's calling the American Jobs Act, a wide-ranging proposal whose centerpiece is an expansion of the payroll tax break (he figures it's worth $1,500 a year to the average family), along with more spending on school... More »

Odds of a Double-Dip? Probably 50-50 Now

This kind of stalled job growth often leads to recession: David Leonhardt

(Newser) - Bleak reading for the White House ahead of the president's jobs speech : David Leonhardt of the New York Times thinks the odds of a double-dip recession have spiked of late and might be around 50-50 now. The US had been putt-putting along in what looked to be a modest... More »

What Obama Must Say in His Jobs Speech

He has to offer specific solutions, not platitudes: John Nichols

(Newser) - President Obama gives his jobs speech next week, and John Nichols of the Nation has some words of advice: Don't blow it. This speech cannot be political boilerplate, for the sake of Obama's presidency and the economy. Nichols offers some suggestions:
  • Be specific: Skip vague generalities. He must
... More »

Dow Surges Back Again: Up 423

S&P 500 and Nasdaq join the rebound

(Newser) - Dizzy yet? The stock market rebounded strongly yet again, with analysts giving credit to decent jobs data, better-than expected results from tech bellwether Cisco, and decreased worries about Europe. The numbers:
  • Dow: Up 423 (3.9%) to 11,143
  • S&P 500: Up 52 points (4.6%) to 1,173
... More »

Dow Plunges 520

Nasdaq and S&P 500 plummet, too

(Newser) - Yesterday's big market gains vanished and then some today as investors worried about Europe's debt problems and the weak US recovery, reports MarketWatch .
  • Dow: Down 520 points, or 4.6%, to 10,719
  • S&P 500: Down 52 points, or 4.4%, to 1,121
  • Nasdaq: Down 101
... More »

Dow Bounces Back, Soars 430

Nasdaq, S&P also post huge gains

(AP) - Another crazy day for the markets, but this time they ended way up in positive territory. The Dow rose 430 points to close at 11,239, up nearly 4%. The Nasdaq rose 125 to 2,483 (5.29%) and the S&P 500 jumped 53 to 1,173 (4.74%).... More »

Obama Sticks to Theme: Jobs, Jobs, Jobs

President says jobs report hopeful, but not good enough

(Newser) - President Obama stayed on the jobs message today: He said he's happy that the unemployment rate ticked downward , but that it's nowhere near good enough. The country needs to create far more jobs per month to make up for the 8 million lost during the recession, and he... More »

How to Be Happy About Today's Stock Sell-Off

For one thing, your 401k contribution goes further: Felix Salmon

(Newser) - Let's see: Europe's stocks tanked, US stocks tanked , Asian stocks will no doubt tank, tomorrow's jobless report is likely to be awful, and "it’s hard to see where confidence and optimism are going to come from in the coming months," writes financial blogger Felix... More »

Sinking Confidence Behind Market Collapse

Investors starting to panic that nobody has answers

(Newser) - What's behind the market meltdown? Some on-the-fly observations:
  • Ezra Klein, Washington Post : The market is "diving because of forces Washington can’t control, and in many cases, doesn’t understand very well. How many members of Congress do you think could give a coherent account of what has
... More »

Crash May Have Been Worse Than Thought

Nate Silver sees bad things in long-term GDP graph

(Newser) - Need a pick-me-up given today's depressing stock news ? Then be advised that Nate Silver's column in the New York Times is not for you. The stats guru plots GDP going back to 1877 and sees signs that our recent "economic crash was even worse than economists... More »

We Might Be Doomed, Debt Deal or Not

Paul Krugman: Focus on 'deficit panic' could be disastrous

(Newser) - So Greece has a bailout deal , and the US is maybe closing in on its own agreement to avoid a default. Cause for celebration? More like depression, writes Paul Krugman. Or, as he puts it in the New York Times , a "Lesser Depression." Policy-makers might "manage to... More »

Obama on Jobs: 'We've Still Got a Long Way to Go'

President urges Congress to act on several initiatives to juice economy

(Newser) - President Obama didn't try to put a pretty face on today's bleak unemployment figures : The numbers confirm "what most Americans already know," he said: "We still have a long way to go and a lot of work to do." He urged Congress to pass... More »

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