Mar 06 Watch Unemployment Rate Climbs to 8.1% in New Sign of Deepening Recession The Labor Department reported Friday that the U.S. unemployment rate hit 8.1 percent, its highest rate in 25 years. Ray Suarez reports on the latest employment numbers, reaction from the White House and the impact on Wall Street. Continue watching
Jan 29 Stimulus Package Goes to Senate as Signs of Economic Downturn Continue By Admin, PBS News Hour The Democratic-controlled House of Representatives passed President Barack Obama's $819 billion economic stimulus package by a vote of 244-188 Wednesday, amid continuing signs of the U.S. economic downturn. Continue reading
Jan 22 Microsoft Cuts 5,000 Jobs As New Unemployment Claims Rise By Admin, PBS News Hour In another sign of how bad the economy is getting for even the biggest companies, Microsoft Corp. announced Thursday that it is cutting 5,000 jobs over the next 18 months. Continue reading
Jan 09 Unemployment Rate Hits Highest Point in 16 Years By Admin, PBS News Hour A day after President-elect Barack Obama warned that the recession could "linger for years" unless Congress pumps money into the economy, a government report released Friday underscored the toll the downturn is having on workers and companies. Continue reading
Dec 24 Consumer Spending, Durables Goods Orders Drop as Jobless Claims Rise By PBS News Hour The Commerce Department reported Wednesday that consumer spending fell for a fifth straight month in November, and Americans' incomes dropped as well, partially reflecting massive job layoffs. Continue reading
Dec 11 U.S. Unemployment Claims Hit 26-Year High By Admin, PBS News Hour More than 570,000 people filed initial applications for jobless benefits during the first week of December, the highest one-week filing rate in 26-years, the Labor Department said Thursday. Continue reading
Dec 05 U.S. Employers Slash 533,000 Jobs; Unemployment Rate Jumps to 6.7% By Admin, PBS News Hour U.S. employers cut 533,000 jobs in November, the most in 34 years, sending unemployment up two-tenths of a point from October to 6.7 percent, the highest in 15 years, the Labor Department reported Friday. Continue reading
Nov 20 U.S., World Stocks Tumble Amid Bleak Jobs Report By PBS News Hour U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy's woes and as new data showed the number of new claims for jobless benefits was at its… Continue reading
Oct 15 U.S. Markets Plummet, Global Indicators Slide Amid Recession Fears By PBS News Hour After a two-day rally, U.S. stock prices plunged Wednesday as investors worldwide expressed concerns the global efforts to inject liquidity and restore confidence to the battered financial system may not be enough to stave off a widespread recession. Continue reading
Oct 03 Employers Slash 159,000 Jobs in September By Admin, PBS News Hour Employers cut payrolls by 159,000 in September, the most in more than five years, the Labor Department reported Friday, raising new fears that the economy has lost its footing and is sliding into a recession. Continue reading