recession

Obama Urges Wall Street to Embrace Stricter Oversight

On the one-year anniversary of the collapse of Lehman Brothers, President Obama visited Wall Street to urge financial firms to remember the lessons of the economic crisis and to press for regulatory reforms.

Continue watching

U.S. Poverty Rising, Family Incomes Fall

The poverty rate increased in 2008 to its highest point since 1997 and median household income declined 3.6 percent as the effects of the recession set in, according to new census data released Thursday.

Realities of the Recession and the Changing Workforce

Paul Solman looks at the faces and places that illustrate the realities of the recession and Jeffrey Brown talks to experts about its impact on jobs.

Continue watching

Unemployment Rises to 9.7%, Though Hints of Recovery Remain

By Quinn Bowman

U.S. employers shed 216,000 jobs in August, increasing the unemployment rate to 9.7 percent, the highest level since 1983.

Can the Economy Truly Recover With So Many States in the Red?

Question: We keep hearing phrases such as “when the recession/depression is over,” but none of the analysis (that I’ve read or heard, anyway) addresses the relationship of the current and impending government insolvencies. Surely our economy can’t recover while…

Entrepreneurship? There’s an App for That

While the recession has battered most industries, it has sparked innovation across a range of many others. Case in point: the cell phone application market. Simon Marks reports.

Continue watching

Consumer Spending Rises Slightly, But Confidence Falls Again

As the nation looks for more signs of economic recovery, there were mixed signals on Friday as reports showed consumer spending rose slightly last month thanks in part to an increase in auto sales but incomes remained flat.

GDP Reading May Signal Stability for Economy

By Anna Shoup

The U.S. economy contracted only slightly in the second quarter with gross domestic product decreasing by an annual rate of 1 percent, another sign that the nation's economic situation could be stabilizing.

White House Projects U.S. Debt Will Nearly Double in Coming Decade

Fallout from the recession is expected to drive up the government's budget deficit by $9 trillion over the next decade, $2 trillion higher than a May estimate, according to a report issued Tuesday by the White House.

Obama Taps Bernanke for Second Term at Fed

Ending speculation that he might appoint a new central bank chief, President Obama said he would nominate Fed Chairman Ben Bernanke for a second term Tuesday as the administration continues its efforts to stabilize the embattled U.S. economy.