unemployment

Economy Tops Agenda at Obama’s First Post-Election Press Conference

During his first press conference since his Nov. 4 election victory, President-elect Barack Obama addressed updates on his plans to steer the U.S. economy, assemble his cabinet and his views on Iran's nuclear buildup, among other issues.

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U.S. Unemployment Surges to 6.5 Percent in October

By Admin, PBS News Hour

Fueled by an economic downturn, the U.S. economy lost 240,000 jobs in October, the Labor Department said Friday. The numbers helped push the employment rate to 6.5 percent, its highest level in 14 years.

Greenspan Calls Financial Crisis a ‘Credit Tsunami’

By PBS News Hour

In testimony before Congress Thursday, former Federal Reserve Chair Alan Greenspan said that the current financial crisis is a "once in a century credit tsunami" that will continue to impact the U.S. economy, spurring more job losses to come.

Foreclosure Rates for 3rd Quarter Up 70% From Last Year

By Admin, PBS News Hour

New data released Thursday show the number of homeowners caught in the foreclosure crisis grew by more than 70 percent in the third quarter compared with the same period last year.

Obama, McCain Exchange Jabs on Economic Plans

As Sens. John McCain and Barack Obama stump through battleground states, their remaining efforts to shore up votes include exchanging jabs on economic policy and readiness for the presidency. Kwame Holman reports on the latest campaign developments.

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Is it time to admit that the world is already in a recession?

Question/Comment: Over the past few weeks, we have gone to extreme measures to save economies around the world. Treasuries and central banks to date have used multiple tools to ease this crisis such as, lowering Interest rates, pumping billions of…

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.

Reports: High Unemployment, Low Manufacturing

By PBS News Hour

Stocks dropped early in trading Thursday after the government reported that the number of people seeking unemployment benefits rose to a seven-year high and that orders for manufactured goods dropped by 4 percent in August.

Wall Street Woes Ripple Through Local Economies

The collapse of financial institutions on Wall Street has sent ripples of fear through local economies across the U.S. Four business journalists from across the nation assess the regional impacts of the financial upheaval.

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Unemployment Rate Jumps to Five-Year High

By Admin, PBS News Hour

The nation's unemployment rate rose to a five-year high of 6.1 percent in August, according to a new Labor Department report, as employers continued to cut jobs in a troubled economy.