Stocks posted a modest gain after the Labor Department said the unemployment rate topped 10 percent in October for the first time since 1983, but also that the pace of job losses slowed.
Posted: Fri, 6 Nov 2009 22:45:30 GMT
The economy is still shedding jobs, but at a much slower pace than earlier this year, the government reported. That bolsters the view that the economy is making a slow but steady recovery.
Posted: Fri, 6 Nov 2009 17:23:41 GMT
The unemployment rate has hit double digits for the first time since 1983 — and is likely to go higher.
Posted: Fri, 6 Nov 2009 20:06:01 GMT
The last time unemployment climbed past 10 percent, "The A-Team" was one of the top 10 TV shows and Michael Jackson was about to release "Thriller."
Posted: Fri, 6 Nov 2009 20:59:55 GMT
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to homebuyers and additional jobless benefits to those idled by the business slump.
Posted: Fri, 6 Nov 2009 19:06:59 GMT
Warren Buffett's company said that its third-quarter profit tripled as the improving economy and stock market boosted the value of Berkshire Hathaway's derivative contracts.
Posted: Fri, 6 Nov 2009 23:37:39 GMT
American consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions.
Posted: Fri, 6 Nov 2009 20:40:22 GMT
Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.
Posted: Fri, 6 Nov 2009 20:15:44 GMT
The number of newly laid-off workers filing claims for unemployment benefits falls to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Posted: Thu, 5 Nov 2009 15:22:04 GMT
Productivity surged in the third quarter at the fastest pace in six years while labor costs continued to drop sharply.
Posted: Thu, 5 Nov 2009 15:45:22 GMT
For millions of out-of-work job seekers, unemployment insurance is providing an increasingly tenuous financial lifeline.
Posted: Thu, 5 Nov 2009 22:25:31 GMT
Consumers, enticed by cooler weather, early holiday discounts and an improving economy, spent a little more in October.
Posted: Thu, 5 Nov 2009 16:51:26 GMT
The Federal Reserve pledged to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.
Posted: Wed, 4 Nov 2009 22:17:29 GMT
A Georgia nonprofit's inflated job count is among persisting errors in the government's latest effort to measure the effect of the $787 billion stimulus plan.
Posted: Wed, 4 Nov 2009 16:40:51 GMT
The U.S. service sector grew for a second straight month in October, but at a slower pace than in September, as a broad economic recovery creeps along.
Posted: Wed, 4 Nov 2009 16:15:04 GMT
The Treasury Department now expects to hit the government's debt limit in December, two months later than its initial estimate.
Posted: Wed, 4 Nov 2009 16:00:39 GMT
Cisco Systems says its quarterly income dropped 19 percent but that recession-dampened orders are improving.
Posted: Wed, 4 Nov 2009 23:56:12 GMT
The U.K. moved to break up parts of bailed out financial institutions, highlighting a divide across the Atlantic over how to deal with the banks that were partially nationalized.
Posted: Tue, 3 Nov 2009 11:44:33 GMT
Global wages fell in the United States and some other wealthy nations in the second quarter of the year, raising questions about whether workers are sharing in any economic recovery.
Posted: Tue, 3 Nov 2009 14:07:29 GMT
Orders to U.S. factories rebounded in September, helped by strength in autos, heavy machinery and military aircraft.
Posted: Tue, 3 Nov 2009 16:26:59 GMT
Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.
Posted: Mon, 2 Nov 2009 21:00:35 GMT
Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.
Posted: Mon, 2 Nov 2009 15:24:01 GMT
President Barack Obama said Monday the public and private sectors must find more ways to create jobs to continue the nation's climb out of an economic recession.
Posted: Mon, 2 Nov 2009 17:45:36 GMT
Posted: Fri, 31 Jul 2009 15:48:32 GMT
After a forceful reminder that the third quarter is history, stock investors are now uneasy about the final months of the year.
Posted: Sun, 1 Nov 2009 18:57:13 GMT
The latest data shows the economy growing again. So how come it doesn't feel like the recession is over? On possible explanation: It isn't over. The Answer Desk.
Posted: Mon, 2 Nov 2009 19:10:43 GMT
Of the 640,239 jobs created or saved by the stimulus, 325,000, or more than half, were jobs in education, according to preliminary data released Friday.
Posted: Fri, 30 Oct 2009 21:20:05 GMT
Consumer spending plunged in September by the largest amount in nine months, reflecting the end of the government's Cash for Clunkers auto sales program.
Posted: Fri, 30 Oct 2009 23:25:46 GMT
Nearly 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the government said Friday.
Posted: Fri, 30 Oct 2009 23:36:29 GMT
The idea that the government of a major advanced country would default on its debt—that is, tell lenders that it won't repay them all they're owed—was, until recently, a preposterous proposition. Well, it's still a very, very long shot, but it's no longer entirely unimaginable.
Posted: Fri, 30 Oct 2009 00:03:10 GMT
U.S. consumer sentiment slipped this month as Americans focused on paying down debts, though confidence in a national recovery remained high, a survey showed on Friday.
Posted: Fri, 30 Oct 2009 14:50:26 GMT
The U.S. economy grew in the third quarter for the first time in a year as consumer spending and investment in new home-building rebounded.
Posted: Thu, 29 Oct 2009 18:38:26 GMT
Despite government data showing the economy growing again, hundreds of msnbc.com readers wrote to say they don’t see the recession ending where they live. The Answer Desk.
Posted: Thu, 29 Oct 2009 18:17:18 GMT
The number of people claiming jobless benefits for the first time dropped slightly last week, evidence that the labor market remains weak even as the economy is recovering.
Posted: Thu, 29 Oct 2009 15:59:12 GMT
Treasury Secretary Timothy Geithner said Thursday that giving the government the power to dismantle mammoth financial firms like Lehman Brothers will prevent future bailouts.
Posted: Thu, 29 Oct 2009 16:27:35 GMT
The unemployment rate fell in September in most metro areas, although that's largely because more people gave up on job searches than found new work.
Posted: Wed, 28 Oct 2009 19:46:14 GMT
The White House promised that new figures showing progress in President Obama's recovery plan will be more accurate as it defended an earlier faulty count that overstated the jobs created so far.
Posted: Thu, 29 Oct 2009 21:06:56 GMT
Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.
Posted: Wed, 28 Oct 2009 16:21:59 GMT