recession – News Stories About recession - Page 6

Fed Sees High
Unemployment
All Next Year

Nov 2, 2011 4:35 PM CDT

Fed Sees High Unemployment All Next Year

Forecast sees it at 8.6% at end of 2012

(Newser) - If President Obama were hoping for a quick election-year turnaround in the jobless rate, the Federal Reserve burst his bubble today. The Fed projected unemployment will be at 8.6% at the end of 2012, not much better than the 9.1% registered in September of this year, reports the...

Dear Financial 'Experts,' Check Out Iceland

paul krugman

Oct 28, 2011 12:16 PM CDT

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...

Recession Sex Studies:
Why They're All Bunk

Oct 23, 2011 3:32 PM CDT

Recession Sex Studies: Why They're All Bunk

'Are people getting it on more or less frequently?'

(Newser) - The recession makes men cheat. And boosts the sales of sex toys . And inspires couples to reconnect in bed. And lowers men's libidos ... and women's. Wait, is anyone following this? In Salon , Tracy Clark-Flory traces the eye-rolling flow of studies and "expert insights" into how the recession...

Paycheck Data Dismal in 2010

OPINION

Oct 20, 2011 2:26 PM CDT

Paycheck Data Dismal in 2010

...Unless you were a millionaire

(Newser) - The Social Security Administration quietly released payroll data for 2010 yesterday, and they were “in a word, awful,” writes David Cay Johnston at Reuters —assuming you’re not a millionaire, that is. The number of people making at least $1 million rose by 20%, jumping from 78,...

Drive a $15K Car in Michigan? No Food Stamps for You

Got a $15K Car in Michigan?
No Food Stamps for You

Oct 20, 2011 8:52 AM CDT

Got a $15K Car in Michigan? No Food Stamps for You

State's decision to check assets bucks national trend

(Newser) - If you’re not making much money but are driving a nice car, don’t expect any help buying groceries in Michigan. The state this month began checking the assets of would-be food stamp recipients, USA Today reports; anyone with more than $5,000 in liquid assets or a car...

DC Overtakes Silicon Valley
in Household Income

Oct 19, 2011 6:59 PM CDT

DC Overtakes Silicon Valley in Household Income

Typical home pulls in about $84,000

(Newser) - Our nation's capital city boasts the highest average income in the country, reports Bloomberg . New census statistics show that a household in the DC metro area typically earns $84,523, compared to the national median of $50,045. The booming salaries are explained by a dense concentration of lobbyists,...

US Incomes Fell More After Recession Than During It

Oct 10, 2011 4:35 AM CDT

US Incomes Fell More After Recession Than During It

Median household income down 6.7% between June 2009, June 2011

(Newser) - US incomes continued to fall after the 2007 recession was declared over—at an even steeper rate than during the recession, according to a recent analysis. Inflation-adjusted median household income fell 6.7% between June 2009 and June 2011. During the two-year recession, incomes fell 3.2%. The full four-year...

As Bad as the
Depression? If Only

David Leonhardt

Oct 9, 2011 1:44 PM CDT

As Bad as the Depression? If Only

At least new industries arose in the 1930s: Leonhardt

(Newser) - There's never a Great Depression around when you need one, apparently. Despite its misery, "the United States economy was quietly making enormous strides during the 1930s," argues David Leonhardt in the New York Times . Americans were getting a better education—high school, back then—while industrious entrepreneurs...

Drunk Driving
Down Due to...
the Economy?

survey says

Oct 5, 2011 11:18 AM CDT

Drunk Driving Down Due to... the Economy?

More people may be drinking at home: CDC

(Newser) - The good news: According to self-reported data, Americans are driving drunk less often. The bad news: It may not be because we're more responsible, but because ... we're broke. The CDC data shows that self-reported drunk driving among adults was down 30% from 161 million instances in 2006 to...

Americans to Spend Nearly $7B on Halloween Stuff

survey says

Sep 30, 2011 7:35 AM CDT

Americans to Spend Nearly $7B on Halloween Stuff

That's more than double 2005's amount

(Newser) - Apparently, Halloween is more than just a holiday—it’s an economic stimulus package. Americans plan to spend a whopping $6.9 billion on costumes, decorations, and entertainment related to October 31, according to the National Retail Federation—and that’s more than double 2005’s number from the same...

In Amazon's Warehouse, Shades of Grapes of Wrath

Ezra Klein

Sep 29, 2011 1:00 PM CDT

In Amazon's Warehouse, Shades of Grapes of Wrath

LeHigh warehouse like something out of Grapes of Wrath , Ezra Klein observes

(Newser) - In the Grapes of Wrath, the Joad family gets a hard lesson in economics, when they follow a handbill for jobs to California—only to find there are no jobs. Why, he asks, did they put out the handbills? A fellow homeless man replies that if you’ve but one...

Housing Market Will Stink Through 2015

new report

Sep 21, 2011 11:07 AM CDT

Housing Market Will Stink Through 2015

Economists, builders, mortgage analysts fear 'lost decade'

(Newser) - Even more bad economic news from a report released today: Housing prices will remain depressed for years, dropping by an expected 2.5% this year and rising only 1.1% each year through 2015, according to the survey of more than 100 economists. Since the 2005 peak, housing prices have...

Child Abuse Rose
With Recession

study says

Sep 19, 2011 8:17 AM CDT

Child Abuse Rose With Recession

Study provides first hard data showing a link

(Newser) - A disturbing trend: Child abuse rises in recession, a new study from Kentucky, Ohio, Pennsylvania, and Washington shows. From 2004 to 2007, 8.9 out of 100,000 children under five ended up in the hospital each year with severe brain injuries. From the December 2007 crash to 2009, that...

Odds of Second
Recession Grow:
Economists

WSJ Poll

Sep 16, 2011 7:52 AM CDT

Odds of Second Recession Grow: Economists

And Fed can't do much to stop it, say experts

(Newser) - Economists are citing a one-in-three chance of a new recession—the highest likelihood given in the Wall Street Journal ’s regular survey since the recovery began. The figure is 4 percentage points higher than last month’s as joblessness, a troubled stock market, and fears for Europe continue. “...

Barry's Baaaaaack,
But Are We Satisfied?

Maureen Dowd

Sep 11, 2011 2:45 PM CDT

Barry's Baaaaaack, But Are We Satisfied?

Obama gets feisty again, but he had to be 'cajoled': Dowd

(Newser) - Fiiiiinally... the fiery President Obama of old came roaring back with a killer jobs speech this week. "What a relief," sighs Maureen Dowd in the New York Times . "The president was strong and House Republicans were conciliatory." But it's not that simple, she says, because...

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

analysis

Sep 8, 2011 1:24 PM CDT

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...

Meet 'Generation Limbo'

Sep 1, 2011 11:25 AM CDT

Meet 'Generation Limbo'

Increasingly, 20somethings wait for their 'real' career

(Newser) - Stephanie Kelly graduated in 2009 with a degree in advertising; instead she works as a part-time secretary and writes freelance for an online “Secret Santa Organizer.” Amy Klein has a degree in English lit from Harvard, but the 2007 grad has been touring the country in a minivan...

CBO: 'Profound'
Challenges Ahead

Aug 24, 2011 10:46 AM CDT

CBO: 'Profound' Challenges Ahead

Deficit should fall, but employment, growth remain low

(Newser) - The picture for 2011 is a glum one—a $1.3 trillion deficit, 9.1% unemployment rate—and it's not going to get much brighter in the next few years, according to a report by the Congressional Budget Office. In it, notes Politico , the CBO warns of "profound...

Next 12 Months: No Recession, but Slow Growth

economists say

Aug 23, 2011 2:55 PM CDT

Next 12 Months: No Recession, but Slow Growth

Risk of recession at 26%; unemployment likely 9% at year's end

(Newser) - Despite a bombardment of bad news in recent weeks, economists don’t expect another recession over the next 12 months—but economic growth will barely be perceptible in that period, an AP poll of top economists finds. They expect high unemployment and weak consumer spending to dog the US into...

MGM Wants to Blow Up
Never-Opened Vegas Hotel

MGM Wants to Blow Up Never-Opened Vegas Hotel

Casino company abandoning costly project

(Newser) - Hotel implosions aren’t exactly unheard of in Las Vegas, but it’s not every day the condemned is a brand-new, never-opened luxury tower. MGM on Monday submitted a request to the county office to implode Harmon Tower, a luxury hotel that was supposed to be the crown jewel in...