economy

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US Companies Hiring the Most Employees in 2011

Home Depot and McDonald's lead the way

(Newser) - Most recessions end as small companies regain the capital needed to hire small numbers of workers at a time. That will most likely not happen this time around, however, because smaller companies have little capital and banks are hesitant to give out loans, reports 24/7 Wall Street . So which large ...

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax...

Home Sales Fell 9.6% in February

Media sales price hits lowest level in almost 9 years

(Newser) - Fewer Americans bought previously occupied homes last month, and those who did purchased them at steep discounts. The weak sales and rise in foreclosures pushed home prices down to their lowest level in nearly 9 years. Sales of previously occupied homes fell to a seasonally adjusted annual rate of 4....

Site Takes On World Champs of Pessimism: the French

Professor's evidence counters doomsayers

(Newser) - Can the Internet cure pessimism? A French professor hopes so, and is launching a site designed to battle the blues in France. It's aimed at "les declinologists," who fear that French culture and society are in their death throes. A poll early this year found the French to...

One-Third of US Wages? Government Handouts

Social welfare benefits make up 35% of wages and salaries

(Newser) - More than a third of the total wages and salaries in the US is made up of government payouts, CNBC reports. Social welfare benefits including Social Security, Medicare, and unemployment insurance account for 35% of wages and salaries—a record figure that is up from 21% in 2000 and 10%...

Mitt Romney: Today's Job Fairs Are Like the Hoovervilles of the Great Depression
 
 Obama Has  
 His Very Own 
 'Hoovervilles'
mitt romney
Mar 8, 2011 12:27 PM CST

Obama Has His Very Own 'Hoovervilles'

Mitt Romney: Today's job fairs call to mind Depression-era misery

(Newser) - Mitt Romney welcomes Obama to Boston today with an op-ed in the Herald that blames the president's economic policies for bringing back scenes reminiscent of the Great Depression. Romney rehashes what he's been calling the Obama Misery Index : Unlike Jimmy Carter's misery index of the '70s, which combined unemployment and...

Unemployment Dips to 8.9%, Nearly a Two-Year Low
 Unemployment Dips to 8.9% 
Mar 4, 2011 7:58 AM CST

Unemployment Dips to 8.9%

That's nearly a two-year low

(Newser) - More good news in February : The unemployment rate dipped to 8.9%—a nearly two-year low—as employers hired at the fastest pace in nearly a year. The economy tacked on 192,000 jobs last month, with factories, professional and business services, education, and health care among those expanding employment....

Your Future Bill for the National Debt: $2,500 a Year

... actually, that'll just cover the interest

(Newser) - The next decade will see interest payments on the national debt quadruple, forcing every American to essentially pay more than $2,500 yearly, the Washington Post finds in a look at President Obama’s budget plan. That means that starting in 2014, net interest payments will exceed spending on all...

China Economy Zooms by Japan to No. 2 Spot

Nation's now gearing up to take on No. 1 US

(Newser) - China has steamed past Japan to become the world's second-largest economy. Japan's economy, hit by a drop in exports and consumer demand, was worth $5.5 trillion at the end of last year, while China's was estimated at $5.8 trillion. China is expected to take over the US as...

Economy Grew at 3.2% Rate in Q4

Consumer spending grew at fastest pace in 5 years

(Newser) - Spurred by consumer spending and a shrinking trade deficit, the economy grew at a 3.2% annual rate in the fourth quarter. That beats the previous quarter's 2.6% but falls short of analysts' expectations of 3.5%. Still, "a number above 3% should drive a stake through the...

Obama's SOTU: Go Centrist, or Go Home
 Obama's SOTU: 
 Go Centrist, or Go Home 
fareed zakaria
Jan 24, 2011 1:49 PM CST

Obama's SOTU: Go Centrist, or Go Home

Both sides are right in economy debate, says Fareed Zakaria

(Newser) - President Obama’s recent move the center has been a political boon, but in his State of the Union address he needs to redefine that center, laying out "a genuinely bipartisan pro-growth strategy ... that is not just good politics but good policy," writes Fareed Zakaria for the Washington ...

Beware Republicans' New Voodoo Economics
Beware Republicans'
New Voodoo Economics
paul krugman
Dec 31, 2010 11:14 AM CST

Beware Republicans' New Voodoo Economics

Paul Krugman: How do big tax cuts square with concern over the deficit?

(Newser) - Paul Krugman warns against what he sees as a new version of "voodoo economics" that Republicans plan to codify in the House: "The belief that deficits created by tax cuts just don't matter." Jon Kyl and crew think that any tax cut is a good tax cut,...

Economy Grew Modestly in 3rd Quarter

2.6% rate beats predictions; economics optimistic for year's end

(Newser) - The US economy grew at a moderate pace last summer, reflecting stronger spending by businesses to replenish stockpiles. More recent barometers suggest the economy is gaining momentum in the final months of the year. Gross domestic product increased at a 2.6% annual rate in the July-September quarter, the Commerce...

Fox News Viewers 'Most Misinformed,' Study Finds

Network's fans most likely to believe certain falsehoods

(Newser) - University of Maryland researchers have deemed Fox News viewers the "most misinformed," Mediaite reports. The researchers, who asked a number of questions about hot-button issues in the 2010 election, found Fox News viewers—regardless of political affiliation—were more likely than viewers of other networks to believe, for...

Chance of Double-Dip Recession in 2011 Falls to 15%
Chance of Double-Dip Recession in 2011 Falls to 15%
economists predict
Dec 13, 2010 8:25 AM CST

Chance of Double-Dip Recession in 2011 Falls to 15%

GDP will grow 3%, they estimate

(Newser) - The Bush tax cut deal has some economists walking on sunshine. Experts are getting more upbeat in their forecasts for next year, predicting accelerating growth, finds the Wall Street Journal in its latest forecasting survey. The 55 experts who weighed in expect GDP to grow in “nearly every period,...

Bernanke Ready to Spend More to Prop Up Economy

Don't worry about inflation, he adds

(Newser) - Federal Reserve Chairman Ben Bernanke is such a fan of the decision to buy $600 billion in Treasury securities to prop up the economy that the Fed is prepared to spend even more. Added economic stimulus might still be needed because the current recovery is weak, Bernanke warned in an...

Tax Cut Showdown: Dems' Two Options

Must win centrists as Bush cuts expire

(Newser) - When it comes to tax cuts, the Democrats’ options are few. Politically speaking, it’s too late to force the expiration of Bush cuts on those earning more than $250,000. But Dems have two notable choices, writes David Leonhardt in the New York Times : one, to let the Bush...

As Crises Spread, Europe Scrambles for an Answer
As Crises Spread, Europe Scrambles for an Answer
analysis
Dec 1, 2010 10:04 AM CST

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

(Newser) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor...

Portugal Screeches to Halt as Unions Strike

Trains, planes, banks shut down in unions' joint effort

(Newser) - The largest Portuguese unions banded together and went on joint general strike today, the first of its kind since 1988, the New York Times reports. The unions, protesting a government austerity plan amid a debt crisis, halted trains, buses, planes, health care, and banking services. “What’s coming for...

'Guidelines,' No Specifics, at G20

Obama slams China over currency manipulation

(Newser) - G20 leaders have agreed to curb “persistently large imbalances” in saving and spending and set “indicative guidelines” against trade imbalances, but more specific decisions on how to identify and fix said imbalances were left until next year, reports the New York Times . The finance minsters are to agree...

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