economy news stories on Newser

Forget the Rosy Stats: The Little Guy Is in Bad Shape

Wed, 18 Nov 2009 13:34:59 CST

Don’t believe the rosy official statistics; for most Americans, the economy is in incredibly bad shape, according to the economist some call “Dr. Doom.” We’re looking at a tale of two economies, Nouriel Roubini writes in the Globe and Mail . For top businesses, it’s recovering slowly—hence the 3.5%...

It's About the Jobs, Stupid

Fri, 13 Nov 2009 8:20:10 CST

The US has to shake up conventional thinking and create jobs for out-of-work Americans, writes Paul Krugman . Our current misguided thinking—as evidenced by unemployment north of 10%—isn't so much a jobs policy as GDP policy. "If you grow it, they will come," goes the philosophy. Get the economy...

Expect Unemployment to Keep Rising

Fri, 06 Nov 2009 11:33:25 CST

Anyone hoping that today's worse-than-expected news of 10.2% unemployment means we've hit rock bottom is going to be disappointed, writes Megan McArdle . "This figure is likely to get worse before it gets better." Companies need more proof of a long-term recovery before committing to new hires. In the meantime,...

Unemployment Jumps to 10.2%

Fri, 06 Nov 2009 7:50:00 CST

Unemployment cracked the 10% barrier last month, as 190,000 workers lost their jobs, according to Labor Department figures released today. The bigger-than-expected losses bring the rate to 10.2%, a 26-year high. And the underemployment rate, which includes would-be full-timers working part time and those who've given up looking...

Economic Fury Is the New Culture War

Wed, 04 Nov 2009 11:19:56 CST

"Conservatives have supposedly gotten their groove back," Peter Beinart writes about the results of yesterday's state races, "but it's not the same old groove." The candidates who won—or almost won—downplayed social issues and focused on the economy, which Beinart calls the “new culture war." Sure, a “jihad against...

Economy Grows in Q3, Signals End of Recession

Thu, 29 Oct 2009 7:55:07 CDT

The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. The Commerce Department's report today delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the...

US Glum on Economy — and GOP, Too

Wed, 28 Oct 2009 11:47:59 CDT

Americans are bummed about the economy, but that hasn’t given Republicans the usual opposition party boost in Washington . “The mood in America may be blue, but attitudes toward Washington are just jet black,” a pollster tells the Wall Street Journal . Some 58% of respondents think the...

Iceland Too Poor for McDonald's

Mon, 26 Oct 2009 14:55:38 CDT

Soon there will be at least one country you can visit without seeing the golden arches. The financial crisis hit Iceland’s currency so hard that McDonald’s, which imports most of its ingredients, can’t afford to operate there anymore. “We would have to raise our prices by 20%,” the head of...

Women Drive Recovery, But Dissed By Retail

Mon, 26 Oct 2009 2:32:30 CDT

Women who shop til they drop are stimulating the economy more than any Ben Bernanke, but the planet's greatest spending bloc feels dissed by retailers and service providers. Women control $20 trillion in annual consumer spending in the world—a figure likely to climb to $28 trillion by 2014. Despite...