recession news stories on Newser

Britain Slides Back Into Recession

Rob Quinn — Wed, 25 Apr 2012 05:05:26 CDT

More bad news for Britain's beleaguered government: The country slid back into recession in the first quarter of this year, according to figures released today. The economy shrank for the second straight quarter, marking the first "double-dip" recession, in which GDP falls before output lost in the previous recession is...

Recession Was Great— for Big Business

Matt Cantor — Mon, 09 Apr 2012 09:57:14 CDT

For some of America's biggest companies, the recession amounted to growing pains: They're now "leaner, meaner, and hungrier," says one economist. Indeed, sales, profits, and employment among S&P 500 companies last year beat figures from 2007—before the crisis began, the Wall Street Journal notes in an extensive analysis. Careful...

Cash-Strapped Americans' No. 1 Priority: Car Payment

Thu, 29 Mar 2012 08:40:30 CDT

Americans really don't want to lose their rides. A study finds that the cash-strapped among us are paying off their car loans before they pay credit card bills and make mortgage payments. It used to be that Americans would pay their home loans first, then their credit card and car...

3 out of 10 Young Adults Moving Home

Dustin Lushing — Fri, 16 Mar 2012 19:17:05 CDT

As many as three out of 10 young adults are moving back in with their parents—resulting in the highest share of 18- to 34-year-olds living with multiple generations since the 1950s—after finding themselves unable to find lucrative employment in this dismal economy. They're dubbed "boomerang kids" because they...

Next Debt Bomb: Student Loans?

Mark Russell — Mon, 12 Mar 2012 08:28:05 CDT

With student loan debts soaring to $867 billion last year, student debt is a "bomb" waiting to explode, bankruptcy lawyers tell the Washington Post. The figure is bigger than the $704 billion owed by all Americans on their credit cards , and of the 37 million borrowers, 14.4% have at...

10 US Cities Bursting With Jobs

Neal Colgrass — Sat, 11 Feb 2012 17:35:33 CST

Recession—that's a big-city thing, right? Several mid-size cities around the US are making an argument for their economic superiority, boasting job growth higher than the 1.5% national average in 2011. You may not know these cities well, but the Christian Science Monitor recommends them: Columbus, Indiana : No, not...

Young Adults Put Life on Hold Over Economy

John Johnson — Thu, 09 Feb 2012 12:57:03 CST

The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center : Half say they have taken a job they didn't want. More than a third have gone back to school because of the job market. Nearly a quarter have...

If Payroll Tax Cuts Expire, Here's What Happens...

Kate Schwartz — Thu, 22 Dec 2011 09:30:00 CST

We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean" side of...

For Sale in Pontiac, Mich: Pretty Much Everything

John Johnson — Wed, 21 Dec 2011 13:03:37 CST

Pontiac, Michigan, is having a fire sale to raise desperately needed money. Up for sale is city hall, the police station, the library, cemeteries, golf courses, and on and on—just about every public asset, reports the Detroit Free Press . Pontiac has slashed its budget from $58 million to $38...