Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.
Young job-seekers face a tough time ahead looking for work as the recession deepens, with almost half of 500 firms in a survey saying they will not be taking on school-leavers or graduates this year.
Japanese factories raised output by the most in nearly 60 years last month and India grew faster than expected in the March quarter, Friday data showed, further evidence the global economy may have turned a corner.
Sales of new U.S. single-family homes rose slightly in April, while fewer workers filed for first-time jobless aid last week, raising hopes the worst of the deep economic recession was likely over.
With unemployment rising to its highest level in more than a quarter century, more Americans are confronting the double crisis of losing both their jobs and their employer-sponsored insurance, which covers 177 million people.
The number of U.S. workers filing new claims for jobless benefits dropped by 13,000 last week, the Labor Department reported on Thursday, but so-called continued claims hit a new record as the recession took a further toll on job prospects.
New orders for long-lasting U.S. manufactured goods saw their biggest gain in 16 months in April and fewer workers filed for new jobless benefits last week, according to data on Thursday that suggested the deep recession was abating.
The pace of economic decline in western Europe is slowing, data showed on Thursday, though activity is still very subdued and prospects for a global recovery are being hurt by the rising cost of borrowing money.
Sales of previously owned U.S. homes rose in April, a report showed on Wednesday, providing new evidence the housing market is stabilizing and backing views that the recession is nearing an end.
by Lisa Lambert
The U.S. recession is set to end soon, but continued job losses and plunging house prices point to an economic recovery that will be more moderate than those experienced in previous downturns, a survey showed.
In the world of corporate profits, much like the broader economy, less bad is good these days. Unfortunately, it's not good enough to stem the rise in unemployment.
This is a tough time to be graduating from college. Your student loan bills, averaging over $22,000, are likely to arrive before a job does. And once it does, that job may not come with benefits.
Contraction in world economic output appears to be slowing and a recovery could begin at the end of this year, Organization for Economic Development and Cooperation chief Angel Gurria said on Friday.
New York state lost 189,000 private sector jobs from August 2008 to April 2009, almost half of the 400,000 jobs created in the five-year economic boom that ended last year, the state labor department said on Thursday.
Federal Reserve Bank of Boston President Eric Rosengren said Thursday that “rather slow recovery is likely” for the economy.
Data on Thursday underscored that the U.S. economic recovery, when it arrives, will be a long slog, with a key factory index showing only marginally less weakness and unemployment tipped to hit double-digit levels.
The number of U.S. workers filing new claims for jobless aid fell 12,000 last week, Labor Department data showed on Thursday, while so-called continued claims rose to a fresh record as the recession battered employment.
Rodney Ringler is an unemployed blue collar male without a college degree. He's hardly alone. Men like him have been the main victims of the current recession in the United States.
The number of U.S. workers filing new claims for jobless benefits rose last week, Labor Department data showed on Thursday, largely pushed up by auto plant shutdowns related to Chrysler's bankruptcy.
The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, government data showed on Thursday, pushed up by auto plant shutdowns related to Chrysler's bankruptcy.
The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, government data showed on Thursday, pushed up by auto plant shutdowns related to Chrysler's bankruptcy.
