UNEMPLOYMENT

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U.S. jobless rate projected to fall sharply

Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances.
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Economists see Q4 jobless rate at 8.1 percent

Economists see the unemployment rate falling much faster than previously expected this year, even though they slightly lowered their outlook for economic growth, a survey released on Friday showed.
French President Nicolas Sarkozy

French Elections: Sarkozy’s Last Stand?

French President Nicolas Sarkozy is up for re-election this year. He faces stiff competition from both the Socialist Party and the extreme right National Front. With France's economy in shambles, Sarkozy's re-election prospects look slimmer every day.
Nigeria oil subsidy fraud

Nigeria: Oil, Poverty, and an 'Ungodly Mess'

Thanks to expansive oil fields and a reservoir of millions of barrels of crude, Nigeria is the third-richest country in Africa. But due to corruption, poor wealth distribution, and lack of infrastructure, the nation's people suffer from staggering rates of poverty.
Olli Rehn, Evangelos Venizelos

Greece-EU Deadlock Continues; Eurozone Finance Ministers Warn Athens

Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but eurozone finance ministers demanded more measures and a parliamentary seal of approval. Finance ministers of the 17-nation eurozone meeting in Brussels warned there would be no immediate approval for the rescue package.
John Boehner

Republicans Push for Action on Payroll Tax

Republicans expressed frustration Thursday at the slow pace of negotiations over extending a tax break for workers that expires at the end of the month, accusing President Barack Obama and Senate Democrats of blocking agreement.
Athens demonstrators

Greece Bailout Plan Details Disdained In Brussels, at Home

Hours after Greece's ruling coalition announced it had concluded an 11th-hour agreement on new austerity measures in an effort to satisfy foreign lenders, it seemed that everyone - from creditors abroad to political allies back home - was turning on the Greek leadership.
Greece

Greeks Clinch Austerity Deal, but Lenders Skeptical

Greek political leaders clinched a long-stalled deal on Thursday on harsh austerity measures and reforms required to secure a second international bailout in two years but the country's financial backers reacted skeptically.
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Cuts drive Greek unemployment to record high

Greece's jobless rate rose to a fresh record of 20.9 percent in November, highlighting the pain imposed by austerity on ordinary Greeks as the country negotiates a new pain-for-gain package with its EU and IMF lenders.
Greek and EU flag

Greece Finally Strikes Bailout Deal; European Stocks Strengthened

Greek leaders clinched a long-stalled deal on reforms and austerity measures needed to secure a bailout and avoid a messy default, government sources said, hours before the country's financial backers were to meet in Brussels on Thursday. The euro and European stocks strengthened on news of the breakthrough.
Jobless Claims

Jobless Claims Fall 15,000 to 358,000

New claims for unemployment benefits unexpectedly fell last week, a government report showed on Thursday, providing further evidence the U.S. labor market was gaining traction.

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