Economic Crisis in US

Jobless Decline Masks Drop in U.S. Labor Force

Kenneth — Wed, 08 Feb 2012 18:17:53 +0000

The unemployment rate’s unexpected drop to a three-year low has overshadowed a less-positive labor- market development: fewer Americans are looking for work. Last week’s Labor Department announcement that the jobless rate fell to 8.3 percent in January sent stocks and bond yields higher. The same report showed the share of working-age people in the labor [...]

Fed should raise rates in 2013

Kenneth — Mon, 06 Feb 2012 19:11:44 +0000

The Federal Reserve should start raising interest rates next year, a top Fed official said on Monday, arguing that even if rates stay near zero for many years, U.S. economic output will not bounce back to pre-recession levels. Last month the Fed said it was likely to keep interest rates exceptionally low through late 2014 [...]

The future of the world economy

Kenneth — Mon, 06 Feb 2012 17:29:14 +0000

It must now be obvious that, economically speaking, we’re in another country. Things we once took for granted no longer apply; things we never imagined occur all the time. We’ve entered a zone of ignorance where familiar experience and ideas count for less. “Thirty years ago, if you’d said that the United States and Europe [...]

Economic Snapshot for January 2012

Kenneth — Mon, 30 Jan 2012 19:05:00 +0000

The economy is gradually gaining strength, creating more jobs, and reducing the unemployment rate. Economic pain for American families, though, remains significant with relatively high unemployment, persistent long-term unemployment, lingering household wealth losses, and crushing debt burdens. The economy will have to grow much faster for much longer to restore economic security for America’s middle [...]