The United States is going through the worst financial crisis since the Great Depression. Are the government’s efforts to pull the economy out of a devastating recession beginning to show signs of progress?
By no means are we out of the woods just yet, but we are beginning to see glimmers of hope, according to the [...]
Continue reading about Are We Climbing Out Of The Recession?
In response to the previous posting, this is one of today’s top news stories:
WASHINGTON – Barack Obama countered critics with an analysis Saturday by his economic team showing that a program of tax cuts and spending like he’s proposed would create up to 4.1 million jobs, far more than the 3 million he has insisted are needed [...]
WASHINGTON (Reuters) – The number of American workers filing new claims for jobless benefits surged to a 26-year high last week, Labor Department data showed on Thursday, as a deepening recession forced employers to cut back on hirings.
Initial claims for state unemployment insurance benefits jumped by 58,000, the biggest increase since September 2005, to a seasonally adjusted 573,000 in [...]
The unemployment rate generally doesn’t fall until after GDP turns positive again. When the last recession ended in November 2001, the rate didn’t peak for 19 months. So if this recession lingers longer than currently expected, unemployment might not peak until 2011.
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