Consumers’ confidence in August dropped almost 15 points to the lowest level since April 2009 as worries about the economy fueled the wildest stock market swings since the financial meltdown in 2008. At a time when Americans are growing increasing worried about a weak job market, higher costs for food and clothing and recent stock [...]
Continue reading …One-third of employees have lunch at their desk each day, and another third take no lunch at all, according to a new survey by Right Management. The company polled 751 workers in North America and asked how often they break for lunch. “Lunch patterns allow us to infer a few things about the North American [...]
Continue reading …President Barack Obama tapped labor economist Alan Krueger for a top administration post Monday, rounding out his White House economic team ahead of a highly-anticipated announcement next week on a new jobs initiative. Obama announced Krueger’s nomination to chair the White House Council of Economic Advisers in a Rose Garden ceremony Monday morning. The president [...]
Continue reading …U.S. Solar Industry exported $5.6 billion last year, according to the U.S. Solar Energy Industry Association. The biggest export item was photovoltaic components, which accounted for more than 99 percent of last year’s exports, with solar heating and cooling equipment claiming the remainder. For the manufacturing industry, 2010 was a record year for the photovoltaic [...]
Continue reading …Federal Reserve Chairman Ben Bernanke signaled Friday that Congress must do more to promote growth, or risk delaying the U.S. economy’s return to full health. Bernanke proposed no new steps by the Fed to boost the economy. But at a time when Congress has been focused on shrinking long-run budget deficits, he warned lawmakers not [...]
Continue reading …Republican Rep. Mike Coffman says members of Congress should follow millions of American workers and give up their pensions. The Republican from suburban Denver says that when Congress returns from recess, he’ll suggest cutting the pension available to members with at least five years’ service. Coffman says that the bad economy prompted his idea. Coffman [...]
Continue reading …An early stock market rally faded Wednesday, leaving indexes with small losses in early afternoon trading. The price of gold slumped 4 percent as investors became less fearful. A sharp increase in orders for long-lasting goods in July eased fears that the U.S. was headed for another recession. Companies placed more orders for aircraft, automobiles [...]
Continue reading …Stocks moved higher early Tuesday for the second day in a row, led by technology companies. Cisco Systems Inc. rose the most of the 30 stocks in the Dow Jones industrial average, gaining 2 percent. Microsoft Corp. and Oracle Corp. also rose 2 percent. Bank of America Corp. sank more than 3 percent, the worst [...]
Continue reading …A new survey says salaried U.S. workers can expect another year of modest raises in 2012. After increasing salaries by 2.6 percent this year and last year, companies are planning a 2.8 percent bump in 2012, benefits and human resources consultancy Towers Watson reported Monday. That’s somewhat smaller than raises in the last decade. From [...]
Continue reading …Oil prices are mixed Monday as a rebellion in oil-rich Libya appeared close to ending. The ouster of Libyan leader Moammar Gadhafi’s could allow the nation to resume oil exports, which have stopped during the country’s six-month conflict. That could ease global supply constraints that drove fuel prices to three-year highs earlier this year. But [...]
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