BY Fight Back! Editors | United States | 6/06/12
On June 1, the Labor Department reported that only 69,000 net new jobs were created in May, less than half of what economists had expected and less than a third of the relatively strong job growth of the December through February period.
BY Fight Back! Editors | United States | 10/05/11
On Sept. 30, the Economic Cycle Research Institute (ECRI) publicly stated that the United States economy was tipping into a new recession.
BY Fight Back! Editors | United States | 9/11/11
The U.S. economy continues to stagnate with almost no economic growth or job creation more than three years after the great financial crisis of 2008 and more than two years after the recession officially ended in 2009.
BY Masao Suzuki | San José, CA | 9/05/11
In a sign that the economy is on the edge of another downturn, the Labor Department reported on Sept. 2 that there was no gain in jobs in August.
BY Masao Suzuki | San José, CA | 8/09/11
On August 5, Standard and Poors, commonly known as S&P, downgraded U.S. government bonds from the highest rating AAA to the second-highest AA+.
BY Masao Suzuki | San Jose, CA | 8/01/11
On July 29, the Commerce Department released its report on Gross Domestic Product or GDP for the Second Quarter (April to June) of 2011. GDP, which measures the value of goods and services produced in the United States, rose at only a 1.3% annual rate, much slower than most mainstream economists expected. Even worse, the First Quarter (January to March) economic growth was cut from an earlier estimate of 1.9% to just 0.4%.
BY Masao Suzuki | United States | 6/27/11
On June 21, the Chairman of the U.S. Federal Reserve Bank, Ben Bernanke, gave a very downbeat report on the U.S. economy following a two day meeting of the Fed.
BY Masao Suzuki | San Jose, CA | 7/09/10
On July 8, the U.S. Department of Labor reported that almost 350,000 unemployed were dropped from federal unemployment insurance rolls.
BY Masao Suzuki | San José, CA | 7/04/10
On Friday, July 2, the U.S. Department of Labor reported that 125,000 jobs were lost in June. While the official unemployment rate fell from 9.7% in May to 9.5% in June, this was due to the 650,000 people gave up looking for work and were no longer counted as unemployed.
BY Adam Price | San Jose, CA | 1/20/10
Wages failed to keep up with the rise in prices, so weekly real earnings, or the purchasing power of workers’ weekly wages, fell by 1.6% in 2009.