Saturday December 7, 2019
| Last update: Friday at 8:48 AM
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.
recession
BY Adam Price | San Jose, CA | 5/11/09
The United States is now in its longest recession since the Great Depression of the 1930s.
BY Adam Price | San Jose, CA | 12/06/08
On Friday, Dec. 5, the Department of Labor reported that 533,000 jobs were lost in November, the worst one-month decline since 1974.
BY Adam Price | San Jose, CA | 9/21/08
The year-old financial crisis entered a new stage in September as the U.S. financial system suffered its worst setbacks since the Great Depression of the 1930s.
BY Adam Price | San Jose, CA | 3/24/08
On Friday, March 14, the fifth largest investment bank in the United States, Bear Stearns, failed.
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