The world economy has entered a “dangerous new phase,” according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year.
The weak job market in the U.S. is sending many in search of a meaningful career headed to Asia, experts say.
The ranks of U.S. poor swelled to nearly 1 in 6 people last year, reaching a new high as long-term unemployment woes left millions of Americans struggling and out of work.
Editor’s Note: As the month of June comes to a close, the unemployment picture in the United States is still bleak at best. A news story from Reuters indicates that this week marks the 12th straight week that jobless claims were above “normal” or stable levels. We are not surprised by the unemployment levels, and in fact, we believe that the numbers are much higher than the government reports. We expect unemployment to remain high as economic conditions continue to worsen for the nation.
The unemployed have, on average, remained unemployed longer than in the 1930s; Employers wary of job gaps in resumes
As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report.
With her unemployment benefits coming to a halt, Miriam Cintron is forced to make a difficult choice between health insurance and daily expenses.
The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
American companies hired fewer workers in May than forecast and workers dropped out of the labor force, indicating government support is still needed to spur economic growth. Private payrolls rose by 41,000, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000, boosted by a jump in hiring of temporary census workers. The jobless rate fell to 9.7 percent from 9.9 percent.