(CNN Money) — The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end. But the news is little comfort to the millions of Americans still out of work, underwater on their mortgages or uncertain about the future. The National Bureau of Economic Research, an independent group of […]
(Technorati) — Thursday, the U.S. Census Bureau will issue a report on the 2009 poverty level and demographers expect the figure to rise from 13.2% to 15% which equates to 45 million people. This would be the largest year-over-year increase since the Census Bureau started keeping track in 1959. Among working adults aged 18-64 the figure […]
(Smart Money) — Although the fall typically brings a seasonal uptick in trading volume after a summer lull, the current lack of major market jolts may well continue until the November elections are over and the economic outlook becomes clearer. As market watchers wait, their comments reflect a slow but widening difference of opinion between the doomsayers […]
(24/7) — A recession is generally defined as two quarters of GDP contraction as noted by the Business Cycle Dating Committee of the National Bureau of Economic Research. The GDP contraction definition is narrow and cannot be used to define the recessions and depressions that occurred in the first 150 years after The United States […]
Economic recovery proves slow, here are ten indicators.
(The Grio) — I first met Hilda Solis when she was President Obama’s nominee to lead the U.S. Department of Labor, and I was communications director for Sen. Ted Kennedy and the Health, Education, Labor and Pensions (HELP) Committee, which would have to approve the nomination. Sen. Kennedy had come to admire Solis in 2000 when she received the […]
(Smart Money) — The debate over whether government stimulus poses an inflation threat has given way to new worries – a possible decline in prices, demand and even wages – caused by deflation. For most Americans, deflation is the stuff of history or case studies overseas. There has not been a major deflationary period in the […]
(AJC) — It’s not easy to decide where to put your money these days? The interest rates depositors earn from banks are at record lows — and Georgia banks’ rates are lower than most, according to a new study reported by AJC staffer Scott Trubey. The national average interest rate for all deposits — checking or savings accounts, […]
(Businessweek) — Over the past decade, I’ve seen a bunch of articles arguing that recessions are good for people who run their own businesses. With headlines such as “Entrepreneurs Should Love a Recession,” these authors claim that the down economy isn’t “bad news for entrepreneurs.” Instead, they argue that recessions are“one of the best times to start, […]
African-Americans have been hit hardest by The Great Recession.
(Sun Times) — Middle-class blacks are more likely than whites to have reduced their saving and investing to make it through the recession, according to the 2010 Ariel Black Investor Survey released today. It found that nearly half of all blacks, compared with 31 percent of whites with household incomes of at least $50,000, dipped into […]
Blacks remain up despite economic instability.