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Americans love economic mobility. It’s kind of a founding myth for us: We see ourselves as having broken free from rigid, aristocratic Europe to form a meritocracy that guaranteed a chance to move up in the world. Though there has been much talk lately about rising income inequality in the United States, what has worried [...]
NEW YORK (AP) — The struggling countries of Europe have cut spending for two years in hopes of averting financial catastrophe and persuading bond investors to buy their debt. But the world’s most influential bond investor thinks it won’t work.
So voters in France and Greece sent an inescapable signal to the euro zone: No more austerity. In doing so, they showed that the average guy on the street understands economics better than the people in power. Rather than reducing debt and returning the European economy to health, the all-austerity approach to solving the debt [...]
NEW YORK — Small business owners recovered some of their optimism during April, but they’re still wary about the economy. The National Federation of Independent Business said Tuesday that its index of small business optimism rose 2 points last month, bringing it to 94.5. That makes up for the 2 points lost in March, but [...]
BRUSSELS (AP) — Germany and the European Commission on Tuesday called on EU nations to stick to their agreed budget cuts despite mounting voter discontent, but promised some new efforts to boost growth to alleviate economic hardship. In elections on Sunday, voters in France and Greece gave strong support to parties who want to roll [...]
WASHINGTON — The Senate is the newest arena in the election-year face-off over federal student loans, and both sides are starting out by pounding away at each other.
Mediocre growth, overly cautious corporations and government cutbacks figure to stifle employment gains until there is some comprehensive economic policy
NEW YORK (AP) — The price of oil dropped below $100 per barrel for the first time since February. The dramatic drop — $5 per barrel by midday — is easing fears that high energy prices would cripple a U.S. economy that is struggling to overcome high unemployment, stagnant wages and weak growth. The catalyst [...]
Any way you cut it, the Labor Department’s announcement that the U.S. economy added just 115,000 jobs in April is a disappointment. Economists had been expecting 160,000 new jobs, and even that number is far below the kind of growth our economy needs to get back to full strength in the near term. At the [...]
The Labor Department’s April jobs report will be released Friday, and should provide an important data point about the health of the U.S. economy. Economists, investors, policy-makers, politicians and the general public will be watching closely to see how many jobs the U.S. economy added last month, and whether the unemployment rate stayed level or [...]
