The recovery is back! Or maybe not. On Thursday morning, the U.S. Commerce Department said the nation’s gross domestic product rose 2.5% in the third quarter, nearly double the 1.3% rate it had risen in the quarter before. And …
recovery
What Should We Call the Non-Recession Non-Recovery?
Technically, we’re not in a recession. And yet, judging by the anger on Wall Street and polls revealing that more than three-quarters of Americans sense we’re in a recession, it sometimes seems like the economy is faring just as …
Americans Overwhelmingly Pessimistic About the Economy, Says TIME/Money Magazine Survey
It’s not often that the majority of Americans agrees about, well, pretty much anything. But based on a joint series of surveys conducted on the behalf of TIME and Money magazines, there’s near unanimity among Americans that the …
“At this point, consumers can’t be expected to lead the economic recovery.”
Message to Businesses: Uncertainty is Here to Stay
The jobs report was bad enough. But it’s hardly the only indication of continuing trouble for the U.S. economy. Released at the end of June, U.S. Bancorp’s annual survey of nearly 3,000 small businesses confirmed what many …
What Recovery? The Five Myths About the Economy
This is not your father’s recovery. It might not even be a recovery at all. For more, read this week’s cover story by TIME’s assistant managing editor Rana Foroohar on the state of the economy.
Why Don’t Jobs and Corporate Profits Match Up?
The vibe on Wall Street couldn’t be more at odds with deflated Main Street. Yes, stock prices headed down after today’s disappointing jobs report, which showed unemployment rising to 9.1%. But for anyone who hasn’t noticed, big corporations are still making a killing. What gives?
It was only last week that a slew of companies reported …
Post-Recession Lingo: Need-to-Know Phrases for Today’s Consumers
Adding to the list of post-recession terms such as “unbanked” (individuals without checking or savings accounts), “anti-dowry” (student loan debt holding you back from getting married or buying a house), and “Groupon remorse” …
New Rules For the Job Interview
The job interview has always been a crucial part of the hiring process. But in today’s intensely competitive labor market, it couldn’t be more key. For every open position, expect to find an army of qualified, and even overqualified, candidates starving for work in a country with 9% unemployment. If you’re lucky enough to make it …
Nowadays, the Rich Actually Pause Before Spending, Care About Value
Research shows that in the post-recession era, wealthy Americans are more inclined to wait for items to go on sale before making purchases. Brand names mean less to them, marketing has less influence as well, and the number of well-off shoppers who say they trust salespeople has plummeted. In other words, the rich today are more likely …
Invasion of the Discount Retailers!
They’re an emerging new breed, and they’re coming to a strip mall near you. Filling the empty big-box shells left behind by Blockbuster, Circuit City, and other stores hammered by the one-two punch of the recession and the sharp rise of online shopping, these chains come seeking bargain shoppers (and cheap rent), and they’re numbers are …
Consumer Phrase of the Day: ‘Lipstick Effect’
This phenomenon explains why, even as the economy tanked, real estate foreclosures soared, and spending at restaurants and car dealerships plummeted, women still found ways to pay for lotions, hair treatments, lipstick, and other beauty products.