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Alabama county files biggest municipal bankruptcy

BIRMINGHAM, Alabama (Reuters) – Alabama’s Jefferson County filed for bankruptcy court protection on Wednesday in the biggest municipal bankruptcy in U.S. history. Commissioners for the county, which is home to Birmingham, the state’s biggest city and economic powerhouse, voted 4-1 to declare bankruptcy after meeting behind closed doors for two…

Moody’s stays negative on states, local governments

(Reuters) – Even though the recession officially ended more than two years ago, the still-weak U.S. economy and a pullback in federal support means the outlook for states and local governments remains negative, Moody’s Investors Service said on Monday. The two sectors of the $3.7 trillion U.S. municipal bond market…

Government layoffs slow U.S. cities’ recoveries: report

WASHINGTON (Reuters) – The layoffs of thousands of government workers may threaten the already slow-motion economic recovery in many U.S. metropolitan areas, according to a report released on Wednesday by the Brookings Institution. “Job growth, though occurring in more metropolitan areas than in the past, was sluggish,” the think tank…

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