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WATCH LIVE: Bernanke faces second day before Senate committee
Federal Reserve Chairman Ben Bernanke faces a second day of questions on the U.S. and world economy before a Senate committee. In his testimony Tuesday, Bernanke admitted that the U.S. economic data was “disappointing” and a declining changes to the country’s unemployment rate are “frustratingly slow.” Watch live, broadcast on…
Bernanke admits to Congress U.S. economic growth is ‘disappointing’
Federal Reserve Chairman Ben Bernanke admitted Tuesday that US economic data had been “disappointing” and that a future reduction in unemployment would likely prove “frustratingly slow.” Dealing a blow to Barack Obama and others hopeful for an improvement in economic news ahead of November’s presidential elections, Bernanke offered a gloomy…
U.S. economy adds 80,000 jobs in June, unemployment unchanged at 8.2 percent
The United States added a meager 80,000 jobs in June, the third month of weak job creation amid a sluggish economy, official data showed Friday. The unemployment rate was unchanged from May at 8.2 percent, the Labor Department said. The private sector accounted for all of the jobs growth, creating…
U.S. adds just 69,000 jobs in May, unemployment rises to 8.2 percent
The US economy added a scant 69,000 jobs in May, the lowest number in a year, and the unemployment rate rose to 8.2 percent, the government said Friday. The dismal report signaled that the much hoped-for recovery in the job market has stalled and fueled speculation that it may prompt…
Romney pledges 6 percent unemployment after saying 4 percent is too high
Presumptive Republican presidential nominee Mitt Romney is promising that unemployment will be at 6 percent or lower by the end of his first four years in office. During a Wednesday interview, Time magazine’s Mark Halperin asked the candidate to be specific about how many Americans would looking for a job…
Romney attacks Obama for not keeping unemployment below 4 percent
As the unemployment rate hit a three-year low of 8.1 percent on Friday, presumptive Republican presidential nominee Mitt Romney escalated attacks on President Barack Obama by moving the bar to 4 percent. “Just this morning there was some news that came across the wire that said that the unemployment rate…
U.S. unemployment rate falls to 8.1 percent, economy adds 115,000 new jobs
The US unemployment rate fell to 8.1 percent in April as the economy created a modest 115,000 jobs, official figures showed Friday, the eve of President Barack Obama’s maiden reelection rally. Despite the meager job creation, the Labor Department data showed unemployment at the lowest level in over three years.…
Eurozone unemployment hits record 10.9 percent
Eurozone unemployment spiked to a record 10.9 percent in March, piling pressure on governments on Wednesday to shift from austerity-first to growth policies so as to revive the economy. The figures, up from 10.8 percent in February, coincided with a survey showing manufacturing in the 17-nation eurozone stumbling to near…
Spain to persist in ‘suicidal’ austerity policies despite 25% unemployment rate
Figures released by the Spanish government on Friday show that country with an unemployment rate of 24.4%, the highest in Europe, and a rate of over 50% among 16-24 year olds. But despite the bad economic news, that country’s leadership appears determined to stick with the austerity program it has…
Obama applauds lower unemployment rate
US President Barack Obama Friday welcomed a downtick in the unemployment rate to 8.2 percent, despite a slowdown in overall job creation, but said there was more work to do to revive the economy. “We welcome today’s news that our businesses created another 121,000 jobs last month and the unemployment…
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