The stock market came to life this week, as investors bet that the economy wouldn't be as bad as had been priced in. The ISM Index, a gauge of manufacturing activity, rose more than expected, construction spending grew, and Europe started to get its act together on a massive bailout fund. But as usual, it all starts with unemployment.
Recovering financially after long-term unemployment isn't easy, but it's fairly straightforward: Pay off debts, rebuild savings, and adjust to your new income. Recovering emotionally is far more complicated -- it means retraining your brain and consciously shifting your perspective.
September is finally over, and we're heading into a few fast weeks of economic data and earnings releases. With stock market and macroeconomic factors taking new twists nearly every day, it's hard to keep up. So let's focus on the data and news that will matter most to your bottom line.
It's hard not to sound like the Grinch these days: As we head into the holiday season, unemployment remains painfully high, and August 2011 saw a 47% increase in layoffs compared to last year, with no growth in hiring. Poverty stats are equally dismal, with the cost of living rising. Here's how retailers are responding.
Poverty has been rising even faster in the suburbs than it has in cities -- about five times faster, according to the Brookings Institute. To help understand this phenomenon, 24/7 Wall St. has analyzed the 10 metropolitan areas with the highest rates of poverty in their suburbs.
At Mo'joe Cafe in Berkeley, CA, customers huddle over their laptops and lattes, searching for jobs or working remotely as contractors. But business overall -- meaning mainly the "morning rush" -- is slow, and has been since the economic downturn. Could coffee sales be an index of economic health?
In this economy, many Americans feel grateful to have jobs in the first place. The nation's high unemployment rate makes recent video of some of Chrysler's unionized workers drinking and smoking pot on the job all the more galling. It's time for unions to stop protecting slacker employees.
During a volatile week, stocks bounced between Mideast turmoil and generally strong economic reports. Even with the jobless rate's surprising drop, equities ended on a down note. Still, stocks eked out a tiny overall gain on the week. [Video]
The market suffered its biggest swoon since August last week as chaos swept Libya and oil prices hit multiyear highs. With the geopolitical landscape uncertain for the foreseeable future, don't be surprised if stocks come under further selling pressure in the days ahead. [Video]
U.S. unemployment fell during the last half of October, indicating that the government-measured unemployment rate over the next month may drop to its lowest levels in more than a year.
The number of new and continuing jobless claims fell last week, a sign of modest progress in the labor market. After a seasonal rise this summer, claims appear to be trending lower.
