Topic: John Canally

Ben Bernanke: Deficit must be cut, but debt limit 'the wrong tool'

Fed chief Bernanke avoids taking a position on taxes while telling Congress it must act 'in a timely manner' to reduce the deficit. Failing to raise the debt limit, he says, would be a costly mistake.

Stocks close lower for fifth straight week

The Dow closed down more than 90 points after the Department of Labor released a discouraging jobs report on Friday

Stocks end down. Oil rises, shutdown looms.

Dow falls 29 points as gold soars to new record and oil prices reach highest level since 2008. Traders focus on impact on stocks of a potential government shutdown.

Why Wall Street isn’t worried about a government shutdown

Wall Street insiders aren't worried the government might hang an 'out to lunch' sign. The market improved during the 1995 government shutdowns. Of greater concern: raising the debt ceiling.

Unemployment rate drops to 8.9 percent. Has the economy turned a corner?

Not only did the unemployment rate fall, but the US economy added 192,000 jobs in February. But economists view the numbers differently.

Unemployment jumps, job creation slows. Is economic stall-out here?

Unemployment rate rose to 9.8 percent, as US economy gained a disappointing 39,000 jobs last month, versus 172,000 in October. The news may prod Congress toward more stimulus spending.

Jobs growth shows some zip; unemployment rate unmoved

The economy created more jobs than expected – 151,000 – in October, the best showing since May. Jobs are being added in many sectors, including health care, retail, and temp agencies. The unemployment rate, though, still stands at 9.6 percent.

Unemployment rate drops to 9.5 percent, but US economy sheds jobs

Much of the drop in the unemployment rate occurred because disappointed workers stopped looking for jobs.

Finally, US economy adds 162,000 jobs

Not counting hiring of temporary workers for companies and the census, private-sector hiring rose a solid 80,000 in March.

Employment report: US losing jobs. No wait, it's gaining!

The ADP employment report shows the US lost jobs in March. But the government's expected to report a job gain. Confused? Read on.

Big winners right now in the job market: older white women

The unemployment rate for adult white women fell to 6.8 percent in January. Other statistics indicate that women over age 55 are faring well in the job market.

Consumer spending, business reports point to moderate recovery

Consumer spending rose 0.7 percent in October, and businesses started adding inventory after 10 months of lowering their stockpiles, according to reports Wednesday. Some see recovery at a moderate pace.

After dismal jobs report, unemployment rate could hit postwar high

Jobs report reveals a 10.2 percent unemployment rate. Four reasons not to panic.

Fed Beige Book: Economy tipping toward growth

In its Beige Book, the Fed sees US economy making 'modest improvements.'

Obama boosts aid to get more loans for small business

Obama will boost aid to banks that lend to small businesses and pushes Congress to increase caps on federal small-business loans.

Consumer spending, job numbers indicate uneven recovery

Consumer spending increased 1.3 percent in August, but a key reason was the 'cash for clunkers' program. Also, initial claims for unemployment rose last week, but the four-week average for claims fell slightly.

A year after Lehman collapse, signs US recovery has begun

President Obama delivers a major economic speech Monday to assess progress in the year since Lehman Brothers' collapse ignited a financial crisis.

Job losses slow, but US unemployment hits 9.7 percent

Unemployment rate eases to 9.4 percent

Job losses for July totaled 247,000 – the lowest level since August of last year.

US economy still contracting, but at slower pace

Second quarter GDP declined by 1 percent, compared with 6.4 percent in the first quarter. Will economic recovery be stronger than expected in the second half of the year?

Why US economy is poised to lift out of negative GDP

Economists see in second-quarter report some signs that the groundwork is laid for an upturn.

Minimum wage goes up. Do workers care?

Most hourly workers already earn more than the minimum, but some say the new rate of $7.25 an hour will be a modest boost to those earning the least.