Japan's real GDP growth rate fell at an annual rate of 12.7 percent in the 4th quarter of 2008. Its total exports fell at the sharpest pace on record. Capital investment and personal consumption also declined.
President Obama aims to create or save 3.5 million jobs over the next two years by spending some of the money in the recently-enacted stimulus plan on modernizing the nation's roads and bridges, investing in public transportation, and making federal office buildings more energy-efficient.
Recessions hurt. And they hurt the poor and socially marginalized populations the most. As we face the prospect of the second recession of the decade and consider the merits of various stimulus packages, it is useful to examine what a recession would mean for black America.
Since the economic crisis we're now in is being compared to the Great Depression, the solutions being offered are being routinely compared to the New Deal. Republicans in particular have been quick to pronounce the New Deal a failure as a way of justifying their opposition to the new stimulus package and any other federal response to our new Great Depression.
US President Barack Obama signed his hard-fought stimulus plan into law on Tuesday in the hope that the huge injection of public funds will cushion the collapsing US economy.
ATLANTA, Georgia, 5 Feb (IPS) - Homeless advocates in the United States say if the new Congress and the Barack Obama administration do nothing, many more low-income people already teetering on the brink could end up living on the streets over the next two years.
Washington, (Prensa Latina) This will be a decisive week for US President Barack Obama to have his controversial economic rescue plan approved and to tour the south of the United States.
Original source: With today’s unemployment report showing nearly 600,000 jobs lost in January—worsening the U.S. unemployment rate from 7.2 percent to 7.6 percent—will obstructionist Republicans in Congress finally move the economic recovery bill?
Reposted from Morning Star GERMANY is facing a dire economic crisis. Following the collapse of Lehman Brothers in the United States last September, it became apparent that German banks also had large amounts of toxic real estate credits in their portfolios.
The US private sector cut 522,000 jobs in January. The private consulting firm Automatic Data Processing (ADP), number layoffs in manufacturing at 243,000 and 279,000 in services. ADP says large companies slashed 92,000 jobs, mid-size companies 255,000 and small companies lost 175,000.