UNEMPLOYMENT

After $1 Million Jackpot, Lottery Winner Still Collects Food Stamps Every Month

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While a bill to bar lottery winners from collecting governmental food assistance has been pushed and discussed in the Michigan Legislature, Amanda Clayton, who won $1 million last fall, reportedly still, collects $200 worth of food stamps a month. According to Yahoo news, the 24 year-old from Lincoln Park, Michigan said she will continue to collect her benefits until she is officially cut-off, despite her mega win.

European Recession 2012: How Would It Affect The US Economy?

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If Europe is hit by a recession, bond investors might be led to assume that countries on the continent will have a harder time repaying debts, and that assumption could prompt them to sell off European debt, exacerbating the current crisis.
Gold Falls For Fourth Day As Euro Sags

South African Miners Stage One-Day Strike

Tens of thousands of South Africans staged a one-day national strike on Wednesday, hitting mining production, as the biggest labour group in the continent's largest economy flexed its muscles to remind the ruling ANC of its political clout.
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Europe GDP

Euro Zone GDP Down 0.3% in Q4

A collapse in household spending, exports and manufacturing sucked the life out of the euro zone's economy in the final months of 2011, the EU said on Tuesday, showing the scope of the downturn that looks set to become a fully fledged recession.
Shoppers walk past a clothing store window advertising sales during the first day of the winter sales in Nice

Euro zone Industry, Spending Slump in Late 2011

A collapse in household spending, exports and manufacturing sucked the life out of the euro zone's economy in the final months of 2011, the EU said on Tuesday, showing the scope of the downturn that looks set to become a fully fledged recession.
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Wall Street Bonuses Fell 25% in 2011 -- NYC Monitor

Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry had anticipated, though still likely to deal a blow to the economies of New York City and New York state.
Republicans Slam Obama Despite Positive February Jobs Report

Obama Is Growing a Spine -- Or Not

When folks think about President Barack Obama, two specific adjectives flash across millions of American minds: foreign-born and duplicitous. He also reads teleprompters very well.
Tesco to create 20,000 jobs in UK

Tesco to Add 20,000 UK Jobs

Tesco Plc (LON:TSCO), the UK's largest retailer, said Monday it would add 20,000 local jobs over two years.
China npc

China Cuts 2012 GDP Target to 7.5%, an 8-Year-Low

China lowered its economic growth target to an eight-year-low of 7.5 percent from an 8 percent goal in place since 2005, a signal that the country's leaders are determined to scale back the reliance on external demand and foreign capital, in favor of domestic consumption.
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Euro zone retail sales post surprise rise

Euro zone shoppers increased spending in January, a surprise after four months of falls but economists said a quarterly reading that smoothes over the data still showed a large decline.
Ron Paul on Iran at Arizona Republican Debate: Answer Gets Boos and Cheers

Ron Paul Unimpressed by Limbaugh Apology

Rep. Ron Paul expressed doubt Sunday that Rush Limbaugh was sincere when he apologized for calling a law student a slut over her support for President Barack Obama's new policy on insurance coverage of contraceptives.
Traders work on the floor of the New York Stock Exchange, February 28, 2012.

Jobs Reports Could Fuel Continued Rally in Stocks

Stocks have proven the naysayers wrong so far in 2012. And the February employment situation summary on Friday could be just the ticket to keep the bulls going next week. Besides the jobs report on Friday, next week brings an ADP private-sector employment report on Wednesday.
Moody's

Moody’s Downgrades Credit Rating of Greece

Moody's Investors Service on Friday cut the credit ratings of Greece, saying that the recently announced debt-exchange proposals for the country imply expected losses to investors of more than 70 percent.
U.S. Economy

GOP: Generations-Outdated Policy

With the U.S. economy showing signs of strengthening due to Keynesian economic policies, the Republican Party should do itself a favor: stop offering ineffective economic policies and quit while it's behind.
The European Central Bank (ECB) President Mario Draghi

Greek Bailout, U.S. Nonfarm Payrolls Highlight Economic Tape Next Week

The week ahead will largely be defined by two major events. First, on Friday, the February U.S. nonfarm payrolls report will be released, providing important data about the economic recovery. Second, also on Friday, euro-zone finance ministers will hold a conference call to decide whether Greece can get its second, €130 billion ($175 billion) bailout.
Spain's PM Rajoy holds a news conference at the end of a European Union leaders summit in Brussels.

Spain May Miss 2012 Deficit Target

Despite agreeing to the new European Union fiscal stability pact, Spain has autonomously decided to defy the established deficit target. Spain will not reach the previously set deficit target of 4.4 percent of gross domestic product (GDP) and instead opts for more flexibility, setting a new target of 5.8 percent of GDP.
Spain

Spain Defies Brussels on Deficit Objective

Spain defied the European Union on Friday, setting a 2012 deficit target at 5.8 percent of gross domestic product, a far softer goal than the 4.4 percent agreed with Brussels.

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