The fiscal 2013 budget President Barack Obama will present to Congress on Monday will include hundreds of billions in infrastructure spending and a projected deficit of $901 billion, or about 5.5 percent of the nation's gross domestic product.
Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate.
The historic streets of Athens are the site of much mayhem and political theater as tens of thousands of Greek citizens have taken to the street to demand their government cancel further austerity measures.
The Philadelphia Federal Reserve released a survey Friday that suggests the employment rate will drop further as 2012 progresses. Currently the unemployment rate in the country hovers near 8.5 percent.
Chris Mok, like many Americans over the past few years, lost his job in the wake of the Great Recession.
Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances.
Economists see the unemployment rate falling much faster than previously expected this year, even though they slightly lowered their outlook for economic growth, a survey released on Friday showed.
French President Nicolas Sarkozy is up for re-election this year. He faces stiff competition from both the Socialist Party and the extreme right National Front. With France's economy in shambles, Sarkozy's re-election prospects look slimmer every day.
Thanks to expansive oil fields and a reservoir of millions of barrels of crude, Nigeria is the third-richest country in Africa. But due to corruption, poor wealth distribution, and lack of infrastructure, the nation's people suffer from staggering rates of poverty.
Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but eurozone finance ministers demanded more measures and a parliamentary seal of approval. Finance ministers of the 17-nation eurozone meeting in Brussels warned there would be no immediate approval for the rescue package.
Republicans expressed frustration Thursday at the slow pace of negotiations over extending a tax break for workers that expires at the end of the month, accusing President Barack Obama and Senate Democrats of blocking agreement.
Hours after Greece's ruling coalition announced it had concluded an 11th-hour agreement on new austerity measures in an effort to satisfy foreign lenders, it seemed that everyone - from creditors abroad to political allies back home - was turning on the Greek leadership.
Greek political leaders clinched a long-stalled deal on Thursday on harsh austerity measures and reforms required to secure a second international bailout in two years but the country's financial backers reacted skeptically.
The number of Americans signing up for unemployment benefits unexpectedly fell last week, the latest sign of recovery in the labor market.
The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, suggesting recent gains in employment are being sustained.
The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, suggesting recent gains in employment are being sustained.
Fresh off the Louis Vuitton condoms hype on Twitter and as the birth control debate gains more steam, a new type of condom is making a splash on the Internet: Romney condoms. They are the latest attempt at poking fun at Mitt Romney, the Republican presidential candidate, and were launched on Wednesday.
U.S. 30-year fixed-rate mortgage rates remained at a record low of 3.87 percent in the week ending Feb. 9, unchanged from the previous week, according to Freddie Mac.
New claims for unemployment benefits unexpectedly fell last week, a government report showed on Thursday, further evidence the labor market was gaining traction.
Greece's jobless rate rose to a fresh record of 20.9 percent in November, highlighting the pain imposed by austerity on ordinary Greeks as the country negotiates a new pain-for-gain package with its EU and IMF lenders.
Greek leaders clinched a long-stalled deal on reforms and austerity measures needed to secure a bailout and avoid a messy default, government sources said, hours before the country's financial backers were to meet in Brussels on Thursday. The euro and European stocks strengthened on news of the breakthrough.
Claims for jobless benefits fell for the second straight week, suggesting the labor market recovery is gaining momentum.
