Word: joblessness
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...Democratic administration that “spreads the wealth around?” That is, even if the top four economic quintiles, say, are made better off over the next few years, can those gains reach down into the few American communities that are deeply poor, dangerous, ill-educated, jobless, and isolated...
...large portion of its consumer base but will gain larger support of wealthy individuals, who will still maintain their spending power despite the recession. If Charney decides to take his business the other way, he can expand his production operations, which will offer more jobs in an inflated jobless market, cut prices for the consumer, and carve out a larger portion of the domestic clothing market.But until it decides between the extremes, American Apparel may be fated to be a passing fashion fad that simply costs too much to justify its purchase over thrift store duds and sealed, Fruit...
...home, a significant impact of the European slowdown is likely to be a rise in unemployment. The number of jobless in the E.U. dropped sharply between 2005 and 2007 and then flattened out at 25-year lows. But the latest statistics from France, Ireland, the U.K. and some other countries show that the unemployment rate is starting to pick up again. The IMF, which has slashed its growth forecast for the euro-zone countries for 2009 to a negligible 0.2%, predicts that the percentage of jobless in those 15 countries will jump above 8%. Worst hit will be Spain, where...
...American behemoth stumble: the not-so-almighty dollar began to rise. Since mid-July the greenback has gained more than 16% against the euro. And why? Because for all its troubles, the U.S. still looks like a safer and ultimately more profitable haven than Europe, with its irreducible jobless rate of about 8%, or those trendy emerging markets that have now crashed back to earth. You would have thought the U.S. would be hemorrhaging trillions by now; instead the rest of the world is learning to love its currency again...
After the 1929 collapse, which at its worst left a quarter of the workforce jobless, the U.S. instituted safeguards to ensure liquidity, confidence and trust in the U.S. financial system. There were four pillars: insuring the bank deposits of everyday Americans, allowing access to government funds in case of a panic, providing a regime for the orderly failure of badly run companies and limiting how much credit could be leveraged off a particular asset...