Word: recessional
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Spending Cuts Then came Spain's property crash and the financial turmoil in the U.S., which tipped the world into recession. On a recent Friday, González's studio was empty. There is at least one boarded-up storefront on every block of the street where it is located...
Thwarted ambition is not the only problem. One of the dirty little secrets of Spain's boom years was the number of people Spanish firms employed on casual contracts. In an effort to make its labor market more flexible, the country has the highest rate of temporary jobs in the...
That, in turn, fuels the profound sense of frustration and hopelessness shared by millions of young Europeans as the recession tightens. In some ways, the good years have made things worse. Lorena Domínguez, the unemployed automobile worker in Vigo, never had a permanent contract at Citroën...
'I would actually, rather than say misread--we had incomplete information.' President BARACK OBAMA, countering that officials knew the recession was "going to be deep" and "going to last a while"
While the recession hasn't spared any age group, it's been particularly brutal for older Americans who were counting on their (now shrunken) nest eggs to last through their retirement years. To supplement their stash, an increasing number of seniors are turning to reverse mortgages, which function essentially as...