The unemployment rate is expected to tick up slightly to 9.2 percent. Two years ago, it was 9.5 percent. The reason for that decline: People are dropping out of the labor force and are no longer looking. It's the first time in a half-century that the labor force is decreasing, a development with long-term negative implications.
When President Obama unveils his jobs plan to Congress next week, he'll have to balance his desire for spending on programs that might stimulate the economy against the nation's current appetite for cost-cutting. We examine the pros, cons and politics of six proposals that might make Obama's list.
In 2010 President Obama gave a speech at the plant of a solar panel manufacturer in Fremont, Calif., saying "the future is here." That company, called Solyndra, has now declared bankruptcy. Melissa Block speaks with Bay Area business reporter George Avalos about what went wrong.
Goldman Sachs' mortgage subsidiary agreed to stop many of its controversial mortgage-related practices, including robo-signing mortgage paperwork. And the Federal Reserve announced action against Goldman to address a pattern of misconduct and negligence in how the firm handled mortgage loans and foreclosures via the subsidiary.
President Obama recently asked for a joint session of Congress next Wednesday so he could discuss his jobs plan. House Speaker Boehner suggested next Thursday instead, and Obama agreed. Meanwhile, other GOP hopefuls are beginning to offer their own job plans. Host Michel Martin talks politics with author Michael Fauntroy and The Weekly Standard Opinions Editor Matthew Continetti.
Virginia owes $20.2 million in interest to the federal government on money borrowed to fund extended unemployment benefits. The state must now decide how to fund next year's unemployment benefits, and their decision could impact employers who pay into the trust fund.
It might seem obvious that banks are attracted to wealthy areas, but it turns out, they may also help make communities safer and more prosperous. To learn more about that relationship, a researcher at the University of Virginia has been studying what happens when banks leave poor areas, and why credit unions and banks can pay big neighborhood dividends.
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