As the budget deadline draws near, many citizens and businesses are wondering what will happen if Congress fails to agree on a budget before Friday at midnight. Paul Kane congressional reporter for The Washington Post, and Charlie Herman WNYC's business and economics editor, outline what actually happens if the Federal government shuts down, which workers would get paid, and how it would affect everyone else.
Congress continues to battle over the nation's budget. Could the government be headed for a shutdown? Charlie Herman, economics editor for The Takeaway and WNYC Radio, and Callie Crossley, host of The Callie Crossley Show on WGBH, look ahead to the week in news.
Private employers, the backbone of the economy, drove nearly all of the gains last month, adding 230,000 new jobs. This comes on top of the 240,000 added in February and was the first time private hiring topped 200,000 in back-to-back months since 2006. There was good news about unemployment numbers too, as the unemployment rate dipped from 8.9 percent in February to 8.8 percent in March. The rate has fallen a full percentage point over the last four months, the sharpest drop since 1983. Charlie Herman, economics editor for The Takeaway and WNYC Radio, analyzes the news.
With support from coalition forces in the air, Libyan rebel forces have been able to recapture recent losses and are pushing towards Col. Moammar Gadhafi's strongholds. However, the U.S. is committed to passing responsibility on and Defense Secretary Robert Gates told NBC's "Meet the Press," "beginning this week or within the next week or so, we will begin to diminish the commitment of resources that we have committed to this." Marcus Mabry, editor-at-large of the International Herald Tribune, looks at how the impact of a U.S. drawdown could impact the situation in Libya.
Wages for county employees will be frozen in Nassau County after a state oversight board declared a fiscal emergency in the wealthy Long Island community.
The state oversight board that took control Nassau County's finances could decide Thursday to declare a fiscal emergency in the county and freeze public employee salaries.
Charlie Herman, WNYC business and economics editor, continues the discussion of inflation numbers and fields calls about where you see costs on the rise and how it may be changing your behavior.
Listeners: Where do you see prices rising? How is it changing your behavior? Call us up or tell us here!
WNYC business and economics editor Charlie Herman discusses inflation numbers and fields calls from business owners about how higher prices are affecting business.
Listeners: Are you seeing higher prices? Business owners, are higher prices affecting the way you're operating. Tell us about it!
Operation Odyssey Dawn began Saturday with coalition missiles targeting Moammar Gadhafi's tanks and air defenses. Is the United States leading this effort? Meanwhile, relief and rescue efforts continue in Japan and time is of the essence as over 12,000 people are still missing and 8,000 have been confirmed dead so far.
With the president traveling in Latin America and Congress on recess, there's no one issue driving the economic agenda and markets this week. As a result, investors will be pay close attention to the allies' air assault in Libya as well as other developments in the Middle East and what they mean for oil production and prices.
People will bet on just about anything.
If there is no major fallout from the damaged nuclear reactors, the economic effect of Friday's earthquake and resulting tsunami is largely expected to be limited to Japan. Spending to rebuild Japan will most likely help boost economic growth, but that this spending will most likely add to Japan’s public debt, already the second worst in the world.
The 8.9 earthquake and tsunami that rocked Japan Friday is certain to have an impact on the world's market. Already Japan's Nikkei average fell over 4 percent in early trading Monday morning. Charlie Herman, economics editor for The Takeaway and WNYC Radio, looks at how the disaster in Japan could affect the U.S.'s economy and stock market.
As recovery efforts continue in Japan and rescuers keep searching for the injured, dead and missing, the growing nuclear crisis has the country — and the world — on edge. Just how successful Japan is at preventing a possible meltdown at the reactors will spell the difference between a short-term, immensely tragic event and a long-term, global disaster.
Whether or not to enforce a no-fly zone over Libya is becoming a hot issue in Washington. Many lawmakers like Senator John McCain (R-Ariz.) and Senator John Kerry (D-Mass.), are calling for a no-fly zone, as rebels in Libya face rough times against the better equiped Libyan armed forces. Callie Crossley, host of The Callie Crossley Show on WGBH in Boston, looks at what we can expect next in the Libyan crisis this week.
Without a lot of economic news this week, investors will be paying close attention to oil and gasoline prices, trying to determine just how much higher prices could slow down economic growth in the U.S. This week marks the two-year anniversary (no cake expected) of the low point of stocks during the financial crisis.
The U.S. job market bounced back in February as the unemployment fell below 9 percent for the first time since April 2009.
The U.S. economy added a net 192,000 jobs in February, according to the latest Labor Department figures out Friday. The unemployment rate is now at 8.9 percent — the first time that figure has dropped below nine percent in nearly two years. Takeaway and WNYC economics editor, Charlie Herman and The Wall Street Journal's Kelly Evans look at the numbers.
The government is on the verge of a shutdown Friday, as Democrats and Republicans try and come up with some kind of resolution on the budget. Chrystia Freeland, global editor-at-large of Reuters, and Charlie Herman, economics editor for The Takeaway and WNYC Radio, will look into their chrystal balls and see if any resolution is in sight. While Washington makes attempts at a budget resolution, Secretary of State Hillary Clinton is heading to Switzherland to come up with a resolution on dealing with Col. Moammar el-Gadhafi and Libya. Are Gadhafi's days numbered?
Sales of existing homes rose unexpectedly in January, but the increase came largely from investors and all-cash buyers snagging deals on foreclosed homes rather than first-time homebuyers.