Wells Fargo

Job growth could cause scaleback of stimulus

Job growth could cause scaleback of stimulus

U.S. job creation probably picked up in August, signalling a steady pace of economic growth that would give the Federal Reserve ammunition to start scaling back its massive monetary stimulus this month. Employers are expected to have added 180,000 jobs to payrolls last month after creating 162,000 in July, according to a Reuters survey of […]

Are jobs gaining in the United States?

Are jobs gaining in the United States?

The U.S. economy has enjoyed a four-month stretch of robust job gains, and on Friday the government will report whether that trend endured into March. Economists generally think it did. They predict that employers added a solid 195,000 jobs, according to a survey by FactSet. That’s a healthy gain, although below February’s 237,000 net jobs […]

Politicians look for ways to claim credit for rising economy

Politicians look for ways to claim credit for rising economy

Increased hiring, lower unemployment, stock market on the rise. Who gets the credit? It’s a hotly debated point in Washington, where political scorekeeping amounts to who gets blame and who gets praise. Following Friday’s strong jobs report — 236,000 new jobs and unemployment dropping to a four-year low of 7.7 percent — partisans hurriedly staked […]

Feds claim dollar will rise in 2011

Feds claim dollar will rise in 2011

Never mind the lackluster economy, the huge trade deficit or the government’s piles of debt: The U.S. dollar is still expected to outperform most of the world’s major currencies next year. “By all rights, the dollar should be declining in value, but it’s not,” says Eswar Prasad, economics professor at Cornell University. “For the dollar […]

Foreclosure nightmares: When the banks get it all wrong

Foreclosure nightmares: When the banks get it all wrong

Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S. marshal’s sedan was peeling out of his driveway. Nailed to Marconi’s front door was a foreclosure summons from Wells Fargo, naming him as a defendant. […]

Even government workers face job losses

Even government workers face job losses

For years, most people who worked for state or local governments accepted a fact of life: Their pay wasn’t great. The job security was. Now that’s gone, too. States and municipalities are facing gaping budget gaps. Many have responded by slashing services, raising taxes and, for the first time in decades, making deep job cuts. […]