Recession | featured news

We criticized Republicans last week for promoting the “true but false” assertion that under Obama, women have lost seven times as many jobs as men. This did not stop the Mitt Romney campaign from trying to promote this idea, which Treasury Secretary Geithner on Sunday labeled “ridiculous and deeply misleading.”

The Romney campaign has been repeating the stat all week: Women account for 92.3 percent of jobs lost under Obama. That number is, everyone agrees, misleading. But that’s politics.

Technically, the economy has been in recovery for two years. But it turns out the rich have been doing most of the recovering. In 2010 -- the first full year since the end of the Great Recession -- virtually all of the income growth in America took place among the country's very wealthiest people, says an economist at the University of California, Berkeley. The top 1 percent of earners took in a full 93 percent of all the income gains that year, leaving the other 7 percent of gains to be sprinkled among the vast majority of society.

It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession. Now the Dow is within reach of the rarefied 13,000 mark — a level it hasn't seen since May 2008, four months before the financial system almost came apart.

The U.S. economy grew at a modest 2.8 percent in the final three months of last year, the fastest growth in 2011. Americans spent more on cars and trucks, and companies built up their stockpiles. But growth in the October-December quarter — and all of 2011 — was held back by the biggest annual government spending cuts in four decades. The Commerce Department says the economy grew just 1.7 percent last year, roughly half of the growth in 2010 and the worst since the recession.

The expansion in public prekindergarten programs has slowed and even been reversed in some states as school districts cope with shrinking budgets. As a result, many 3- and 4-year-olds aren't going to preschool....

The final weeks of 2011 were the economy's strongest since it appeared to be slipping toward recession in late spring.

After hitting a 30-year low in 2009, U.S. auto sales are poised for a second straight year of growth - the result of easier credit, low interest rates and pent-up demand for cars and trucks created by the Great Recession....

Global emissions of carbon dioxide from fossil-fuel burning jumped by 5.9 percent, upending the notion that the brief decline during the recession might persist.

Chinese factories battled with their weakest activity in 32 months in November, a preliminary purchasing managers' survey showed, reviving worries that China may be skidding toward an economic hard landing and compounding global recession fears.