Economy, Records | featured news

A record number of U.S. counties - more than 1 in 3 - are now dying off, hit by an aging population and weakened local economies that are spurring young adults to seek jobs and build families elsewhere.

Despite everything, the stock market is back at a record high. The Dow Jones industrial average, which measures the performance of 30 blue-chip companies, rose more than 140 points in afternoon trading on Tuesday, surpassing its previous record close of 14,164.53, which it achieved nearly five and a half years ago, as well as its record intraday high, set around the same time, of 14,198.10.

The data is likely to put pressure on the European Central Bank to cut interest rates at its next meeting.

The number of Americans on food stamps hit a record high in June, and economists don't expect much improvement as long as unemployment remains high. Those receiving benefits through the Supplemental Nutrition Assistance Program numbered 46.37 million, the government said in a report that hit just days ahead of the monthly nonfarm payrolls report, which the Labor Department releases Friday.

U.S. mortgage rates dropped to new lows after the latest round of gloomy economic data hurt Treasury yields, according to Freddie Mac's weekly survey of mortgage rates.

Administration estimates record-setting amount will drop to $1.3 trillion in 2011; Obama's proposed $3.8 trillion budget focuses on economy.

The anemic economy decimated state tax collections during the first three months of the year, according to a report released Friday by the Rockefeller Institute of Government. The drop in revenues was the steepest in the 46 years that quarterly data has been available.

Despite steep discounting and unprecedented incentives, hotel occupancy in Hawaii continues to slide to new lows because of the slowed global economy.

Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter.

Japan's economy recorded its steepest contraction on record in the first quarter, sliding 4%.