Recession, Government | featured news

Lithuania election: Voters 'dump austerity government'

Lithuanians have voted out their conservative government after one of the world's deepest recessions, early results suggest. Two leftist parties, Labour and the Social Democrats, are currently placed first and second.

 

Usually a job engine, localities slow US economy

Usually a job engine, localities slow US economy

In a healthy recovery, states and localities produce jobs, expand social services and help fuel the nation's economic growth. Then there's the 2011 recovery. The U.S. economy is moving ahead, however fitfully. Yet state and local governments are still stuck in recession. Short of cash, they cut 30,000 jobs in May, the seventh straight month they've shed workers. Rather than add to U.S. economic growth, they're subtracting from it.

 

U.S. Economy Started to Grow Again in the Third Quarter

U.S. Economy Started to Grow Again in the Third Quarter

The government reported that output of goods and services grew at a 3.5 percent annual rate, which was faster than expected. But it will be months before job-seekers feel the benefits.

 

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