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Economic Slump

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Economic Slump stories:

Obama's job approval below 50 percent
Nov 20th, 2009 - UPI
Obama's job approval below 50 percent PRINCETON, N.J., Nov. 20 (UPI) -- Barack Obama's job approval rating has dipped below 50 percent for the first time since he was inaugurated as U.S...
US Initial Jobless Claims Unchanged at 505000
Nov 19th, 2009 - Bloomberg
Nov. 19 (Bloomberg) -- The number of Americans filingclaims for unemployment benefits held at a 10-month low lastweek, a sign firings are letting up as the economy recovers. Initial jobless claims were unchanged at 505,000 in theweek ended Nov...
Repsol to Invest Up to $15 Billion in Brazil by 2020
Nov 14th, 2009 - Bloomberg
Nov. 14 (Bloomberg) -- Repsol YPF SA, Spain’s largest oilcompany, plans to invest as much as $15 billion in Brazil by2020, the company said. “The company’s plan is to invest between $10 billion and$15 billion in Brazil...
Obama Administration Seeks to Fix Airline Industry
Nov 12th, 2009 - ABC News
The Obama administration is taking its first step toward trying to fix the ailing airline industry, mired in a severe economic slump and facing safety worries. Transportation...
Unions prod Obama to fix ailing airline industry
Nov 12th, 2009 - Boston
WASHINGTON—Three decades of airline deregulation have helped make air travel more accessible to consumers through lower fares. Now labor unions are questioning whether the industry is paying the price...

Economic Slump videos from YouTube:

5:12
Inside Look: Global Economic Slump
Interview with World Bank Economist Hans Timmer: Oil Prices Will Drop Below $40/barrel in Short Term; Food Prices Will Decline 23% on Average in 2009
1:38
Tex. Business Owners Worry About Economic Slump
Business owners and investors in the Lone Star state are worried about an economic downturn that could be longer and more painful than many have been predicting until now. The AP's Rich Matthews has more. (Oct 2.)
7:32
Marc FaberGlobal Economic Slump Is `Unavoidable'
10.13.08
2:43
Sports axed amid economic slump
As the economy continues its downward spiral, schools across the country are cutting sports, art and music programs. In the Mount Vernon school system, two proposed budgets failed to pass and now students are bearing the brunt ...

Economic Slump from WikiPedia:

In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for identifying a recession, one of which was "two down quarters of GDP". In time, the other rules of thumb were forgotten, and a recession is now often defined simply as a period when GDP falls (negative real economic growth) for at least two quarters. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months.