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Stories tagged: Recession


  • Catholic Charities’ move provides ‘one-stop shopping’

    This week, Catholic Charities Spokane will move into a renovated building at the corner of Fifth Avenue and Division Street near downtown Spokane. Recently, executive director Rob McCann, 39, explained …


  • Dow climbs – albeit slightly– for second day in a row

    NEW YORK – It took some work, but investors managed to turn Wall Street’s best performance this year into a two-day advance. Stocks ended with modest gains Wednesday, but the …


  • Citigroup’s good news rallying cry

    NEW YORK – Wall Street snapped out of its stupor and posted its best performance of the year Tuesday, finding a badly needed glimmer of optimism in the most unlikely …


  • After layoff, game plan can help

    DALLAS – Finding yourself unemployed can be frightening, as too many people are learning these days. If you find yourself in that position, try to keep from panicking.


  • Reduced hours, pay cuts afflict many workers clinging to jobs

    In cubicles, factories and stores these days, anxious workers are trying to ease one another’s economic fears with something akin to, “Well, at least we still have jobs.” Yet for …


  • Turning point for economy elusive

    When will this wretched economy bottom out? The recession is already in its 15th month, making it longer than all but two downturns since World War II. For now, everything …


  • Berkshire can overcome its worst year, Buffett says

    OMAHA, Neb. – Warren Buffett remains optimistic about the prospects for his company and the nation even though Berkshire Hathaway Inc. turned in its worst performance in 2008 and the …


  • Costco should weather tough economic times

    Costco (Nasdaq: COST) reinforced what we already knew when it gave a negative second-quarter forecast recently. Things are pretty bad out there, and no retailer’s immune. The warehouse discounter disclosed …


  • Jobless claims up as demand falls

    The number of people filing for unemployment benefits shot up unexpectedly last week and is likely to keep climbing as businesses slash production in response to sinking demand. New orders …


  • Obama vows no retreat despite economic threats

    WASHINGTON – President Barack Obama offered a grim portrait of America’s plight in an address to a joint session of Congress Tuesday night, but he promised to lead an economic …


  • Bernanke tells Senate panel recovery possible next year

    WASHINGTON – The nation’s top economic policymaker Tuesday offered a sliver of optimism in a time of gloom, saying in carefully hedged comments that growth could return next year if …


  • Markets tumble to 1997 levels

    NEW YORK – Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sight dumped stocks again …


  • Teens are feeling pinch of economic slump

    BOISE – Katy Sword traded her newer Dodge Stratus and car payments for a beat-up Mazda pickup she owns outright. And still the Borah High School senior – who works …


  • Dow close is lowest since 2002

    NEW YORK – Three months after it looked like the stock market had hit rock bottom, the Dow Jones industrial average slumped Thursday to a six-year low. The Dow skidded …


  • Dow closes at 6-year low

    NEW YORK — The Dow Jones industrial average is ending at its lowest level in more than six years.


  • Mortgage plan aims to stanch home loss

    MESA, Ariz. – President Barack Obama unveiled a $75 billion foreclosure prevention program Wednesday aimed at arresting one of the root causes of the nation’s economic spiral by helping as …


  • Steep downturn felt globally

    NEW YORK – Markets around the world plunged Tuesday as evidence mounted that the global economic crisis is worsening. The downturn continued today as stock indexes in Japan, Hong Kong …


  • Recession-resistant career paths

    Sobering news on the jobs front closed 2008: Spokane County’s unemployment rate climbed to 7.6 percent, higher than the national average of 7.2 percent. And rural counties surrounding Spokane are …


  • Cable TV providers fretting over penny-pinching viewers

    PHILADELPHIA – Porter McConnell gave up on pay TV last summer after noticing that monthly rates kept creeping up. Now with no satellite or cable TV, she watches her trusty …


  • Jan Quintrall: Despite gloom , sun is starting to shine on region’s economy

    Ten years ago, when I accepted the position of CEO at the Better Business Bureau, they lied to me. Those five board members told me the weather in Spokane was …


  • Ruined financiers commit desperate acts

    In the abyss of financial ruin, faced with sure disgrace and possibly prison, some of the newly scandalized rich have taken desperate measures in these despairing times. The black hole …


  • Record numbers applying for unemployment benefits

    OLYMPIA – As the layoffs notices fly, more people are falling back on the state’s unemployment system than at any time in recent years. Some questions and answers about the …


  • Jobless benefits harder to secure

    WASHINGTON – It’s hard enough to lose a job. But for a growing proportion of U.S. workers, the troubles really set in when they apply for unemployment benefits. More than …


  • Local economic crunch may be brief

    The recession crushing many areas of the United States came late to the Inland Northwest, will leave sooner, and inflict less pain, a longtime economic observer and forecaster told a …


  • Back on the job market

    For years, Mara Greene had a plan. After years of creating ceramic mugs and selling artwork from her Soap Lake home and store, she’d sell the property and retire to …


  • Unemployment rate jumps to 7.6 percent

    WASHINGTON — Recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974, and catapulted the unemployment rate to 7.6 percent. The grim figures were further proof …


  • Unemployment claims surge

    WASHINGTON – New jobless claims jumped far more than expected last week in an already dismal labor market, and there’s no relief in sight for workers as mass layoffs persist. …


  • Inland Northwest’s four Macy’s stores included in layoffs

    Plans by retailer Macy’s to cut costs nationwide will result in some layoffs at all four stores in the Spokane and Coeur d’Alene area, a company spokesperson said Tuesday. In …


  • After the buying binge, consumers at a crossroads

    MINNEAPOLIS – For many consumers, the jig is up. After years of supersizing our houses, cars, meals and closets, Americans’ buying binge seems to be over.


  • Macy’s cutting jobs, slashing dividend

    NEW YORK – Macy’s Inc. announced Monday that it will eliminate 7,000 jobs, almost 4 percent of its work force, and cut capital spending, reduce its contributions to its employees’ …


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