Economy, Recession | featured news

On the day that the Great Recession was officially declared to be part of history, President Obama confronted deepening angst from business leaders and ordinary Americans who have little faith that the recovery is for real.

The longest U.S. recession since the Great Depression ended in June 2009, lasting 18 months, the National Bureau of Economic Research said.

The recession and how to turn around California's sky-high jobless rate loomed large Wednesday as Sen. Barbara Boxer and GOP challenger Carly Fiorina hold their first debate.

Second-quarter economic growth was revised to an anemic 1.6%, a decline that was slightly less than many economists had predicted. But the report was a sobering cap to a week of bad economic news that has raised fears the nation could plunge into another recession.

Buying activity in the residential real estate market slowed dramatically in July, according to a report released Tuesday by the National Association of Realtors. The dramatic plunge is yet another sign the U.S. economy may be heading toward a slowdown or double-dip recession.

Renewed fears of a so-called “double-dip” recession are weighing on investors, spooking consumers and slowing businesses from hiring.

Already grappling with a surge in claims for unemployment insurance, recession-weary state labor departments are also now dealing with increased fraud.

As the economy shows troubling signs of another slowdown, some economists are beginning to worry about the possibility of a "double-dip" recession.

In a recession, state lawmakers are taxing personal vices. It’s good for you, they say, but it’s really better for their budgets.

The committee of academic economists that dates the beginning and end of recessions said it isn't ready to put an end date on the recession that began in December 2007.