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...According to Klinefelter's research, teens are making fewer trips to the store; teen spending on fashion products fell 13% this spring. Only 35% of the teens Piper Jaffray surveyed had part-time work this spring, compared with 50% four years ago. "Teens definitely have much greater awareness of what's going on around them now than they did eight years ago," says Klinefelter. "They're seeing the news on their computers and cell phones, and are very aware that we're in a recession." (See the top 10 business deals...
...year-olds is nearly 23%; that's more than double the 9.2% national unemployment rate and the highest it's been since 1992. Why the steep rise? For starters, there's this little thing called the recession. But concern about youth employment also pretty much fell off the federal radar in recent years. Back when President Lyndon Johnson launched the War on Poverty in 1965, the Federal Government started funding summer-jobs programs for low-income youth. These efforts included the Neighborhood Youth Corps, the Comprehensive Employment and Training Act and the Job Training Partnership Act. In 1999, however, federal...
...down sharply on June 15. At the day's close, the Standard & Poor's 500 Index was off 2.4%, with the steepest drops suffered by major banks and commodity producers. Bank of America, the most actively traded stock during the day, saw its price shed nearly 2.8%. The Dow fell 2.1% to close...
...commodity markets, which sold off broadly on June 15. China is believed to be stockpiling a range of raw materials, notably copper, which has driven prices dramatically higher in recent months. But ubiquitous weakness in global demand is now taking a toll. The Reuters-Jeffries CRB commodity index fell 2.25% during the day. Gold prices dipped slightly, down $11 per ounce, but stocks of precious-metals companies were hammered, declining more than 7% on average...
...Acer's lowball strategy is not without trade-offs. Despite market-share gains, revenues in the first quarter fell 6.5% from a year earlier to $3.5 billion, while operating income sank 6.1% to $75.8 million. (Wang still expects Acer to match or slightly exceed its 2008 operating profits in 2009.) Bryan Ma, a computer-industry analyst at IDC in Singapore, says Acer risks tarnishing its brand in the long run. But during the recession, Ma says, Acer's product mix will help it outperform. "They're in the right place at the right time," he says...