Word: latested
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...home, a significant impact of the European slowdown is likely to be a rise in unemployment. The number of jobless in the E.U. dropped sharply between 2005 and 2007 and then flattened out at 25-year lows. But the latest statistics from France, Ireland, the U.K. and some other countries show that the unemployment rate is starting to pick up again. The IMF, which has slashed its growth forecast for the euro-zone countries for 2009 to a negligible 0.2%, predicts that the percentage of jobless in those 15 countries will jump above 8%. Worst hit will be Spain, where...
...there are still many unanswered questions as to how the plan can restore confidence. And for consumers, the effect of the latest move will be hard to gauge, since it is designed merely to ease the sting of the coming economic recession - meaning there will still be job losses, bank closures and business failures...
...lending by and among banks - will determine how badly the real economy is hit: how many people will lose their jobs, how many businesses will close, how many banks will fail. Everyone from Paulson on down acknowledges that those numbers will rise dramatically in the coming months. But the latest plan is meant to lessen the impact. As Paulson said this morning, "Today's actions are not what we ever wanted to do, but today's actions are what we must do to restore confidence in our financial system...
Meanwhile, Obama had actually cooked up some new economic proposals, which he unveiled in Toledo, Ohio, in his unhurried way. Why hurry when the latest Washington Post/ABC News poll has you ahead by 10 points and your favorability rating on the rise? Obama didn't have to wait for anyone to hand him a baton. He just set off two years ago at a steady pace and has run his own race ever since...
...Early this year, the Vatican announced it would make the procedures to name saints more rigorous. The latest canonizations bring to 18 the number of saints named so far in Pope Benedict XVI's papacy. "For all of Catholic history, the saints have been a central part of Catholic spirituality," says James Martin, a Jesuit priest and author of My Life with the Saints. They are, he says, like "elder brothers and sisters - people who help you along...