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Linda Young – AHN News Writer
Washington, DC, United States (AHN) – The national unemployment rate for the month of July remained little unchanged at 9.1 while total nonfarm payroll employment rose by a modest 117,000, according to the monthly report by the U.S. Bureau of Labor Statistics. Although the 117,000 jobs created during July was slightly better than anticipated, it was still not enough to keep up with growth in the number of working-age Americans, let alone make a dent in the unemployment figures. Economists say the nation must create from 120,000 to 200,000 jobs monthly to keep [...] Continue Reading…

A recent study has shown checking accounts to be rather costly. In fact the study shows they are more costly than they should be. Pew Health Group looked at hidden entities in checking accounts in order to develop a case for save and clear checking account information. They found the following:
• There is a penalty of $35 for overdrafts
• Monthly fee of $8.95
• There is a transfer fee of $10 for overdrafts
• Extended penalty for overdraft of $25 after each 7th day. This [...] Continue Reading…

Linda Young – AHN News Writer
Washington, DC, United States (AHN) – Sales of existing homes decreased by 0.8 percent in June compared to sales a month earlier, falling to a seven-month low. An increase in contract cancelations fueled part of the drop in sales. Analysts say the increase in cancelations reveals that buyers are changing their minds about buying a home in this time of growing national economic uncertainty. However, many of the buyers changed their mind after appraisals of the property revealed it was worth less than the contract price they had offered. In addition, [...] Continue Reading…

Linda Young – AHN News Writer
Brussels, Belgium (AHN) – Solving the Greek sovereign debt crisis is essential or the other member states of the Eurozone will feel the negative consequences, warned the European Commission president. Eurozone leaders are meeting in Brussels, Belgium this week to discuss the Greek crisis. Despite the urgency of the matter, Eurozone leaders remain divided on how to address the problem. German Chancellor Angela Merkel says her nation wants private investors to help with any package of aid by rolling over loans they have already made to Greece, thereby extending the due [...] Continue Reading…

A recent study has shown checking accounts to be rather costly. In fact the study shows they are more costly than they should be. Pew Health Group looked at hidden entities in checking accounts in order to develop a case for save and clear checking account information. They found the following:
• There is a penalty of $35 for overdrafts
• Monthly fee of $8.95
• There is a transfer fee of $10 for overdrafts
• Extended penalty for overdraft of $25 after each 7th day. This [...] Continue Reading…

Linda Young – AHN News Writer
Washington, D.C., United States (AHN) – Initial jobless claims remained above the 400,000 mark again for the week ending July 2, although they dropped slightly from the prior week. Seasonally adjusted first time claims for unemployment compensation insurance benefits were filed by 418,000 people, which was a decrease of 14,000 from the previous week’s revised figure of 432,000, the United States Department of Labor said. The less volatile 4-week moving average also remained high at 424,750, but that was a decrease of 3,000 from the previous week’s revised average of 427,750. [...] Continue Reading…

John Raffel – AHN Sports Correspondent
Detroit, MI, United States (AHN Sports) – The San Francisco Giants feasted on Detroit pitching Saturday night in cruising past the Tigers. Home run power, including a grand slam from Miguel Tejada, ignited the Giants to a 15-3 win over the Detroit Tigers at Comerica Park. The 15 runs marked a season high for the Giants, who have not suffered a loss this season of a game in which they had a lead of three runs or more. The Giants were leading 6-0 in the third inning when the game was [...] Continue Reading…

Linda Young – AHN News Writer
Washington, DC, United States (AHN) – Initial jobless claims for the week ending June 25 decreased by 1,000 from the previous rate but still remained above the 400,000 mark for the 12th consecutive week, according to the United States Department of Labor. Some 428,000 newly jobless workers filed first time claims for unemployment compensation insurance payments during the week ending June 25, down from 429,000. Economists say that initial jobless claims have to drop below 400,000 weekly and stay there before the economy sees recovery in the jobs sector of the economy [...] Continue Reading…

Debt has become an unfortunate standard in American households. In fact, the average American household has over $10,000 in credit card debt and the average interest rate runs in the high teens. Most Americans are worried about debt reduction but do not know how to start the process. One thing to keep in mind is that there is good and bad debt. Good debt is the debt that you take on for a home or college as long as you are borrowing at a rate that you can afford to pay back. Unfortunately, the mortgage meltdown has taught us [...] Continue Reading…

Ayinde O. Chase – AHN News Staff
Yonkers, NY, United States (AHN) – The saying “the rich get richer and the poor get poorer,” is seemingly true based on a two-year study of the groups. For American households earning less than $50,000 per year, it has been far more difficult on the economic road to recovery than their more affluent counterparts. For more affluent households, those earning $100,000 or more, economic recovery began as far back as February 2010—when the Consumer Reports Sentiment Index score for this group moved into positive territory (above 50). In that time, sentiment among [...] Continue Reading…