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Stocks pull out of slump but end week lower
A battered stock market recovered from a sharp drop in late trading Friday but still posted its fourth straight weekly drop. The Dow Jones industrials, down nearly 170 points in afternoon trading, clawed their way back to finish with a gain of 10. But more stocks fell than rose on the New York Stock Exchange
Goldman CEO Blankfein gets $9M stock bonus for 09
Goldman Sachs Group Inc. CEO Lloyd Blankfein is getting a $9 million stock bonus for 2009, a modest payday by Wall Street standards that appears aimed at quelling criticism of the bank’s compensation practices. Blankfein will receive more than 58,000 shares of restricted stock that can’t be cashed in for five years, the bank said
Drop in jobless rate points to modest improvement
Published on 6 Feb, 2010 at 2:10 in Finance | Viewed 799 times | No Comments
The job market is lurching toward improvement. It just has a long way to go. The outlook for jobs became a bit less bleak Friday when the government released January’s unemployment rate showing an unexpected decline from 10 percent to 9.7 percent. It was the first drop in seven months. Still, the government now estimates
What a 9.7 percent unemployment rate means
Despite economists’ expectations that the unemployment rate would climb well into the economic recovery, the percentage of unemployed, job-seeking Americans fell 0.3 percentage point in January to 9.7 percent, its lowest point since August. The unemployment rate is calculated through a separate survey from the payroll count, which found the nation’s employers still reluctant to
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