Sequester

WASHINGTON -- The number of Americans filing new claims for unemployment benefits jumped last week at the fastest pace in six months, a worrisome sign for the economy which has been hit by government austerity. Initial claims for state unemployment benefits jumped by 32,000 to a seasonally adjusted 360,000, the ...

By Elizabeth Dilts NEW YORK -- The U.S. government's effort at cutting spending across the board is hurting a population once considered among the most financially stable -- dual income families where both partners are government employees. Starting on Monday, employees at agencies such as the Federal ...

The number of planned layoffs at U.S. firms fell in March but downsizing by retail companies still helped the first quarter rack up the largest amount of cuts in over a year, a report showed on Thursday. Employers announced 49,255 planned job cuts last month, down 11% from 55,356 in February, according to the ...

By Jennifer Liberto The first furlough notices for government employees have gone out. The Army sent letters on Feb. 28 and March 1 to unions warning that employees at the Aberdeen Proving Ground in Gunpowder, Md., as well as the Corps of Engineers in Walla Walla, Wash., will be forced to stay at home ...

The new normal in American politics seems to be the unending fiscal crisis. First the debt ceiling was threatening job growth, then it was the fiscal cliff, and now it's sequestration. On March 1, $1.2 trillion in spending will be cut automatically over 10 years -- from across the federal government, in both ...