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Congress passed legislation late Thursday to extend the period of government assistance to Americans struggling in the shrinking job market.
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The ranks of Americans getting by on unemployment insurance are rising fast.
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The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one.
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With the prospects of an auto bailout this week all but dead, Democratic leaders said Thursday that Congress would return in December to consider extending a $25 billion lifeline for troubled U.S. automakers if the companies devise a “viable” recovery plan.
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Mortgage rates fell for the third week in a row amid reports of record-high job losses, weak retail sales and a home-construction market in a deep slump.
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The Federal Reserve announced Thursday that it will hold a two-day meeting in December to weigh its next move on interest rates and to make a fresh assessment of the economy.
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The United Auto Workers union called on Congress and the Bush administration to get a loan to U.S. automakers to prevent their collapse before the legislature adjourns Friday.
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