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Recession

CALIFORNIA | LOCAL
November 28, 2013 | By Patrick McGreevy
SACRAMENTO - California lawmakers are set to receive a 5.3% pay raise Monday, but a dozen say they won't accept it in the wake of a tax hike approved last November and while many residents are still struggling to recover from the recent recession. The raises were approved by the citizen panel that determines state officials' compensation. The base salary for most legislators will go from $90,526 to $95,291 - still below the $116,208 that lawmakers received in 2007, before their pay was cut during California's budget crises.
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BUSINESS
November 21, 2013 | By Ricardo Lopez
A new study indicates that adults who live through economic recessions during certain periods of adulthood may be at higher risk for cognitive decline later in life, according to results published in the Journal of Epidemiology and Community Health.  The research, based on a survey of 12,000 people in 11 European countries, found that men who experienced one or more recessions from age 45 to 49 had lower cognitive scores between the ages of...
BUSINESS
November 18, 2013 | By Don Lee
WASHINGTON - The share of Americans moving to a new home fell this year, underscoring the lingering effects of the Great Recession and a drag on the housing market. The main factor was an unexpectedly large drop in the mobility of young adults, who account for the largest moves among age groups and the bulk of starter-home purchases. The Census Bureau reported Monday that the annual domestic migration rate - the share of the nation's population that moved - declined to 11.7% after rising to 12% last year.
BUSINESS
November 15, 2013 | By Marc Lifsher
SACRAMENTO - Late payments, glitch-prone computers and swamped call centers aren't the only problems bedeviling California's unemployment insurance program. The insurance fund that pays state jobless benefits - run by the Employment Development Department - owes nearly $10 billion to the federal government. That's because the state has been paying far more in jobless benefits than it receives in employer-paid taxes, and the feds make up the difference. "The whole system is really whacked out right now and needs a fix," said Assemblyman Curt Hagman (R-Chino Hills)
BUSINESS
November 10, 2013 | By Walter Hamilton
When potential employers ask Tracy Blakeley about her personal life, she assumes they're not making idle chit chat. They're trying to figure out how old she is. "They ask if I have kids or grandkids," Blakeley, 53, said. "They won't ask you your birth date, but they'll ask when you graduated from high school. " Blakeley has a rock-solid work ethic, good computer skills and an upbeat personality. What she doesn't have is a permanent job, despite trying her hardest to find one. It's a common story for people in their 50s, 60s and even 70s. Nearly 2 million people ages 55 and older are looking for a job these days, twice as many as before the Great Recession.
WORLD
November 4, 2013 | By Laura King
CAIRO -- The trial of deposed Islamist president Mohamed Morsi opened Monday but swiftly went into recess because Morsi, confined in a defendant's cage, refused to wear a prison-issued jumpsuit as ordered by the judge, Egyptian state television reported. The former leader was flown from a secret location on Monday to a heavily fortified Cairo court complex, marking the start of his trial on charges of incitement to commit murder. Chants erupted inside the closed courtroom upon Morsi's arrival, and the judge threatened to halt the proceedings if order was not restored, the private CBC channel reported.
BUSINESS
October 23, 2013 | By Shan Li
Spain pulled out of two years of recession in the third quarter, news that should give a boost to the efforts of its prime minister to repair the nation's economy though tax increases and spending cuts. The Bank of Spain said Wednesday that gross domestic product grew 0.1% in the third quarter, compared with a 1.2% drop in the same period a year ago. The news, while positive, has been viewed skeptically by some economists who point out the Spanish economy has slipped more than once into recession in the last five years.
HEALTH
October 11, 2013 | By Mary MacVean
UCLA Health encourages a little goofing off on company time. But inefficiency is the last thing on the agenda. At least three days a week, employees from 10 departments at UCLA Health facilities gather as the music gets cranked up for a 10-minute workout. It's called Bruin Break, an adaptation of the "instant recess" initiative developed to motivate "mouse potatoes" by the late Dr. Antronette Yancey, a UCLA public health professor. One recent morning, physical therapists, administrative staff, the lift team (as in lifting patients)
NATIONAL
October 9, 2013 | By Amy Hubbard
A middle school in Port Washington, N.Y., has banned footballs, soccer balls, baseballs and lacrosse balls on its playgrounds. The students at Weber Middle School on Long Island also cannot roughhouse -- no jarring games of tag or cartwheels, unless supervised by a coach, reports the local CBS outlet. School officials said there'd been a rash of playground injuries. Nerf balls are OK. Woo-hoo. Those of us who grew up careening around without bike helmets, clambering over metal monkey bars with only concrete to break our falls and taking numerous dodgeballs to the kidneys may scoff.
BUSINESS
October 4, 2013 | By Shan Li
Wealthy Californians have bounced back from the Great Recession, according to one report. About two-thirds of Californians with assets of $1 million or more actually feel better off now than before the 2008 financial crisis, a report from BMO Private Bank said. And roughly the same portion say they expect the economy to continue its recovery in the next year. "We are seeing increased confidence in the overall California economy, and the momentum is led by high-net worth individuals and families," said Ron Gong, managing director of CTC Consulting/Harris myCFO, a part of BMO Financial Group.
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