NEW YORK - Some comforting news for recent college graduates facing a tough job market and years of student loan payments: That college degree is still worth it.
Although the labor market has made strides in recovery since last spring, experts warn that many recent college graduates still face a dim outlook when looking for a job after graduation.
The national student loan debt surpassed $1 trillion last year and is a cause of concern for both students and economists.
Americans cut back on using their credit cards in August for a third straight month, a sign that consumers remain cautious about spending.
WASHINGTON - Americans borrowed more in June to buy cars and attend schools. But they were frugal again with their credit cards, as many remain wary of taking on high-interest debt.
Americans increased their borrowing in May at the fastest pace in a year. Borrowing in the category that includes credit cards reached its highest point since the fall of 2010.
The Federal Reserve Bank of New York has turned down an offer by American International Group to repurchase dodgy mortgage bonds that the Fed had taken off the insurance company's hands during the financial crisis.
WASHINGTON --- The Federal Reserve is confident in the economy and about to end a $600 billion program to support it. Now for the next step -- figuring out how to keep inflation from taking off.
Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality, mortgage-backed securities that went sour when the housing market collapsed.
ATLANTA --- Shipping giant UPS Inc. will cut 1,800 management and administrative jobs, less than 1 percent of its global work force, as it repositions itself for a gradual economic recovery.