Fed Chairman Ben Bernanke telling Congress today the Central Bank is on the verge of a recession and they are prepared to act if necessary to help the economy. Bernanke urged Congress to balance the budget without harming the economy.
Ford Adding Jobs
Ford reached an agreement with 41,000 members of the United Auto Workers. Ford says it will add 12,000 hourly jobs in its manufucaturing plants in the U.S. by 2015. But Ford adds that many of those new jobs will be entry level workers making $14/hour. That's half as much as what senior workers make. Ford IS also giving most of its UAW hourly employees a total of $9,700 in bonuses this year.
Kohl's Hiring 40,000
Kohl's says it's hiring 40,000 workers this holiday season. That's 5% more than last year. People can expect about 35 positions to be added at each Kohl's store around the country. This news follows Macy's saying it's also boosting seasonal help over last year. However, Best Buy says it will hire fewer employees than last year.