recession

Citigroup said Monday it had agreed to pay $7 billion to settle a federal investigation into subprime mortgages it sold in the run-up to the financial meltdown of 2008.

The deal covers mortgage-backed securities and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008, the company said in a statement on its website.

Tyler Cowen's book "Average is Over."

Here in the Puget Sound region and across the country, the economy is making slow and steady progress in recovering from the Great Recession of 2008. But moving forward, many questions still remain. A crucial one involves the growing inequality gap. Economist Tyler Cowen says the U.S. will return to historic levels of inequality and in turn, we'll see a thinning out of the middle class.

His latest book is called “Average Is Over: Powering America Beyond The Age Of The Great Stagnation.” Cowen talked with Marcie Sillman.

Flickr Photo/clappstar (CC-BY-NC-ND)

Construction is now the fastest-growing industry in Washington state. Construction cranes fill the skyline. Public works projects like light rail lines and the tunnel project snarl our streets. But despite appearances, construction has not yet fully recovered from the 2008 recession.

Flickr Photo/World Bank Photo Collection

The biotech industry took a big hit during the recession, and it can still be difficult in this area to find and keep work in that field. But for those looking to enter the industry there are a few things you should keep in mind. Luke Timmerman, the national biotech editor at Xconomy, an online business and technology blog, explains what you should consider before taking a job in biotech and the challenges of the industry.

KUOW Photo/Jake Warga

Welding torches have sizzled at the Vigor Industrial shipyard on Seattle’s Harbor Island for a century. But the men and women behind the welding masks in this particular warehouse have only been at it for two weeks. The demand for skilled welders is so high that the shipyard and the state are now paying to teach the skill to displaced workers.

Flickr Photo/Daniel Spils

If you’re on the hunt for an affordable apartment in Seattle, Bellevue or Tacoma – good luck. Rents in these urban areas continue to climb higher while people’s earnings remain stagnant, according to a new annual census report released Thursday.

karenducey.com/Karen Ducey

Nursing schools around the country have seen a jump in enrollment in the last few years. Many students were hoping to get in on what was supposed to be a recession-proof field: the growing health care sector. Instead, new graduates faced a tough market.

Put Your Money Where Your Mouth Is: The Conversation Talks Economics

Aug 21, 2013
Paul Krugman
Center for American Progress

We discuss the economy a lot on The Conversation. From the effects of the recession to financial planning, money is always in the news. Today, we rebroadcast some of our best interviews with economists and financial reporters, including a talk with Paul Krugman in front of a live studio audience.

DONNELLY, Idaho - The real estate crash triggered some big bankruptcies in the Northwest, but few are as spectacular and convoluted as the foreclosure of the unfinished Tamarack Resort in western Idaho. What was supposed to be the Northwest's newest destination resort remains in extended legal limbo, but plucky homeowners are keeping it alive until a new buyer arrives.