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The largest city in American history to file for bankruptcy protectionis officially bankrupt.

The bill for decades of Detroit's financial decline has now come due. A federal judge's ruling approving the largest municipal bankruptcy in U.S. history Tuesday sets the stage for an epic legal battle over who will be asked to help pick up the tab, including bond investors, retired city workers

New research illustrates ways in which the current economic difficulties of African American households are compounded even further by a legacy of discriminatory policies that have left African Americans with significantly fewer assets and lower rates of homeownership than white households.

The White House has offered “no response” to a months-old call from congressional Democrats to bypass Congress and use executive action to raise workers’ wages, the co-chair of the Congressional Progressive Caucus told Salon Tuesday afternoon.

Next November, Californians will decide whether to raise the state's minimum wage to $12 an hour -- which would be the highest level of any state and not so far from the $15 an hour goal often mentioned by labor activists.

In fact, the Volcker rule is already federal law, passed as part of the massive financial sector overall bill known as the Dodd-Frank Act, signed in 2010. But since that time, five separate regulatory agencies, including those that focus on the markets and others on the banks, have been working to

In today’s New York Times, Paul Krugman takes on the plight of low-wage retail and fast food workers, who have seen their real wages fall almost 30 percent since 1973 even as this sector has become a larger part of our economy. During a season when Americans flood the stores for holiday shopping

With millions still out of work, and slack demand seeming like an entrenched reality, getting to "full employment" sounds like an almost Utopian idea. Of course, it's not -- the U.S. economy has twice emerged from recessions in the past quarter century to achieve something close to full employment

They walked through the parking lot of the Walmart Supercenter at Oakwood Commons, handing out fliers, then continued into the store with the same message for the Black Friday bargain hunters: Walmart pays its workers too little.

Anthony Goytia, who works nights stocking shelves at a Walmart store in Duarte, Calif., says all he wants from the retailer is a living wage and a little respect. "I'm a hard worker and take pride in my work," said the 31-year-old, who as a part-time employee earns $9.60 an hour, or roughly $12,000