Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

The U.S. unemployment rate has been falling steadily over the years. Down from the recession peak of 10 percent in 2009, it reached 5.9 percent in September.

That's getting close to what economists call the natural unemployment rate — the normal level of joblessness you'd expect in a healthy economy.

But a lot of economists are asking whether the old rules about full employment still apply.

It was another stomach-churning day on Wall Street. At one point, the Dow industrials were down 460 points — a huge drop that followed four consecutive days of stock market losses.

The decline more than wiped out the year's gains. But then late in the trading day, tocks started to recover. And by the close, the Dow's loss was a little more than 1 percent.

Investors are worried about a global economic slowdown, the Federal Reserve's next move and even the Ebola virus.

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Burger King is buying Tim Hortons, the Canadian coffee-and-donut chain, in a deal valued at $11 billion. The new company will be headquartered in Ontario, Canada, allowing Burger King to take advantage of Canada's lower corporate tax rate. The relocation is bound to cause controversy in the U.S.

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The legal battle between Argentina and its creditors grinds on with no sign of a resolution anytime soon. The dispute pits the government against two New York hedge funds that specialize in buying distressed debt.

These hedge funds bought Argentina's bonds at fire-sale prices and now stand to make huge profits off the country's financial troubles. But they've encountered a lot of resistance from the government.

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Both the United States and Europe announced new economic sanctions this week against Russia for its role in the conflict in Ukraine. Among other things, Western companies will no longer be able to sell Russia new technologies to develop its oil fields.

The move comes at a time when oil exports have become more important than ever for the Russian economy.

President Obama says the sanctions are meant to send a strong message:

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