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This is the VOA Special English Economics Report.

American children and teenagers have increased their use of entertainment media by more than one hour a day in the last five years. On an average day they now spend seven and a half hours using media.

These are the findings of a new survey. It included devices like TVs, computers, mobile phones and MP3 players, but also media like books and magazines. It did not count media use for school.

Vicky Rideout at the Kaiser Family Foundation, a health research group, wrote the report. She was surprised that kids could fit even more media time into their day.

She found that they spent ten hours and forty-five minutes if you counted each device individually. But children multi-task a lot, and Vicky Rideout says this is not necessarily a good thing.

VICKY RIDEOUT: "People who study the brain will tell you that you can't actually multi-task in that way. You're really switching back and forth sequentially from different tasks, just doing it rapidly, and that you don't really do either task as well as you would do them if you did them one at a time."

The study suggests a link between heavy media use and lower performance in school. About one-fourth of those who used media the least reported that their grades were mostly average or below. But that was true of half the heavy media users.

So where are the parents? Children who had any rule limiting the use of any kind of media were exposed to an average of about three hours less media a day. But only one-third of children had to follow any rules.

Girls spent more time than boys on social networking sites, listening to music and reading. Boys spent more time on video games -- an average of forty-eight minutes more a day than girls.

VICKY RIDEOUT: "It looks like the girls just sort of lose interest in the games and they drop off and start doing other things, whereas the boys' interest remains strong."

Some other findings: Time spent reading books has not dropped in the last five years. But time with newspapers and magazines has, though some reading now takes place online.

Blacks and Hispanics use media over four hours more a day than other groups. And for all children, media use appears to reach its highest point between the ages of eleven and fourteen. Vicky Rideout will try to explain these findings in future research.

The report is based on more than two thousand students ages eight to eighteen. They took a written survey in class through May of last year.

And that's the VOA Special English Economics Report, written by Mario Ritter. How much media use do you think is enough for children? Post your comments at voaspecialenglish.com, and you can find transcripts and captioned videos of our reports. I'm Mario Ritter.

Learning English MP3

This is the VOA Special English Economics Report.

China says it has passed Germany and become the world's top exporter. Exports totaled more than one trillion dollars last year. That was down from two thousand eight, but about thirty billion more than Germany.

China's influence in the world has increased with its fast-growing economy. The United States remains the largest economy. China is third and gaining on Japan.

A Chinese flag waves beside Google headquarters in Beijing

And now there is a new dispute. China is the world's largest Internet market, but Google says it may leave. The company said it was targeted last month by a major Internet attack launched from China.

It says "intellectual property" was stolen and the attackers sought access to Gmail accounts of Chinese human rights activists. At least twenty other large companies in different industries were also targeted.

Also, the company said it is no longer willing to censor search results as required by Chinese law. Google says it is still observing censorship laws, but it will hold talks with the government in the coming weeks.

Google.cn launched four years ago this month. Google is estimated to have around a thirty percent share of the search market in China. But that is only about half the share of the Chinese search engine Baidu. Baidu also reported an attack on its Web site earlier this week.

Online advertising sales in China are estimated to bring Google only a few hundred million dollars a year. Not much for such a big company, notes business expert Fariborz Ghadar at Penn State University.

FARIBORZ GHADAR: "Google has to make a decision whether they want to basically deviate from their vision mission statement that they 'do no harm' and stay in China. Or whether they have just had enough and they don't like the restrictions, and they don't like the cyber attacks, and they're going to move out so as to preserve their name and brand."

Online activity in China is closely watched and the government tries to limit access to many sites, including VOA.

On Thursday a Foreign Ministry spokeswoman said "China's Internet is open" and that Chinese law bars cyber attacks. Another government official said China itself is the victim of a growing number of foreign attacks.

Secretary of State Hillary Clinton said she would like an explanation from the Chinese about Google's accusations. She is giving a speech next week about Internet freedom.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

Learning English MP3

Welcome to AMERICAN MOSAIC in VOA Special English.

(MUSIC)

I'm Doug Johnson.

This week on our program we listen to music from superstar Whitney Houston ...

And answer a question about the Old Believers religious group ...

But first, we meet a new ambassador in Washington who wants to spread the message that reading is fun.

(MUSIC)

Katherine Paterson

HOST:

If you are over the age of thirty you may not have heard of Katherine Paterson. But if you are under that age chances are good that you have. In fact, you might have read one of her many award-winning books. Or maybe you saw the movie version of her book, "Bridge to Terabithia." Now, the United States government has awarded Katherine Paterson a new job. Mario Ritter has more.

MARIO RITTER:

Katherine Paterson

She is only the second person to hold the position. She replaces writer Jon Scieszka, who had served since two thousand eight.

The librarian of Congress, James Billington, said Miz Paterson "represents the finest in literature for young people." He spoke of national as well as international praise for her writing. Mister Billington said she would speak to the importance of reading in the lives of America's young people.

Miz Paterson has written more than thirty books. She is among only five writers to have won two Newbery Medals. These are among the most important children's book awards in the United States. "Bridge to Terabithia" won a Newbery Medal in nineteen seventy-seven. Her book "Jacob Have I Loved" won the award in nineteen eighty-one.

Katherine Paterson's books for children are often quite complex. "Bridge to Terabithia" includes adult themes like depression and death. The book has caused debate because of its place on school library bookshelves. Some parents think it is too adult for young children. Miz Paterson says the idea for the book came from a real life experience. Her son's best friend died in nineteen seventy-four when she was struck by lightning.

Katherine Paterson is seventy-seven. She began writing as a young mother with three children. But she says her interest in writing came as a surprise. As a child she had thought about becoming a Christian religious worker in foreign countries like her parents were.

Katherine Paterson spoke to a gathering of children when she was named ambassador on January fifth in Washington. She said: "Read for your life. Read for your life as a member of a family, as a part of a community, as a citizen of this country and a citizen of the world."

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Old Believers

HOST:

Our question this week comes from Russia. Aleksey wants to know about the Russian community of Old Believers in the American state of Oregon.

Old Believers is the name used to describe millions of people who rejected reforms to the Russian Orthodox Church in the sixteen hundreds. Old Believers who chose not to accept the reforms were often mistreated or killed. Over time, millions fled Russia. Many fled to Asia, Australia, South America and Europe. Many others came to the United States.

A photograph by Joanne Mulcahy of a girl belonging to the Old Believers community in Oregon

Many continue to follow their old traditions and customs. Women wear coverings on their heads and long dresses, tied at the waist. Men are not permitted to shave the hair from their faces.

Old Believers follow special rules governing what they can and cannot eat on different days of the year. For example, they may not be permitted to eat things like dairy products, meat, fish or eggs, or drink alcohol. They also cannot eat off of the same dish that a non-believer has eaten off of. Because of this, many eat at fast food restaurants that serve food in containers that can be thrown away.

Old Believers observe forty religious holidays each year. On these days they are not permitted to go to work or attend school. In Oregon many Old Believers have their own businesses or farms. But a growing number of them work in jobs in the city, especially at furniture factories and sewing companies.

Many Old Believers live in small, private and somewhat closed communities. But the modern world is having an effect. Modern technology is entering their communities.

Many Old Believers watch television and drive cars. And many, especially the young, are reportedly having a harder time trying to hold on to their spiritual and cultural traditions.

(MUSIC)

Whitney Houston

HOST:

Whitney Houston's recent album "I Look to You" marked her long awaited return to the music industry. It opened at the number one position in the United States and Canada. It also appeared in top positions in Australia and five European countries. Now the superstar is preparing for a world concert tour. Here is Shirley Griffith with more about Whitney Houston and songs from her album "I Look to You."

SHIRLEY GRIFFITH:

Music fans around the world are excited about the launch of Whitney Houston's world concert tour. It is to begin in Tokyo, Japan in February. This is her first international concert tour in nearly ten years. Serious personal problems interfered with Houston's award- winning singing career during the past ten years. She abused illegal drugs and had a troubled marriage to singer Bobby Brown. Whitney Houston regained control of her life after being treated at a substance abuse center in California for almost one year.

Also, she ended her marriage to Bobby Brown in two thousand seven. That same year, Whitney Houston joined with her longtime friend and major record company executive Clive Davis to begin recording her album. Here is the title song from "I Look to You."

(MUSIC)

In November, Whitney Houston received the International Artist Award at the two thousand nine American Music Awards. The award has been given only seven times in the thirty-six year history of the awards. After receiving the honor, Houston thanked her family and supporters for believing in her. She also performed this song, "I Didn't Know My Own Strength."

(MUSIC)

We leave you with another hit song by Whitney Houston from her album "I Look to You." She wrote this dance song, "Million Dollar Bill," with singer-songwriter Alicia Keys.

(MUSIC)

HOST:

I'm Doug Johnson. Our program was written by June Simms, Lawan Davis and Caty Weaver, who was also the producer. For transcripts, MP3s and podcasts of our programs, go to voaspecialenglish.com. You can also post comments.

Do you have a question about people, places or things in America? Send it to mosaic@voanews.com and we may answer it on this show.

Join us again next week for AMERICAN MOSAIC, VOA's radio magazine in Special English.

Learning English MP3

This is the VOA Special English Education Report.

Two-year colleges in the United States are also known as community colleges. Students earn an associate degree. Or they can train for a job for a year or two and get a certificate.

Community colleges are less costly than other schools. Some international students can even get a year of education for free. The United States government and the colleges pay the costs in a program called the Community College Initiative.

Six countries took part during the first two years: Brazil, Egypt, Indonesia, Pakistan, South Africa and Turkey. Now those countries are joined by Cuba, Ghana and most of Central America. Local Fulbright committees generally nominate the students.

Davidson County Community College in Lexington, North Carolina, is a member of the Community Colleges for International Development

The program began two years ago with eighty-four students and six colleges. State Department officials say more than five hundred students will attend thirty-seven community colleges this fall.

Where students are placed depends on what they want to study. The program is also a chance to learn about America and its people. And it gives colleges a way to expand their diversity. The students live in dormitories or apartments or with local families.

Carol Stax-Brown is an administrator of the program for a group called Community Colleges for International Development. She says they look for people who have had some work experience, speak some English and want to experience another culture. The program includes English classes in the summer before school starts for those who need them.

Carol Stax-Brown says colleges in some countries might accept credits from the program. But this is not a way to immediately transfer to four-year colleges and universities in other countries, including the United States. Students cannot return to the United States for two years after they finish their year of study.

A Web page is being developed for information on the Community College Initiative. For now, students from countries in the program should contact their local Fulbright committee or United States embassy.

And that's the VOA Special English Education Report, written by Nancy Steinbach. Earlier reports in our Foreign Student Series are at voaspecialenglish.com. I'm Steve Ember.

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This is the VOA Special English Education Report.

We continue now with our discussion of personal finance for students.

A study in the United States found that eighty-four percent of undergraduates last year had at least one credit card. Half had four or more. Borrowers who do not pay their card debt in full each month have to pay interest on whatever balance remains.

Brea Thompson, a student at Washington State University, with a credit card in 2005

More than three-fourths had to pay finance charges last year because they carried a balance. The average balance was more than three thousand dollars.

Last Friday, President Obama signed into law a credit card reform bill. It includes protections for people under the age of twenty-one. To get a credit card, they will need a parent or other adult over twenty-one to accept joint responsibility. Or they will need to show they can repay their debts independently.

Colleges will have to make public any agreements with credit card marketers. And credit card companies may not offer gifts on or near a campus to persuade students.

Also, schools are urged to consider limiting the number of places on campus where companies can market credit cards. And they are urged to offer credit card and debt education and counseling sessions to all new students.

The new measures from Congress take effect in February.

Getting a credit card can already be difficult for international students. College advisers say those who want one might consider arriving with one from home.

Debit cards withdraw money directly from a bank account. But advisers say these can also be difficult sometimes for foreign students to get.

A good source of advice about local banking is a school's international student office. At Penn State, for example, adviser Pat Coleman says they have worked with local banks to make banking easier for international students.

Students are generally advised to budget around one to two thousand dollars for expenses for a school year in the United States.

And that's the VOA Special English Education Report, written by Nancy Steinbach. Our Foreign Student Series is online at voaspecialenglish.com. A correction: George Mason University is advising the American University of Ras Al-Khaimah, not in Dubai as we said recently. I'm Steve Ember.

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This is the VOA Special English Economics Report.

President Obama is proposing rules to limit the size of banks and the risks they can take. He wants to prevent banks from using government-insured deposits to make risky investments. He also wants to keep them from owning hedge funds or private equity funds.

Banks took big losses as they traded mortgage-related securities that went bad. That helped create the financial crisis.

Bank shares fell after the president's announcement Thursday. His earlier efforts at financial reform have faced strong opposition from financial companies and some members of Congress.

Scott Brown, a Republican state senator, celebrates in Boston after a special election for U.S. senator from Massachusetts. He won the remaining three years in the term of Ted Kennedy, a Democrat who had held his seat for almost 50 years.

Scott Brown opposes the health care legislation in Congress. His election could also affect other areas, like climate change legislation and reforms in the financial system.

And at the same time a separate development could affect elections around the country. The United States Supreme Court has cleared the way for businesses to spend more in political campaigns. The ruling is expected to apply to labor unions as well.

The court decided Thursday to ease campaign finance restrictions that were in place for many years. The vote was five to four. The decision overturned rulings that barred corporations from using their own money to pay for campaign ads for or against candidates. The conservative majority on the court said the restrictions on political speech violate the free speech guarantee in the Constitution.

President Obama called it a "major victory" for powerful interests like big oil companies, Wall Street banks and health insurance companies. He directed his administration to talk with congressional leaders from both parties to develop a "forceful response."

Elections for Congress are this November. The next presidential election is in two thousand twelve.

Wednesday marked Barack Obama's first anniversary in office. But the Republican victory in liberal Massachusetts was seen in large part as a sign of voter anger across the country about the economy.

Unemployment has doubled in two years to ten percent. Many people are angry that they struggle while the government rescued big banks. Some banks took losses last year but others earned record profits.

And that's the VOA Special English Economics Report. I'm Mario Ritter.

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This is the VOA Special English Economics Report.

This year's Consumer Electronics Show opened Thursday in Las Vegas. The event is the world's biggest technology trade show.

More than three hundred companies are presenting more than twenty thousand new products. The goal is to build excitement, make deals -- and hopefully get good reviews in the media. Industry sales dropped eight percent last year during the recession.

Gary Shapiro, president of the Consumer Electronics Association, predicted that one area of strong sales this year will be mobile phones. That includes fifty-two million smartphones expected to be sold in the United States. Smartphones run applications and access the Internet.

Google is launching the Nexus One -- which it calls a "superphone." This is its first attempt to sell its own device. The Nexus One will compete with Apple's popular iPhone.

Apple is reportedly about to introduce a new digital tablet. Tablets are easy-to-hold screens that let you read and watch media or search the Web. An example is the Amazon Kindle. Like netbooks, tablets cost less than traditional laptop computers. But that can also mean smaller profits for manufacturers and sellers.

A 3-D movie is shown at the Consumer Electronics Show in Las Vegas, Nevada

The Consumer Electronics Show has an area for companies to demonstrate products that save energy, reduce waste and use recycled materials. Show spokeswoman Jennifer Bemisderfer says the Sustainable Planet Tech Zone is four times bigger than last year.

She says manufacturers are increasingly interested in the idea of "cradle-to-cradle" technology. That involves thinking about a product's whole lifetime.

JENNIFER BEMISDERFER: "When those products are at the end of their useful life, how are they going to be broken down? How are we going to get some of the essential elements out of those products and have them reused in the manufacturing process?"

Interest is also growing in energy management systems for the home -- and safe driving technologies for the car. These include voice-activated systems that let drivers make calls and send text messages without using their hands. Other products warn drivers if they are falling asleep or in danger of an accident.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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This is the VOA Special English Economics Report.

Two thousand nine may be remembered as the year the world avoided an economic depression.

In the United States, stock prices sank to their lowest levels in March. But stocks recovered strongly for the year. The S & P Five Hundred index gained over twenty percent--its largest increase in six years.

Treasury Secretary Timothy Geithner tells Congress in December that he is extending the TARP to October 2010

In June, the Treasury permitted the ten largest banks to return their rescue money and withdraw from TARP. This let banks escape government restrictions on pay for top officials. Now, the government holds a large ownership share in only one big bank, Citigroup. The Treasury says it expects banks to repay one hundred seventy-five billion dollars of TARP money this year.

A Ford dealer advertises the government's so called "cash for clunkers" program to lift sales

The Ford Motor Company refused government aid and is working to become profitable again by two thousand eleven. And there are signs that the industry is starting to recover.

However, the housing market continued to suffer its worst downturn in generations. Mortgage financer Fannie Mae reports that payments on five percent of its single-family home loans are late. The ten percent unemployment rate has meant that many people are struggling with their house payments.

Still, consumer confidence grew in December. Experts say Americans were feeling better about the job market and the economy. Growth in the United States is expected to reach about two and a half percent in two thousand ten.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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This is the VOA Special English Economics Report.

(MUSIC)

There is a place where Christmas lives all year long. It is called Bronner's CHRISTmas Wonderland in Frankenmuth, Michigan. The family-owned business calls itself the world's largest Christmas store. The late Wally Bronner started the business in nineteen forty-five.

Wayne Bronner, Wally's son, is president and chief executive of what is now a multi-million dollar corporation. He learned the business from an early age. Some of his best memories are traveling to other countries with his father to find new products for the store.

Goods for sale at Bronner's

Michigan has the nation's highest unemployment rate. Bronner's has been affected by the recession, too. But not in reduced sales.

WAYNE BRONNER: "Even though people are spending less, we're having more people visit here. And as a result we've actually had a sales increase."

Bronner's success is also linked to community cooperation and investment. Frankenmuth is a town of five thousand people in eastern Michigan's farm country. The town was settled by Bavarian Germans in the eighteen hundreds. It has kept its traditions alive in buildings and restaurants.

Bavarian cultural themes and Bronner's huge store bring three million visitors a year. The town is the most popular place for tourists in the state.

Bronner's business is aimed at a single day of the year. But that is not too different from other businesses.

WAYNE BRONNER: "About half of our business is done in the last quarter of the year, in the last three months. And actually when you contrast that with most retailers, that follows the same pattern."

Wayne Bronner says the family's long-term planning and willingness to reinvest profits has grown the company into what it is today. Still, it does not hurt to build a business on a holiday celebrated worldwide. Currently, about two percent of sales are overseas. But Wayne Bronner sees room for growth, especially through the Internet.

(MUSIC)

And that's the VOA Special English Economics Report written by Mario Ritter. I'm Steve Ember.

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This is the VOA Special English Economics Report.

Dubai's recent debt problems have brought attention to the growth of Islamic finance. A government-owned group of companies, Dubai World, has been seeking to restructure twenty-six billion dollars of debt. About six billion of it is in Islamic bonds, including a three and a half billion dollar bond set for repayment on Monday.

Instead of interest, lenders charge fees. Ghiyath Nakshbendi at American University in Washington is an expert on Islamic financing.

GHIYATH NAKSHBENDI: "The bank will estimate its costs based on its fixed costs, variable costs, the cost of their employees, the rent and so on and so forth. And from that they estimate how much they are going to charge."

But he points out that this system can make Islamic financing costly. The costs of the system are shared by the borrowers. The fewer the borrowers, the more each has to pay.

In many cases, Islamic financing requires the lender and borrower to share profits and losses. Ghiyath Nakshbendi explains what that means with Islamic bonds, called sukuk.

GHIYATH NAKSHBENDI: "When we talk about sukuk, we don't guarantee a certain return."

He says the bondholders are buying a share of a business or property. If business is good, then they could get back more than they expected. But if it fails, then there is no guarantee of repayment. Islamic bonds can be structured in different ways, but a major idea is shared profit and loss.

Professor Nakshbendi says Islamic lending practices are also supposed to be socially responsible.

In world banking, the total share of Islamic finance is less than one percent. But it is growing at a rate of fifteen to twenty percent a year. There is growing interest in Islamic banking in the West. London is becoming a center of Islamic finance. And France recently proposed changes in finance laws to protect Islamic bondholders.

Estimates differ, but as much as one and a half trillion dollars may be managed under Islamic rules.

Last year, the International Monetary Fund studied the financial security of Islamic banks. It found that their lack of complex products like futures and derivatives limits the ability to spread risk.

Professor Nakshbendi notes that Islamic finance does not appeal only to Muslims.

GHIYATH NAKSHENDI: "In Malaysia, the majority of customers in Islamic banks are non-Muslims."

And that's the VOA Special English Economics Report, written by Mario Ritter. Our reports are online at voaspecialenglish.com. I'm Steve Ember.

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This is the VOA Special English Economics Report.

In recent years, a shining city grew in the desert of Dubai on -- and even off -- the Gulf coast. An island shaped like a palm tree was built for hotels, homes and entertainment.

In October of last year the same developer announced plans for the world's tallest building yet. But the economic downturn soon forced the Nakheel company to suspend those plans.

Now Dubai finds itself in financial pain. And its reaction has some investors worried.

Last week, Dubai's largest investment company called for a six-month delay in paying some of its debts. Dubai World Group is seeking to renegotiate terms on twenty-six billion dollars in debt. All of it is linked to Nakheel, which is part of Dubai World.

The government owns Dubai World and will take control of its restructuring. But Dubai's finance chief said the government does not guarantee its debt.

Dubai World owes creditors a total of sixty billion dollars. The company is not an investment vehicle for the government like a sovereign wealth fund. It is a holding company for businesses in land development, port operations, energy and financial services. The group has used borrowed money for economic development.

Ghiyath Nakshbendi of American University in Washington notes that the problems are linked to a worldwide collapse in real estate prices.

GHIYATH NAKSHBENDI: "Emerging markets are as victim to the world meltdown as any other economy and there are no exceptions."

He expects the debt restructuring to be successful. He says Dubai and its leaders have too much to lose to let creditors -- like banks in Britain -- suffer losses.

Still, last week's announcement was a surprise. Now Dubai World is faced with selling properties at heavy losses to raise money. Some experts question how willing Abu Dhabi will be to rescue Dubai. Their relationship is sometimes tense.

Ghiyath Nakshbendi says Dubai World will have to change its ways.

GHIYATH NAKSHBENDI: "I think Dubai went a little bit too fast and they borrowed too much money in a very short period of time."

Of course, Dubai was not alone in gathering debt during the easy credit years. There are worries that the crisis could be the first of more to come in other parts of the world.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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This is the VOA Special English Economics Report.

This year, Junior Achievement marks its ninetieth anniversary of educating young people about business and economics. The nonprofit organization is the largest of its kind. Jack Kosakowsky is executive vice president.

JACK KOSAKOWSKY: "We are the oldest business and economic education organization in the world. We're now serving nine-point-two million young people around the globe in one hundred twenty-three different countries."

Programs begin in elementary school and continue through middle and high school. The education is based on the ideas of market-based economics and entrepreneurship.

Shakara Walker shows a product her group of students is marketing at JA offices in Atlanta, Georgia

For more than fifty years, Junior Achievement programs operated through clubs that met after school. But in nineteen seventy-five, JA also began to teach business skills during the school day.

Volunteers from the community teach about businesses, how they are organized, and how products are made and sold. The volunteers also teach about the American and world economies and about industry and trade.

The Junior Achievement Company Program teaches young people how entrepreneurship works. They learn about business by operating their own companies.

Students develop a product and sell shares in their company. They use the money to buy the materials they need to make their product, which they then sell. Finally, they return the profits to the people who bought shares in the company.

Chellsey Cruz joined a student-operated company two years ago. The Higher Grounds Cafe in West Hills, California, sells high quality coffee.

She says her experience has given her valuable training that will help her for a lifetime.

CHELLSEY CRUZ: "It taught me to be dedicated, and that if you want to be successful, you have to put in a lot of time and effort. You really have to work at it."

Junior Achievement says three hundred eighty-five thousand volunteers support its programs around the world. In the United States alone, there are nearly twenty-three thousand places that hold Junior Achievement events.

Junior Achievement Incorporated and Junior Achievement International combined their operations in two thousand four. They formed Junior Achievement Worldwide. Its headquarters are in Colorado Springs, Colorado.

And that's the VOA Special English Economics Report, written by Mario Ritter with additional reporting by Faiza Elmasry. Transcripts, MP3s and podcasts of our programs can be found at voaspecialenglish.com. And you can follow us on Twitter at VOA Special English. I'm Steve Ember.

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This is the VOA Special English Economics Report.

Women are on their way to holding more than half of all American jobs. The latest government report shows that their share of nonfarm jobs nearly reached fifty percent in September. Not only have more and more women entered the labor market over the years, but the recession has been harder on men. In October the unemployment rate for men was almost eleven percent, compared to eight percent for women.

Former eBay chief Meg Whitman, right, a Republican candidate for California governor, talks to a supporter at a business women's conference

Industries that traditionally use lots of men have suffered deep cuts. For example, manufacturing and building lost more jobs last month. But health care and temporary employment services have had job growth. Both of those industries employ high percentages of women.

Thirty years ago, women earned sixty-two cents for every dollar that men earned. Now, for those who usually work full time, women earn about eighty percent of what men earn. And women hold fifty-one percent of good-paying management and professional jobs.

Yet a study released Thursday said men still hold about nine out of every ten top positions at the four hundred largest companies in California. The results have remained largely unchanged in five years of studies from the University of California, Davis.

Also, a new research paper in the journal Sex Roles looks at the experiences of women who are the main earners in their family. Rebecca Meisenbach at the University of Missouri in Columbia interviewed fifteen women. She found they all valued their independence and many enjoyed having the power of control, though not all wanted it.

But they also felt pressure, worry and guilt. Partly that was because of cultural expectations that working women will still take care of the children. Also, men who are not the main earners may feel threatened.

The job market continues to suffer the effects of last year's financial crash. Now, a judgment has been reached in the first case involving charges of criminal wrongdoing on Wall Street.

Last week, the government lost its case against two managers at Bear Stearns, the first investment bank to fail last year. A jury found Ralph Cioffi and Matthew Tannin not guilty of lying to investors.

The hedge funds they supervised lost their value in two thousand seven. But jurors said there was no clear evidence that they meant to mislead investors.

The Justice Department continues to investigate other companies.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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Correction attached

This is the VOA Special English Economics Report.

A major reform of the American system of health care and insurance has moved farther in Congress than ever before. President Obama wants a final bill passed by the end of the year. But a difficult road still lies ahead.

House Speaker Nancy Pelosi after passage of the bill

BARACK OBAMA: "The Affordable Health Care for America Act is a piece of legislation that will provide stability and security for Americans who have insurance, quality affordable options for those who don't and bring down the cost of health care for families, business and our government while strengthening the financial health of Medicare."

But thirty-nine Democrats voted no, and only one Republican, Joseph Cao of Louisiana, voted yes. The bill passed with just two more votes than required. Republicans say the plan would add to the nation's debt, raise insurance costs and expand government involvement in health care.

Representative Joe Barton is a Republican from Texas.

JOE BARTON: "So, there is a choice. Bigger government, more mandates, more control, less freedom. Or lower costs, more opportunity, more freedom or more choice. I vote for more freedom."

The bill aims to provide health coverage to thirty-six million Americans. That would raise the nation's coverage rate to about ninety-six percent.

The most disputed part of the bill is a "public option" for individuals and small businesses. The government would compete with private plans by offering it own insurance -- based on payment rates negotiated with providers.

The House bill would raise taxes on high earners to help pay for the plan. It would also cut four hundred billion dollars from health programs for the retired and poor -- money that supporters of the bill say is now being wasted.

Most Americans would have to buy insurance or pay a fine; the government would help the needy. All but the smallest businesses would have to offer insurance for their workers or pay a tax. Some small businesses could receive tax credits to help with their costs.

Insurance companies could not deny or cancel coverage for people with pre-existing conditions. And the industry would lose its protection from anti-competitive laws.

Now, Harry Reid, the Democratic majority leader, is working to produce a health care bill in the Senate. Two bills passed by committees must be combined into one. If that passes, then a compromise would be needed with the House version.

But there is strong resistance in the Senate to a public option. Also, the Senate proposals would not require employers to provide coverage, but would offer tax credits to those that do.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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This is the VOA Special English Economics Report.

America's economy has started to grow again. Now what about jobs?

The government says productivity jumped in July, August and September. That meant companies produced more with fewer workers. Also, new claims for unemployment aid fell last week to the lowest number since January.

People waiting in line at a job fair in Livonia, Michigan

Jack Strauss at Saint Louis University in Missouri says recent recoveries have been slow to create jobs.

JACK STRAUSS: "Historically, during our last two recessions in ninety-one and two thousand one it's taken twenty-three months in ninety-one and about thirty-six months, three years, in our last recession in two thousand one for the United States to regain the jobs lost in the recession."

Experts debate the reason for these so-called jobless recoveries. But Professor Strauss says a banking crisis is especially hard to recover from, because there is less money to lend to support growth. Banks have been holding bigger safety reserves.

On Wednesday, the Federal Reserve kept its target rate near zero for overnight loans between banks. The central bank said levels are likely to remain "exceptionally low ... for an extended period."

Low interest rates and growing federal deficits have weakened the dollar. But that also lowers the price of American exports, which could help drive job creation. Yet where exactly will future jobs come from?

Investor Warren Buffet says America's "future prosperity" depends on its rail system. On Tuesday his Berkshire Hathaway company agreed to buy the nation's second-largest railroad, the Burlington Northern Santa Fe. The forty-four billion dollar deal is Berkshire's biggest ever.

The Obama administration is also putting money into transportation to speed recovery. A program that paid Americans to buy new vehicles with higher fuel economy lifted sales for automakers. Ford just reported a profit of almost a billion dollars for July through September.

A second government program -- a tax credit for first-time home buyers -- has helped the housing market. These two programs fueled a lot of the recent economic growth.

But economist Jack Strauss says credit conditions threaten the main engine of job growth since two thousand one -- small businesses.

This week, CIT, a lender to small and medium sized businesses, sought bankruptcy protection from its creditors so it can reorganize. Taxpayers will likely lose more than two billion dollars in federal rescue money.

And that's the VOA Special English Economics Report, available online at voaspecialenglish.com. I'm Mario Ritter.

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