Business

Economy
8:03 am
Sun June 3, 2012

We Got The Jobs Report, Now What?

Originally published on Sun June 3, 2012 10:37 am

Friday's disappointing jobs report added to worries the recovery is in trouble. Only 69,000 new jobs were added to payrolls, and the unemployment rate moved higher, to 8.2 percent. Suddenly there is more talk about the Fed and what it might do to get the economy moving again. NPR's Jim Zarroli reports.

Economy
8:03 am
Sun June 3, 2012

The Economy From The People's Perspective

Originally published on Sun June 3, 2012 10:37 am

Transcript

RACHEL MARTIN, HOST:

This is WEEKEND EDITION from NPR News. I'm Rachel Martin.

Disappointing. Dismal. Bleak. These are just a few of the words used to describe the latest employment report. It showed that the U.S. economy added just 69,000 jobs in May. That's less than half of what economists had expected. And this was the third consecutive month of weak results, which raises new concerns about the sputtering economic recovery.

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NPR Story
7:38 am
Sun June 3, 2012

How Homes Structure The American Dream

Originally published on Sun June 3, 2012 10:37 am

Home ownership has long been considered a key part of the American Dream. The dream has taken a beating in recent years, but polls show the desire to own remains extremely high. NPR's Chris Arnold discusses the state of home ownership and reviews the latest housing news with host Rachel Martin.

Analysis
6:31 pm
Sat June 2, 2012

Week In News: Jobs And The Campaign Trail

With the unemployment rate climbing to 8.2 percent, the Mitt Romney presidential campaign can focus on the economy as issue No. 1 this November. Host Guy Raz speaks with news analyst James Fallows of The Atlantic about the economic malaise and how it may affect the election.

Economy
5:05 pm
Sat June 2, 2012

New Jobs Can't Keep Up With Population Growth

Among the more than 12 million Americans out of work, almost half have been out of work for more than six months. In its latest issue, Bloomberg Businessweek magazine profiles 12 people among these long-term unemployed who have managed to get back into the workforce. Host Guy Raz talks with Josh Green, senior national correspondent with Bloomberg Businessweek.

Economy
7:55 am
Sat June 2, 2012

Europe's Debt Weighs On U.S. Employers

Originally published on Sat June 2, 2012 11:01 am

Transcript

SCOTT SIMON, HOST:

So, why is job growth slowing? Well, part of the problem, as we just heard, appears to be in Europe. The economic turmoil there is looking worse, and that has ripped into the U.S. economy and slowing down hiring. NPR's Chris Arnold has more from Boston.

CHRIS ARNOLD, BYLINE: The weather this week was beautiful in Boston, so it's perfect for tourists having lunch outside by the harbor or taking a trolley bus around to do some sightseeing.

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Politics
5:53 am
Sat June 2, 2012

Fingers Point As Job Numbers Fall

Trader Peter Tuchman works on the floor of the New York Stock Exchange at the close of trading Friday. The stock market suffered its worst day of the year after a surprisingly weak jobs report.
Richard Drew AP

Originally published on Sat June 2, 2012 2:01 pm

If unusually warm weather helped encourage job growth earlier this year, May was like a wet, cold rain. A report from the Labor Department on Friday showed that U.S. employers added just 69,000 jobs last month — far fewer than expected.

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Politics
5:35 pm
Fri June 1, 2012

Poor May Jobs Report A Blow To Obama Campaign

Originally published on Fri June 1, 2012 6:13 pm

Bad numbers for job growth in May spoiled a day of campaigning for President Obama. He says the ailing Eurozone and gas prices have also hurt the U.S.

Economy
5:24 pm
Fri June 1, 2012

New U.S. Jobs Report Sends Dow Sliding

Originally published on Fri June 1, 2012 6:13 pm

The government's monthly employment report Friday morning was a big disappointment. The economy added just 69,000 jobs in May and the unemployment rate ticked up a notch to 8.2 percent. The stock market also reacted negatively to the news.

Economy
5:20 pm
Fri June 1, 2012

Dismal Job Growth Nothing New In California

Originally published on Fri June 1, 2012 6:13 pm

The good news is that unemployment rate in California dropped down to 10.9 percent for the month of April. The bad news is that a million more workers were unemployed in April compared to a pre-recession low in October 2006. The new numbers suggest a lurching recovery without any sustained momentum.

Economy
5:20 pm
Fri June 1, 2012

Oil Industry Helps Job Growth Hold Steady In Texas

Originally published on Fri June 1, 2012 6:13 pm

Texas is one of the states that has actually seen job growth. Nathan Bernier of member station KUT reports on the type of jobs being created.

Economy
5:20 pm
Fri June 1, 2012

Part-Time Workers Skew Jobs Figures In Arizona

Originally published on Fri June 1, 2012 6:13 pm

Arizona is among the top ten states for job growth. But that includes part-time jobs, so thousands may be underemployed.

World
5:03 pm
Fri June 1, 2012

Struggling U.S. Economy Drags Down The World

Slow economic growth in the U.S. is having an impact on many countries around the world. Here, people walk past a board flashing the Nikkei index on the Tokyo Stock Exchange in Japan last month.
Toru Yamanaka AFP/Getty Images

Originally published on Fri June 1, 2012 5:38 pm

The sputtering U.S. economy isn't just bad news for America, it's a drag on the global economic outlook as well.

"What matters to the rest of the world is the amount of demand the United States is going to generate," says economist Eswar Prasad, a professor of trade policy at Cornell.

"Weak job growth translates to weak domestic demand in the U.S., and that concerns all of the U.S.'s major trading partners," he says.

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Business
5:03 pm
Fri June 1, 2012

No Beer Goggles For Baseball Stadium Brew Prices

A fan of the St. Louis Cardinals buys a beer from a vendor prior to Game 3 of the World Series against the Detroit Tigers at Busch Stadium in 2006. At 56 cents an ounce, St. Louis is second only to Boston for the priciest ballpark brew in the country.
Jamie Squire Getty Images

Originally published on Fri June 1, 2012 6:13 pm

Change has been the story of the season for the Miami Marlins, formerly the Florida Marlins. With a new coach, a new name, new team colors and a new stadium the baseball team set a franchise record for winning games in May.

But one tradition isn't changing anytime soon: beer. Ordering a beer at a baseball game is as American as apple pie. So is forking over a small fortune for that beer.

According to an analysis by TheStreet.com, the most expensive beer of any baseball stadium is sold at the new Marlins Park, where baseball fans pay $8 for a Bud Light draft.

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The Two-Way
1:28 pm
Fri June 1, 2012

Obama, Romney Have Sharply Different Takes On Weak Jobs News

Earlier, Republican presidential candidate Mitt Romney blamed what he said have been President Obama's "failed" economic policies for the nation's stubbornly high unemployment rate and weak job growth.

In Minnesota this hour, President Obama conceded "we've got a lot of work to do before we get to where we need to be," but also claimed credit for policies that he said prevented another Great Depression after the financial crisis of 2008.

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Economy
11:36 am
Fri June 1, 2012

How Bad Jobs Report Can Trigger Vicious Cycle

Originally published on Fri June 1, 2012 6:15 pm

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin and this is TELL ME MORE, from NPR News. Coming up, we will talk about the painful new questions being raised by a long-ago crime. A man was recently arrested for murdering a little boy nearly 30 years ago but now it's been reported that the suspect may have confessed to a church group years before, but no one went to the authorities.

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Business
11:07 am
Fri June 1, 2012

Employment Growth Slows As Jobless Benefits Shrink

Aaron Moore completes a job application at a Los Angeles career fair on Thursday. Job growth has slowed sharply since the winter, the government said Friday.
Kevork Djansezian Getty Images

Originally published on Fri June 1, 2012 6:14 pm

May's higher unemployment rate and meager job creation couldn't have come at a worse time for people like Julia Gray. A Chicago-based writer and editor with a master's degree, Gray said she has been unemployed for 17 months. "The media world in Chicago is dead and deader," she said.

"I was collecting unemployment benefits for a while," she said. "It helped a great deal — it was incredibly important."

But now her benefits have run out, and her employment search goes on.

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Planet Money
10:08 am
Fri June 1, 2012

Three Years Of An Awful Recovery

Lam Thuy Vo / NPR

Originally published on Mon June 4, 2012 12:25 pm

The recession ended and the recovery began in June, 2009. It's an ugly third birthday for the labor market

More than 7 million U.S. jobs disappeared during the recession. Fewer than 3 million have been added in the recovery. And the rate of job growth has been falling lately; in May, the economy added just 69,000 jobs. That's not even enough to keep up with population growth.

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The Two-Way
9:33 am
Fri June 1, 2012

Stocks Drop On Weak Jobs News

Originally published on Fri June 1, 2012 4:57 pm

Stock prices fell on Wall Street today as investors digested the much-weaker-than-expected report on job growth in May.

The damage? The Dow plunged 274 points or 2.2 percent. The Nasdaq fell 80 points or 2.82 percent.

CNN Money reports the Dow had the worst day of 2012, erasing "all its gains for the year."

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Economy
9:10 am
Fri June 1, 2012

Graphics: Tracking U.S. Monthly Unemployment

NPR

Originally published on Fri October 5, 2012 10:44 am

U.S. employers added 114,000 jobs in September, the Labor Department reports. And the unemployment rate fell to 7.8 percent, marking the first time since President Obama took the oath of office in January 2009 that the U.S. jobless rate is under 8 percent.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

The Two-Way
8:53 am
Fri June 1, 2012

Just 69,000 Jobs Added In May; Unemployment Rate Edges Up To 8.2 Percent

Originally published on Fri June 1, 2012 1:31 pm

Horrid. Lousy. Awful.

Those are just three of the words economists are using to describe the news that just 69,000 net jobs were added to public and private payrolls last month — and that the nation's jobless rate edged up to 8.2 percent from April's 8.1 percent.

The news has raised fears that the hoped-for strengthening of the economy may not materialize.

We posted on the news and followed with details from the report and reaction to it. It's now 11:22 am. ET, here's our original post and earlier updates:

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The Two-Way
7:09 am
Fri June 1, 2012

Did Jobs Grow Fast Enough In May? Probably Not

Hoping for work: Job seekrs lined up Thursday at a job fair in Los Angeles.
Kevork Djansezian Getty Images

Originally published on Fri June 1, 2012 8:35 am

Breaking news at 8:34 a.m. ET: "Unemployment Rate 8.2 Percent In May As Just 69,000 Jobs Added

Our original post:

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Business
5:29 am
Fri June 1, 2012

New Owner Wants To Rescue Struggling Talbots

Originally published on Fri June 1, 2012 9:04 am

Transcript

DAVID GREENE, HOST:

Talbots, the women's clothing seller, has been struggling lately. And now it's getting a new owner. The private equity firm Sycamore Partners hopes to turn around the 65-year-old retailer.

From member station WBUR in Boston, Curt Nickisch reports.

CURT NICKISCH, BYLINE: Talbots' core customers have been people like Ava Beaulieu, who's a strategic planner at a Boston health care company.

AVA BEAULIEU: In the past, I would buy suits, dresses, shoes and accessories for work.

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Economy
5:29 am
Fri June 1, 2012

Political Teams Pay Attention To Monthly Jobs Report

Originally published on Fri June 1, 2012 9:04 am

The Labor Department said the U.S. economy added 69,000 jobs last month — far fewer than analysts expected. The unemployment rate also rose to 8.2 percent, up from 8.1 percent in April. The monthly jobs report is an important weather vane for anyone trying to get a bead on which way the economic winds are blowing.

Economy
5:29 am
Fri June 1, 2012

Is Michigan Rebounding? Depends Who You Ask

Originally published on Fri June 1, 2012 9:04 am

Transcript

DAVID GREENE, HOST:

This election year we've seen a lot of cases where different people look at the same economic situation and come to different conclusions. And that seems to be happening in Michigan. It's America's comeback state - that according to its governor, Rick Snyder. Unemployment there is dropping, as the U.S. auto industry rebounds. And the state has a budget surplus for the first time in years.

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Business
5:29 am
Fri June 1, 2012

Chesapeake Energy Drives Oklahoma City's Economy

Originally published on Fri June 1, 2012 9:04 am

Transcript

DAVID GREENE, HOST:

And now let's look at how plunging natural gas prices might affect another energy company and the city calls home. Oklahoma City has been on a roll lately. Its unemployment rate is one of the lowest in the country. Its pro basketball team, the Thunder, has gone deep into the NBA playoffs. And the city has a world-class Olympic rowing venue.

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NPR Story
5:20 am
Fri June 1, 2012

Draghi Warns Euro Framework Is 'Unsustainable'

Originally published on Fri June 1, 2012 9:04 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION from NPR News. Good morning. I'm David Greene. The financial woes of Greece and other countries of the eurozone, have meant painful austerity measures in exchange for financial bailouts. Now, Irish voters have approved a European Union treaty to battle the debt crisis. It's an effort to enforce strict budget cuts or face financial penalties.

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Planet Money
2:59 am
Fri June 1, 2012

A Front-Row Seat At A Bank Run

Petros Giannakouris ASSOCIATED PRESS

Originally published on Fri June 1, 2012 9:04 am

A decade ago, investors thought Greece would flourish on the euro. Money poured in, and banks started lending it out. Thefilos Papacostakis, a bank teller at Alpha Bank in Thessaloniki, got to hand out a lot of that money.

Last month, Thefilos says, his bosses called him in for a meeting. They told him things were about to get worse. When countries are in this kind of trouble, the bosses said, people panic and pull their money out of banks.

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Europe
4:55 pm
Thu May 31, 2012

Central Bank President Warns That Euro Is Unstable

Originally published on Thu May 31, 2012 10:58 pm

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED, from NPR News. I'm Melissa Block.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. The euro needs a vision - that was the message today from European Central Bank president Mario Draghi, speaking before the European Parliament. He warned that the current plan backing the single currency is unsustainable.

And as NPR's Sylvia Poggioli reports, governments may have to make some tough choices to keep the eurozone intact.

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The Two-Way
3:48 pm
Thu May 31, 2012

For Many Teens, Summer Jobs May Be Thing Of The Past

Tom Auffhammer, 17 (right) scoops ice cream in Syracuse, N.Y. Teens continue to face stiff competition for summer jobs, but a downward trend in summer hiring for teens actually predates the recession.
Michelle Gabel The Post-Standard/Landov

The school year's winding down, meaning teenagers around the country will soon be trying to pull in some extra cash scooping ice cream or manning those kiosks at the mall.

But with the job market still weak, teens are facing stiff competition landing summer jobs. And while the downturn has hit young job seekers particularly hard, it's not just the lingering effects of the Great Recession working against them: the drop-off in teen summer hiring actually began long before 2007.

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