Aug 06 Friday: Unemployment Unchanged at 9.5%; BP Closer to Sealing Well Private employers added 71,000 jobs in July, up from a revised 31,000 in June but not nearly enough to help the unemployment rate, which remained unchanged at 9.5 percent. Overall, the economy lost 131,000 jobs in July, the… Continue reading
Aug 06 The Morning Line: It's All About Jobs, Jobs, Jobs The Labor Department released its much-awaited monthly jobs report Friday, showing 131,000 jobs were lost in July, more than economists had expected. Both the unemployment rate, at 9.5 percent, and the number of unemployed persons, 14.6 million, remained unchanged. Continue reading
Aug 06 Watch Charlotte Looks to Remake Banking Economy As a part of NewsHour Connect, which showcases some of the best public broadcasting reporting from around the country, Rob Holliday of UNC-TV brings some good news on the jobs front in North Carolina. Continue watching
Aug 06 Watch News Wrap: Wall Street Up for the Week Despite Bleak Jobs Report Amid the grim job numbers from the Labor Department Friday, Wall Street managed to come out of the week ahead. The Dow is up nearly 2 percent and the NASDAQ rose 1.5 percent. Also, BP is waiting for cement to… Continue watching
Aug 06 Watch Long-Term Joblessness Takes Emotional, Spiritual Toll on '99ers' July's jobs reading came as bad news for job seekers and the U.S. economy. The Labor Department reports that 6.6 million people have been unemployed for 27 weeks or longer. Paul Solman talks to people who have been out of… Continue watching
Aug 06 Watch 'Disappointing' Jobs Report Shows Uphill Climb for Unemployed Americans The latest job numbers show the economy is struggling to get back on track. In July, the government cut 131,000 temporary Census jobs and only about 71,000 jobs were gained in the private sector. Ray Suarez sits down with economist… Continue watching
Aug 05 Watch News Wrap: Supermodel Campbell Testifies in Taylor War Crimes Trial In other news Thursday, Senate Democrats passed a $26 billion aid package for state and local governments, supermodel Naomi Campbell testified at the war crimes trial of former Liberian leader Charles Taylor, and several U.S. citizens were charged for supporting… Continue watching
Aug 05 What Would Happen if the U.S. Government Defaulted on its Debt? Question: I’ve heard the comment that if the U.S. government were to default on its debt, “everything goes down” — presumably banks, credit unions, etc. Would a default necessarily result in runs on retail banks and credit unions and insufficient… Continue reading
Aug 05 BP Begins Cementing Well in Final 'Static Kill' Step Updated 5:07 p.m. ET BP says it has finished pouring cement into the well. "Monitoring of the well is under way in order to confirm the effectiveness of the procedure," the company said in a statement. Updated 1:57 p.m. ET… Continue reading
Aug 05 Missouri's Primary Results: the Effects of the Tea Party and Pizza Coupons By Dante Chinni As this blog has noted in many posts, despite the media coverage of the political movement known as the tea party, it is difficult to tell what its impact is or will be in the… Continue reading