PODCAST: All you can eat and the September jobs sheet
Friday, October 5, 2012 - 11:16 Scott Barbour/Getty Images The Telegraph reports a Mongolian barbeque in Brighton banned two very regular customers for life, calling them "pigs" and accusing them of eating the business into the ground. U.S. employers added 114,000 jobs in September . The unemployment rate fell to 7.8 percent, the same place it was when President Obama took office. On both counts, the numbers surpassed economists' expectations. Presidential economic adviser Alan Krueger and Romney adviser Glenn Hubbard share their reactions to this morning's jobs report . Along with September's employment report, the Labor Department also revised up job gains August and July. In August, in particular they now say the economy added 50 percent more jobs than the original estimate. The markets are happy, but there are some sobering details behind the headline jobs numbers. The unemployment rates for blacks, hispanics, and young people were unchanged, while there were job gains in industries ...
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PODCAST: Manufacturing highs and lows, cuteness helps concentration
Monday, October 1, 2012 - 10:16 Koichi Kamoshida/Getty Images A "tea cup" poodle puppy dozes off in a mug at a pet shop in Tokyo, Japan. Today the Greek government submits its budget for 2013. It likely includes billions in controversial cuts; the country's trying to meet the conditions imposed by its creditors elsewhere in Europe. The budget reportedly projects the Greek economy will shrink up to 4 percent -- the sixth year in a row of recession. An enormous effort is underway to keep Greece and other struggling European countries on the euro currency -- "inside the eurozone," as we say. It would be easy to conclude the alternative is unthinkable -- and yet some people are not only thinking about it, they are calling for it . A bad surprise in U.S. construction spending , which fell in August by the most in a year. The problem was not houses, but non-residential building. Investors may be looking past that to appreciate two manufacturing indexes -- both show expansion, and the ISM index ...
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PODCAST: Layoffs at BofA, protests in India
Thursday, September 20, 2012 - 10:17 John W. Adkisson/Getty Images A woman walks by a Bank of America ATM. Bank of America has set a target of 16,000 job cuts by year-end. So says a report in this morning's Wall Street Journal. That would likely knock BofA from its spot as the biggest employer in the U.S. banking industry. U.S. initial claims for unemployment insurance fell only a bit last week -- not very comforting. More tough economic data out of Asia. Chinese manufacturing continues to contract -- fewer people are buying Chinese goods, especially in Europe. Ditto for Japan, where exports in August were down six percent from last year. There is a huge strike going on this morning in India . Schools, businesses and public transportation have been shut down as part as a protest against the government's decision to allow mega retailers like Walmart and Tesco into the country. This morning the Census Bureau put out a raft of new data for 2011. It includes the income and poverty rates from ...
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Unemployment Followup
With the latest unemployment figures released on Friday, Renee Montagne talks to David Wessel, economics editor of "The Wall Street Journal," about the complexities of the jobless situation. It's not just a lack of jobs. Many companies complain they can't find enough workers to fill the positions — but are companies part of the problem?
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