Business

Economy
7:10 am
Fri June 1, 2012

Graphics: Tracking U.S. Monthly Unemployment

NPR

Originally published on Fri October 5, 2012 8:44 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
6:43 am
Fri June 1, 2012

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

Originally published on Fri June 1, 2012 11:31 am

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
5:21 am
Fri June 1, 2012

Mine Safety Questions Linger, One Year After Takeover Of Massey Energy

Originally published on Fri June 1, 2012 6:05 am

One year ago today, Alpha Natural Resources officially absorbed the troubled coal mining company Massey Energy, which had one of the worst safety records in the industry.

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The Two-Way
5:09 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 6:35 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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Around the Nation
3:29 am
Fri June 1, 2012

Komen Donations Down After Planned Parenthood Dispute

Originally published on Fri June 1, 2012 7:04 am

Transcript

DAVID GREENE, HOST:

The Susan G. Komen Global Race for the Cure takes place tomorrow here in the nation's capital. It's one of the breast cancer charity's biggest fundraisers. But this year, participation is way down. That follows Komen's controversial decision in February to stop funding Planned Parenthood programs. The decision was quickly reversed, but Komen's supporters worry about the long-term impact, as NPR's Pam Fessler reports.

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Europe
3:29 am
Fri June 1, 2012

Draghi Warns Euro Framework Is 'Unsustainable'

Originally published on Fri June 1, 2012 7:04 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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Business
3:24 am
Fri June 1, 2012

New Owner Wants To Rescue Struggling Talbots

Originally published on Fri June 1, 2012 7:04 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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Business
3:24 am
Fri June 1, 2012

Chesapeake Energy Drives Oklahoma City's Economy

Originally published on Fri June 1, 2012 7:04 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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Economy
3:24 am
Fri June 1, 2012

Political Teams Pay Attention To Monthly Jobs Report

Originally published on Fri June 1, 2012 7:04 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.

Business
3:24 am
Fri June 1, 2012

Exxon Mobil Plans Huge Chemical Facility In Texas

Originally published on Fri June 1, 2012 7:04 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with a new, multibillion-dollar chemical plant.

(SOUNDBITE OF MUSIC)

GREENE: Exxon Mobil plans to build a huge chemical facility in Baytown, Texas. It reverses a company statement last year that said it has no plans for new chemical factories in the United States. According to Reuters, decades-low natural gas prices made the move too enticing to pass over. Natural gas is a key fuel in chemical production. By using its own natural gas, Exxon Mobil can run a chemical plant relatively cheaply.

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Business
3:24 am
Fri June 1, 2012

Shilling Blames Rhode Island For Company's Downward Spiral

Originally published on Fri June 1, 2012 10:01 am

Transcript

DAVID GREENE, HOST:

Let's spend some time talking about the big money world of video games. In a moment, what may have been the biggest legal battle ever in the game industry. But first to former Boston Red Sox pitcher Curt Shilling. He is blaming the governor of Rhode Island for the meltdown of his video game company, 38 Studios. The company's failures have seen almost 400 workers lose their jobs and has Rhode Island taxpayers on the hook for close to $100 million. Ian Donnis of Rhode Island Public Radio has the story.

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Law
3:24 am
Fri June 1, 2012

'Call Of Duty' Creators Settle Lawsuit Against Activision

Originally published on Fri June 1, 2012 7:04 am

Transcript

DAVID GREENE, HOST:

And now to an even bigger battle that's been playing in the world of video games.

(SOUNDBITE OF VIDEO GAME)

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Economy
3:24 am
Fri June 1, 2012

Is Michigan Rebounding? Depends Who You Ask

Originally published on Fri June 1, 2012 7:04 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
3:24 am
Fri June 1, 2012

The Last Word In Business

Originally published on Thu June 7, 2012 11:24 am

Transcript

DAVID GREENE, HOST:

OK, let's turn now to personal wealth. Today's last word in business is disappearing millions.

The number of millionaire households in this country declined in 2011. That's according to this year's Global Wealth Study from the Boston Consulting Group. It found the number of American households with a million dollars of investable assets shrunk by 2.5 percent.

The U.S. still leads the world in millionaires, but developing countries are gaining ground. Other countries added nearly 200,000 millionaire households in 2011.

Energy
3:51 pm
Thu May 31, 2012

Gulf Refinery Expansion May Not Cut Gas Prices

Expanding the refinery at Port Arthur, Texas, took five years and $10 billion. The facility can now process 600,000 barrels a day.
Motiva Enterprises

Originally published on Mon June 4, 2012 5:44 pm

In Texas recently there was a grand opening for what is now the largest refinery in the U.S. Shell and Saudi Arabia's national oil company, Saudi Aramco, have more than doubled the capacity of their Port Arthur refinery.

The refinery business has been going through a tough period in recent years. Americans are buying less gasoline and other petroleum products — about 10 percent less than in 2005, according to the U.S. Energy Information Administration.

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Europe
2:36 pm
Thu May 31, 2012

Central Bank President Warns That Euro Is Unstable

Originally published on Thu May 31, 2012 8:58 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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Europe
2:00 pm
Thu May 31, 2012

Battered Spanish Economy Nears Tipping Point

A student in Pamplona, holding a sign in the Basque language, protests cuts Thursday in education and other public services by the government. Spain's financial position is weakening and there are fears the country will need a bailout.
Alvaro Barrientos AP

Originally published on Thu May 31, 2012 8:58 pm

Spain's borrowing costs hit record highs this week and European stock markets have slumped over fears Madrid can't afford the price tag required to prop up its ailing banks. It's looking ever more likely the country will need some kind of bailout.

After watching Greece from afar for years, many Spaniards now believe Spain's number is up.

A tourist in Madrid might wonder where the crisis is. Traffic is heavy and the tapas bars are packed.

But listen in on some of the conversations, and it's clear that Spaniards are scared.

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The Two-Way
1:48 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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The Two-Way
12:31 pm
Thu May 31, 2012

Wal-Mart Pulls Out Of Group That Advocates 'Stand Your Ground' Laws

Selina Gray of Sanford, Fla., at a protest there on March 31.
Julie Fletcher AP

Wal-Mart has joined the list of major corporations withdrawing their support from a conservative political group that advocates the "Stand Your Ground" laws that came under intense focus after the Trayvon Martin killing became a national story.

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The Salt
12:18 pm
Thu May 31, 2012

Bloomberg's Sugary Drink Ban May Not Change Soda Drinkers' Habits

Will reducing the size of New York city's sodas impact the obesity problem?
iStockphoto.com

Originally published on Thu May 31, 2012 8:58 pm

When New York Mayor Michael Bloomberg announced last night he wants to ban sodas and many other sugary drinks in 16 ounce servings sizes and up, the reaction was swift and predictable.

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Economy
9:06 am
Thu May 31, 2012

U.S. Economic Growth Falls Short Of Expectations

Transcript

DAVID GREENE, HOST:

NPR's business news starts with starts with some discouraging numbers.

(SOUNDBITE OF MUSIC)

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The Two-Way
6:28 am
Thu May 31, 2012

Job Growth Slow, Jobless Claims Up, GDP Revised Down

Originally published on Thu May 31, 2012 6:49 am

The number of jobs on private employers' payrolls grew by a modest 133,000 positions from April to May, according to the latest ADP National Employment Report.

ADP's monthly report is sometimes a decent barometer of what the Bureau of Labor Statistics will say when it issues its employment estimates. We're due to hear from BLS about the May employment situation on Friday at 8:30 a.m. ET.

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The Two-Way
4:59 am
Thu May 31, 2012

Bloomberg Aims To Take Gulp Out Of Sugary Drinks With Ban On Big Ones

Bloomberg's got his sights on these.
Joe Raedle Getty Images

Originally published on Thu May 31, 2012 6:04 am

Having gone after smoking and artificial trans fats, New York City Mayor Michael Bloomberg now has his eye on big sugary drinks.

As NY1 reports, the mayor:

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Business
3:21 am
Thu May 31, 2012

Fire In Belltown, USA Destroys Last Bell Factory

Bevin Brothers Manufacturing Company in East Hampton, Ct., was a fixture in what was known as Belltown USA. Dozens of bell manufacturers used to call it home. But Bevin Bells was the city's last manufacturer until this past weekend when the factory burned down. Owner Matthew Bevin would like to rebuild.

Education
3:21 am
Thu May 31, 2012

Seattle Area Lacks Computer Science Majors

In Seattle alone, there are thousands of computer-related jobs waiting to be filled. But at the University of Washington, the number of bachelor's degrees in computer science is the same now as it was more than a decade ago. A lot of students have been rebuffed in their effort to major in computer science or computer engineering.

Business
3:21 am
Thu May 31, 2012

The Last Word In Business

Originally published on Thu May 31, 2012 5:17 am

Transcript

RENEE MONTAGNE, HOST:

Our last word in business today is: Big Gulp. Actually, make that moderately-sized gulp.

New York City Mayor, Michael Bloomberg has proposed a ban on sugary drinks larger than 16 ounces, which means a large Slurpee or a Grande Frappuccino, would still be legal. Restaurants, movie theaters, and food trucks would all have to abide by the rule, which is aimed at rising obesity rates. Fruit juices and alcoholic drinks would be exempt.

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Business
3:21 am
Thu May 31, 2012

Business News

Originally published on Thu May 31, 2012 5:11 am

Economists had predicted the growth of Asia's third-largest economy would continue to slow this year. But the latest data suggests the Indian economy is in worse shape than many analysts thought. The country's growth in the first quarter of this year was only 5.3 percent, compared to 9.2 percent last year.

Election 2012
1:36 am
Thu May 31, 2012

The Fine Political Art Of Jobs Forecasting

A sign outside a McDonald's restaurant in Chesterland, Ohio, advertises job openings earlier this month.
Amy Sancetta AP

Originally published on Thu May 31, 2012 6:17 am

Friday is jobs day, when the federal government releases its monthly unemployment report. It's also just about five months before the presidential election.

When the two presidential contenders talk about unemployment, they're trying to balance their rhetoric between optimism, pessimism and reality.

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Youth Radio
12:52 am
Thu May 31, 2012

Matchmaker, Matchmaker, Find Me A Part-Time Job

An image from the TaskRabbit website shows one of the company's workers assembling a piece of furniture — a task the site says will pay $45.
NPR

Originally published on Thu May 31, 2012 3:21 am

The unemployment rate is 8.1 percent, but the underemployment rate — that's people who work part time but want full-time work — is much higher. For many people, making ends meet means cobbling together various part-time jobs. And there are some apps for that.

Shannon Mills has blanketed the floor in a spacious home in Corte Madera, Calif., with protective plastic. Now she's taping off the trim, getting ready to paint over the peach-colored living room walls with the more neutral "bisque" shade waiting in cans at her feet.

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It's All Politics
3:14 pm
Wed May 30, 2012

CEO In Chief? A Business Background Is Rare For Presidents

Mitt Romney addresses the Latino Coalition's 2012 Small Business Summit in Washington earlier this month.
Mary Altaffer AP

Originally published on Thu May 31, 2012 10:17 am

Republican Mitt Romney is running on the strength of his business background. He says he knows how to fix the economy, in part because of his success at Bain Capital. But history is not necessarily on Romney's side. Very few businesspeople have made it to the White House.

The transition from business to politics isn't necessarily an easy one.

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