Gotta Watch: Huntsman's presidential campaign
Republican presidential candidate and former Utah Gov. Jon Huntsman campaigns at Keene State College on January 08, 2012
January 16th, 2012
12:38 PM ET

Gotta Watch: Huntsman's presidential campaign

On June 21, 2011, former Utah Governor and U.S.ambassador to China Jon Hunstman announced his candidacy for president. He began his campaign in Liberty State Park, the same place where Ronald Reagan announced his bid for president in 1980. Over the past several months, the moderate conservative traveled across the country to tout his tax plan and foreign policy views. However, his campaign never really got the momentum he needed.  Huntsman finished last in the Iowa caucus and third in the New Hampshire primary. Despite the endorsement by South Carolina's largest newspaper, Huntsman decided it was time to end his campaign and back one of his rivals. Today's Gotta Watch features a look back at Huntsman's campaign, his feisty exchanges with Mitt Romney and the end of his bid for the White House.

Bad-mouthing Mitt – During his campaign, Huntsman attacked Romney on everything from tax policy to health care to his views on China.

A message for Mitt – During his campaign, Huntsman sent a message to Romney, the winner of the Iowa caucuses. "Welcome to New Hampshire. Nobody cares." That, and a nod to the Grateful Dead, were some of the more memorable highlights from his run for the GOP nomination.

To quit and endorse Mitt -  In the end, Huntsman decided he shouldn't continue on, and suspended his campaign. And, despite their "differences," Huntsman gave Romney his endorsement.

Post by:
Filed under: Barack Obama • China • Economy • Gotta Watch • Health Care • Iowa • Jobs • Mitt Romney • New Hampshire • Politics • Republican Party • South Carolina • U.S. • World
Overheard on CNN.com: U.S. companies too dependent on overseas manufacture?
Students protest in China in June 2010, displaying model effigies of workers who have committed suicide at Foxconn.
January 11th, 2012
07:46 PM ET

Overheard on CNN.com: U.S. companies too dependent on overseas manufacture?

Editor's note: This post is part of the Overheard on CNN.com series, a regular feature that examines interesting comments and thought-provoking conversations posted by the community.

The issue of foreign labor, outsourcing and "buying American" bubbles up on CNN.com from time to time, and almost always leads to a fascinating discussion about the economics and ethics of overseas manufacture. Protests over pay (and a threat of mass suicide) at a plant that makes Microsoft's Xbox game systems re-ignited the debate over work conditions in foreign factories. Chinese contractor Foxconn, the plant owner, makes brand-name electronics for Apple, Dell, Hewlett-Packard, Sony and Microsoft.

Microsoft investigates mass suicide threat at China plant

Our readers wondered whether it would be possible to sustain the U.S. economy on entirely American-made goods. The most-liked comment started a huge discussion thread.

28Mamerican: "Here is a novel idea, manufacture products of American products in America."

Shown here are some of the replies, which themselves were quite a discussion. One of the most common things noted was that items would be a lot more expensive if they weren't made in China and other places overseas. FULL POST

Post by:
Filed under: Business • China • Economy • Jobs • Overheard on CNN.com • World
Overheard on CNN.com: What's the best way to get people out of poverty?
Each member of the Bryants' co-op pays $3 for over $100 worth of groceries and is required to pitch in with the distribution.
January 9th, 2012
07:02 PM ET

Overheard on CNN.com: What's the best way to get people out of poverty?

Editor's note: This post is part of the Overheard on CNN.com series, a regular feature that examines interesting comments and thought-provoking conversations posted by the community.

More than 4,000 comments (and counting) have been written about the story of an Atlanta couple who came upon hard times and high medical bills. Alan Bryant is a line cook at Ruth's Chris Steak House, where he cooks pricey steaks. His wife, Andono, is shown picking up groceries at a food co-op. Readers took a look at the story and offered their opinions in the comments section, encompassing a wide variety of views.

Poor, but feeding the rich

The most-liked comment on the story was posted by a reader defending the Bryants, saying that some people come into life with different circumstances than others. There was a response from another reader who had beaten the odds and said the Bryants had options they could have pursued.

chiefofsages: "It bugs me when people keep saying 'well, they should've gone to college and gotten an education rather than popping out kids,' or crap like that. The article says they were from lower-class families that very likely could not afford college. Even with grants, scholarships, etc. ..., it's still very expensive to attend. And if you need loans, you're screwed. Additionally, an education doesn't always mean you're guaranteed a job or safety. My sister has a bachelor's degree and two years later is making just over minimum wage. One of her best friends went for a master's degree and is still looking for a job. My other sister's co-worker (who held a master's degree as well) was let go because the economy sucks. So, please don't sit there and say that everything is their fault. Did they make some choices that could've negatively impacted their lives? Absolutely, I think they're partially to blame. Do I think that they're completely to blame and that they are victims of their poor decisions? Not a chance in hell."

Sebastian293: "At 13 I lived in a homeless shelter. I remember on more than one occasion that dinner consisted of boiled onions. I lived in Minnesota and for four years I made do with a fleece jacket we had bought at Kmart for $12. Don't tell me they were poor and could not go to college. There was financial assistance available, there were scholarships. I grabbed every opportunity and made sacrifices. In my junior year I took advantage of my state's post-secondary program and was sent to college for my junior and senior years. Friendships? Sacrificed. Leisure time? Sacrificed? I like to joke that I was taking finals in college while my classmates were at prom! I finished with a 3.93 and a lot of debt ($17k), but I did not major in basket weaving. I knew to study something practical, not fun. Am I a millionaire today? No. I make just under $50,000, which for the Midwest isn't so bad. So does it bug me when people say: 'Oh, they came from a poor background they can't help it'? Yes, it absolutely does." FULL POST

Post by:
Filed under: Economy • Jobs • Overheard on CNN.com
After exec's arrest, St. Louis paper slams Alabama on immigration, courts Mercedes
Mercedes, Alabama's largest exporter, says it's responsible for 10,000 direct and indirect jobs in the region.
November 23rd, 2011
12:35 PM ET

After exec's arrest, St. Louis paper slams Alabama on immigration, courts Mercedes

It’s not often that a newspaper can attack another state, pontificate on a hot-button national issue and deliver a targeted economic development pitch in one go.

That’s what the St. Louis Post-Dispatch editorial board did Tuesday with its open letter, “Hey, Mercedes, time to move to a more welcoming state.”

News surfaced this week that police in Tuscaloosa, Alabama, recently pulled over a man because of a problem with a tag on his rental car. The man, who was German, didn’t have handy what the state considers proper identification, so he was arrested under a provision of Alabama’s immigration law, which is considered the strictest in the land.

Turns out, the man was Detlev Hager, a 46-year-old Mercedes-Benz executive traveling on business. About 10,000 people in the region rely on the company for their livelihood, according to Mercedes-Benz U.S. International, which happens to be the state’s largest exporter.

Hager – one of 66 people charged with not having proper identification since October 1 – had his charges dropped after an associate tendered Hager's passport and German driver’s license, the Tuscaloosa News reported.

Not before the Post-Dispatch took its shot, though.

FULL POST

Post by:
Filed under: Alabama • Auto Industry • Automobiles • Civil Rights • Courts • Economy • Immigration • Jobs • Politics • U.S.
Why many vets are struggling to get jobs
Some troops’ skills are great for civilian jobs, but licensing and jargon sometimes keep them from getting offers, the U.S. Chamber of Commerce says.
November 11th, 2011
01:29 PM ET

Why many vets are struggling to get jobs

They worked in some of the most adverse conditions in the world, often achieving their missions while under fire on the battlefield. But while the men and women of the U.S. military are highly trained in job skills and leadership, their experience doesn't always immediately translate into jobs in the civilian sector.

(Click the audio player to hear more on this story from CNN Radio's Steve Kastenbaum)

The unemployment rate among veterans of wars in Iraq and Afghanistan is several points higher than the national average. The unemployment rate for veterans who left the military after 2001 was 12.1% last month, leaving about 240,000 veterans out of work, according to the White House. The national jobless rate is 9%, according the Department of Labor.

Fourteen percent of veterans who served in the National Guard or Reserve units are jobless, according to the U.S. Chamber of Commerce, the nation’s largest business association.

And the rate is worse for all post-9/11 veterans under the age of 24, said Kevin Schmiegel, the chamber’s vice president of veterans’ employment programs. "Roughly one out of every four in that cohort is out of a job," he said.

Veterans’ unemployment rate is expected to rise as the U.S. troop drawdown in Iraq shifts into high gear virtually all of the 39,000 troops still in Iraq in October will be withdrawn by December 31. Also, about 100,000 National Guard members and reservists will be demobilized in the coming months. Most of those men and women will enter the civilian job market.

The U.S. House next week is expected to pass a bill already passed by the Senate that will give employers up to a $5,600 tax credit for hiring a veteran who has been unemployed for six months.

But the incentive may not be enough for many veterans to get a job.

FULL POST

Post by:
Filed under: Economy • Jobs • Military • Veterans • War
October 31st, 2011
02:00 PM ET

Boeing brings new jobs to Florida's Space Coast

A partnership between NASA's Kennedy Space Center and Boeing will bring more than 100 jobs to Florida's Space Coast, the governor announced on Monday.

"Florida has five decades of leadership in the space industry, which makes our state the logical place for the next phase of space travel and exploration," Gov. Rick Scott said in a statement.

Boeing's plans include manufacturing and testing its Crew Space Transportation-100 spacecraft and locating its Commercial Crew program headquarters at Cape Canaveral.

The move is expected to create 140 jobs in Florida by June 2013 and 550 by December 2015.

FULL STORY
Post by:
Filed under: Economy • Jobs • Space
October 18th, 2011
12:40 PM ET

Obama steps up jobs push in North Carolina

President Barack Obama continued hammering Republicans over their opposition to his $447 billion jobs plan Tuesday, casting the GOP as handmaids of the rich unwilling to support fair sacrifices in order to help a struggling middle class.

Visiting a school and community center in Jamestown, North Carolina, Obama said "folks in Washington don't seem to be listening" to calls for help.

"I want to work with Republicans," the president insisted. But political leaders need to "focus less on trying to satisfy one wing of one party," he said - an apparent reference to populist tea party conservatives.

FULL STORY
Post by:
Filed under: Barack Obama • Economy • Jobs • Politics
October 17th, 2011
12:13 PM ET

'Occupy' movement goes global as a symbol of shared economic frustration

Editor's note: iReporters all over the globe are showing us what Occupy Wall Street is like in their towns and cities through the Open Story: from the Aleutian Islands to Raleigh, North Carolina; from Reykjavik, Iceland, to Zadar, Croatia. Check out a map of the reports, videos and pictures here.

The Occupy Wall Street movement, which swept across the United States as thousands demanded that government institutions change to help fix a struggling economy, gained a major boost as the world began to come together in solidarity over shared economic frustrations.

As the sun rose on each country, one-by-one in the same way each stock market would open, protesters took to the streets. What began as a movement that was largely ignored by the mainstream media can't be dismissed anymore, not when thousands of people are sharing rally cries from Zucotti Park in New York to City Hall Square in Copenhagen, Denmark. Perhaps that's what organizers hoped for when they called the global day of protest "Solidarity Saturday."

But that global push may not end with the one day of solidarity. Some would say it has bolstered the ambitions and confidence of those who began Occupy Wall Street. It was a hint that, with the right support and organization, they can spread the message they've so desperately tried to get across: They want change, and they want it now. And even though the frustrations and complaints may differ from country to country, the theme remains that governments aren't handling economic crises properly.

The protests spread amid the growing financial troubles for several Western countries. Maybe that's why it's no surprise the global movement came during a G20 meeting of ministers and bankers in Paris. Finance ministers with the Group of 20 pledged Saturday to take "all necessary actions" to stabilize global markets and ensure that banks are capitalized.

Europeans turned out to protest amid debt troubles and austerity plans in Greece, Belgium, Italy, Spain, Ireland, Portugal and Germany. And in an increasingly intertwined global economy where Americans watch what happens in the Greek debt crisis, the world too is watching to see how the United States is handling its economic issues.

In the spirit of that solidarity, thousands stepped out to support the frustrations of the unemployed in the U.S. and, in some cases, to share their own grievances.

We're taking a look at scenes from across the world to find out more about the main frustrations being lodged and how the protests are drawing support from each other through the lenses of our reporters and iReporters around the world.

London

The movement gained traction in London especially because of the presence of WikiLeaks founder Julian Assange. Some Brits, who have not been shy to share their frustrations with their economic situation during riots months earlier, echoed American sentiments that governments need to focus not just on the rich but on the little man.

Amedeo d'Amore , an iReporter, was at a demonstration near St. Paul's Cathedral, where he said there were about 1,500 to 2,000 protesters along with a few hundred police officers.

Protesters gather at the London Stock Exchange on Saturday.

"Essentially, they are very disappointed by the current economic system," he said. "From my understanding, they feel that governments have done too much to protect companies while doing very little to assist the average citizen."

FULL POST

Post by:
Filed under: Canada • Economy • Europe • France • Iceland • Italy • Japan • Jobs • Julian Assange • Netherlands • Norway • Occupy Wall Street • Taiwan • U.S. • United Kingdom
Occupy Wall Street ignites in other cities: 'We want justice'
A sign Monday in Washington's Freedom Plaza expresses the sentiments of protesters.
October 10th, 2011
03:31 PM ET

Occupy Wall Street ignites in other cities: 'We want justice'

The Occupy Wall Street movement, an organic, rolling outcry that blames many of the nation's problems on corporate greed, continued to gain momentum Monday as it entered its fourth week.

Protests were planned for several cities Monday, including Atlanta and Oakland, California, according to activist websites.

Starting in New York and spreading almost daily, protesters have vowed to hunker down, or "occupy" stretches of public property to raise awareness of the myriad economic problems facing young and old Americans.

David Pitman, a protester in Somerville, Alabama, said the movement is not partisan and will remain resilient.  "We refuse to play party games, and we won't re-elect liars and scoundrels," he told CNN in an e-mail Monday. "And we want justice, impartially, (for) the rich AND poor."

Calling themselves the "99%,” demonstrators have sprouted a movement powered by social-networking sites and handwritten posters. Several posts on social-networking sites such as Facebook and Twitter called attention to rallies this week, organizing provisions for food, blankets and the like.

On Monday, the Rev. Al Sharpton broadcast his syndicated radio show in New York’s Zuccotti Park, the epicenter of the protests.

Also, Ben & Jerry’s issued a statement of solidarity with the Occupy Wall Street movement over the weekend, saying, “The inequity that exists between classes in our country is simply immoral."

“We realize that Occupy Wall Street is calling for systemic change. We support this call to action and are honored to join in this call to take back our nation and democracy,” the ice cream company, which is known for championing liberal causes, said on its website.

By the numbers

1,326  The number of cities where Occupy protests were planned as of Monday. Aspen, Colorado; South Bend, Indiana; and Fort Worth, Texas, were among several cities preparing for rallies Monday, according to OccupyTogether.org, an unofficial hub of the movement.

$1.9 million The amount in overtime pay that the movement has cost the New York City Police Department, NYPD Raymond Kelly told CNN affiliate NY1.

32 The number of protesters arrested early Monday outside the Iowa Capitol, state public safety department spokeswoman Jessie Lown said. "They did not have a permit," she said, adding that “they still have a right to gather there, sing songs, have picnics whatever. But they have a right to be there until 11 o’ clock, when the park closed and they were warned multiple times.”

Post by:
Filed under: Economy • Jobs • New York • U.S.
Overheard on CNN.com: Sick of corporate America's power
The atmosphere at this Occupy Wall Street protest in Denver was "electric with frustration," says iReporter Dylan Maxberry.
October 10th, 2011
01:28 PM ET

Overheard on CNN.com: Sick of corporate America's power

Comments of the morning

"Just about everyone interviewed is clearly saying they are sick of corporate America having the biggest voice in Washington. Did it occur to you that unemployment, homelessness, no insurance and cuts in education might actually be affecting your fellow human beings?"– omeany

"For starters, there needs to be term limits for Congress. Get the corporate lobbyist out of government. The elections need to based on a popular vote; one vote no more, no less." – catty123

Open Story: Occupy Wall Street protests

Sharpton to broadcast from Occupy Wall Street protests

Opinion: Why "occupy"? It's personal

As it enters its fourth week, the Occupy Wall Street movement continues its spread across the United States. Responding to criticism that the movement lacks clarity about its aims, many readers at CNN.com offered their take, focusing on lack of economic opportunity and the disenfranchisement of the middle class.

Courser01 said, "I've been unemployed for 17 months now. My unemployment will run out soon. I'm 52 years old now and going back to school. I fully expect to be homeless for the first year of a radiology program and perhaps the second, depending on funding. I'm unspeakably furious that the GOP's stated mission is to unseat President Obama. Seriously?! That's their biggest concern in the face of the worst economic crisis since the Great Depression?"

tldixon said, "I'm protesting the fact that corporate CEOs get huge bonus or severance packages even when they screw the pooch. I'm protesting my enormous tax burden when big corporations are allowed to weasel out of their taxes. We're protesting in Santa Fe, New Mexico, to show solidarity: social and fiscal justice for all!" FULL POST

Post by:
Filed under: Economy • Jobs • Overheard on CNN.com
Update: How you can help struggling family
Deborah Walker, center, shares a home with her son, David, 16, and mother, Katherine Woodruff, 82.
October 6th, 2011
03:34 PM ET

Update: How you can help struggling family

Editor's note: After this item first appeared in late August, many readers offered to assist the Walker family in various ways. Catholic Charities of the Diocese of San Diego is now connecting the family with sources of assistance. If you would like to contribute, please send checks, gift cards (Albertsons, Target, Walmart) or goods to: Case Management Services, Catholic Charities of San Diego, 349 Cedar St. Room 101, San Diego, CA 92101; include Deborah Walker's name in a note or on the check's memo line. Secure online donations also may be made through the Catholic Charities website. Clothing donations: David wears 38/34 pants, XL shirts and size 13 shoes.

[Original post, published August 24, 2011] Widowed mother Deborah Anne Walker was struggling financially when the economy turned sour in the fall of 2008. She is disabled and couldn't afford school clothes for her 13-year-old son, so she ended up having him wear her jeans, and other children teased him.

"You just have to keep thinking, 'OK, what is the one thing we have left that we can live without the most?' " she told CNN in September 2008. " ... I don't understand why, every time there is a crisis, it's the poor, disabled, children and seniors who end up having to pay for it."

Some kindhearted CNN.com users and members of her church came through with help for the family that fall, but the underlying economic conditions didn't improve, and Walker's situation may be even more dire now than it was then.

FULL POST

Post by:
Filed under: California • Economy • Jobs • Most Intriguing People • U.S.
October 3rd, 2011
10:23 AM ET

GOP pushes Obama on industry regulations

House Republicans tried to seize the political upper hand in the job-creation debate Monday, urging President Barack Obama to support GOP-sponsored legislation designed to ease industry burdens imposed by environmental regulations, among other things.

Speaker John Boehner, R-Ohio, sent a letter to the president noting that the Republican-controlled House is scheduled to consider two bills - an "EPA Regulatory Relief Act" requiring authorities to reissue certain rules in a "less burdensome manner," and a "Cement Sector Regulatory Relief Act" requiring regulators to reconsider rules affecting an industry critical to new construction.

"The federal government has a responsibility under the Constitution to regulate interstate commerce, and there are reasonable regulations that protect our children and help keep our environment clean," Boehner said in the letter.

FULL STORY
Post by:
Filed under: Barack Obama • Business • Economy • Jobs • John Boehner • Politics
September 29th, 2011
08:37 AM ET

First-time unemployment tumbles to lowest level since April

The number of Americans filing for their first week of unemployment benefits fell last week to the lowest level in nearly six months, possibly signaling slight improvement in the job market.

There were 391,000 initial unemployment claims filed in the week ended Sept. 24, the Labor Department said Thursday, down 37,000 from the prior week's revised 428,000.

The drop was much better than expected, as economists forecast initial claims to fall to 419,000, according to Briefing.com.

New claims for unemployment benefits have stuck around or above 400,000 since early April, a level economists often say is too high to signal the unemployment rate will come down anytime soon.

The recent drop to 391,000 maked the lowest level since the week of April 2, when 385,000 new claims came in.

For the country overall, the unemployment rate is still at 9.1%

READ FULL CNNMONEY.COM STORY
Hallmark is sorry for your loss - your job loss
September 26th, 2011
05:41 PM ET

Hallmark is sorry for your loss - your job loss

Getting laid off from a job has always been synonymous with the delivery of a pink slip, but thanks to Hallmark, the experience might also become associated with receiving another piece of paper in the mail.

With unemployment sitting at 9%, the ongoing layoffs across the country have persuaded the greeting card giant to begin rolling out a line of sympathy cards with words of encouragement for people who have lost their jobs in the tough economy.

The development of cards that deal with the various hardships of the times is nothing new to Hallmark. The company also produced cards aimed at individuals who struggled through events such as the Great Depression, the military draft, and losing loved ones on September 11, 2001.

“People in times of need will always need to connect and when the consumers have asked us for a way to connect in those difficult situations, we try to respond in an authentic way and we think that what the greeting card does is offer a bridge,” Hallmark’s creative director Derek McCracken told NPR’s All Things Considered.

FULL POST

Post by:
Filed under: Economy • Jobs
Bank of America plans to cut 30,000 jobs
September 12th, 2011
11:43 AM ET

Bank of America plans to cut 30,000 jobs

[Updated at 11:43 a.m.] Bank of America said Monday that it plans to eliminate 30,000 jobs as part of plan to save $5 billion.

The announcement came after Chief Executive Brian Moynihan outlined the bank's strategy at an investor conference in New York. Moynihan made no mention of layoffs during his presentation.

BofA has already disclosed plans to eliminate a total of 6,000 jobs this year. And it recently announced a management shakeup that effectively will split the bank into two units: one serving consumer and one serving commercial clients.

The bank said it expects a "significant portion" of the reduction in headcount to occur through attrition and the elimination of unfilled positions.

The move, part of an ongoing reorganization that BofA launched last year called the "Project New BAC," will play out over the next few years.

[Posted at 11:17 a.m.] Bank of America expects to cut 30,000 jobs in the 'next few years' as it moves to refocus its banking business.

This story is developing. CNNMoney.com is digging into the story and we'll bring you the latest details and information as soon as we get them.

FULL CNNMONEY.COM STORY
Post by:
Filed under: Business • Economy • Jobs
Your Take: Obama's job plan was 'more of the same' or 'light' of hope
President Obama told lawmakers that they should quickly pass his plan, the American Jobs Act.
September 9th, 2011
11:08 AM ET

Your Take: Obama's job plan was 'more of the same' or 'light' of hope

In a speech to a joint session of Congress, President Obama told lawmakers to "stop the political circus and actually do something to help the economy" by quickly approving a $447 billion package of measures so he can sign it into law.

"The people of this country work hard to meet their responsibilities. The question tonight is whether we'll meet ours," Obama said to applause. "The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy. The question is whether we can restore some of the fairness and security that has defined this nation since our beginning."

In detailing the plan, he noted that there was nothing controversial in the bill and that everything was paid for. He spoke specifically to the need to get the economy up and running, help those who are unemployed, and give incentives to businesses that hire the unemployed and groups that are chronically underemployed.

How did you feel about Obama's job plan? We took a look at widespread reader comments, iReport reactions and Twitter reactions to the speech to see whether Obama presented a plan you liked, that you felt would work, or if he disappointed you. More than 16,000 reader comments (as of this post) came flying in, along with numerous iReports and tweets.

Robert Hallman told iReport that as a teacher a substitute teacher in Fort Worth, Texas, he's going to be looking for jobs once he starts an alternative teaching program.

When the president spoke about his job plans, he specifically referenced jobs for military members and teachers, something Hallman was happy to hear.

"If there will be more teaching jobs, that would be good for me," he said. "I have friends in the military as well as some college friends who might benefit by increased job opportunities."

Hallman praised Obama's speech, especially in comparison to how he felt Obama handled the debt ceiling issue, and was hopeful that this speech and bill would change things around.

"During the Deficit Ceiling negotiations the President was a no show, a non participant. He just let the two parties bicker, fight, and whine just like a room full of Kindergartners. Tonight the President had a strong showing. He told the members of Congress that they NEED to work together because WE the the People demand nothing less," Hallman wrote. "Overall the President showed us something that we haven't seen in a long time. A politician with belief and conviction."

FULL POST

Post by:
Filed under: Auto Industry • Barack Obama • Congress • Democratic Party • Economy • Finance • Jobs • Military • Politics • Republican Party • Taxes
September 8th, 2011
07:46 AM ET

Thursday's live events

President Obama will speak to both houses of Congress tonight to discuss his plan to improve America's jobs outlook.  Watch CNN.com Live for continuing coverage of the president's address.

Today's programming highlights...

8:36 am ET - NASA GRAIL mission launch - NASA attempts to launch its mission to study the interior and gravitational field of the moon.

FULL POST


Filed under: Barack Obama • Jobs • Space
September 2nd, 2011
08:52 AM ET

No jobs added in August

Hiring slammed to a complete halt in August as several fresh challenges put the American economy in turmoil.

Employers added no jobs during the month and the unemployment rate remained at 9.1%, the Labor Department said Friday.

The report was partially distorted by 22,000 state workers in Minnesota returning to work after a temporary government shutdown in July, as well as 45,000 Verizon workers on strike in August.

Those effects made it hard to compare the August jobs number to the 85,000 jobs gained in July.

Still though, the overall figure is considered weak in comparison to job gains of about 200,000-a-month, earlier this year.

Economists typically estimate the nation needs to add about 150,000 jobs each month to keep up with population growth alone. It needs even stronger growth to recover the millions of jobs lost during the financial crisis.

FULL CNNMONEY.COM STORY
On the Radar: Obama bus tour, Aruba missing case, market turmoil
President Barack Obama discusses jobs in an event in Holland, Michigan, last week.
August 15th, 2011
06:12 AM ET

On the Radar: Obama bus tour, Aruba missing case, market turmoil

Three things you need to know today.

Obama on tour: President Barack Obama is expected to talk about strategies for creating jobs and improving the economy during a three-day bus tour through part of the Midwest beginning Monday.

"Many Americans are hurting badly right now.  Many have been unemployed for too long.  Putting these men and women back to work, and growing wages for everyone, has got to be our top priority," the president said in his weekly radio address on Saturday.

Obama is scheduled to take a 360-mile trip through Minnesota, Iowa and Illinois, meeting groups of small-business owners and other people at rural events. On Monday, he'll have town hall events in Cannon Falls, Minnesota, and Decorah, Iowa. (CNN's Wolf Blitzer takes you along for the ride on Obama's bus tour. Join Wolf for a one-on-one interview with the president, Tuesday at 6 p.m. ET on "The Situation Room.")

On Thursday, the president and his family will head to Martha's Vineyard, Massachusetts – his summer vacation site of choice for the third straight year.

Missing in Aruba: A U.S. man being held in Aruba in connection with the case of a missing American woman will appear in court Monday, a judicial official said.

An investigating magistrate could order Gary Giordano, 50, held for at least eight more days, order him to remain on the island or release him due to a lack of evidence, according to Aruban Solicitor General Taco Stein.

Giordano was arrested by Aruban police on August 5, three days after Robyn Gardner, 35, was last seen near Baby Beach on the western tip of the Caribbean island.

Financial markets: This week could be just as bumpy as last week's wild ride, as Wall Street continues to deal with the fallout of S&P's downgrade, the problems in Europe and the fate of the U.S. economy, CNNMoney reports.

On Monday, investors will get the Empire Statement manufacturing index at 8:30 a.m. ET. The manufacturing survey fell into negative territory in July, which means manufacturing activity contracted during the period. Investors will be looking to see if that trend continues for a second month.

Retailers reporting their results Monday include Urban Outfitters and home improvement chain Lowe's. Analysts expect that Lowe's earned 66 cents a share and Urban Outfitters earned 32 cents a share.

Post by: ,
Filed under: Barack Obama • Business • Crime • Economy • Jobs • On the Radar • Politics
August 11th, 2011
08:59 AM ET

Unemployment claims fall to 4-month low

The number of first-time filers for unemployment benefits fell last week, dipping below 400,000 for the first time in four months.

There were 395,000 initial unemployment claims filed in the week ended Aug. 6, the Labor Department said Thursday, down 7,000 from an upwardly revised 402,000 the prior week.

Economists surveyed by Briefing.com were expecting jobless claims to rise to 409,000.

The figure had stayed above 400,000 since early April.

FULL CNNMONEY.COM STORY
« older posts
newer posts »