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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: May 30, 2010 - June 5, 2010

Stocks lose 3% following bad May jobs report, more European debt troubles

UPDATED at 6:36 p.m. to fix stop-loss/margin-call error: Stocks dove in a massive sell-off in the last hour of trading, hitting their lowest levels since February. Wall Street responded to a discouraging May jobs report and more European debt troubles,...

By Frank Ahrens  |  June 4, 2010; 6:36 PM ET  |  Permalink  |  Comments (132)
Categories:  Data , Wall Street  
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May jobs report analysis: Can we make the Census go on forever?

As I do every month, I like to unpack the fresh jobs report data released by the government to get behind the headline numbers. Today's headline numbers: The May official unemployment number dropped to 9.7 percent from 9.9 percent in...

By Frank Ahrens  |  June 4, 2010; 3:15 PM ET  |  Permalink  |  Comments (0)
Categories:  Data , Unemployment  
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Video: Talking about oil spill, BP's future, unemployment, auto sales

{"movie":"http://media10.washingtonpost.com/wp/swf/OmniPlayer.swf","id":"oplayer-video-swf","width":"454", height:"255","vars":{"title":"Economy Dept. with Frank Ahrens -- Live video discussion on the latest business news","flvStreamingServer":"rtmp://cp39416.live.edgefcs.net/live/","stillURL":"http://media.washingtonpost.com/media/images/16-9_video_454x255.jpg","flvStreamingServer":"rtmp://cp18263.edgefcs.net/ondemand","flvURL":"2010-06/235176/250770","autoStart":"false","clickThru":"http://live.washingtonpost.com/economy-dept-06-02-10a.html","playAds":"false","adZone":"wpni.video.politics/briefing"},"params":{"allowFullScreen":"true"} } Here's me, talking about whether crippled BP is a takeover target, if unemployment is cresting and other economic topics of interest....

By Frank Ahrens  |  June 3, 2010; 4:48 PM ET  |  Permalink  |  Comments (0)
Categories:  Video  
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Private sector adds at least 55,000 jobs in May; 10,000 fewer new jobless claims filed last week

The private sector added at least 55,000 jobs in May, offering an encouraging preview for tomorrow's government employment report. Also, the government said the number of new jobless claims filed last week dropped by 10,000. Both sets of data come...

By Frank Ahrens  |  June 3, 2010; 8:55 AM ET  |  Permalink  |  Comments (14)
Categories:  Unemployment  
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Ford makes it official: Storied Mercury brand to be axed

Ford said this afternoon that it would kill its low-sales Mercury brand by the end of the year, ending the badge's 71-year run. The car was a creation of Henry Ford's son, Edsel, who developed it in 1939 to fill...

By Frank Ahrens  |  June 2, 2010; 4:16 PM ET  |  Permalink  |  Comments (34)
Categories:  Autos  
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Stocks rally to close, recoup week's losses

UPDATED at 4:04 p.m.: Stocks rallied to a strong close today, recouping most of their losses on the week. This is good momentum heading into two days heavy of economic data that will give a picture of where the U.S....

By Frank Ahrens  |  June 2, 2010; 4:04 PM ET  |  Permalink  |  Comments (2)
Categories:  Data , Wall Street  
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Ford, GM, Chrysler report double-digit May sales; Toyota up 7%

UPDATED with other automakers at 2:53 p.m.: Chrysler said its May sales were up 33 percent compared to May 2009, which sounds like a great number -- and it's not bad -- but one-third of its sales came from low-cost...

By Frank Ahrens  |  June 2, 2010; 2:53 PM ET  |  Permalink  |  Comments (6)
Categories:  Autos  
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Stocks suffer big sell-off in last 30 minutes

UPDATED at 4:13 p.m.: Stocks started June like they finished May: volatile and in a big sell-off. Stocks overcame a tough opening to turn positive and remain so for most of the day until a last-hour sell-off pushed the Dow...

By Frank Ahrens  |  June 1, 2010; 4:13 PM ET  |  Permalink  |  Comments (1)
Categories:  Data , Wall Street  
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Feds open floormat-entrapment probe on 2010 Ford Fusion, Mercury Milan

UPDATED to correct spelling of Mercury Milan: The federal government has opened an investigation into possible floormat gas-pedal entrapment in the 2010 Ford Fusion and Mercury Milan. According to the filing at the National Highway Traffic Safety Administration -- which...

By Frank Ahrens  |  June 1, 2010; 2:15 PM ET  |  Permalink  |  Comments (9)
Categories:  Autos  
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April construction spending surges, fueled by now-ended tax credits

April construction spending made its biggest one-month jump in nearly 10 years, fueling hopes of recovery in a flagging U.S. industry. But the boost was probably caused by the home buyer tax-credit that expired at the end of April, which...

By Frank Ahrens  |  June 1, 2010; 11:55 AM ET  |  Permalink  |  Comments (2)
Categories:  Data  
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