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

Economy Watch: June 27, 2010 - July 3, 2010

Behind the unemployment rate: Private-sector hiring still weak

As we do every month, let's unpack the data buried in today's June jobs report from the Labor Department's Bureau of Labor Statistics: Headline numbers: The official U.S. unemployment rate dropped from 9.7 percent to 9.5 percent. About 125,000 jobs...

By Frank Ahrens  |  July 2, 2010; 2:50 PM ET  |  Permalink  |  Comments (8)
Categories:  Data , Unemployment  
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Stocks head downward into mild sell-off ahead of holiday weekend

Stocks have turned negative into a mild sell-off following this morning's jobs report and ahead of the long holiday weekend. The Dow is down .9 percent. The S&P 500 is down .9 percent. The tech-heavy Nasdaq is down .8 percent....

By Frank Ahrens  |  July 2, 2010; 1:25 PM ET  |  Permalink  |  Comments (0)
Categories:  Wall Street  
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June unemployment rate drops to 9.5 percent but 125,000 jobs lost

The official June unemployment rate came in at 9.5 percent, down from 9.7 percent in May, the lowest number since last summer. The economy shed 125,000 jobs last month, BUT that includes letting go of 225,000 temporary U.S. Census workers....

By Frank Ahrens  |  July 2, 2010; 8:41 AM ET  |  Permalink  |  Comments (50)
Categories:  Unemployment  
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Economic data out today suggest economic recovery cannot continue without government help

UPDATED at 4:16 p.m. with market closing numbers: A raft of bad economic data out this morning pushed Wall Street toward its third bad day in a row, though stocks trimmed some of their earlier losses. A terrible home sales...

By Frank Ahrens  |  July 1, 2010; 4:16 PM ET  |  Permalink  |  Comments (146)
Categories:  Wall Street  
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June auto sales: GM, Ford down 13%, Chrysler down 12%

UPDATED with more automakers reporting at 1:45 p.m.: Detroit's Big Three automakers saw June sales drop between 12 and 13 percent as auto buyers pulled back last month. General Motors' June sales dropped 13 percent compared with May, a sign...

By Frank Ahrens  |  July 1, 2010; 1:45 PM ET  |  Permalink  |  Comments (19)
Categories:  Autos  
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New weekly jobless claims rise by 13,000, surprising forecasters

New weekly jobless claims filed last week rose by 13,000 to 472,000, surprising forecasters who predicted a slight drop from the week before. The four-week moving average of new jobless claims, which smooths out week-to-week volatility, rose by 3,250 to...

By Frank Ahrens  |  July 1, 2010; 8:56 AM ET  |  Permalink  |  Comments (19)
Categories:  Unemployment  
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Another last-hour stock sell-off ends second quarter in a funk

In the first 30 minutes of trading on Wednesday, the Dow is up 0.17 percent. The broader S&P 500 is up 0.43 percent. The tech-heavy Nasdaq is up 0.73 percent.

By Frank Ahrens  |  June 30, 2010; 4:10 PM ET  |  Permalink  |  Comments (3)
Categories:  Wall Street  
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Video: Talking about the Tuesday market crash, a third Great Depression and consumer spending

Here's me taking on the news of the day and answering your questions today....

By Frank Ahrens  |  June 30, 2010; 2:14 PM ET  |  Permalink  |  Comments (0)
Categories:  Video  
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Report: Private sector added only 13,000 jobs in June

The private sector of the U.S. economy added only 13,000 jobs in June, according to ADP employment services, a disappointing number that came in below estimates and portends bad things from the government's June jobs report due out Friday. In...

By Frank Ahrens  |  June 30, 2010; 8:48 AM ET  |  Permalink  |  Comments (36)
Categories:  Unemployment  
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Global worries depress U.S. stocks

UPDATED at 4:14 p.m.: Wall Street staged a massive sell-off today, as global economic worries sent U.S. stocks into a nosedive. The Dow closed off its lows of the day but still shed nearly 270 points, closing down 2.7 percent...

By Frank Ahrens  |  June 29, 2010; 4:14 PM ET  |  Permalink  |  Comments (59)
Categories:  Wall Street  
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Electric car Tesla launches IPO at $17 per share, beating expectations

Electric-car company Tesla Motors launched its IPO today, becoming the first U.S. automaker to go public since Ford did so in 1956. Tesla is listed on the tech-heavy Nasdaq and priced at $17 per share, raising $226 million in its...

By Frank Ahrens  |  June 29, 2010; 9:57 AM ET  |  Permalink  |  Comments (5)
Categories:  Wall Street  
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Part of Sarbanes-Oxley struck down, but is the rest of the law worth keeping?

The Supreme Court struck down one element of the Sarbanes-Oxley legislation today, saying that some federal provisions that created the Public Company Accounting Oversight Board, a private regulatory body meant to discipline accountants who work with big firms, was unconstitutional....

By Frank Ahrens  |  June 28, 2010; 1:46 PM ET  |  Permalink  |  Comments (1)
Categories:  Congress  
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May income, spending and personal savings all rise

May personal income rose 0.4 percent and consumer spending rose 0.2 percent, numbers that came in line with expectations and that suggest the recovery creeps forward. Also, the May personal savings rate was 4 percent, the highest figure since September...

By Frank Ahrens  |  June 28, 2010; 9:05 AM ET  |  Permalink  |  Comments (1)
Categories:  Data  
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