par Djaouida Sam 7 Juin 2008 - 14:31[color:4d0b=#666]NowNow playing: Slate V, a video-only site from the world's leading online magazine. Visit Slate V at www.slateV.com. playing: Slate V, a video-only site from the world's leading online magazine. Visit Slate V at www.slateV.com.
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[color:4d0b=#666]today's papers
Double trouble
By Ben Whitford
[color:4d0b=#c00]Posted Saturday, June 7, 2008, at 4:12 AM ET
Economic doom and gloom is the order of the day, after surging oil prices and a startling jump in the unemployment rate sparked a panicky sell-off on Wall Street. New statistics show that the US economy sloughed 49,000 jobs last month - less than some had expected, but enough to send oil prices through the roof as traders rushed to the spigot in search of safe investments. The New York Times reports that the turmoil sent stock prices tumbling, with the Do[color:4d0b=#666]today's papers
Double trouble
By Ben Whitford
[color:4d0b=#c00]Posted Saturday, June 7, 2008, at 4:12 AM ET
Economic doom and gloom is the order of the day, after surging oil prices and a startling jump in the unemployment rate sparked a panicky sell-off on Wall Street. New statistics show that the US economy sloughed 49,000 jobs last month - less than some had expected, but enough to send oil prices through the roof as traders rushed to the spigot in search of safe investments. The New York Times reports that the turmoil sent stock prices tumbling, with the Dow Jones, the Nasdaq and the Standard and Poor all falling by around 3 percent; that stoked fears that the US might still be on course for a full-blown economic slump. "We're in a borderline recession situation by any standard," one economic forecaster told the LA Times.
The unemployment rate reached 5.5 percent last month, up half a percentage point from April, according to new Labor Department statistics; that marks the fifth consecutive month of decline, and the largest single-month swing in more than two decades. The Washington Post says that joblessness rose across race and gender, but was mostly fueled by an unusually large surge of teens and young people into the workforce. The Wall Street Journal cautions that April and May are traditionally volatile months for the labor market; still, it notes, the combination of high unemployment and rising food and energy prices has pushed the "misery index" - the sum of unemployment and inflation rates - to its highest level since the recession of the early 1990s.
To continue reading, click here.
w Jones, the Nasdaq and the Standard and Poor all falling by around 3 percent; that stoked fears that the US might still be on course for a full-blown economic slump. "We're in a borderline recession situation by any standard," one economic forecaster told the LA Times.
The unemployment rate reached 5.5 percent last month, up half a percentage point from April, according to new Labor Department statistics; that marks the fifth consecutive month of decline, and the largest single-month swing in more than two decades. The Washington Post says that joblessness rose across race and gender, but was mostly fueled by an unusually large surge of teens and young people into the workforce. The Wall Street Journal cautions that April and May are traditionally volatile months for the labor market; still, it notes, the combination of high unemployment and rising food and energy prices has pushed the "misery index" - the sum of unemployment and inflation rates - to its highest level since the recession of the early 1990s.
To continue reading, click here.
[color:4d0b=#666]
[color:4d0b=#666]today's papers
Double trouble
By Ben Whitford
[color:4d0b=#c00]Posted Saturday, June 7, 2008, at 4:12 AM ET
Economic doom and gloom is the order of the day, after surging oil prices and a startling jump in the unemployment rate sparked a panicky sell-off on Wall Street. New statistics show that the US economy sloughed 49,000 jobs last month - less than some had expected, but enough to send oil prices through the roof as traders rushed to the spigot in search of safe investments. The New York Times reports that the turmoil sent stock prices tumbling, with the Do[color:4d0b=#666]today's papers
Double trouble
By Ben Whitford
[color:4d0b=#c00]Posted Saturday, June 7, 2008, at 4:12 AM ET
Economic doom and gloom is the order of the day, after surging oil prices and a startling jump in the unemployment rate sparked a panicky sell-off on Wall Street. New statistics show that the US economy sloughed 49,000 jobs last month - less than some had expected, but enough to send oil prices through the roof as traders rushed to the spigot in search of safe investments. The New York Times reports that the turmoil sent stock prices tumbling, with the Dow Jones, the Nasdaq and the Standard and Poor all falling by around 3 percent; that stoked fears that the US might still be on course for a full-blown economic slump. "We're in a borderline recession situation by any standard," one economic forecaster told the LA Times.
The unemployment rate reached 5.5 percent last month, up half a percentage point from April, according to new Labor Department statistics; that marks the fifth consecutive month of decline, and the largest single-month swing in more than two decades. The Washington Post says that joblessness rose across race and gender, but was mostly fueled by an unusually large surge of teens and young people into the workforce. The Wall Street Journal cautions that April and May are traditionally volatile months for the labor market; still, it notes, the combination of high unemployment and rising food and energy prices has pushed the "misery index" - the sum of unemployment and inflation rates - to its highest level since the recession of the early 1990s.
To continue reading, click here.
w Jones, the Nasdaq and the Standard and Poor all falling by around 3 percent; that stoked fears that the US might still be on course for a full-blown economic slump. "We're in a borderline recession situation by any standard," one economic forecaster told the LA Times.
The unemployment rate reached 5.5 percent last month, up half a percentage point from April, according to new Labor Department statistics; that marks the fifth consecutive month of decline, and the largest single-month swing in more than two decades. The Washington Post says that joblessness rose across race and gender, but was mostly fueled by an unusually large surge of teens and young people into the workforce. The Wall Street Journal cautions that April and May are traditionally volatile months for the labor market; still, it notes, the combination of high unemployment and rising food and energy prices has pushed the "misery index" - the sum of unemployment and inflation rates - to its highest level since the recession of the early 1990s.
To continue reading, click here.
