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    U.S. Economy Headlines
    Oil's biggest day yet drags down stocks (AP)

    A motorist gets into her car after buying gas at a station in Little Rock, Ark., Friday, June 6, 2008. Oil prices shot up more than $11 to a new record above $139 Friday after Morgan Stanley predicted prices would hit $150 by the Fourth of July. The unprecedented jump is all but certain to drive gas prices well past the $4 mark in the coming weeks.  (AP Photo/Danny Johnston)AP - Oil prices made their biggest single-day leap ever Friday, dragging the Dow Jones industrials down nearly 400 points and raising the once-unthinkable prospect of $150 oil and more record gas prices by the Fourth of July.


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    Sat, 07 Jun 2008 06:15:25 GMT - Yahoo! News: Economy News
    Jobs cut for 5th straight month, unemployment rate jumps (Reuters)
    Reuters - U.S. employers shed jobs for a fifth straight month in May and the unemployment rate jumped to its highest in more than 3-1/2 years, partly because more people were trying to come back into the workforce, a Labor Department report on Friday showed. -- read full article
    Fri, 06 Jun 2008 12:36:49 GMT - Yahoo! News: Economy News
    Shock US unemployment jump raises warning flags (AFP)

    A job seeker searches for employment opportunities in Arlington Heights, Illinois in 2004. The US unemployment rate jumped unexpectedly by a half percentage point to 5.5 percent in May, the steepest increase in more than two decades, Labor Department data showed Friday.(AFP/Getty Images/File/Tim Boyle)AFP - US unemployment in May unexpectedly surged by the strongest increase in two decades, Labor Department data showed Friday, raising warning flags that the economy is headed in the wrong direction.


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    Fri, 06 Jun 2008 15:42:36 GMT - Yahoo! News: Economy News
    Oil surges, dollar weakens on U.S. payroll report (Reuters)

    European Central Bank President Jean-Claude Trichet speaks during a news conference in Frankfurt, June 5, 2008. (Irving Villegas/Reuters)Reuters - Oil surged, the dollar weakened and government debt turned strongly higher on Friday after an unexpected jump in the U.S. unemployment rate rattled investors who believe the American economy was recovering.


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    Fri, 06 Jun 2008 13:32:49 GMT - Yahoo! News: Economy News
    Euro surges close to 1.57 dollars after US jobs report (AFP)

    A euro coin and one US dollar bill. The European single currency jumped close to 1.57 dollars as traders digested news that the US unemployment rate soared to 5.5 percent in May.(AFP/File/Joel Saget)AFP - The European single currency jumped close to 1.57 dollars on Friday as traders digested news that the US unemployment rate soared to 5.5 percent in May.


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    Fri, 06 Jun 2008 14:29:43 GMT - Yahoo! News: Economy News
    Jobless rate leaps to 3-1/2 year high in May (Reuters)

    The U.S. unemployment rate jumped by the most in 22 years in May, reaching its highest level in more than 3-1/2 years and underscoring the recessionary risk the economy still faces. (Graphic/Reuters)Reuters - The U.S. unemployment rate surged to 5.5 percent in May, its highest in more than 3-1/2 years, as the barely growing economy lost jobs for the fifth straight month.


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    Fri, 06 Jun 2008 16:21:29 GMT - Yahoo! News: Economy News
    Minivan sales slow, hit by gas prices and image (AP)

    Unsold 2008 Town & Country minivans sit stacked up on the lot at a Chrysler-Jeep dealership in the southeast Denver suburb of Centennial, Colo., on Sunday, April 27, 2008. The Auburn Hills-based maker of Chrysler, Dodge and Jeep vehicles on Monday, May 5, 2008, announced an offer that caps the price of gasoline at $2.99 a gallon for three years for people who buy or lease new vehicles from Wednesday through June 2. The offer covers most of its models and is based on 12,000 miles of driving per year and the vehicle's government fuel economy rating. (AP Photo/David Zalubowski)AP - Asked recently how the U.S. minivan market has been faring, Nissan's Dominique Thormann had a concise answer.


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    Fri, 06 Jun 2008 17:03:06 GMT - Yahoo! News: Economy News
    Treasurys rebound after jump in unemployment rate (AP)
    AP - Treasury prices rebounded Friday as stocks plunged, with investors returning to less risky assets after a government report revealed a significant jump in the unemployment rate and as oil surged to new record highs. -- read full article
    Fri, 06 Jun 2008 17:25:41 GMT - Yahoo! News: Economy News
    Bush:Weak jobs numbers consistent with slow economy (Reuters)
    Reuters - President George W. Bush on Friday said the weak data in the government's employment report for May was consistent with an economy facing a slow growth period. -- read full article
    Fri, 06 Jun 2008 18:21:57 GMT - Yahoo! News: Economy News
    Data, oil fan stagflation fears, fuel sell-off (Reuters)

    Traders work on the floor of the New York Stock Exchange April 16, 2008. (Keith Bedford/Reuters)Reuters - U.S. stocks slid on Friday on renewed fears the U.S. economy faces 1970s-style stagflation after government data showed the unemployment rate jumped the most in 22 years in May and the price of oil hit a record.


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    Fri, 06 Jun 2008 18:36:48 GMT - Yahoo! News: Economy News
    Unemployment rate jumps to 5.5 percent in May (AP)

    Job seekers wait on line stretching around a block to attend the Monster.com and National Career Fairs  job fair in New York, Wednesday May 28 , 2008. The nation's unemployment rate jumped to 5.5 percent in May, the biggest monthly rise since 1986, as nervous employers cut 49,000 jobs.  (AP Photo/Bebeto Matthews)AP - The nation's unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs.


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    Fri, 06 Jun 2008 18:43:50 GMT - Yahoo! News: Economy News
    Oil soars, gasoline edges closer to $4 at the pump (AP)

    A group of foreign tourists look at a panoramic view of the Inca's citadel of Macchu Picchu, in Cuzco, Peru, in this March 26, 2008 file photo. Paolo Greer, a retired Alaska oil pipeline foreman, who has been digging through files in the United States and Peru for 30 years, said he has found maps and documents from the U.S. Library of Congress and several Peruvian archives showing that a German businessman had purchased land across from Machu Picchu in 1867, more than four decades before Hiram Bingham's rediscovery, and even set up a company to plunder the site.(AP Photo/Martin Mejia)AP - Oil prices soared Thursday as the dollar swooned and prices at the pump edged to within a penny of $4 a gallon.


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    Thu, 05 Jun 2008 19:55:37 GMT - Yahoo! News: Economy News
    Rates on 30-year mortgages rise to three-month high (AP)

    Ed McMahon arrives at the premiere of The Simpsons Movie in Los Angeles, in this July 24, 2007 file photo. McMahon, who for decades appeared as Johnny Carson's sidekick on 'The Tonight Show,' is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills home, according to published reports. McMahon, 85, has been unable to work as a pitchman for various products since he broke his neck 18 months ago, said his spokesman, Howard Bragman. He was $644,000 behind on payments on $4.8 million in mortgage loans when a unit of Countrywide Financial Corp. filed a default notice Feb. 28 with the Los Angeles County Recorder's Office, The Wall Street Journal first reported late Tuesday June 3, 2008. (AP Photo/Matt Sayles, File)AP - Rates on 30-year mortgages edged up this week to the highest level since March as investors worried about inflation threats.


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    Thu, 05 Jun 2008 19:31:04 GMT - Yahoo! News: Economy News
    Retailers, oil companies fuel market rally (Reuters)

    Traders work on the floor of the New York Stock Exchange April 16, 2008. (Keith Bedford/Reuters)Reuters - U.S. stocks rose the most in more than a month on Thursday after Wal-Mart and other retailers posted stronger-than-expected May sales and data showed a surprising fall in weekly jobless claims, spurring optimism about the economy's health.


    -- read full article
    Thu, 05 Jun 2008 20:36:33 GMT - Yahoo! News: Economy News
    Treasurys dip after ECB, drop in jobless claims (AP)
    AP - Treasury prices fell Thursday after the European Central Bank suggested rising inflation might lead it to raise interest rates soon. -- read full article
    Thu, 05 Jun 2008 21:30:03 GMT - Yahoo! News: Economy News
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