Unemployment rate watchers noted that summer is traditionally a slow season for hiring, but the economy continues to show signs of slow progress. The unemployment rate stayed at 9.5 percent in a jobs report issued Friday.
From Friday's GDP report: Imports are surging. Jobs growth is slowing. Regulators may need to lighten their grip. Until November's midterm elections, politics will color economic reports.
Consumer confidence fell almost ten percent in June. The consumer confidence index recorded the biggest drop since February.
The average US price of regular gasoline is now $2.75 a gallon, down from $2.87 a month ago. The last time prices at the gas pump fell leading up to Memorial Day was in 2005.
The Dow average was up by more than 340 points as of early Monday afternoon. Investors were relieved to see European leaders agree on a Greece debt plan.
GDP grew by 3.2 percent in the first quarter, indicating improvement in the US economy. Consumer spending rose by 3.6 percent.
The February jobs report showed the unemployment rate steady at 9.7 percent and 36,000 jobs lost. Hiring may get a boost in March.
US Gross Domestic Product (GDP) grew at a 5.6 percent rate last quarter, the biggest economic expansion in six years. But economists say that doesn't augur a growth in jobs any time soon.
Economic recovery in 2010 is likely to fall short on job growth. But higher jobless figures might not be a bad thing – if it signals people are looking for jobs again.
Retailers took a hit on Christmas shopping sales because of the snowstorm, though online sales surged. The storm also took a financial toll on towns that had to dig into their snowplowing budget early.