Business & Education

Economy
12:27 pm
Fri May 3, 2013

Reality Check: Strapped States Cutting Unemployment Benefits

California saw unemployment benefit cuts of 18 percent go into effect this week, reducing checks for more than 400,000 people.
Douglas Dickens iStockphoto.com

The jobs report for April showed some improvement — but not much — in the unemployment rate and the total number of unemployed workers.

It's not great news for people looking for work, and it's also not great for states. After years of persistently high unemployment, states have drained their unemployment trust fund accounts.

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Economy
11:49 am
Fri May 3, 2013

The Changing Face Of The Working Poor

The latest employment figures are out and they show gains in hiring. The Wall Street Journal's Sudeep Reddy joins host Michel Martin to talk about the report, and the millions of working Americans who still fall below the poverty line.

The Salt
11:09 am
Fri May 3, 2013

How A Distillery Ages Bourbon In Days, Not Years

A bottle of Cleveland Whiskey's bourbon sits on a shelf with empty bottles at the company's distillery.
Courtesy of David Kidd

Originally published on Fri May 3, 2013 1:54 pm

When it comes to bourbon, Tom Lix doesn't believe in age discrimination. Most bourbons might age in the barrel for eight to 12 years or more, but Lix figures his are ready to drink in less than a week.

Lix makes Cleveland Whiskey, a new brand of bourbon that exemplifies two major trends in American whiskey-making today: the desire to speed up the process and the effort to establish a local identity.

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The Two-Way
8:47 am
Fri May 3, 2013

Bangladesh Fears Exodus Of Western Retailers

Relatives react after identifying the body of a loved one who was killed in last week's building collapse in Savar, on the outskirts of Dhaka, Bangladesh.
Munir Uz Zaman AFP/Getty Images

Originally published on Fri May 3, 2013 11:46 am

The Walt Disney Co.'s decision to end its apparel production in Bangladesh after more than 500 people died in the collapse of a garment factory complex has sparked fears of a mass exodus of Western retailers.

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The Two-Way
7:42 am
Fri May 3, 2013

165,000 Jobs Added In April, Jobless Rate Fell To 7.5 Percent

Waiting for work: Job seekers lined up last month at the 25th Annual CUNY big Apple Job and Internship Fair in Manhattan.
Spencer Platt Getty Images

Originally published on Fri May 3, 2013 9:05 am

(Most recent update: 10 a.m. ET.)

The nation's jobless rate edged down to 7.5 percent in April from 7.6 percent in March and employers added 165,000 jobs to their payrolls last month, the Bureau of Labor Statistics reported Friday morning.

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Business & Education
7:36 am
Fri May 3, 2013

Univ. of South Alabama Marks 50th Anniversary

The University of South Alabama celebrates 50 years.
usa50.southalabama.edu

The University of South Alabama is marking the 50th anniversary of its founding.


The school will hold a celebration on campus in Mobile on Friday night to commemorate its start in 1963.


Gov. Robert Bentley will attend, and officials are planning a special recognition for President Gordon Moulton, who is retiring on July 1.


State lawmakers approved legislation authorizing the school on May 3, 1963, and classes started the next year.


The university has since awarded more than 75,000 degrees, and it now has more than 15,000 students.

The Two-Way
6:02 am
Fri May 3, 2013

Plodding Along Or Picking Up Speed? News On Job Growth Due

Looking for work: The scene at a job fair in New York City earlier this year. Figures on job growth and unemployment in April are due Friday morning.
Shannon Stapleton Reuters /Landov

Originally published on Fri May 3, 2013 7:53 am

Update at 8:35 a.m. ET. Better Than Expected:

165,000 Jobs Added In April, Jobless Rate Fell To 7.5 Percent

Our original post:

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Business
3:41 am
Fri May 3, 2013

Post-Bankruptcy, Kodak Will Be Commercial Printing Business

Originally published on Fri May 3, 2013 11:14 am

Transcript

DAVID GREENE, HOST:

Kodak expects to emerge from bankruptcy this year as a new company with a new focus. The one-time photo giant finds itself operating in a more competitive and diversified market.

From member station WXXI in Rochester, New York Kate O'Connell reports.

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Economy
3:41 am
Fri May 3, 2013

Economists Predict April's Jobless Rate Will Remain Steady

Originally published on Fri May 3, 2013 11:14 am

The Labor Department's monthly employment report is issued Friday morning. Economists are predicting that more than 100,000 jobs were added last month, but not enough to change the jobless rate of 7.6 percent.

Business
3:41 am
Fri May 3, 2013

Business News

Originally published on Fri May 3, 2013 11:14 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news begins with sky-high airline fees.

First United did it, then U.S. Airways followed suit, and now Delta and American say they too are raising the fee for changing a domestic flight reservation to 200 bucks - that is up from 150.

Business
3:41 am
Fri May 3, 2013

The Last Word In Business

Originally published on Fri May 3, 2013 11:14 am

Within an hour of signing up Thursday, the 82-year-old Berkshire Hathaway CEO had more than 50,000 followers. His first tweet read: "Warren is in the house."

Latin America
3:41 am
Fri May 3, 2013

Obama Encourages U.S., Mexico To Focus On Economic Relationship

Originally published on Fri May 3, 2013 11:14 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION from NPR News. Good morning. I'm David Greene. President Obama says it is time to focus on the strong economic relationship between the United States and Mexico and not get bogged down on more contentious issues like cooperation on the war on the drugs.

Obama made his comments yesterday as he began a two-day visit to Mexico. He flies on to Costa Rica later today. NPR's Carrie Kahn reports.

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Your Money
2:22 am
Fri May 3, 2013

John Bogle's Latest Advice: A 'Gatekeeper' For Your Nest Egg

John Bogle, founder of The Vanguard Group and president of the Bogle Financial Markets Research Center, says the government should set standards to protect Americans' retirement savings.
Mark Lennihan AP

Originally published on Fri May 3, 2013 11:14 am

Mutual funds, which have topped $13 trillion, are the way many Americans interact with the financial markets. You may have come across mutual funds when you set up an individual retirement account or a company-sponsored retirement account like a 401(k).

A "basket" of stocks, bonds or both, mutual funds are seen as safer to own than individual stocks. Having many in one basket spreads the risk, especially over time. But high fees, lack of diversification, or a focus on short-term gains can put your nest egg at risk.

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Planet Money
4:47 pm
Thu May 2, 2013

Millions Of Americans Are Leaving The Workforce. Why?

Alyson Hurt National Public Radio

Originally published on Fri May 3, 2013 7:02 am

Earlier this year, the percentage of Americans who are working or looking for work fell to its lowest level since 1979.

The figure (wonks call it labor force participation rate) rose for decades, as more women entered the workforce. It started falling over a decade ago. And the decline is now being driven by a bunch of different factors — some of which are scary and recessiony, and some of which are not.

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Economy
4:27 pm
Thu May 2, 2013

Housing Recovery Lifts Other Sectors, Too

Chevy trucks line the lot of a dealer in Murrysville, Pa. Sales were up by double digits at Chrysler, General Motors and Ford last month.
Gene J. Puskar AP

Originally published on Thu May 2, 2013 5:00 pm

The government's employment report for April comes out Friday. It's an important measure of the economy's health and the advance signals have been mixed. One report this week showed layoffs falling to a five-year low, but another suggests disappointing jobs creation.

At least one sector is providing some positive news for the job market: housing.

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