Newspaper Page Text
48 |
Business
& Industry
Unemployment
rises as jobs slow
for third month
By Don Lee
MCT
WASHINGTON —
The nation’s unemploy¬
ment rate rose for the first
time in nearly a year, to
8.2 percent in May. as the
economy added a disap¬
pointingly small number
of jobs for the third
straight month.
The government said
Friday that employers
created on net just
69.000 jobs last month
— less than half of
what analysts were
expecting. What’s more,
the Labor Department
revised downward the
job-growth numbers for
the prior two months,
putting the average
monthly job growth at
96.000 for the last three
months. In the prior
three -month period,
from December to
February, the economy
added an average of
252.000 jobs a month.
The May jobless rate
ticked up from 8.1 per¬
cent in April, after
steadily declining since
last August, when the
unemployment figure
was 9.1 percent.
The latest data are
certain to heighten fears
that the economy has
slipped into a danger¬
ous spring stall similar
to the prior two years
— and it could create
trouble for President
Obama and his re-elec¬
tion bid. The president
was scheduled to visit a
Honeywell manufactur¬
ing facility in
Minnesota on Friday,
where he was expected
to talk about creating
more job opportunities
for veterans.
With Europe still on
the ropes with its debt
problems, and the big
economics in China and
India slowing, global
economic growth is
Weakening and presents
a serious threat to the
American economy.
The government said
Thursday that U S.
gross domestic product.
o[r economic output,
grew at a sluggish 19
percent annualized rate
i(i the First quarter,
Friday’s jobs report
sarowed weakening
activity in a wide vari¬
ety of industries.
Construction payrolls,
Which got a lift from
the unseasonably warm
Wfntcr weather, fell by
2$,000 in May. Hiring
stalled at professional
and business services.
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FORSYTH COUNTY NEWS | fwsythiwws com
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which include many
higher-paying jobs,
such as accounting and
engineering services.
Government continued
to shed jobs, eliminat¬
ing an additional 1.1,000
jobs last month. Job
growth in manufactur¬
ing slowed to 12.000
after adding 42.000 jobs
a month on average in
the first quarter.
The only major bright
spots w^re in transpor
tation and warehousing,
which added 36.000
jobs last month, and in
health care and social
assistance businesses,
which beefed up pay¬
rolls by 34.000
For all private-sector
workers, the average
workweek slipped a
notch to 34.4 hours last
month And the average
hourly earnings in May
rose by just 2 cents, to
$23.41 That’s an
increase of 1.7 percent
from a year ago. less than
the annual inflation rate.
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STOCK MARKET UPDATE
MARKET IN BRIEF At the close of June 1, 2012
DOW S&P 500 NASDAQ
-27488 Close: -32.29 Close: -79.86 Close:
12,118.57 1,278.04 2,747.48
STOCKS OF LOCAL INTEREST
Sign Stock Last Change
DELL Dell Computer 12.07 -0.26
DAL Delta Air Lines 11.51 -0.59
F Ford Motor Co. 10.12 -0.44
GAS AGL Resources 36.94 0.54
HD Home Depot 47.96 -1.38
INTC Intel Corp. 25.14 -0.70
KO Coca-Cola Co. 73.09 -1.64
MCD McDonald's Corp. 86.71 -2.63
I 1 STUDENT WINS
1
POSTER CONTEST
J 2012 Lacey skin Chamberlain, center, won a
cancer awareness poster
contest for Forsyth County students.
Chamberlain, who just finished fifth
grade at Chestatee Elementary in
| north Forsyth, was among 230
entrants from 10 elementary schools.
UBi m Georgia Dermatology Center, which
sponsored the contest, presented
Chamberlain with a $500 savings
bond. Also pictured, from left, are
l PollyTennies, Chestatee principal;
Alexander S. Gross, Georgia
i. the Dermatology school's art Center; teacher; Julie and Hubbard, Sherry
Bottorf, school nurse.
For th« Forsyth County News
Barbecue team competes
in annual Brenau festival
From staff reports
The Big Pig, a pro¬
cook barbecue team
from Cumming. partici¬
pated in the fourth annu¬
al Brenau University
Championship Barbecue
Festival over Memorial
Day weekend in
Gainesville
Team members Ted
Townsend. Tyler
Townsend. Terence
Cooke and Terry Gentry
competed against nearly
40 other professional
and amateur teams at
the event, which drew
some 5 .(XX) spectators.
1 he festival is a
Memphis Barbecue
Network-sanctioned
event, with professional
teams vying for prize
money and the rights to
compete in the nct
work s national champi
onship next spring.
Proceeds from the
Brenau festival go to
scholarship programs at
the 134-year-old educa¬
tional institution
SUNDAY. JUNE 3.2012
Sign Stock Last Change
MSFT Microsoft 28.45 -0.74
PEP Pepsico Inc. 67.51 -0.34
RF Regions Financial 5.88 -0.41
SGMS Scientific Games 8.18 -0.36
SO Southern Co. 45.95 +0.04
T AT&T 33.90 -0.27
TSN Tyson Foods 18.68 -0.69
UPS United Parcel Service 73.25 -1.69
WMT Wal-Mart Stores Inc. 65.55 -0.27
Renasant Bank welcomes
new assistant vice
From staff reports
Jennifer Green recently joined
Renasant Bank as assistant vice
president and branch manager at
the Midway location in south
Forsyth.
Green brings 17 years of bank
jng experience to the position,
A she
graduated from Forsyth Central
High School and received a bache¬
lor's degree in business administration from
North Georgia College & State University.
Green is married with two daughters.
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