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43%  
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  • Retail Sales Fall Unexpectedly

    06/11/2010 9:33:06 AM PDT · by traumer · 45 replies · 831+ views
    NEW YORK (TheStreet) -- Retail sales dropped unexpectedly for the first time in eight months in May, data that will likely reignite investor fears that a consumer recovery remains tepid and reinforcing the possibility of a double dip. The Commerce Department said Friday that sales for the month tumbled 1.2%, even as economists forecast a 0.2% gain. This follows a 0.6% increase in April. This is the first decline in retail sales since September 2009, when they tanked 2.2%. On a year-over-year basis, sales grew 6.9%. Sales were particularly hurt by hardware stores, auto dealers, gas stations, department and clothing...
  • Jobs Cuts Unexpectedly Accelerate

    WASHINGTON -- Employers eliminated more jobs than expected last month as the unemployment rate climbed to 9.8%, another sign that a rapid recovery in the labor market is unlikely. Nonfarm payrolls declined by 263,000 in September, the Labor Department said Friday, noting that the largest job losses were in construction, manufacturing, retail trade and government. Economists surveyed by Dow Jones Newswires survey had expected a 175,000 decrease.