Menu

Employers took 1,532 mass layoff actions in June involving 143,444 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each mass layoff involved at least 50 workers from a single employer. The number of mass layoff events in June decreased by 67, or 4 percent, from May, and the number of associated initial claims decreased by 96, or less than 1 percent. In June, 341 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 35,693 initial claims; both figures decreased over the month.

Although used car prices likely peaked in June, average trade-in values of many popular, fuel-efficient small cars for the 2006-2009 model years are still expected to be 10 to 30 percent higher in August 2011 than they were at the beginning of the year, says Jonathan Banks, senior analyst with the NADA Used Car Guide.

Continuing economic turmoil sent the First Command Financial Behaviors Index® tumbling six points during the second quarter, reflecting a steady erosion in the financial intentions and attitudes of middle-class Americans.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.3 percent, The Conference Board Coincident Economic Index® (CEI) increased 0.1 percent and The Conference Board Lagging Economic Index® (LAG) increased 0.3 percent in June.

The Conference Board Leading Economic Index® (LEI) for France declined 0.3 percent and The Conference Board Coincident Economic Index® (CEI) increased 0.1 percent in May.

According to the latest available data, the EU27 external current account recorded a deficit of 38.8 billion euro in the first quarter of 2011, compared with a deficit of 27.7 bn in the first quarter of 2010 and a deficit of 20.4 bn in the fourth quarter of 20103.

In May 2011 compared with April 2011, the euro area (EA17) industrial new orders index rose by 3.6%. In April the index fell by 0.1%. In the EU27 new orders gained 2.5% in May 2011, after an increase of 0.3% in April. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders grew by 3.0% in the euro area and by 2.5% in the EU27.

Between the negotiations on the debt ceiling and the recent disappointment in the jobs reports, it is perhaps not surprising that President Obama is at his lowest point in Americans' opinions on his handling of the economy. Just one-quarter of Americans (26%) give him positive ratings while three-quarters (74%) give him negative ratings on his handling of the economy. Last month, 27% of U.S. adults gave the President positive ratings while 73% gave him negative marks. When it comes to his handling of the economy, even majorities of Democrats (55%) give President Obama negative ratings.

Small business hiring in the back half of 2011 is expected to be better than 2010, but caution continues to steer the pace of job creation post-recession. This is according to CareerBuilder's nationwide survey of more than 1,400 small businesses (defined as companies with 500 or fewer employees), between May 19 and June 8, 2011.

Average mortgage rates remained constant according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.