Economy Briefs

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

ECONOMY

Job market improves slightly as joblessness falls

The American job market improved modestly in October, and economists looking deeper into the numbers found reasons for optimism, or at least what counts for optimism in this agonizingly slow economic recovery.

The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have receded.

The unemployment rate nudged down, to 9 percent from 9.1 in September.

No one looking at Friday’s report from the Labor Department saw a quick end to the high unemployment that has plagued the nation for three years. The jobless rate has been 9 percent or higher for all but two months since June 2009.

OIL PIPELINE

Yellowstone spill to cost Exxon $135M

BILLINGS, Mont.Exxon Mobil said Friday it expects to incur costs of about $135 million from an oil-pipeline break beneath Montana’s Yellowstone River that triggered a massive effort to limit damage to the scenic waterway.

The cost figure was released to the Associated Press. It is more than triple an earlier estimate and includes for the first time the expense of replacing the section of broken pipeline with a new one buried more deeply beneath the river.

The company’s 12-inch Silvertip crude-oil pipeline broke July 1 during severe flooding.

In the 56 minutes it took Exxon Mobil to seal off the line, an estimated 42,000 gallons of oil leaked into the river near Laurel. That fouled dozens of miles of riverbank, numerous islands and swaths of low-lying cropland with crude.

NEW YORK

Deepak Chopra, brother in Amazon book deal

NEW YORK — Amazon.com is adding another high-profile name to its publishing roster.

Story Continues →

View Entire Story
Comments
blog comments powered by Disqus
TWT Video Picks