We have just come from a week when officials of the European Union openly warned of the possible downfall of the euro. Billionaire investor George Soros has gone even further. He says the euro crisis could bring down the entire E.U. Teri Schultz reports from Brussels.
From jobseekers in Spain, we turn to those here in the U.S. The latest employment numbers revealed that there are still many more Americans looking for work than there are our jobs that need filling. The May jobs report showed the economy added an anemic 69,000 jobs - about half the number that were added in April. Yet, here's the paradox: Despite the high number of people seeking jobs, many employers insist they can't find the right person for the exact positions they have open.
Cathy Yamauchi has been waiting since Thanksgiving to hear from her mortgage lender regarding a short sale of her home in Ramsey, Minn. She is planning to move to a townhome, but is mostly living out of boxes while waiting on the short sale.
Banks are often accused of dragging their feet when a homeowner wants to sell for less than the balance on the mortgage. A lot of those "short sales" might be better dubbed "really long and drawn out" sales. New federal guidelines, though, could now push lenders to approve short sales faster.
This is WEEKEND EDITION from NPR News. I'm Rachel Martin.
Disappointing. Dismal. Bleak. These are just a few of the words used to describe the latest employment report. It showed that the U.S. economy added just 69,000 jobs in May. That's less than half of what economists had expected. And this was the third consecutive month of weak results, which raises new concerns about the sputtering economic recovery.
Friday's disappointing jobs report added to worries the recovery is in trouble. Only 69,000 new jobs were added to payrolls, and the unemployment rate moved higher, to 8.2 percent. Suddenly there is more talk about the Fed and what it might do to get the economy moving again. NPR's Jim Zarroli reports.