MIKE ARMSTRONG: Coming up, on this first Friday of the month, the jobs report has everybody talking and worrying. We have the gory numbers. Here’s a twist on “Not in my backyard.” Some residents of a luxury condo building want to block a company from putting its logo on their building. And acquisitions never get old for Airgas. We’ll tell you what the big distributor is buying now. Philadelphia Business Today starts now.
Call it a triple whammy. Oil prices rise the most in New York Mercantile Exchange history on Thursday. The US dollar resumes its slide against the Euro, and this morning, the Labor Department issues a really bad employment report. The unemployment rate jumped to 5.5 percent in May, from 5 percent in April. That’s the biggest rise in the jobless rate since 1986. And 8 ½ million people are now unemployed, up from 6.9 million last year. May was also the fifth month in a row that the economy lost jobs. About the only silver lining in this report is that the 49,000 jobs lost were less than the 60,000 analysts were expecting. But the trend is what matters. And with 28,000 jobs lost in April, employers are definitely out of the job creation business.
When Unisys said last year that it would move its corporate headquarters and 225 jobs to
Airgas is buying a
That’s it for this week. At The Inquirer, I’m Mike Armstrong for Philadelphia Business Today.