NPR 2009-07-03

The news the economy lost another 467, 000 jobs last month and the unemployment rate rose to 9.5% drew comments from President Obama today. Speaking at the White House Rose Garden, the president said he understands why people are "deeply concerned" though he pointed 1 out there are some signs the pace of layoff 2 has been easing in recent months. "While the average loss of about 4, 000 jobs per month this quarter is less devastating 3 than the 700, 000 per month that we lost in the previous quarter, and while there are continuing signs that the recession is slowing, obviously this is little comfort to all those Americans who’ve lost their jobs." Still the June unemployment numbers were higher than many analysts 4 had forecasted and perhaps just as worrisome was even those people still working appear to be earning less.

The Commerce Department said today US factory orders were up substantially by 1.2% in May. NPR's Yuki Noguchi reports.

New factory orders have been increasing in three of the last four months. And this is the latest in a series of optimistic reports indicating a long slump 5 in manufacturing could be abating 6. The May increase was the biggest jump in new orders since June of 2008. Demand rebounded 7 in particular for durable 8 goods, big ticket items that last more than three years. Demand for those products increased much faster than non-durable goods like food and chemicals. But signs of improvement were seemingly offset 9 by the jobs report. The Labor 10 Department said manufacturing lost 136,000 jobs in June of this year. Yuki Noguchi, NPR News, Washington.

Billions of dollars in federal stimulus 11 funds for public education are not getting to the states in time to avert 12 more budget cuts and teacher layoffs 13. NPR's Claudio Sanchez reports.

US Education Secretary Arne Duncan says today the department has done everything possible to get stimulus funds out the door quickly and effectively. He says his department is turning around applications from states within ten days on average, but apparently 14 it's not fast enough. So Duncan is now releasing another $2.7 billion immediately and earlier than anticipated to help public schools facing budget cuts this fall. The so-called state fiscal 15 stabilization 16 funds approved by Congress totaled about $48 billion which is nearly half of the 100 billion set aside for the US Department of Education to augment 17 state education budgets and drive school reform. 26.6 billion went out in April, but many states have been slow to apply for the money, which is why so many schools districts are still in financial trouble. Claudio Sanchez, NPR News.

The Obama administration said today it would need two more months to review an internal CIA report on the agency's secret detention 18 and interrogation program. Report by the CIA's Inspector 19 General questioned the effectiveness of what had been billed as harsh interrogation methods employed by the CIA that some had deemed to be torture including waterboarding.

On Wall Street today, the Dow Jones Industrial Average fell 223 points.

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There are now reports of at least one US death in connection with a major US military operation in Afghanistan's southern Helmand province that had gone underway yesterday. Marine 20 officials say a yet unidentified marine was killed in fighting as the military carries out a major offensive against the Taliban. There are also reports of a number of wounded and injured. The mission which is being described as the biggest US military offensive since Fallujah in Iraq involves some 4, 000 troops, many from Camp Lejuene North Carolina. The goal of the assault is to take control of the area which also is the world's largest opium 21 poppy producing region from the Taliban.

The Williams sisters have faced one another in the Wimbledon Tennis Finals three times and they will square off Saturday again the fourth of July in an all American Williams final. In London, Larry Miller 22 looks how the pair did in the semi-finals today. The two Williams matches couldn't have been more different. Two-time Wimbledon winner Serena lost her first set so far in the tournament to the Russian Elena Dementieva and was facing match point in the second set before coming back to win that and a hard-fought third set that went 8-6. A few minutes later, her sister and defending champion Venus walked on Wimbledon center court outclassing and quickly dispatching the world NO.1 Dinara Safina 6-1, 6-0, setting up a Saturday sisterly final. Venus is going for her third straight Lady's grass court title. Head to head, Serena has beaten Venus twice losing once. Regardless of who wins, they’ll deposit $2.1 million into the family bank account from the combined prize money. For NPR News, I'm Larry Miller in London.

Crude oil prices fell $2.58 a barrel to close at $66.73.