NPR 2011-09-02

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Claims were elevated in the prior two weeks by thousands of striking Verizon workers. But now that strike is over, that’s not the case anymore. Analyst² Linda Duessel of Federated Investors³ says these latest numbers are evidence the job market hit a soft patch. She'd rather see them below 400,000.

 

"We can say not a deteriorating⁴ labor market, but we really wanna see those claims go through 400,000 to the downside to evidence that we're seeing growing jobs here in the country."

 

The Verizon strike will likely have some effect on tomorrow's closely watched jobs report for August. But Duessel says most investors will bear that in mind. Giles Snyder, NPR News, Washington.

 

US retailers⁵ appear to be weathering the latest storm of economic worries better than initially⁶ thought. The International Council of Shopping Centers tracked 26 retailers in August and found that overall, revenue jumped 4.6% at stores open at least a year. The upbeat report is a boost to retailers that were hoping to rake in solid sales during the back-to-school season.

 

Individuals and businesses most severely⁷ affected⁸ by Hurricane Irene will get more time to make tax payments. The Internal Revenue Service says it's extending deadlines, initially those eligible⁹ include certain counties in North Carolina, New Jersey¹⁰, New York and the US Commonwealth¹¹ of Puerto Rico. But the IRS says more people could be added to the list as federal inspectors¹² made further damage assessments¹³ along the East Coast.

 

Now, while the Northeast is recovering from the Hurricane Irene, forecasters are watching two other tropical systems of concern. NPR's Debbie Elliott reports one threatens the Gulf¹⁴ Coast.

 

The National Hurricane Center in Miami says a low-pressure system in the Gulf of Mexico has a high chance of becoming a…

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