Mid-day Update

PODCAST: Unemployment is ‘unacceptably high’ and where the bad drivers are

Daryl Paranada Sep 2, 2011

Here are today’s top headlines from the Marketplace Morning Report and from around the web.

News this morning from the Labor Department that the economy didn’t create any jobs… and didn’t lose any jobs in August. And the unemployment rate didn’t change either. It remains at 9.1 percent. The White House said that U.S. unemployment remained “unacceptably high” and that a government report showing job growth ground to a halt in August underscored the need for new measures to boost hiring.

Talks to determine whether Greece will get more bailout money had to be halted. That’s because the Greek government announced today it will not meet its budget deficit target this year.

Here in the U.S., more evidence of trouble for chain store the Gap. The discount chain Ross Dress for Less is about to overtake the Gap in market value — even though it only has a third as many stores. And no online sales.

Netflix stock was down more than 9 percent yesterday after news leaked about a breakdown in negotiations between Netflix and Starz movie channel. Starz provides Disney and Sony movie titles for Netflix streaming content. The current contract runs through early next year.

There’s not much construction going on in Las Vegas these days. The housing market’s a complete downer. And no major casino’s are opening up this year. So what do you do with all that heavy equipment and dirt? One company charges people as much as $750 a pop for everyday non-construction workers to take a 10 minute tutorial and then get into big backhoes and bulldozers to move dirt and sand around. What does the company call itself? “Dig This.”

Allstate Insurance has a report out this week ranking the 200 largest cities in America when it comes to safe drivers. The winner? Fort Collins, Colo., where the average driver will experience a collision only every 14 years. The national average is 10 years. As for the road scholars, who could use a bit more schooling on the road… In LA., it’s every 6.6 years. And the home of the worst drivers is Washington D.C., where the average driver collides every 4.8 years.

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