Not having a summer or after-school job affects more than just a kid's wallet. It also has real consequences for his or her personal and economic development.
While the overall unemployment rate is stuck at 9.1 percent, the unemployment rate for 16- to 19-year-olds has been going up since February. Currently 25.4 percent of teenagers who want jobs can't find them.
President Obama is set to deliver a major speech on jobs next Thursday, and his task will be even more challenging after Friday's monthly government jobs report. The U.S. Labor Department says there was no job growth for the first time in a year, and unemployment was unimproved, staying at 9.1 percent.
NPR's Scott Horsley tells Weekend Edition host Scott Simon some jobs were added, but not enough to make up for other losses.
In 1969, astronaut Alan Bean went to the moon as the lunar module pilot on Apollo 12. Although the trip going to the moon covered the same distance as the trip back, "returning from the moon seemed much shorter," Bean says.
People will often feel a return trip took less time than the same outbound journey, even though it didn't. In the case of Apollo 12, the trip back from the moon really did take somewhat less time. But the point remains that this so-called "return trip effect" is a very real psychological phenomenon, and now a new scientific study provides an explanation.
The Federal Government filed suit against more than a dozen big banks over mortgage backed securities the banks sold during the housing boom. Essentially the government claims the banks were selling securities that were riskier than advertised.
As we reported earlier, The New York Times reported this news, last night. But, now, the Federal Housing Finance Agency, which was appointed to oversee mortgage buyers Fannie Mae and Freddie Mac, filed the lawsuits today.