US cuts 62,000 jobs in June amid recession fears

Videos
Photos

Euro zone June inflation hits new record high at 4%
Fed talking tough on the threat of inflation
Citigroup readies more job cutbacks

(Xinhua)
Updated: 2008-07-04 00:01

Oil prices on Wednesday hit a new record above $144 a barrel, while gasoline prices reached a new nationwide high of $4.092 a gallon on average, according to AAA, the Oil Price Information Service and Wright Express.

Workers with jobs saw modest wage gains in June

Average hourly earnings rose to $18.01 in June, a 0.3 percent rise from May. That matched economists' forecasts. Over the past year, wages have grown 3.4 percent, the smallest annual increase since January 2006. Paychecks, though, aren't stretching as far because of high food and energy prices.

Previous page 1 2 Next Page