Jobs report expected to show slowest growth in two years

CBS News

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[Music] The hot job market is starting to cool off. That's what today's February unemployment report is expected to show. Economists predict that 100,000 jobs were added to US payrolls last month. That would be the smallest increase in more than two years. Analysts say a weaker thanex expected jobs report could make for a volatile day on Wall Street. In the last session, stocks kept the positive momentum going as global stock markets stabilized. The Dow rose 68 points. The Nasdaq Composite up better than 13. There may soon be another casualty in the subprime mortgage meltdown. New Century Financial says it's no longer accepting new mortgages. The company faces a criminal accounting probe and a credit crisis that may put it out of business. A federal jury has found that internet phone carrier Vonnage infringed on three of Verizon's patents. Vonnage has been ordered to pay Verizon $58 million in damages, plus monthly royalties. Vonnage plans to appeal. Coke and Pepsi lost a little bit of their fizz last year. The soft drink giant saw their share of the soda market fall in 2006 for the second straight year. Vitamin infused energy drinks and bottled water showed strength as healthconscious consumers continue to switch to low sugar and non-fizzy drinks. Coke and Pepsi are hoping to cash in with their own vitamin fortified cola drinks later this year. That's your money watch. Click on cbsnews.com for the latest business headlines in New York. I'm Alexis Christopherus.

Feb adds 97,000 jobs, jobless rate hits 4.5%; Ford bonuses

CBS News

Transcript

[Music] It was a mixed bag for the latest jobs report. The economy grew by 97,000 jobs in February, the fewest in two years. But the report found the job market is tightening. The unemployment rate fell to 4 and a.5%. Meanwhile, the nation's trade deficit narrowed by about 4% in January to 59 billion dollars. US exports rose to an all-time high while imports dropped. During his trip to Latin America, President Bush touted his agreement with Brazil to share technology to develop alternative fuels. President Bush says using more alternative fuels will lead to more jobs, a cleaner environment, and less dependence on foreign oil. Brazil is the world's only major exporter of ethanol. Ford will be giving bonuses to most of its employees trying to boost worker morale as the company downsizes. Most white collar workers will get between $300 and $800. Union workers will get about 500. The bonuses are expected to cost the alien automaker more than $60 million. And that's your money watch. Log on to cbsnews.com for more. In New York, I'm Alexis Christopherus.