Economy

Financial and business news

Actor Charlotte Rae, best known for her role as Mrs. Garrett, the patient housemother at a girls' school in the 1980s sitcom The Facts of Life, has died at age 92.

Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged.

Back then, people were losing their homes as home values crashed and homeowners went underwater. Today, home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers.

For fans who have dreamed about the return of Captain Jean-Luc Picard to Star Trek, actor Patrick Stewart might as well borrow his character's classic catchphrase and say, "Make it so."

It's a role that he hasn't stepped into since 2002, and fans are elated.

Cary Grant. Katharine Hepburn. Spencer Tracy.

They were movie stars immortalized by "the golden age" of Hollywood during the mid-20th century, representing fame and beauty.

Behind the glossy glamour, the stars were also connected by something else: a man named Scotty Bowers who worked at a small gas station at the corner of Hollywood Boulevard and Van Ness — the epicenter of Tinseltown's covert sexual underground.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

DON GONYEA, HOST:

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

SCOTT SIMON, HOST:

Hawaii's Kilauea volcano has been spewing lava since early May. No way to know whether the lava will stop tomorrow or continue for years to come. Many businesses are struggling with the uncertainty. Reporter Alex Schmidt has this from the Big Island of Hawaii.

It's been well-documented in recent years that minor league baseball players don't exactly share in the riches of the game. Most minor leaguers make an estimated $7,500 for a year. Major league players average more than $4 million.

Five labor market indicators, one minute each. They are:

1) This year, the average number of jobs added to the economy each month has been 215,000, an increase on last year's average of 182,000.

2) The share of adults between the ages of 25 and 54 with a job is now 79.5 percent.

3) The manufacturing sector has added 327,000 jobs in the past year, which represents a faster pace of job creation than the overall economy — a reversal of the trend from a few years ago.

4) The unemployment rate for high school graduates with no college experience has fallen to 4%.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

There's been a lot of good economic news lately, something that President Trump isn't shy about pointing out.

(SOUNDBITE OF ARCHIVED RECORDING)

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

AILSA CHANG, HOST:

A federal judge has dismissed a pair of lawsuits against the Fox News Channel over its coverage in May 2017 of the killing of a young Democratic Party aide named Seth Rich that had to be retracted just days later.

When Jorge Lara's father opened a bakery in the tiny South Texas town of Raymondville in 1963, the city boasted three theaters, dozens of restaurants and a bustling main street. The cotton fields that cover the county raked in profit. Jobs were plentiful.

More than 50 years later, Lara's Bakery is one of the few businesses left downtown. Each morning, employees fill the glass cases with glazed doughnuts and Mexican pastries like pan dulce and pumpkin empanadas.

It was 1981.

A new Republican president with a background in the entertainment business was trying to jump-start the U.S. economy out of a brutal recession.

The president pushed tax cuts.

Then his administration had to come up with a plan to deal with trade. America's auto industry was suffering, as new competition came in from Japan.

What the Reagan administration did about it has shaped the auto industry we see today in America. And it could serve as an example for the Trump administration in its ongoing, rancorous trade battles.

Pages