Ryan sends letter to RL Lipton
Rep. Tim Ryan of Niles, D-13th, has sent a letter to Mordechai Lipton, president of RL Lipton Distributing Co. in Austintown, asking the company to return to negotiations with members of Teamsters Local 377.
Teamsters members have been on strike since last Tuesday.
US factory activity expanded in June
U.S. manufacturing activity grew in June behind a pickup in new orders, exports and production. Better economic growth overseas is boosting U.S. exports and could help American factories rebound in the second half of the year.
The Institute for Supply Management said Monday that its index of factory activity increased to 50.9 in June. That’s up from 49 in May, which was the lowest reading in four years.
A reading above 50 suggests growth, while those below indicate contraction.
Still, a measure of manufacturing employment fell in June to 48.7, its lowest level since September 2009.
US construction spending up 0.5%
Spending on residential housing rose in May to the highest level in 41/2 years, helping to send overall construction spending higher despite a big drop in nonresidential activity.
Construction spending rose 0.5 percent in May compared with April when spending was up 0.1 percent, the Commerce Department said Monday.
Private residential construction rose 1.2 percent to the highest level since October 2008, further evidence of a rebound in housing. Spending on nonresidential projects fell 1.4 percent, dragged lower by declines in office building and the category that includes shopping centers.
Total construction rose to a seasonally adjusted annual rate of $874.9 billion in May, up 5.4 percent from a year ago.
Eurozone joblessness hits all-time high
Unemployment across the 17 European Union countries that use the euro hit another all-time high in May, official data showed Monday.
Eurostat, the EU’s statistics office, said the eurozone’s unemployment rate rose 0.1 percentage point in May to 12.1 percent. April’s unemployment rate initially was estimated to be 12.2 percent, but it was revised down to 12.0 percent thanks to new data, particularly from France.
The figures will make sobering reading for the region’s politicians as they gather in Berlin this week to tackle the problem of youth unemployment — nearly 1 in 4 people younger than 25 is out of work — and the damage it is doing to the eurozone’s economy and social fabric.
Across the eurozone, there were 19.22 million people unemployed, 67,000 higher than the previous month; a closer look at the figures shows that Italy was largely behind the increase.
Vindicator staff/wire reports