Money Watch Weekly Wrap

US stocks fell for the fifth straight week after soft economic data caused investors to question the strength of the economy and sell stocks. It was the first five-week losing streak for the Dow since July 2004.

The week started on a downbeat note, after data revealed that US housing is officially in a double dip. That news was followed by the worst one-month drop in manufacturing since 1984; and on Friday, the Labor Department reported that the US economy added only 54,000 non-farm jobs in May.

• DJIA: 12,151, down 2.3% on week, up 4.9% YTD
• S&P 500: 1300, down 2.3% on week, up 3.4% YTD
• NASDAQ: 2732, down 2.3% on week, up 3% YTD
• July Crude Oil: $100.22, down $0.37 on week
• August Gold: $1542.40, up $5.10 on week

Total bank failures for 2011 = 45 (1 new bank failure over weekend)

FACTOIDS OF THE WEEK: Jobs Edition Details from the Lousy Jobs Report:

• May Jobs: +54,000, fewest number of jobs in eight months
• May Private Sector Jobs: +83,000
• May Unemployment Rate: 9.1 percent, from 9.0 percent in April
• Under-Employment Rate (marginally-attached, part-time): 15.8 percent
• Total Jobs created in 2011: 783,000 (157,000 per month)
• Number of years to return to pre-recession employment (assuming current level of 157,000 jobs per month): 4 (late 2014 or early 2015)
• Total Jobs Lost since beginning of recession in 2007: 6.95 million
• Unemployed persons: 13.9 million, from 13.7 million
• Labor Participation Rate (percentage of U.S. population employed): 58.4 percent
• Long-term unemployed (jobless for 27 weeks and over): 6.2 million, from 5.8 million in March, which represents 45.1 percent of the total unemployed
• Unemployed for more than 1 year: 4 million, nearly a third of the unemployed
• Part-timers (hours cut for economic reasons): 8.5 million

Mon 6/6

Tues 6/7:
3:00 Consumer Credit

Weds 6/8:
2:00 Beige Book

Thurs 6/9:
Bank of England and ECB rate announcements

8:30 Weekly Claims

8:30 International Trade

10:00 Wholesale Trade

Fri 6/10:
8:30 Import and Export Prices

2:00 Treasury Budget

Jill Schlesinger

Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.

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