welcome back to starting point. minding your business, your job, your economy, where do things stands, answer in over an hour. the may jobs report out at 8:30 eastern making investors a little nervous this morning. dow futures down about 20 points. expectations are low, 158,000 jobs added, 7.5% unemployment. that s another sign we re in kind of a soft patch. is that an economic term? over the past year the economy has been averaging more than that, 173,000 positions a month. even that s not great. at that pace analysts say it would take more than five more years to get back to where we were before the recession. you do want to see the private sector continuing to move forward. we would like to see this accelerate. feeling richer? american s net worth hit a record high $70 trillion, tops a previous record set in 2007 just before the recession. is that your net worth, berman. right. $70 million. $70 trillion times my net worth.
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watch will be coming from apple next year. thanks so much. we are anxiously awaiting the may jobs report. they are expecting unemployment to stay at 7.5% adding jobs. we ll get the details at 8:30 eastern. sarah jessica parker is partnering with a shoe maker to launch her own sjp line of shoes. every girl s dream. apple iphone users, listen up. there s a report that the company is creating an iphone trade-in program. users of the iphone 4 and 4s can upgrade to a 5. richard lui has all the details in sports when we come back. [ male announcer ] this is bob,
factory orders figures as well as the may car and truck sales. those are all good indicators of where consumer spending stands. wall street will also be keeping a very close eye on europe this week as the eurozone releases its revised estimate of first quarter gdp, the broadest measure of economic growth for that region. then back here in the united states, we ll get the may jobs report. that comes friday morning. it is all important and you ll remember in april we saw 165,000 jobs added to the u.s. economy. that was better than expected. we will see if that trend continues. of course, we ll track it all for you on cnn money. i m showbiz tonight s a.j. hammer. here s what we re watching this week. stars behind bars special. mike tyson s stunning prison revelations. hollywood s biggest stars caught on police tape. and see our countdown of the best worst celebrity mugshots ever. be sure to catch showbiz tonight monday through thursday at 11:00 p.m. eastern and pacific on hln.
s&p was up 9. it comes after factory orders jumped in may following two months of decline but orders are still down for the year and today the international lending organization, imf warned the u.s. economy could fall back into recession next year if lawmakers don t work to cut spending and avoid tax increases. ed henry is live at the white house. we are scheduled to get the june unemployment report later this week. with the election looming there are folks that are paying close attention. reporter: they are because you are right. this is going to be a big issue to shape the fall campaign, frankly, between the president and republicans. the may jobs report that came out at the beginning of june was pretty devastating for the administration and set them off on a bad month. you mention the imf chief, she gave a news conference in which he basically said the unemployment situation is such in the u.s. right now that it shows it s a very, very slow