October 2011 Current Events: Business News
Here are the key events in business news for the month of October 2011.
Steve Jobs, Co-Founder of Apple, Dies (Oct. 5): After an eight year battle with pancreatic cancer, Steve Jobs dies at the age of 56. Jobs is the co-founder of Apple and is considered a visionary for his influence on the way we listen to music, watch movies, and use mobile communications in the digital age.
Unemployment Rate Remains Unchanged (Oct. 7): The unemployment rate for September holds at 9.1%, the same as August and July. There are 137,000 jobs added, but 34,000 public jobs are lost. Of the 137,000 new jobs, 45,000 are Verizon employees ending their strike and returning to work. While the number of additional jobs is slightly higher than predicted, economists say the economy needs to add at least 150,000 jobs per month to keep up with population growth.
I.B.M. Names New Chief Executive (Oct. 25): Virginia M. Rometty will succeed Samuel J. Palmisano as I.B.M.'s chief executive. Palmisano will remain at I.B.M. as chairman. Rometty, currently a senior vice president, takes over at the beginning of 2012.