The Bureau of Labor Statistics reports that the economy added 165,000 jobs last month, beating analyst expectations. The unemployment rate fell to 7.5 percent, the lowest since December of 2008.
Two economists admit they made a mistake in a paper largely referenced to in the country's budget policy decisions. And the deficit-cutting duo of Simpson and Bowles release a new plan.
JPMorgan executives testified to the Senate on the company's estimated $6.3 billion loss related to risky trades and a banker known as the London Whale.