Money in a Minute: Headlines From Around the Web

CONSTRUCTION: No end in sight to construction’s woes

While the job market is slowly coming back, the construction industry is going backward. “While all employers added 1.8 million jobs since February 2010, construction lost 4,000,” USA Today reports. “Its payrolls of 5.5 million are down 2.2 million since 2007.”

JOBS: Outlook for teen summer jobs less gloomy

It’s good to be young. “The number of 16- to 19-year-olds who were employed in May increased by 71,000 from the previous month,” MSNBC reports. But, “Nearly one in four teens who wants a job doesn’t have one.”

FOOD: Wheat rallying 20 percent as fields wilt from China to Kansas

Three strikes and wheat is out of your price range. Wheat fields in China, Europe, and the United States are all suffering from drought. “Inventory is dropping 8.8 percent, the most in five years,” Bloomberg reports. “Wheat as much as doubled in the past year as crops failed.”

TECH: Apple tries to put the kibosh on iPad and iPhone giveaways

Apple says it has the right to ban anyone from giving away iPads in contests. “Operating on the theory that its brand is one of its most valuable properties, Apple has laid out some pretty strict rules about what companies can and can’t do with its products,” CNN reports.

HAPPINESS: U.S. doesn’t make cut for happiest nations list

Does money buy happiness? Yes, but not enough for one of the world’s wealthiest nations to land on the list of the 10 happiest. “The happiest people in the developed world get loads of social services without having to work too hard,” MSNBC reports. “Having abundant natural resources, a thriving services sector and a fairly homogeneous population helps as well.” While Canada, Australia and Israel made the cut, the majority of the nations on the 10 happiest list are in northern Europe or Scandinavia.

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