Facebook employees aren’t the only ones carefully watching the company’s stock price deflate. California, which was hoping to net up to $2 billion from Facebook’s IPO, had assumed the stock would be around $35 in its budget.

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The rate of manufacturing growth slowed in May, according to a purchasing manager’s report out on the same day that the government released disappointing jobs numbers.

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To put it mildly, the job market looked bleak in May, according to several reports released Thursday.

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