Econ 101: May 3, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • President Obama pledged to create 110,000 summer jobs for young workers. [Reuters]
  • Regulators are making progress on the Volcker Rule and could have it completed sooner than expected. [New York Times]
  • Congress will not have to raise the debt limit before the election, according to Treasury. [The Hill]
  • A federal judge preliminarily approved a class-action settlement with BP over the 2010 Gulf oil spill. [Wall Street Journal]
  • Food safety reforms signed by Obama last year have yet to be implemented. [Washington Post]
  • Europe’s central bank will fend off calls for it to do more to help struggling economies at a meeting in Spain today. [Reuters]
  • Chrysler will skip its summer shutdown to meet demand for new cars. [CNN Money]
  • A spike in disabled workers is partly responsible for the declining labor force. [Bloomberg]