Economic News 2020
These are the final reports before we go screaming into a new year…..the news is not as rosy for some as it is for others……
For instance the jobs outlook for the end of the year…..
The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the US economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the Labor Department, shows that many employers are still cutting jobs as the pandemic tightens business restrictions and leads many consumers to stay home. Before the virus struck, jobless claims typically numbered around 225,000 a week before shooting up to 6.9 million in early spring. The pace of layoffs has since declined but remains historically high in the face of the resurgence of COVID-19 cases, reports the AP