Unemployment compensation claims remained elevated in the United States last week, the U.S. Labor Department reported Thursday, as the soaring number of coronavirus cases in the country continues to inhibit the world’s largest economy.
The government said 900,000 workers filed for benefits last week, down 26,000 from the revised figure of the previous week.
Now, as President Joe Biden starts his first days in office, the U.S.
US Economic Outlook: Recovery Tied Directly To Success Of COVID Vaccination Program
01/12/21 AT 9:41 AM The New York Stock Exchange will delist three Chinese telecom equities, reverting to its initial position after reversing itself two days ago Photo: AFP / Angela Weiss
KEY POINTS
Fed officials see sharp bounce provided vaccinations go smoothly
Industries that were decimated by the pandemic will take longer to recover
Economists suggested vaccinations against COVID-19 would facilitate a broad-based recovery, but they differed over the general pace of an eventual rebound as some questioned how long the ramifications of the pandemic would last.
The Federal Reserve Bank of Atlanta revised its snapshot estimate for the fourth quarter, projecting gross domestic product would increase by 8.7%, up from its previous estimate of 8.5% from Jan. 7.
US Economy: Low-Income Workers Hit The Hardest By Job Losses
01/10/21 AT 10:45 AM
Low-income workers have been at the forefront of job losses in the start of the pandemic in March 2020, and it’s continued into the new year.
Those working in non-essential businesses or in places that require a large amount of face-to-face interaction bars, restaurants, music venues, sports venues have suffered the most during the COVID-19 shutdowns and stay-at-home orders.
As of Friday, there are 13 states Arizona, Colorado, Connecticut, Hawaii, Idaho, Louisiana, Maine, Massachusetts, Michigan, New York, North Carolina, Rhode Island and Vermont have shut down some businesses due to lockdown measures, while six states California, Illinois, Minnesota, New Mexico, Oregon, Washington, along with Washington, D.C. have had most of their businesses shut down, according to the New York Times.
WASHINGTON, Jan 8 ― The US economy likely created the fewest jobs in seven months in December or even shed workers as the country buckled under an onslaught of Covid-19 infections, marking the start of what is expected to be a bleak winter. Despite the anticipated weakness in the Labour.
US reports 140,000 job loss in December, first time since April
Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 per cent, the US Bureau of Labor Statistics said on Friday
BusinessToday.In | January 8, 2021 | Updated 20:11 IST
US recorded 140,000 job loss in Decemberjob loss in December
US recorded job loss in December for the first time since April as rising COVID-19 cases and new business constraints impacted the world s largest economy. The unemployment rate and the number of unemployed persons, however, remained unchanged at 6.7 per cent and 10.7 million, respectively, as per the date released by the US Labor Department on Friday. Although both measures are much lower than their April highs, they are nearly twice their pre-pandemic levels in February (3.5 per cent and 5.7 million, respectively).