Quick Facts
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Unemployment Falls Under a Key Threshold
Companies are still hiring, just not as fast as they were. The Labor Department reported Friday that employers added 1.4 million jobs in August, down from about 1.8 million in July, per CNBC . But the overall unemployment rate dropped from 10.2% to 8.4%, marking the first... Go to Source Author: Newser Editors
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Jobless Claims Remain Above a Big Threshold
Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales, and other segments of the economy rebound from a springtime collapse, per the AP . The Labor Department reported Thursday that the number... Go to Source Author:
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Jobless Claims Milestone Is Short-Lived
The number of laid-off workers seeking US unemployment benefits rose to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the economy, per the AP . The latest figures, released Thursday by the Labor Department, suggest that more... Go to Source Author:
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A Welcome Milestone on Jobless Claims
Layoffs continue five months into the pandemic, but there is a silver lining. Unemployment claims dropped below 1 million last week for the first time since March. There were 963,000 new filings for state unemployment benefits in the week ending Aug. 8—a drop of 228,000 claims from... Go to Source Author: Arden Dier
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‘We’ve Had It’: Trump Signs 4 Executive Orders
Seizing the power of his podium and his pen, President Trump on Saturday moved to bypass the nation's elected lawmakers as he claimed the authority to defer payroll taxes and extend an expired unemployment benefit after negotiations with Congress on a new coronavirus rescue package collapsed, the AP reports. At... Go to Source Author:
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Jobs Recovery Cools as Virus Cases Increase
The jobs recovery is continuing, just not as fast as in previous months. Employers added 1.8 million jobs in July, which in normal times would be a staggering number. But as the AP notes, it's down from 4.8 million in June and 2.7 million in May and... Go to Source Author: John Johnson
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Take Your Guess on Average Age of US Car
The average age of vehicles on US roads has been climbing since the 2008 recession. With new-vehicle sales suppressed by the pandemic, that trend is not slowing, Car and Driver reports. The average age of a car in use now is 11.9 years, IHS Markit found, a one-month increase... Go to Source Author: Bob Cronin
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Senate Fails to Extend Unemployment Benefits That Expire Friday
With aid expiring, the White House offered a short-term extension Thursday of a $600 weekly unemployment benefit that has helped keep families and the economy afloat during the COVID-19 pandemic, but Democrats rejected it, saying President Trump’s team failed to grasp the severity of the crisis. Democratic leaders panned the... Go to Source Author:
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Jobless Claims End a 4-Month Streak
The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy, per the AP . The rise in weekly jobless claims to 1.4 million underscores the outsize... Go to Source Author:
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Jobless Claims Continue a Historic 16-Week Streak
New unemployment claims are out, and they're a smidge better than expected, reports CNBC . As in, 1.31 million people applied for jobless benefits last week, compared with the expected figure of 1.39 million. The AP has some coronavirus context: This marks the 16th straight week the figure has... Go to Source Author: John Johnson
