The number of Americans filing new unemployment claims decreased to 860,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Department of Labor figure released Thursday represented an decrease of new jobless claims compared to the week ending on Sept. 5, in which there were 884,000 new jobless claims reported.
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About 884,000 U.S. workers filed new claims for unemployment benefits last week, the second consecutive week that new claims fell below the million mark and the third time in about a month.
The U.S. Department of Labor reported Thursday that the number of new claims filed in the week ending Sept. 5 was about the same as those who filed the week ending Aug. 29 – 884,000. The numbers from the week ending Aug. 29 were adjusted about by 3,000 from 881,000.
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The U.S. economy added 1.4 million jobs in August, while unemployment fell to 8.4%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 1.4 million in August, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 2.8 million to 13.6 million. The unemployment rate fell below 10% for the first time since April when the rate reached 14.7%.
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The number of Americans filing new unemployment claims decreased to 881,000 last week as the economy continues to suffer the effects of the coronavirus pandemic, according to the Department of Labor.
The Department of Labor figure released Thursday represented a decrease of new jobless claims compared to the week ending on Aug. 22, in which there were 1,006,000 new jobless claims reported.
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More than 20 percent of small business owners said they will have to close permanently if current economic conditions do not improve within the next six months, according to a survey conducted by the National Federation of Independent Business.
The largest small business association in the U.S., headquartered in Nashville, conducted the survey to assess the financial health of small businesses.
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The number of Americans filing new unemployment claims decreased to 1,006,000 last week as the economy continues to suffer the effects of the coronavirus pandemic, according to the Department of Labor.
The Department of Labor figure released Thursday represented a slight decrease of 98,000 new jobless claims compared to the week ending on Aug. 15. The number was about where Wall Street analysts expected it to be, according to CNBC.
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Tuesday morning on The John Fredericks Show, host Fredericks welcomed Liberty University’s Business School Dean David Brat to the show to discuss the present and future of the United States economy.
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The U.S. economy added 1.8 million jobs in July, while unemployment fell to 10.2%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 1.8 million in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1.4 million to 16.3 million.
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The U.S. economy produced between 1.35 million and 1.8 million jobs the month of July, bringing the total number of jobs created since April when labor markets bottomed with the federal and state governments in lockdown to combat the Chinese coronavirus to between 9.3 million and 10 million.
Further speeding the recovery along are the number of COVID-19 cases are beginning to decline nationally after brief spikes in Texas, California, Florida and Arizona as states were reopening. Now the cases have stabilized in those states, and the Institute for Health Metrics and Evaluation is projecting they will remain stable until mid-to-late September when the cold and flu season gets going again.
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The Department of Labor reported Thursday that over 1.19 million Americans filed additional claims for unemployment last week, a slight decline from the approximately 1.4 million in each of the past two weeks.
Though the number of Americans filing for unemployment was less than the 1.4 million expected to do so this week, CNBC reported, the recent news release marks the 20th week in a row that new unemployment claims have been above one million.
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Economic activity in the manufacturing sector grew in July, with the overall economy notching a third consecutive month of growth, according to a new report published by the Institute for Supply Management.
The Manufacturing ISM “Report on Business” calculated a July composite reading of 54.2 percent, a second straight month of growth for U.S. factories.
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The U.S. economy contracted a record-setting, inflation-adjusted, annualized 32.9 percent in the second quarter of 2020 according to the latest data from the Bureau of Economic Analysis as tens of millions of Americans waited out the Chinese coronavirus in their homes, not venturing out much except for work and needed supplies.
The second quarter comprises of April, May and June, when in Bureau of Labor Statistics’ household survey 25 million jobs were lost by April and then 8.8 million came back in May and June as states slowly began reopening.
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The United States gross domestic product (GDP) fell 32.9% in the second quarter of 2020, the Department of Commerce reported, marking the largest decline the country has ever seen, according to CNBC.
In addition to the record drop in GDP, The Department of Labor reported Thursday that over 1.43 million Americans filed initial claims for unemployment last week, marking a swift economic contraction as coronavirus cases continue to rise across the country.
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More than 1.4 million American workers filed new unemployment claims last week, an increase over the previous week as new restrictions are being put in place to slow the spread of COVID-19.
According to the U.S. Department of Labor, 1.43 million workers filed new claims for unemployment benefits in the week ending July 25, up 12,000 from the week ending July 18. It was the second week in a row that new claims increased.
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With the “v-shaped” economic recovery taking shape nationwide, Michigan has begun to bounce back from the artificial coronavirus downturn sooner than most of us dared to hope.
Despite Governor Gretchen Whitmer’s excessively harsh stay-at-home orders, Michigan regained more than 460,000 nonfarm jobs since the start of May, reducing the unemployment rate by almost a whopping 10 percentage points. Blue collar industries that provide the lifeblood for Michigan’s middle class, such as construction and manufacturing, are doing particularly well — those two sectors alone created more than 180,000 new jobs in May, no doubt fueled in part by the President’s focus on ramping up domestic production of medical supplies needed to confront the invisible enemy.
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The Department of Labor reported Thursday that over 1.4 million Americans filed additional claims for unemployment last week, marking the first weekly increase in claims since March.
The number of Americans filing for unemployment had been declining each week before mid-July, but the Thursday report marks the 18th week in a row that unemployment claims have been above one million, CNBC reported.
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Four months into the COVID-19 pandemic, an additional 1.3 million Americans filed for unemployment benefits last week, according to U.S. Department of Labor data released Thursday.
That’s down 10,000 from the previous week but still significantly higher than pre-pandemic figures.
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Jobless claims for the past week were lower than economists had predicted as workers begin returning to their jobs, according to data from the Labor Department shows.
The total number for jobless claims for the week ending in July 4 was 1.3 million, according to the Labor Department data, which is 99,000 fewer claims than the previous week. Economists surveyed by Down Jones had predicted 1.39 million jobless claims, according to CNBC.
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The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April.
The Labor Department reported Tuesday that the number of available jobs rose sharply as well, but remained far below pre-pandemic levels.
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The U.S. added 4.8 million jobs in June, while the unemployment declined to 11.1%, according to Department of Labor data released Thursday.
Total non-farm payroll employment rose by 4.8 million in June, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 3.2 million to 17.8 million. These numbers mark the second month of both increasing jobs and dropping unemployment since the country lost a record 20.5 million jobs due to the coronavirus pandemic closures.
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American consumers increased their spending by a record 8.2% in May, partly erasing huge plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter.
Last month’s rebound in consumer spending followed record spending drops of 6.6% in March and 12.6% in April, when the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a recession. Since then, many businesses have reopened, drawing consumers back into shops and restaurants and restoring some lost jobs.
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More than 1.5 million American workers filed new unemployment claims last week, according to the U.S. Department of Labor, even as state restrictions to slow the spread of COVID-19 are easing.
More than 45 million claims have been filed in the three months since state and local governments started restrictions that closed businesses deemed nonessential, but millions of those workers have since gone back to work as states began reopening their economies.
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About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.
The latest figure from the Labor Department marked the 10th straight weekly decline in applications for jobless aid since they peaked in mid-March when the coronavirus hit hard. Still, the pace of layoffs remains historically high.
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The U.S. economy created over 3.8 million jobs in May in the Bureau of Labor Statistics’ household survey, and 2.5 million in its establishment survey, heralding the bottom of labor markets in April.
How do we know April was the bottom? Unless we’re anticipating losing 3.8 million jobs in June when America is reopening, barring a resurgence of the COVID-19 pandemic, when the momentum is moving precisely in the opposite direction, the likelihood is that June, July and August will only add to what has already been gained.
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Jobs with state and city governments are usually a source of stability in the U.S. economy, but the financial devastation wrought by the coronavirus pandemic has forced cuts that will reduce public services — from schools to trash pickup.
Even as the U.S. added some jobs in May, the number of people employed by federal, state and local governments dropped by 585,000. The overall job losses among public workers have reached more than 1.5 million since March, according to seasonally adjusted federal jobs data released Friday. The number of government employees is now the lowest it’s been since 2001, and most of the cuts are at the local level.
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The U.S. economy gained 2.5 million jobs in May, while the unemployment declined to 13.3%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 2.5 million in May, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 2.1 million to 21.0 million.
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The number of new unemployment claims filed last week dropped to 1.88 million, the first time weekly claims didn’t exceed 2 million since mid-March.
Still, the total number of claims filed since government restrictions closed businesses deemed nonessential to slow the spread of COVID-19 surpassed 42 million in the 11 weeks since states began shutting down significant parts of their economy.
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More than 40 million Americans have filed unemployment claims since mid-March, when state governments across the U.S. began restrictions to slow the spread of COVID-19, including closing businesses deemed nonessential.
Last week, an additional 2.12 million workers filed claims, according to U.S. Department of Labor data released Thursday, the 10 consecutive week in which new jobless claims were in the millions. The 2.12 million claims from the week ending July 23 is down 323,000 from the 2.44 million workers who filed for benefits in the week ending May 16 and is the lowest number of new claims since the week ending March 15.
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It was Monday morning on March 10, 2019, when Ethiopian Airlines Flight 302 lurched away from the gate, rolled to a sprint, and peeled its wheels off the runway for the last time. Aboard, 157 souls including eight Americans and one veteran on vacation doing missionary work, were flying.
Six minutes after takeoff, Flight 302 plunged back to earth, trailing white smoke across the sky until reaching its terminus near Bishoftu, Ethiopia. All aboard perished when the Boeing 737 Max 8 aircraft screamed into the ground at nearly 700 miles per hour, leaving a massive crater with wreckage driven up to 30 feet deep into the soil.
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Some 100 million people in China are now back in lockdown as fears of a second wave surge. Now that the US and the rest of the world is opening up, the probability of infection will most likely go up, as will the number of infections. What does that mean for the economy?
First, uncertainty and fear of another lockdown will negatively influence business decisions and overall economic recovery. Even if your business survived the first wave, would you be willing to go all in, invest, rehire people, renew leases, etc., if you think you will be shut down in the autumn?
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The Great Awakening.
History books tell us “The Great Awakening” was (according to Wikipedia), “The First Great Awakening (sometimes Great Awakening) or the Evangelical Revival was a series of Christian revivals that swept Britain and its Thirteen Colonies between the 1730s and 1740s. The revival movement permanently affected Protestantism as adherents strove to renew individual piety and religious devotion. The Great Awakening marked the emergence of Anglo-American evangelicalism as a trans-denominational movement within the Protestant churches. In the United States, the term Great Awakening is most often used, while in the United Kingdom, it is referred to as the Evangelical Revival.”
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Even as much of the country eases restrictions and slowly begins to reopen state economies, new jobless claims continued their COVID-19 spike last week, increasing the total number of those filing for unemployment benefits to nearly 39 million since mid-March.
According to data released Thursday by the U.S. Department of Labor, an additional 2.44 million workers filed for benefits in the week ending May 16. That’s down 249,000 from the revised number of claims filed in the week ending May 9.
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New jobless claims continued their COVID-19 surge last week, driving the total number of those filing for unemployment benefits to more than 36 million over the past two months.
Even as many states across the country began easing restrictions and slowly reopening their economies, 2.98 million Americans filed for new unemployment benefits for the week ending May 9, according to data released Thursday by the U.S. Department of Labor.
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Another 4.4 million Americans filed for initial unemployment claims last week, raising the total to more than 26 million who have lost their jobs since the COVID-19 pandemic economic closures began in all 50 states more than a month ago.
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President Donald Trump on Thursday announced a plan to allow states to begin reopening their economies in a phased approach.
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WASHINGTON – The coronavirus pandemic is continuing to wreak havoc on the U.S. economy, with another 5.2 million workers claiming unemployment compensation last week, the Labor Department reported Thursday.
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We are cowering from fear of COVID-19, but quarantine is not a cure to end the virus.
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Live from Nashville, Tennessee Wednesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m.– Leahy and Carmichael discussed the economy and its effects caused by the coronavirus pandemic.
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In the past few decades, a new subfield of history has emerged: the history of capitalism. The subfield is widely popular in the media as a result of hugely influential books such as those of Sven Beckert and Edward Baptist. These two particular authors tie the “peculiar institution” of slavery in American history to capitalism. Many media pundits, as witnessed by recent articles in the New York Times and Vox, jumped on the works of these authors to claim that slavery was “the building block of the American economy” and it made America richer.
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by Henry Rodgers The total number of workers claiming unemployment insurance fell to the lowest level in 50 years, the Department of Labor reported Thursday. The number of applications claiming unemployment insurance benefits dropped by 10,000, bringing the number of applicants to 202,000, the lowest recorded number since Dec. 6, 1969, when the U.S. workforce and population were much smaller than they are today, the Department of Labor (DOL) report said. The number is a positive sign for the economy as it implies fewer people are unemployed in the U.S. The total number of people claiming unemployment benefits in the U.S. has continued to decline since President Donald Trump took office. Unemployment benefits are available for up to 26 weeks in most states and pay eligible workers up to $450 per week. – – – Henry Rodgers is a reporter for the Daily Caller News Foundation. Follow Henry on Twitter. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].
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by Rick Manning The office discussions at Americans for Limited Government are lively with voices often raised over various interpretations of what the news of the day means. While none of us are economists and we don’t even belong to the Holiday Inn Rewards Program, we still have extended and sometimes loud discussions on the meaning of different economic events. Last week, a future recession signal was hit when the interest rate paid by a three-month Treasury bond went higher than the interest rate paid for a 10-year Treasury bond. Wait, don’t go away, this is really easy. It is logical that the interest rate investors would seek for a short term debt would be low, while investors would seek a higher return for parking their money in a ten-year investment. After all, the three-month bond goes away rapidly so if interest rates rise higher than what you are earning on your investment, you are not stuck with a loser for long (in this case a maximum of 3 months.) But if you buy a 10-year bond which only pays 2.4 percent interest as was the case on March 29, when the three-month bond is paying 2.4 percent, it…
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by Anthony B. Kim The U.S. economy is roaring like no other time in recent memory. The job market is hot, unemployment is down to record lows, and small business optimism is soaring. But this newfound dynamism didn’t come from nowhere. It required a package of market and consumer-friendly reforms passed by Congress and adopted by the Trump administration. These reforms have boosted economic freedom. According to The Heritage Foundation’s 2019 Index of Economic Freedom, America’s economic freedom has seen a dramatic boost—from 18th place in the world to 12th place in the span of just one year. America’s score ticked up by more than a full point from last year, reaching the highest level in eight years. The annual index—now celebrating its 25th year—provides an overall snapshot of almost every country’s level of economic freedom. It takes into account a variety of factors, like taxation, regulation, and trade. It is relevant to our job prospects and the prices we pay for goods and services, not to mention what kind of appliances and cars we can choose and buy. Higher economic freedom scores tend to correlate with faster growth and broader economic expansion, as well as higher incomes and…
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by CHQ Staff Strategic tax and wealth protection guru attorney Denis Kleinfeld recently posted a column on NewsMax that is worth parsing and passing along as an interesting counterpoint to the conventional wisdom of Big Media. Kleinfeld wrote that, of the many risks to the investment markets, none is greater than the risk of errant government policy. This is certainly true and as we see it, before the Obama era it was accepted wisdom, especially among Republicans, that government interference in the economy was bad and something to be avoided except in the direst of circumstances. However, says Kleinfeld, free-market capitalism is under attack by the political-social-intellectual-elitist who deeply believe in the democratic socialist ideology—and hostile to any dissent from the party line. This ideology is effectively a secular religion based on the illusionary belief that a hybrid of collectivist economic elements and capitalism imposed and enforced by a strong central government can create a utopian society. This attack Mr. Kleinfeld warns against is particularly dangerous now because, since the beginning of the Obama era, the Democratic political establishment, and Republican political establishment, both accepted as normal the country’s economic stagnation, wealth redistribution, submission to international governance, and loss…
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