The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is stalling hiring and slowing an economic rebound.
After more than a week's worth of meetings, at least some clarity is coming to bipartisan Washington talks on a huge COVID-19 response bill.
Around the country, across industries and occupations, millions of Americans thrown out of work because of the coronavirus are straining to afford the basics now that an extra $600 a week in federal unemployment benefits has expired.
Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired.
Housing advocates fear that they could see a wave of evictions in the coming months, as states end moratoriums put in place during the coronavirus pandemic.
The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday.
The GOP unveiled details for a second round of direct payments to American households on Monday, in legislation that has been dubbed the HEALS Act.
The $600 weekly boost in jobless aid that millions of people have received since early in the pandemic is set to expire.
In the past three months, the outlook for the U.S. economy has improved in the eyes of business economists. However, the optimism is couched somewhat by the resurgence of the coronavirus.
The Commerce Department reported Friday that the June gain pushed sales of new homes to a seasonally adjusted annual rate of 776,000. The increase follows a 19.4% jump in May.
The White House has dropped a bid to cut Social Security payroll taxes as Republicans unveil a $1 trillion COVID-19 rescue package.
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.
Feinstein wants to amend the next COVID relief bill to that states that don’t enforce face coverings can’t receive stimulus money.
The number of laid-off workers seeking unemployment benefits remained stuck at 1.3 million last week, a historically high level that indicates many companies are still cutting jobs as the viral outbreak intensifies.
The average U.S. price of regular-grade gasoline increased by 2 cents over the past two weeks, to $2.24 per gallon.
Another 1.3 million workers sought unemployment last week, according to the Department of Labor.
While the jobless rate was down from 13.3% in May, it is still at a Depression-era level. And the data was gathered during the second week of June, just before a number of states began to reverse or suspend the reopenings of their economies to try to beat back the virus.
The number of laid-off workers who applied for unemployment benefits fell to 1.48 million last week, the 12th straight drop and a sign that layoffs are slowing but are still at a painfully high level.
For the 47 percent who are worried about money issues currently, 23 percent said their cause of stress revolved around everyday expenses, which Bankrate noted was down from the 32 percent who said the same last year.
Earlier this week, Treasury Secretary Steven Mnuchin suggested the Trump administration was considering sending Americans another round of stimulus checks to offset the financial pain caused by the coronavirus pandemic and the related economic lockdown.