Economics News Results

  • U.S. Unemployment Rate Fell to 13.3% in May -- 5th Update

    The U.S. labor market snapped back to life in May, restoring a chunk of the jobs it lost in the first two months of the coronavirus pandemic, although big obstacles lie ahead. After two months of carnage, employers added 2.5 million jobs last month, the most jobs added in a single month on records dating from 1948. The jobless rate fell to 13.3% from April's 14.7%, a post-World War II high. Employment remained down by nearly 20 million jobs, or 13%, since February, the month before the...

  • America's Employment Crisis Has Turned the Corner

    There are all kinds of reasons to doubt the accuracy of Friday's employment report. That doesn't mean the underlying message that the job market may have passed its nadir should be ignored. The big question now is how its recovery will develop.

  • Fed's Powell scheduled for congressional appearances June 16-17

    Federal Reserve Chair Jerome Powell will testify before the U.S. Congress on June 16 and 17 in hearings on the central bank's semi-annual monetary policy report.

  • States adopting 2021 budgets while Congress dithers

    States that are projecting fiscal 2021 revenue declines of more than 15% include California, Colorado, New Jersey, New Mexico, Oklahoma, and Vermont.

  • U.S. Unemployment Rate Fell to 13.3% in May -- 4th Update

    The U.S. labor market snapped back to life in May, restoring a chunk of the jobs it lost in the first two months of the coronavirus pandemic while facing big obstacles in the months ahead. After two months of carnage, employers added 2.5 million jobs last month, the most jobs added in a single month on records dating from 1948. The jobless rate fell to 13.3% from April's 14.7%, a post-World War II high. Employment remained down by nearly 20 million jobs, or 13%, since February, the month...

  • FOREX-Dollar lifted by jobs data, but records third straight weekly loss

    The dollar was modestly higher on Friday after data showed the U.S. labor market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week, as uncertainty about the U.S. economy capped gains. The Labor Department's employment report showed the jobless rate fell to 13.3% last month from 14.7% in April, which was a post-World War Two high.

  • Women struggle to get back to work in Canada as 'she-cession' weighs

    Women are having a harder time than men returning to Canada's labour force as persistent childcare issues weigh, and jobs in the male-dominated goods sector return faster than those in the service industry, data showed on Friday. Total employment increased by just 1.1% for women in Canada in May, compared with 2.4% for men, the Statistics Canada agency said.

  • Surprise U.S. unemployment rate drop leaves out blacks, Asians

    - The U.S. unemployment rate dropped unexpectedly in May, but not all workers benefited equally as joblessness among African Americans and Asians rose, signaling some minorities face a longer recovery as the economy slowly rebounds from the coronavirus shutdowns.

  • U.S. Unemployment Rate Fell to 13.3% in May -- 3rd Update

    The U.S. labor market snapped back to life in May, restoring a chunk of the jobs it lost in the first two months of the coronavirus pandemic while facing big obstacles in the months ahead. After two months of carnage, employers added 2.5 million jobs last month, the most jobs added in a single month on records dating from 1948. The jobless rate fell to 13.3% from April's 14.7%, a post-World War II high. Employment remained down by nearly 20 million jobs, or 13%, since February, the month...

  • Consumer Price Index Seen Unchanged in May -- Data Week Ahead

    The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. The FOMC announcement is scheduled for Wednesday at 2:00 p.m. ET, followed by a press conference with Fed Chairman Jerome Powell at 2:30 p.m. ET. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Tuesday 0600 Small Business Svy May 92.0 90.9 1000 Job Openings Apr N/A 6.19 M& Labor Turnover 1000 Wholesale Inventories Apr +0.4% -0.8% Wednesday 0830 Consumer Price Index M/M May +0.0%...

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