Economics News Results

  • Italy's Unemployment Rate Fell in April as Inactivity Climbed

    Italy's unemployment rate fell significantly in April as laid-off workers refrained from looking for jobs amid a strict lockdown to contain the coronavirus. The country's unemployment rate was at 6.3% in April, sharply down from the 8.4% reading in March, data from Italy's statistic agency Istat showed Wednesday. This is the lowest figure since November 2007..

  • How Many U.S. Workers Have Lost Jobs During Coronavirus Pandemic? There Are Several Ways to Count

    Friday's U.S. jobs report from the Labor Department is expected to show U.S. employers shed nearly 30 million positions from payrolls this spring as a result of the coronavirus pandemic and related shutdowns-- but that is just one of several varying estimates of job destruction. Other data suggest layoffs might have topped 40 million, while another count shows only about 20 million are tapping unemployment benefits. No matter the measure, job loss triggered by the pandemic is...

  • German Jobless Claims Rose at Slower Pace in May

    German jobless claims rose in May but less than in April, when the coronavirus lockdown took its toll on the German labor market. Jobless claims rose by 238,000 in May after rising by 372,000 in April, the Federal Employment Agency said Wednesday. Economists polled by Dow Jones Newswires had forecast an increase of 210,000..

  • China Caixin Service PMI Rebounds Sharply in May

    BEIJING--A private gauge of China's service sector activity rebounded sharply to a nearly ten-year high in May as domestic demand recovered amid government measures to buoy economic growth. The Caixin China services purchasing managers index rose to 55.0 in May from 44.4 in April, Caixin Media Co. and research firm Markit said Wednesday. The reading stood above the 50 mark that separates expansion from contraction, after it plunged below 50 for three straight months due to...

  • Australian Economy Contracts in 1Q, Setting Scene for Recession -- Update

    SYDNEY--Australia's economy contracted in the first quarter for the first time since 2011, as the impact of bushfires and coronavirus-related lockdowns scuttled consumer buying and confidence, setting the scene for the country's first recession in nearly 30 years. The economy contracted by 0.3% in the first three months of the year from the previous quarter, with on-year growth at 1.4%, the Australian Bureau of Statistics said Wednesday. With over a third of its exports...

  • Australian Economy Contracts in 1Q, Setting Scene for Recession

    SYDNEY--Australia's economy contracted in the first quarter for the first time since 2011, as the impact of bushfires and coronavirus-related lockdowns scuttled consumer buying and confidence, setting the scene for the country's first recession in nearly 30 years. The economy contracted by 0.3% in the first three months of the year from the previous quarter, with on-year growth at 1.4%, the Australian Bureau of Statistics said Wednesday. With over a third of its exports...

  • May Unemployment Rate Seen at 19.5% -- Data Week Ahead

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Wednesday 0815 ADP Jobs May -8750 K -20236 K 0945 Markit Services PMI May 37.5 36.9* 1000 ISM Non-Mfg Svy May 44.0 41.8 1000 Factory Orders Apr -12.5% -10.3% Thursday 0830 Jobless Claims May 30 1800 K 2123 K 0830 U.S.

  • New York Business Activity Recovers From Lows, Outlook Improves -- ISM

    Business activity in the New York metropolitan area bounced off record lows in May, while the six-month outlook recovered strongly, data from a survey taken by the Institute for Supply Management showed Tuesday. The ISM-New York Report on Business' current business conditions index rose 15.2 points to 19.5 in May, up from an all-time low of 4.3 in April. Despite the improvement, the reading is still well below the 50- mark that separates economic expansion from contraction.

  • Coronavirus Hit on U.S. Economy May Linger Until 2029; Indian Cases Keep Surging -- Update

    --A survey of nursing homes in the U.S. found some 26,000 coronavirus deaths, a figure that likely falls short of the full toll. --The U.S. economy could take almost a decade to fully recover from the pandemic and related shutdowns, a U.S. budget agency reported. --India reported a near-record rise in new cases, with 8,171 in 24 hours, but the government continues to ease lockdown measures.

  • South Korea's Inflation Slows to Eight-Month Low in May

    South Korea's consumer inflation slowed to an eight-month low in May as the coronavirus pandemic continued to weigh on the economy. The benchmark consumer-price index fell 0.3% from a year earlier after the prior month's 0.1% gain, said the statistical office Tuesday. The latest reading--the lowest since September--missed market expectations for a 0.2% decrease.

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