Economics News Results

  • 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...

  • 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%...

  • U.S. Unemployment Rate Fell to 13.3% in May -- 2nd Update

    The U.S. jobless rate fell to 13.3% and employers added 2.5 million jobs in May, early signs the labor market is mending as the economy started to reopen following lockdowns related to the coronavirus pandemic. Employment rose sharply across industries, including leisure and hospitality, construction, education and health services, and retail, the Labor Department said. "These improvements in the labor market reflected a limited resumption of economic activity that had been...

  • Correction to Stock Market Comment Article

    The Labor Department said the economy added 2.5 million jobs in May. "Stock Futures Surge on Surprisingly Strong Jobs Report" at 8:55 a.m. ET incorrectly said the gains were for April. (END) Dow Jones Newswires 06-05-20 0931 ET Copyright (c) 2020 Dow Jones& Company, Inc..

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

    The May U.S. jobless rate fell to 13.3% and employers added 2.5 million jobs, early signs the labor market is mending after the coronavirus pandemic shut down parts of the economy nearly three months ago. "These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus pandemic and efforts to contain it," the Labor Department said Friday in a release. The jobless rate fell from 14.7% a month...

  • U.S. Labor May Nonfarm Payrolls Rise, Unemployment Rate Declines

    The U.S. jobless rate fell to 13.3% in May and payrolls rose by 2.5 million, as signs suggest jobs are returning.

  • Unemployment Expected to Hit New Postwar High; Signs of Hiring Seen

    The U.S. unemployment rate likely soared in May to a new post-World War II high, though there are signs the labor market is slowly mending from the coronavirus pandemic and related shutdowns. The Labor Department is set to release its monthly snapshot of employment Friday at 8:30 a.m. ET. Economists project millions of additional jobs were cut last month, on top of the 21.4 million jobs shed in March and April.

  • Hong Kong Dollar's Rally Prompts Monetary Intervention

    The Hong Kong Monetary Authority intervened to defend the local currency's peg to the U.S. dollar, selling the unit after it hit the strong end of the trading band against the greenback. The city's de facto central bank sold US $126 million of Hong Kong dollars at HK $7.75 per USD during New York trading hours, injecting liquidity into the foreign-exchange market. The move will raise the aggregate balance of the funds parked by banks in clearing accounts at the monetary authority by...

  • German Manufacturing Orders Had New Historic Plunge in April

    German manufacturing orders declined sharply on month in April, seeing its largest drop on record due to the coronavirus, federal statistics office Destatis said Friday. Manufacturing orders fell 25.8% in April in adjusted terms after an upward revised 15.0% decline in March, according to Destatis. Economists polled by The Wall Street Journal expected orders to decline 19.1% from the previous month.

Search News

Filter Results

Publication Date
Topic
Provider

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.