US recovery from pandemic recession is showing momentum
Powered by consumers and fueled by government aid, the U.S. economy is achieving a remarkably fast recovery from the recession that ripped through the nation last year on the heels of the coronavirus and cost tens of millions of Americans their jobs and businesses. The number of people seeking unemployment aid — a rough reflection of layoffs — last week reached its lowest point since the pandemic struck. Economists say that widespread vaccinations and declining viral cases, the reopening of more businesses, a huge infusion of federal aid and healthy job gains should help sustain steady growth.
Ante rises in fight for workers
Potential jobs candidates are met by a 7-foot robot of embossed steel, aluminum and plastic upon entering industrial automation and light assembly firm Morrell Group. A soldier, of sorts, reminiscent of the red-armored Master Chief from the popular Xbox video game Halo. But instead of battling for…
Jobless claims rise in Michigan, likely linked to chip shortages
Despite new U.S. jobless claims reaching the lowest point since the pandemic began more than a year ago, claims in Michigan rose last week.
For the week ending April 17 in Michigan, 21,861 filed new unemployment claims, up from 16,470 the week prior.
Nationally, 547,000 filed new claims last…
U.S. producer prices increased by more than forecast in March
U.S. producer prices climbed more than forecast last month in a broad advance, indicating inflationary pressures continue to build across the nation's economy.The producer price index for final demand increased 1 percent in March from the prior month after a 0.5 percent gain in February, the Labor…