U.S. labor market struggling, but light at the end of tunnel | Reuters
The number of Americans filing new applications for unemployment benefits fell slightly last week as the labor market continued to tread water, but a drop in new COVID-19 cases has raised cautious optimism that momentum could pick up by the spring.
Latest jobs report shows why the unemployment rate needs fixing - Phil Davis
Many economists would agree that the official U.S. unemployment rate is an inadequate measure of actual labor market conditions. Although this is one of the most cited pieces of data on the economy as a whole, not many people understand how this indicator is calculated and who is and – more importantly – who isn’t included in it. The latest data, which found that joblessness fell from 6.7% in December to 6.3% in January, shows why.
U.S. Economy Slows Sharply As Pandemic Resurges : NPR
The Commerce Department says the U.S. economy grew just 1% in the last three months of the year, as a rise in coronavirus infections weighed on in-person businesses like restaurants.
U.S. women, workers of color bear brunt of December job losses
The U.S. labor market lost jobs in December for the first time in eight months, while women and workers of color continue to bear the brunt of job losses as the coronavirus pandemic rages across the U.S.Unemployment for women and Hispanic workers rose in December for the first time in eight months,…
World Bank sees subdued recovery in 2021 and plenty of risk
WASHINGTON (AP) — The global economy will experience a subdued recovery this year from the devastating pandemic, the World Bank predicted Tuesday, but it warned that the near-term outlook is...
How the Economy Is Actually Doing, in 9 Charts - The New York Times
The unemployment rate doesn't tell the whole story. We talked to a panel of economists to find out what other measures can shed light on whether we're in a short-term crisis — or the start of a long recession.
U.S. Is Officially In Recession. How Long Will It Last? : Coronavirus Updates : NPR
The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
US retail sales jump 7.5% in June, but economy still ails
BALTIMORE (AP) — U.S. retail sales climbed a solid 7.5% in June, a sign that the economy was healing right before infections from the coronavirus spiked again and dragged down hopes for a steady...
Hyperinflation – can be controlled with a different government. | econfix
Venezuela has been in the news for sometime with its economy spiralling out of control with the inflation rate last year at 100,000% – doubling roughly once a month. The occurrence of hyperin…
Infographic: A Decade of Grocery Prices for 30 Common Items
How much more expensive are basic staples than they were 10 years ago? This infographic tracks grocery prices for 30 common items like cheese, fruit, and eggs.
Report: Michigan economy hurting more than most states
The COVID-19 pandemic and resulting economic contraction is hurting Michigan more than many other states, according to a new survey from Comerica Inc.Regional economists at the Dallas-based bank report that Michigan's GDP fell at an annualized rate of 41 percent in the second quarter. During the…