The US Bureau of Labour Statistics on Friday said the US added 1.37 million jobs in August. That slightly exceeded the 1.35 million payroll additions expected by economists surveyed by Bloomberg. It marks the fourth straight month of job additions as the economy tries to claw back from a coronavirus-induced […]
JPMorgan CEO Jamie Dimon said in a Tuesday interview with MSNBC that “we’re in a recession, but you’re going to have a delayed effect of seeing the normal effect of recession.” The normal recession effects might not come until “late this year or early next year.” He also said that […]
Two US economic-relief programs have started to expire in recent days: the federal eviction moratorium that ran out on Friday, and the extra $US600 weekly unemployment benefit that concludes this weekend. In the coming months, there are additional expirations the US faces that could derail the economic recovery if extensions […]
States that reopened their economies early from coronavirus pandemic shutdowns saw no economic gain over those that had longer closed periods, according to a recent study from the Centre for American Progress. In states with shorter shutdown periods, troubles with paying a mortgage, rent, and loss of earnings increased for […]
The small business optimism index rose to 94.4 in May from 90.9 in April, the National Federation of Independent Business survey released Tuesday showed. The survey’s uncertainty index jumped seven points to 82, but expected conditions in the next six months also ticked up five points to a net 34%, […]
The Elzarka family has owned Beninni, a men’s formal wear store in Hayward, California, for 30 years. The shop was forced to shut down in the coronavirus lockdown, and has tried and failed to get government assistance loans through the coronavirus relief package. Shady Elzarka, whose dad founded the store, […]
As the second round of Payroll Protection Program funding gets underway, Main Street’s outlook is grim: JPMorgan is already telling customers to look elsewhere if they want to join the queue for the fresh round. And Bank of America told staff that it is “widely recognised that it will likely […]