Markets

S&P 500 and Nasdaq hit records on positive labour-market data

US stocks rose for the fourth straight session on Thursday as investors cheered strong economic data. Weekly jobless claims dropped to 779,000 last week, landing below forecasts and marking the third week of declines. GameStop, AMC, and other Reddit favourites tumbled as day traders rushed to dodge additional losses. Sign […]
S&P 500 and Nasdaq hit records on positive labour-market data
News

US weekly jobless claims slide to 847,000 as stimulus debate continues

New US jobless claims for the week that ended Saturday totaled 847,000, down from the previous week’s revised total of 914,000. Economists surveyed by Bloomberg expected claims to dip to 875,000. Continuing claims, which track Americans receiving unemployment benefits, sank to 4.8 million for the week that ended January 16. […]
US weekly jobless claims slide to 847,000 as stimulus debate continues
News

US weekly jobless claims dip to 787,000 as unemployment crisis continues into 2021

New US unemployment filings for the week that ended Saturday totaled 787,000, the Labour Department said Thursday, snapping a two-week streak of declines. Economists surveyed by Bloomberg expected a reading of 800,000 claims. The total also lands just below the previous week’s revised total of 790,000. Continuing claims, which track […]
US weekly jobless claims dip to 787,000 as unemployment crisis continues into 2021
Markets

US stocks edge towards new records after jobless claims fall more than expected

US stocks gained slightly on Thursday after falling jobless claims offered an encouraging sign of labour-market improvement. New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the week that ended Saturday. Economists surveyed by Bloomberg expected a reading of 775,000. The mild uptick puts the S&P 500 at […]
US stocks edge towards new records after jobless claims fall more than expected
News

A government watchdog says the Labour Department has been releasing flawed data — and finds that most states underpaid jobless Americans

The Labour Department reported false counts of week-to-week jobless-benefits claims, and several states underpaid unemployed Americans through a key economic relief program, the Government Accountability Office said Monday. Inconsistent state data, claims backlogs, and potential fraud in the benefits system resulted in “flawed week-to-week comparisons” of jobless-claims data, the government […]
A government watchdog says the Labour Department has been releasing flawed data — and finds that most states underpaid jobless Americans
News

4 jarring signals that show the US economic recovery is weakening

Several economic indicators updated in recent weeks suggest the ongoing US recovery is deteriorating as COVID-19 cases spike and new stimulus remains absent. Cities including Chicago, San Francisco, and New York City have intensified partial lockdowns to curb the virus’s spread. The restrictions threaten to further slow the nation’s bounce-back […]
4 jarring signals that show the US economic recovery is weakening
Markets

Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings

US equities climbed higher on Thursday as rallying tech stocks and encouraging economic data reversed some of Wednesday’s plunge. Apple,Amazon,Facebook, and Alphabet led gains ahead of the companies’ third-quarter reports. US GDP grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading […]
Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings
Markets

The COVID-19 jobs crunch is already 10 times worse than the 2008 crisis, and a 2nd wave could leave 80 million people unemployed by the end of 2020, OECD warns

The Organisation for Economic Co-operation and Development said that by one metric the employment crunch triggered by coronavirus has been 10 times worse than what was seen during the 2008 financial crisis. For its 37 member countries, the OECD said that the unemployment rate – the percentage of the labour […]
The COVID-19 jobs crunch is already 10 times worse than the 2008 crisis, and a 2nd wave could leave 80 million people unemployed by the end of 2020, OECD warns