The central bank's policymakers now see 2021 GDP growth landing at 6.5%, well above the prior estimate of 4.2% expansion.
Economists at Goldman Sachs said they expect a "hiring boom" in 2021 to cut the unemployment rate as the economy reopens.
The proportion of working Americans compared to total population hit a record low in 15 states in 2020, but 23 states' ratios were above average.
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. […]
The U-6 unemployment rate – a less popular reading than the commonly cited U-3 – suggests additional fiscal support could be unnecessary and pose serious risks, says James Paulsen, chief investment strategist at The Leuthold Group. The gauge – which includes those working part-time for economic reasons and workers only […]
The US economy won’t return to the exact same state it was in before the pandemic, Federal Reserve Chair Jerome Powell said Thursday. The health crisis is accelerating digitization throughout the economy, and Americans already slammed by the virus’s fallout are at the highest risk of losing their jobs, he […]
US stocks edged lower on Friday as investors mulled former Vice President Joe Biden’s election victory, better-than-expected economic data, and the market’s dwindling momentum. Biden is projected to be the country’s next president after taking the lead in Pennsylvania and Georgia Friday morning, according to Decision Desk HQ. On the […]
US jobless claims increased by 70,000 to 281,000 for the week ending March 14, exceeding economist estimates for a 220,000 uptick, according to data released Thursday. In just a week’s time, jobless claims could explode to a record 2.25 million, the largest increase in initial jobless claims and the highest […]