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
Markets

One measure of unemployment suggests Biden’s $1.9 trillion stimulus plan could do more harm than good, says one top Wall Street strategist

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 […]
One measure of unemployment suggests Biden’s $1.9 trillion stimulus plan could do more harm than good, says one top Wall Street strategist
News

‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says

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 […]
‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says
Markets

The coronavirus outbreak is causing a historic spike in US layoffs. Here’s what 4 Wall Street experts are saying — and how much worse they think it can get.

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 […]
The coronavirus outbreak is causing a historic spike in US layoffs. Here’s what 4 Wall Street experts are saying — and how much worse they think it can get.