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Jobs Tag

Last week's unemployment claims went up by 181,000 to 965,000, which is another sign the economy is having a tough time with COVID-19 spikes. This is the biggest jump since August.

Congress will vote Monday night on a COVID-19 relief bill worth $900 billion along with a $1.4 trillion spending bill to cover the remainder of the 2021 Fiscal Year. The Democrats wanted a $2.2 trillion COVID-19 relief bill before the election, but Republicans offered $900 billion. The left only agreed to that amount after their guy won the presidential election.

About 1.434 million Americans filed unemployment claims last week as states issue another shutdown due to spikes in coronavirus cases. The GDP also crashed to a 32.9% annualized rate, which is the biggest drop on record. Overall, the GDP dropped 9.5% between the first and second quarters. But we have to remember the GDP report contains numbers between March and June. It doesn't tell us what is happening now or tomorrow.

Fox Business reported that 1.48 million Americans filed unemployment claims last week:
Another 1.48 million Americans filed for unemployment benefits last week, signaling a slow economic recovery from the coronavirus pandemic and related lockdown as layoffs remain historically high, even as many businesses have reopened.