Thursday, September 23

Economic Data

Economic Data, Economic Indicators, Economy, Initial Jobless claims, Jobless Claims, Labor Market, Labor market data, Markets, Policy, Politics, Unemployment benefits, Unemployment insurance, US jobless claims, US Labor Market, US weekly jobless claims

US jobless claims drop to pandemic low of 310,000 as federal unemployment benefits expire

Weekly jobless claims fell to 310,000 last week, setting a fresh pandemic-era low. Economists expected claims to slide to 335,000. The print marked a second straight weekly decline. Continuing claims fell to 2.78 million for the week that ended August 28, landing just above estimates. LoadingSomething is loading. Filings for unemployment insurance fell last week as the gover...
Andy Kiersz, BI Graphics, Bureau of Labor Statistics, Economic Data, Economic Indicators, Economic Recovery, Economy, Job Growth, Jobs Report, Labor Market, Labor market data, Markets, nonfarm payrolls, Unemployment Rate, US jobs, US Labor Market, US nonfarm payrolls

July jobs report beats estimates as businesses add 943,000 payrolls amid steady recovery

July job gains totaled 943,000 payrolls in July, exceeding the median estimate of 870,000 new jobs. The unemployment rate fell to 5.4% from 5.9%, beating the 5.7% forecast. The print shows job creation persevering as COVID cases rebounded and enhanced unemployment benefits lapsed. LoadingSomething is loading. Job growth in the US exceeded economists' expectations in July, si...
Andy Kiersz, BI Graphics, Commerce Department, coronavirus economy, coronavirus recovery, Economic Data, Economic Indicators, economic output, Economy, GDP, GDP growth, gross domestic product, Markets, US economic recovery, US GDP, US GDP 2021

The US economy is growing way more slowly than expected, but it’s still bigger than it was before the COVID-19 recession

US gross domestic product grew at an annualized rate of 6.5% in the second quarter of 2021. The jump missed the 8.5% growth estimate but placed GDP above its pre-crisis peak for the first time. While output has fully retraced its virus-fueled drop, the labor market remains far from fully healed. LoadingSomething is loading. US gross domestic pr...
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S&P 500, Nasdaq close at record highs as mega-cap tech spurs gains

The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City Reuters US stocks traded near record highs Monday spurred by tech shares The yield on the US 10-year Treasury note was trading at 1.482%. Bitcoin rose while oil and gold slipped. US stocks closed mostly higher on Monday, with the S&P 500 and Nasdaq both hitting record highs on the back of gains in mega-cap technology stocks. Tech companies such as Apple, Amazon, Facebook, and Zoom outperformed. A judge on Monday dismissed antitrust lawsuits by the Federal Trade Commission that were seeking to brand the social media giant as an unlawful monopoly.Later this week, investors will turn their attention to US non-farm payroll data on Friday. This will give an indication of how consistently the ec...
Economic Data, Economy, Ellen Zentner, Labor Market, labor shortage, Markets, Morgan Stanley, Pay Growth, US Labor Market, Wage Growth, Wages, worker shortage

One chart shows the 10 industries poised to pay you a higher salary soon, and the 10 that probably won’t, according to Morgan Stanley

The labor shortage is uneven, leaving some industries more likely to raise wages than others. The hotel, restaurants, and leisure sector is most likely to raise pay, Morgan Stanley said Monday. Independent power and renewable electricity businesses are the least likely to hike wages, the bank added. LoadingSomething is loading. ...