Americans filed another 4.4 million jobless claims last week, the Labor Department said yesterday, bringing the five-week total stemming from the coronavirus pandemic to 26.5 million.
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March Existing Home Sales Fall—But Worst Is Yet to Come
After a promising start to the spring home-buying season, existing home sales tumbled in March to a nearly five-year low, the National Association of Realtors reported yesterday—and because of the coronavirus pandemic, the outlook for April isn’t any better.
Another 5.2 Million Fill for Unemployment; 4-Week Total Rises to 22 Million
The Labor Department reported a seasonally adjusted 5.245 million people filed initial unemployment claims for the week of ending April 11, marking the fourth consecutive week of multi-million claims and bringing total claims filed in the past four weeks to more than 22 million.
‘Coronavirus Effect’ Takes Aim at March Housing Starts
The economic effects of the coronavirus pandemic showed up in March housings starts, which fell by more than 22 percent, HUD and the Census Bureau reported yesterday.
Round 3: Initial Unemployment Claims Pile Up 3rd Week in a Row
Nearly 6.6 million Americans filed new applications for unemployment benefits during the first week of April, the Labor Department reported yesterday, bringing the total number over the past three weeks to nearly 17 million.
First Wave of Employment Losses Smack March Jobs Report
Was it just last month that the nation’s unemployment rate matched a 50-year low? Yes, it was. But that was a lifetime ago in the Age of the Coronavirus.
Another Week for Record Unemployment Claims
The Labor Department yesterday reported a record 6.648 million Americans filed initial unemployment insurance claims last week, smashing the previous record set the previous week.
March Consumer Confidence Takes Sharp Decline
The Conference Board, New York, reported its Consumer Confidence Index declined sharply in March, as consumers’ short-term outlook all but collapsed.
For 3.3 Million Americans, Coronavirus Economy Just Got Real
The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.
GDP Report Positive, BUT…
Real gross domestic product increased at an annual rate of 2.1 percent in the fourth quarter, according to the “third” (final) estimate by the Bureau of Economic Analysis.