Why Payrolls and Unemployment Confused the Markets
The financial markets and Main Street agree that each release of the U.S. Department of Labor's Employment Situation report is one of the most important as a fair measure of the economy.
Economy
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Despite Rising COVID-19 Cases, Services Economy Keeps Recovering
The Institute for Supply Management's readout for the services sector posted its second monthly gain in a row for July.
Small Business Hiring in July Puts Cloud Over Unemployment Data
Economists look closely ahead of each monthly unemployment and payrolls report at hiring trends in the private sector and in small businesses.
It’s 121 Degrees in This City, and That Won’t Change Soon
The hottest place in the world right now is a city in Tunisia, where it is over 121 degrees Fahrenheit and isn't expected to cool much soon.
These 10 Nations Have the Worst Hunger Problems in the World
The COVID-19 pandemic is making the problem of food insecurity even worse for the world's poorest countries. A new report from Oxfam illustrates the extent of the damage.
COVID-19 Kindles Corporate Debt Default Surge
Corporate debt defaults soared in the second quarter according to the latest report from Moody's. And it will get worse the longer the COVID-19 pandemic lasts.
US Consumer Sentiment Tumbled in July
The final reading for July from the University of Michigan consumer sentiment index revealed a 7.2% month-over-month drop in consumer sentiment and a decline of more than 26% compared to July of last year.
Unemployment in This City is Only 3.6%
Can a small city that is relatively isolated and has several small businesses ride out a recession that has badly damaged almost every other part of the country?
This American City Has Unemployment of 34.3%
Hammered by a downturn in the gaming industry and torn to shreds by Hurricane Sandy, Atlantic City has the highest unemployment rate of any city in the country.
US GDP Plunges by 33% as Personal Income — and Savings — Soar
U.S. second-quarter GDP fell at an annualized rate of nearly 33% in the second quarter, the largest decline since reporting began following World War II. Consumer spending fell by 25%.
It Is 124 Degrees in This City Now, Which Is Deadly
Global experts warn that the hottest areas in the world will get much hotter. Two locations in Iraq topped 124 degrees today.
Federal Reserve Remains Committed to Zero Interest Rates and Asset Purchases (Forever?)
The world and the financial markets are both addicted to government sponsored economic stimulus. Companies love stimulus and millions of consumers currently have no job and have little to no prospects of securing a…
The Real Recovery May Not Track Stock Market Euphoria in the Quarters and Years Ahead
24/7 Wall St. has been tracking GDP forecasts and other economic forecasts around the pandemic. Unfortunately, the great economy of 2019 will not be seen for quite some time. Just don't bother telling that…
July Consumer Confidence Pulls Back as COVID-19 Surges Again
The Conference Board's July survey of U.S. consumer confidence showed that Americans have become more worried about the impact of COVID-19 on the economy and the job market.
Global Economy Could Be Battered for Years According to These Experts
The primary debate among economists is how badly the world economy is damaged now and will be in the future.