FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease , at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford
The outcome led a New York Federal Reserve weekly index of projected growth in gross domestic product to improve slightly.But while the claims statistics indicate some rehiring continues, the numbers remain massive by historical standards. Concerns are growing that the continued spread of the virus and the inability of the White House and U.S. Congress to agree on new government support for ailing businesses and the unemployed may stifle the recovery altogether.
The combination of that support led personal income to grow despite widespread layoffs, supported jumps in retail spending in May and June, and allowed many Americans to bolster savings and pay down debt - unusual in a recession. At this point there seems little extra relief in sight. Democrats and Republicans in Congress remain deadlocked over further emergency aid even with the U.S. economy roughly 13 million jobs short of where it was in February. President Donald Trump has ordered more benefits be paid, but it is unclear if his order has legal authority.
Estimates of retail foot traffic using cell phone locations have shown little change, according to data collected by Safegraph and Unacast, and for both companies remain below recent highs in mid-June.The number of employees on the job at small businesses whose time records are kept by Homebase fell slightly, and growth in factory work shifts showed little change among companies whose time records are maintained by data firm Kronos.
The Republicans felt Recess was more important than the People with no means of financial support. Peoples taxes pay your salaries & they pay so Trump can burn $3.5m on every golf course he flies to. Do you think turning your back on them will get you a vote!
No one cares about poor people in this country. Let them hit the streets and go hungry!
Just wait for Generalstrike to happen, you will have plenty to write about
It's because Trump (and Mitch and others) do not want any new funding for the USPS or funding to help ppl vote. That needs to be the focus now. Otherwise, that it's stalled makes no sense. (It would help markets, and all economists and finance ppl say it's needed.)
But for trumps disastrous covid19 response, the economy wouldn't be in this depressed state. His failures have made every aspect worse, including death toll. Tax cuts can't stop a pandemic. Trump/GOP public health strategy is: let them die.
Releasing it to the nation itself would be a 3rd phase testing for them
The TrumpDepression is UNDERWAY this Confederate President is doing to the Union what the Union did to the Confederacy.
GOPCorruptionOverCountry
The economy may be tanking. Any bets on how long before Trump asks Congress to pass a new relief bill?
The dude in green is just vibin tho
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Source: Reuters - 🏆 2. / 97 Read more »