The US unemployment rate came in at 10.2%, the BLS said, lower than the 10.6% expected by economists. It was also down from 11.1% in May. April's 14.7% reading was the highest since the Great Depression of the 1930s.MORGAN STANLEY: The government's recession response has the stock market heading for a massive upheaval. Here's your best strategy to capitalize on the shift.
The data comes amid a crucial time as the US tries to recover from the damage caused by the virus, which triggered the worst recession since the Great Depression. Recent spikes in coronavirus cases have forced some states to pause or roll back their reopening plans, threatening a swift recovery. Throughout July, a number of indicators flashed warning signs that the economic recovery had lost momentum. High-frequency indicators such as data from Homebase — a scheduling app used by small businesses — and the Dallas Fed Mobility index, showed less growth in the number of people returning to work and participating in economic activity.as new COVID-19 cases spiked, and the Household Pulse Survey showed that employment fell by 4.
Many people want to stay unemployed as long as possible because the government is paying them more not to work.
Forecasts are not metrics and people going back to work after lay off can’t be reported as “added jobs” these people are just going back to work it’s not a new job created by economic growth. Wrong headline. Do you guys do this crap willingly/consciously or you just like fxck it?
😂🤣😂🤣the country of lies
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »