U.S. employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month yet still remained far short of regaining the colossal losses it suffered this spring.
The confidence index was at a high of 132.6 in February 2020 before falling sharply in March and April.
Friday’s Commerce Department report showed that Americans stepped up their spending in May despite a 4.2% decline in personal income, which had soared by 10.8% the previous month.
The number of laid-off workers who applied for unemployment benefits fell to 1.48 million last week, the 12th straight drop and a sign that layoffs are slowing but are still at a painfully high level.
A report could help illustrate a bipartisan agreement in Congress on next month’s fifth, and possibly final, COVID-19 response bill.
For the 47 percent who are worried about money issues currently, 23 percent said their cause of stress revolved around everyday expenses, which Bankrate noted was down from the 32 percent who said the same last year.
Sales of new homes rose a surprisingly strong 16.6% in May suggesting that the reopening of major parts of the country were giving a boost to the housing market.
The National Association of Realtors said Monday that the monthly decline pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since a home buyers tax credit expired in October 2010.
Long-term U.S. mortgage rates fell this week as the benchmark 30-year home loan reached a new all-time low.
The latest figure from the Labor Department marks the 11th straight weekly decline in applications since they peaked at nearly 7 million in March.
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.
U.S. employers laid off 7.7 million workers in April _ a sign of just how deep the economic hole is after the closure of thousands of offices, restaurants, stores and schools during the pandemic.
The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers.
Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
If you’re one of the millions of Americans making less or receiving unemployment benefits because of the coronavirus pandemic, you’re probably working to recalibrate your finances.
Call it realism or pessimism, but more employers are coming to a reluctant conclusion: Many of the employees they’ve had to lay off in the face of the coronavirus pandemic might not be returning to their old jobs anytime soon.
The unemployment rate could reach 16% or more. Twenty-one million jobs may have been lost in April.
Roughly 33.5 million people have now filed for jobless aid in the seven weeks since the coronavirus began forcing millions of companies to close their doors and slash their workforces.