So much of the coronavirus rescue involves short-term payments that will expire this fall–will that trigger another wave of job losses?
Congress focused so much of the waves of coronavirus rescue money--extra unemployment, that $1200 one-time payment, grant/loans to small business, and the airlines bailout to mention only a few--around around short-term payments that expire after 10 to 12 weeks or a...
Another 4.4 million new claims for unemployment reported today
More than 4.4 million Americans filed for unemployment benefits for the week ended April 18, according to the Labor Department today. From March 15 to April 18 26.5 million people have filed initial claims for unemployment. Economists estimate that the national...
Just a reminder: weekly report on new claims for unemployment tomorrow
The projections from economists are that the total initial claims for unemployment will fall to 4.5 million for the week ended on April 18. That would still be a horrendous number. The total weekly figure at the beginning of this spike was 280,000. Last week, 5.25...
Watch out for a wild Thursday (and maybe even Wednesday)
The U.S. stock markets are closed on Friday, April 10, for Good Friday. That sets up a short week and a long weekend--which would be likely to produce higher than normal volume and volatility on Thursday anyway as traders and investors bought and sold to position...
Economy loses 701,000 jobs in March; April looks much worse
The U.S economy lost 701,000 jobs in March, the Bureau of Labor Statistics announced this morning. The unemployment rate rose to 4.4% in March from 3.5%, a 50-year low, in February. The survey behind the numbers was completed by March 12 so it didn't capture the full...
Initial claims for unemployment soar to 6.65 million
I'm finding it hard to wrap my head around exactly how bad the economy is and how fast the collapse has been. Today's report of 6.65 million new claims for unemployment for the week ended March 28 exploded through the record number of new claims set just the prior...
Trick or Trend: Washington, we have a problem: Consumer debt surges while average hourly wages rose 7 cents in January
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Largely...
Wall Street salivating over tomorrow’s official jobs report after strong ADP numbers
The ADP Research Institute report on private payrolls, released yesterday, showed a gain of 291,000 jobs in January. That blew away economist forecasts for 157,000 net new jobs in the month, according to Bloomberg's survey of economists. The January gain would be the...
Surprise! U.S. economy adds 266,000 jobs in November; unemployment drops to 3.5%
The United States added 266,000 jobs in November and the official unemployment rate fell to 3.5%. The results were buoyed by the return to jobs of 41,300 General Motors workers after the settlement of that strike. But the November total was still impressively stronger...
Stocks rally on September jobs report–the “why,” though, is complicated
This morning the Bureau of Labor Statistics reported that the economy added 136,000 jobs in September. And stocks rallied with the Standard & Poor's 500 closing the day up 1.10% to 2942.56 and the Dow Jones Industrial Average ending up 1.11%. The NASDAQ Composite...
I think we can call this a data dependent market for Friday
The trend in U.S. financial markets this week has pointed down on data that shows the U.S. economy is slowing. Certainly the disappointing numbers in both the manufacturing and services Purchasing Managers Indexes have supported that conclusion. That could all change...Jim’s Stock Alerts
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