March 11, 2021 | Daily JAM, Morning Briefing |
New claims for unemployment dropped to 712,000 in regular state programs in the week ended March 6, the Labor Department reported today. That drop of 42,000 from the prior week was a bigger drop than economists had projected. Economists surveyed by Bloomberg were looking for 725,000 new claims in regular state programs.
February 1, 2021 | Daily JAM, Mid Term |
Granted this is just a projection, and that nobody really knows what the economy will look like over the next three years, but it’s still depressing news. The nonpartisan–although frequently reviled by the Trump administration–Congressional Budget Office projects that the U.S. unemployment rate won’t fall to pre-pandemic levels until 2024. The office says that the unemployment rate will fall to a still elevated 5.7% in 2021, to 5$ in 2022, and to 4.7% in 2023. From 2026 to 2031 the unemployment rate will average 4.1%, well above the 3.7% it average in 2019, the last pre-pandemic year. The unemployment rate was a historically low 3.5% in February 2020
October 8, 2020 | Daily JAM, Morning Briefing |
The number of initial claims for unemployment for the week ended October 3 was 840,000, the Department of Labor reported this morning. That was above the 820,000 projected by economists surveyed by Bloomberg. And up, er, I mean down, from the 849,000 new claims...
July 2, 2020 | Daily JAM, Morning Briefing |
The U.S economy added 4.8 million jobs last month in June. And the official unemployment rate fell to 11.1%. That's the good news. Unfortunately, the gains in jobs and the drop in unemployment are based on data from a survey that measured conditions in the week ended...
May 31, 2020 | Daily JAM, Saturday Night Quarterback |
...that the big news of the week will be Friday's report on April jobs. Economists surveyed by Bloomberg are forecasting that the economy lost another 8 million jobs in May. That's after the loss of 20.5 million jobs in April. These economists project that the...
May 7, 2020 | Daily JAM, Morning Briefing |
Initial claims for unemployment totaled 3.17 million for the week ended May 2, the Labor Department reported today. Economists surveyed by Bloomberg had projected 3 million new claims for the week. This week's total was down from the 3.85 million initial claims filed...
May 5, 2020 | Daily JAM |
One minute the Standard & Poor's was sailing along, up 1.91% at 3 p.m. New York time. And the next minute stocks were trending downward with the S&P 500 up only 0.75% at 3:42 p.m. The index closed ahead 0.90% for the day. What happened? Federal Reserve Vice...
November 29, 2018 | Daily JAM, Morning Briefing |
Yesterday, Wednesday November 28, U.S. stocks saw a huge bounce with the Standard & Poor's 500 climbing 2.3% on a speech by Federal Reserve Chairman "suggesting" that the Fed might slow the speed and limit the number of interest rate increases in 2019. Today,...
September 29, 2018 | Saturday Night Quarterback |
... economic news. Lot of economic news. It is the beginning of the month after all so we're due for all the data dumps from September. We get the Institute for Supply for Management's Purchasing Managers Index for Manufacturing (on Monday) and Services (on...
June 14, 2018 | Daily JAM, Notes You Need |
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
June 12, 2018 | Daily JAM, Morning Briefing, Short Term |
The summit between U.S. President Donald Trump and North Korean dictator Kim Jong Un produced nothing of import, apparently meeting financial market expectations for "much ado about nothing," and all eyes on Wall Street have shifted to what I'm calling Central Bank...
June 1, 2018 | Daily JAM, Morning Briefing |
The U.S. economy added 223,000 jobs in May, well ahead of the 190,000 gain expected by economists surveyed by Briefing.com Revised figures for April showed the economy adding slightly fewer jobs, a revised 159,000 new jobs versus an initial 164,000. The official unemployment rate fell to 3.8% in May from 3.9% in April, matching a 18-year low.
