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The Latest News about the economy

The economy ebbs and flows, but whether it’s strengthening or weakening, we report on how it affects you.

August jobs report shows V-shaped recovery continuing

The Bureau of Labor Statistics just released the jobs report for the month of August.  For the fourth consecutive month, the economy added more than 1 million jobs, an unprecedented record.  The actual number of jobs created was 1.4 million.  This indicates the sharp V-shaped recovery is continuing even faster than the most optimistic economists had forecasted. In January and February of ...

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Biden’s faulty economic policies only benefit the lowest income earners

As I listened to Democratic presidential candidate Joe Biden, who recently spoke in Wisconsin, I heard his plans for helping the bottom 15% of income earners. It’s notable that none of Joe Biden’s faulty economic policies, including this one, actually help the vast majority of Americans. In fact, since he wants to give things to people who can’t afford to ...

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US Economy Added 1.4 Million Jobs In August, Unemployment At 8.4%

Donald Trump success

The U.S. economy added 1.4 million jobs in August, while unemployment fell to 8.4%, according to Department of Labor data released Friday. Total non-farm payroll employment rose by 1.4 million in August, according to the Bureau of Labor Statistics (BLS) report, and the number of unemployed persons fell by 2.8 million to 13.6 million. The unemployment rate fell below 10% ...

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Jobless Claims Fall Slightly to About 1 Million, Unemployment Drops Below 10%

The number of Americans filing new unemployment claims decreased to 1,006,000 last week as the economy continues to suffer the effects of the coronavirus pandemic, according to the Department of Labor. The Department of Labor figure released Thursday represented a slight decrease of 98,000 new jobless claims compared to the week ending on Aug. 15. The number was about where ...

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GOP policies will lead to a quick, robust recovery

economy going up

In January 2009, the economy was in the middle of the worst recession since the 1930s.  President Obama and Vice-president Biden were sworn into office. Their policies led to the worst recovery ever.  If Biden is elected in November, the recovery from the current recession will be weak and very slow. To get the economy out of recession, start a ...

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Nearly Half Of Americans Say They’ve Saved More Money Or Paid Down Debt During Outbreak, Recession

About half of all Americans say they are saving money and paying down debt amid the coronavirus pandemic, according to an Associated Press poll published Tuesday. Roughly 45% of Americans surveyed said they saved more money than usual amid the pandemic, according to the poll. Nearly 30% of respondents in the poll said they are paying down debt faster than ...

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Apple Climbs to $2 Trillion in Market Value

Apple logo

Apple Inc. has become the first American company to reach $2 trillion in market value. The tech company’s price-per-share rose to $468.58 at 11:00 AM this morning, breaking the barrier, but has since fallen to $462.83 at market’s close (4:00 PM EDT). Apple joins Armaco, a Saudi Arabian oil company owned by the Saudi government as the second company to ...

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Weekly Jobless Claims Fall Below 1 Million For First Time Since March

Around 963,000 Americans filed new unemployment claims last week, marking the first time the figure dropped below 1 million since March, according to the Department of Labor. The Bureau of Labor Statistics figure released Thursday represented a decrease of 228,000 new jobless claims compared to week that ended Aug. 1. That number also beat Wall Street analysts’ expectations, according to ...

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July Jobs Report: 1.8 Million Jobs Added, Unemployment At 10.2%

The U.S. economy added 1.8 million jobs in July, while unemployment fell to 10.2%, according to Department of Labor data released Friday. Total non-farm payroll employment rose by 1.8 million in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1.4 million to 16.3 million. “In July, notable job gains occurred in ...

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‘Catastrophic’ Consequences For Small Businesses If There Is No Relief Bill, CEOs Tell Congress

Over 100 executives called for immediate action to save small businesses, in an open letter published Monday. The letter said failure to pass an assistance package would result in significant economic consequences. The United States gross domestic product fell 32.9% on an annualized basis between April and June, the Department of Commerce reported. “By Labor Day, we foresee a wave ...

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The Recession is deep, but likely short-lived

The Bureau of Economic Analysis announced that GDP in the second quarter of 2020 decreased by a whopping 32.9%. Since GDP declined by 5% in the first quarter, we had officially entered a recession. The current US recession is very deep. But it will likely turn out to be short-lived. In addition, the Labor Department announced Thursday that more than 1.4 Americans applied for ...

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LOCKDOWN LOSS: US Sees Worst-Ever Contraction For Second-Quarter GDP

The United States gross domestic product (GDP) fell 9.5% (32.9% annualized) in the second quarter of 2020, the Department of Commerce reported, marking the largest decline the country has ever seen, according to CNBC. In addition to the record drop in GDP, The Department of Labor reported Thursday that over 1.43 million Americans filed initial claims for unemployment last week, ...

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Gold Hits Record Price Amid Coronavirus, US-China Tensions

gold as legal tender

The price of gold rose to an all-time high Monday, reaching $1,943 an ounce and eclipsing the previous record of $1,921 per ounce set in September 2011, according to NBC News. The record high comes as the coronavirus pandemic and escalating U.S.-China tensions rattled investors, NBC News reported. Also contributing to the gold’s increasing value are low interest rates and ...

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