US - Econ. Slowdown - How deep & long ? 06 (Oct 16 - Jul 22)

[winston]

These sectors are seeing the greatest gains

Restaurants and bars added back nearly 1.4 million jobs in May as they started reopening, according to the Bureau of Labor Statistics.

The construction industry added 464,000 jobs, gaining back nearly half of what it lost in April.

Retail stores brought back 367,800 jobs, with clothing stores seeing the biggest gains.

Factories added 225,000 jobs as plants fired up again.

Dentist offices reopened, leading to the return of 244,800 jobs.

Source: CNN

https://edition.cnn.com/2020/06/06/econ ... 1532029233

[behappyalways]

2020.06.07【文茜世界財經周報】跌破經濟學家眼鏡　美5月就業強彈由負轉正
https://m.youtube.com/watch?v=DhO8XFspzj4

[behappyalways]

U.S. layoffs ease in April; hiring slumps to record low
https://www.reuters.com/article/us-usa- ... SKBN23G27L

[winston]

Second Wave?

A month into its reopening, Florida reported 8,553 new coronavirus cases this week—the most of any seven-day period.

Texas reported hospitalizations jumped 6.3% to 2,056, the highest since the pandemic emerged, and the third consecutive daily increase.

It will take a couple of weeks to know for sure whether this is the second wave.

But by then, one expert said, “it’s going to be pretty late.”

More than 111,000 Americans have already perished.

Source: Bloomberg

[winston]

Slower rise in US jobless claims of 1.5m, but jobless claims at 47m

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.

The latest figure from the Labor Department marked the 10th straight weekly decline in applications for jobless aid since they peaked in mid-March when the coronavirus hit hard. Still, the pace of layoffs remains historically high.

More than 47 million new jobless claims have been filed since the deadly coronavirus crisis took root three months ago.

The weekly reports on applications for unemployment benefits track layoffs. But they don’t directly account for hiring, which can offset layoffs. The surprise job gain in May suggests that some employers are recalling laid-off workers.

Private real-time data also points to steady, if modest, rehiring. Data from Kronos, whose software tracks workers’ hours, shows that the number of shifts worked has recovered steadily since bottoming in mid-April.

Shifts worked have risen 25 percent since then, recovering nearly half the work that was lost to the pandemic-induced business shutdowns.

“The growth in shifts worked ... indicates that furloughed employees are being called back to work as each state opens up,” said Dave Gilbertson, a Kronos executive.

Twenty-four states reported a rise in applications for jobless aid last week, up from just four the week before, though the state data isn’t adjusted for seasonal trends so it can be volatile. California, New York and Massachusetts reported sharp increases. Florida, Georgia and Texas, some of the earliest states to reopen their economies, reported large declines.

The total number of people who are receiving unemployment aid fell slightly, a sign that some people who were laid off when restaurants, retail chains and small businesses suddenly shut down have been recalled to work.

Last week’s jobs report showed that employers added 2.5 million jobs in May, an unexpected increase that suggested that the job market has bottomed out.

But the recovery has begun slowly. Though the unemployment rate unexpectedly declined from 14.7 percent it is still a high 13.3 percent. And even with the May hiring gain, just one in nine jobs that were lost in March and April have returned. Nearly 21 million people are officially classified as unemployed.

Even those figures don’t capture the full scope of the damage to the job market. Including people the government said had been erroneously categorized as employed in the May jobs report and those who lost jobs but didn’t look for new ones, 32.5 million people are out of work, economists estimate. That would have raised May’s unemployment rate to 19.7 percent.

Thursday’s report also shows that an additional 706,000 people applied for jobless benefits last week under a new program for self-employed and gig workers that made them eligible for aid for the first time. These figures aren’t adjusted for seasonal variations, so the government doesn’t include them in the official count.

Source: AP

https://www.thestandard.com.hk/breaking ... ims-at-47m

[behappyalways]

U.S. manufacturers struggle to keep workers in face of weak demand
https://www.reuters.com/article/us-usa- ... SKBN23J1IT

[behappyalways]

2020.06.14【文茜世界財經周報】只剩經濟牌　川普挽選情　確定再發振興支票
https://m.youtube.com/watch?v=5Sp40cLMQBs

[behappyalways]

Eviction moratoriums coming to an end
https://m.youtube.com/watch?v=3SFdjzPpdh0

[behappyalways]

Coronavirus: Why US is expecting an 'avalanche' of evictions
https://www.bbc.com/news/world-us-canada-53088352

Eviction moratoriums coming to an end
https://m.youtube.com/watch?v=3SFdjzPpdh0

[behappyalways]

2020.06.21【文茜世界財經周報】全美解封已月餘　經濟究竟何時能回得去
https://www.youtube.com/watch?v=TOpGZhT8-Fg