Another 2.1 million Americans filed unemployment claims last week, according to the latest figures from the Labor Department. It’s the eighth week in a row that jobless claims have declined — a good sign — but since President Trump declared a national emergency on March 13, over 40 million Americans have filed for unemployment benefits. The weekly decline in claims is welcome news, especially as some states begin to slowly reopen. But economists fear a second round of layoffs, as jobs are cut across state and local governments. And on Wednesday, Boeing announced a plan to eliminate 12,000 jobs in addition to “several thousand remaining layoffs” in the next few months. Moving forward, all eyes will be on the monthly jobs report coming out next Friday. White House adviser Kevin Hassett is predicting May’s unemployment rate could be higher than 20%.
Over 40 Million Americans Are Unemployed As COVID-19 Layoffs Continue
The latest data shows a continued decline in weekly claims, but they remain above the 2 million mark.
Gold bars sold by Costco said to bring in $200M a month for company
The members-only warehouse retail giant sells 1-ounce gold bars exclusively online with a limit per member, according to a report last year.
Inflation rate ticks higher, could delay interest rate drop
Average wages are keeping up with inflation, but the failure for price increases to relax could keep interest rates elevated this year.
All eyes on the Fed as interest rate cuts have yet to materialize
In the Fed's eyes, the economy is strong, with the March jobs report showing growth for 39 months straight. But where are those interest rate cuts?
Amsterdam to halt hotel construction in bid to control tourism
Dutch authorities said they want to control a city that is overrun with tourism, in their eyes. The effort would also control annual hotel stays.
Messi the dog is retiring from the TSA after work screening travelers
The 8-year-old Labrador Retriever worked at Reagan National Airport, and was the TSA's canine calendar dog of the month in February.
TikTok to start banning 'problematic' content from its For You feed
Next month, content that would be "problematic if viewed in clusters" won't be eligible to be on the FYF.