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?
'El Chapo' says he faces 'unprecedented discrimination' in prison
A judge replied to a letter from Joaquín "El Chapo" Guzmán after he claimed he hasn't been able to receive phone calls or visits in a U.S. prison.
Rapper NBA YoungBoy taken into custody while on house arrest in Utah
Local media in Baton Rouge, Louisiana previously reported the rapper's lawyers argued moving him to Utah would keep him out of trouble.
DeSantis tweaks Florida book challenge law, blames liberal activists
A group that fights book bans issued a report Tuesday saying Florida is responsible for 72% of books pulled from schools.