Applications for U.S. state unemployment benefits surged last week by the most since late March, pointing to persistent labor market pain as coronavirus infections continue to soar and potentially adding to momentum for a larger federal stimulus plan.
The U.S. labor market lost jobs in December for the first time in eight months, yet transportation-related businesses showed solid growth, the Labor Department said Jan. 8.
Applications for U.S. state unemployment benefits fell more than forecast last week, suggesting the labor market remains on the path of gradual improvement — while still far from its pre-pandemic health.
U.S. job openings declined in August for the first time in four months, pointing to a moderation in pace of hiring as the pandemic drags on.
U.S. companies added 749,000 jobs in September, a private report showed, indicating the labor market’s gradual rebound is continuing as demand rises from the depths of the coronavirus pandemic.
U.S. consumer confidence dropped in August to the lowest since 2014 as consumers soured on employment and business conditions, indicating Americans are becoming despondent amid persistently high joblessness.
U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand.
U.S. industrial production in June posted the largest monthly gain since 1959, indicating manufacturing is stirring to life after coronavirus-related shutdowns.