WASHINGTON—The number of Americans filing new applications for unemployment benefits fell slightly last week as the labor market continued to tread water, but a drop in new COVID-19 cases has raised cautious optimism that momentum could pick up by the spring. The weekly unemployment claims report from the Labor Department on Feb. 11, the most…
US January Budget Deficit Hits Record $163 Billion as New Aid Checks Sent Out
WASHINGTON—The U.S. government posted a budget deficit of $163 billion in January, a record high for the month and a $130 billion jump from the deficit in the same month last year, as a new round of direct payments to individuals were distributed, the Treasury said on Wednesday. Receipts for January rose 3 percent from…
The Worst Budget in American History
Commentary Is there even one half-sane Democrat that will stand up and denounce the fiscal atrocity of President Joe Biden’s $1.9 trillion spending bill? Is there not one single patriotic Democrat in the entire country who will speak out? The silence is deafening. The House Democrats are now rallying behind a budget resolution that calls…
US Service Sector Activity Near 2-Year High in January: ISM Survey
WASHINGTON—U.S. services industry activity raced to its highest level in nearly two years in January, with growth in new orders and employment accelerating, raising cautious optimism that the beleaguered sector was turning the corner. The Institute for Supply Management (ISM) said on Feb. 3 its non-manufacturing activity index increased to a reading of 58.7 last…
US Unemployment Claims Fall to 779,000 but Job Cuts Grind On
WASHINGTON—The number of Americans seeking unemployment benefits declined to 779,000 last week, a still-historically high total that shows that a sizable number of people keep losing jobs to the viral pandemic. Last week’s total dropped from 812,000 the previous week, the Labor Department said Thursday, and is the lowest in two months. Still, before the virus erupted…
US Unemployment Claims Fall to 779,000 But Job Cuts Still Sizable
WASHINGTON—The number of Americans seeking unemployment benefits declined to 779,000 last week, a still-historically high total that shows that a sizable number of people keep losing jobs to the viral pandemic. Last week’s total dropped from 812,000 the previous week, the Labor Department said Feb. 4, and is the lowest in two months. Still, before the virus…
US Consumer Spending Slumps Further; Inflation Creeping Higher
WASHINGTON—U.S. consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans. The report from the Commerce Department on Jan. 29 also showed inflation steadily rising in December. Expectations that inflation would perk up…
US Consumer Spending Decreases Further; Inflation Creeping Up
WASHINGTON—U.S. consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans. The report from the Commerce Department on Friday also showed inflation steadily rising last month. Expectations that inflation would perk up this…
US Home Contract Signings Set Record High for December
SILVER SPRING, Md.—The number of Americans who signed contracts to buy homes declined slightly for the fourth straight month, but it was still a record high for December. The National Association of Realtors’ index of pending home sales dipped 0.3 percent to 125.5 in December, an all-time high, according to the Jan. 29 report. An…
US Contract Signings to Buy Homes Hits Record for December
SILVER SPRING, Md.—The number of Americans who signed contracts to buy homes declined slightly for the fourth straight month, but it was still a record high for December. The National Association of Realtors’ index of pending home sales dipped 0.3 percent to 125.5 in December, an all-time high, according to the Friday report. An index…
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