United States: U.S. Jobless Claims Doubled to Record 6.65 Million Last Week “The number of Americans applying for unemployment benefits more than doubled to a second straight record, highlighting the devastating economic impact of the coronavirus as shutdowns widened across the country. A total of 6.65 million people filed jobless claims in the week ended
April 01, 2020 The euro area (EA19) seasonally-adjusted unemployment rate was 7.3% in February 2020 relative to 7.4% in January 2020 and down from 7.8% in February 2019, according to Eurostat, the statistical office of the European Union. Notably, since March 2008, this is the lowest rate recorded in the euro area. Additionally, “The EU
United States: Trump Warns of Pain Ahead While ‘Shocking’ Reality Sets In “Faced with staggering projections that as many as 240,000 Americans will die from coronavirus, President Donald Trump largely abandoned his optimistic tone on Tuesday, telling the U.S. to brace for one of its toughest stretches as a nation. His critics had said for
March 31, 2020 The Bureau of Economic Analysis noted that the U.S. net international investment position totaled $10.99 trillion at the end of the fourth quarter of 2019. Moreover, assets totaled $29.32 trillion whilst liabilities amounted to $40.31 trillion. The net investment position amounted to $10.98 trillion at the end of the third quarter. United States assets had a
United States: Economists Are Losing Hope in a “V-Shaped” Post-Virus Recovery “The coronavirus is guaranteed to throw the world into recession, but economists are becoming less convinced about the potential for a strong snapback in growth. The base case for forecasters is that a recovery, perhaps even a vigorous one, gets under way in the
March 30, 2020 In February, personal income rose by $106.8 billion (0.6%) in the U.S, according to estimates released by the Bureau of Economic Analysis. Disposable personal income (DPI) climbed $88.7 billion (0.5%) and personal consumption expenditures (PCE) grew $27.7 billion (0.2%). Real DPI rose 0.4% in February and Real PCE climbed 0.1%. The PCE
March 30, 2020 The unprecedented spread of COVID-19 has created a global health crisis. Each day brings new developments as countries around the world seek to "flatten the curve" and achieve "social distance" which is significantly, sharply and suddenly curtailing economic activity around the world. The Jamaican government, led by the Most Hon. Prime
United States: Wall Street Is Quietly Telling Companies Not to Draw Their Loans “The biggest U.S. banks have been quietly discouraging some of America’s safest borrowers from tapping existing credit lines amid record corporate drawdowns on lending facilities, according to people familiar with the behind-the-scenes conversations. For Wall Street, it’s not an issue of liquidity
March 27, 2020 Eight states posted lower unemployment rates in February, while one state recorded higher rates for the same month. Unemployment rates remained stable in forty-one states and the District of Columbia based on a report by the Bureau of Labour Statistics (BLS). Last year, there were eleven states with jobless rate decreases, one
United States: U.S. Consumer Spending Held Up in February Before Virus Hit “U.S. consumer spending held up in February, the latest sign that the world’s largest economy remained on stable footing before measures to contain the spreading pandemic began rippling through consumers and businesses. Personal spending, which accounts for about two-thirds of the economy, rose
