U.S. Jobless Claims Unexpectedly Increase to More Than 1 Million
“Applications for U.S. unemployment benefits unexpectedly increased last week, a stumble for the labor market in its long road to recovery. Initial jobless claims in regular state programs rose by 135,000 to more than 1.1 million in the week ended Aug. 15, Labor Department data showed Thursday. Continuing claims — the total number of Americans claiming ongoing unemployment assistance in those programs — decreased to 14.8 million in the week ended Aug. 8, the lowest since early April.”
It’s Crunch Time for European Workers After Summer Job Cuts
“European workers may be about to get another batch of bad news after a summer of job cuts and with the economic recovery threatened by fresh virus outbreaks and localized lockdowns. Even as some governments consider extensions to job-protecting furlough programs, the back-to-school period as the continent returns from summer vacation is a crucial time for firms to assess demand, budgets and headcount for the rest of the year and into 2021.”
China Expects Trade Deal Talks with U.S. to Take Place Soon
“China confirmed plans to talk with U.S. officials soon to review progress on their preliminary trade deal, a rare engagement between the world’s largest economies as relations deteriorate on other issues ranging from human rights in Hong Kong to technological dominance. The two nations will be in touch in the near term, Commerce Ministry spokesman Gao Feng said in Beijing Thursday when asked if the meeting will happen. Gao didn’t announce an exact date or elaborate further.”
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