Overseas Headlines – September 24, 2020

United States:

U.S. Jobless Claims Remain Elevated in Fits-and-Starts Recovery

“Applications for U.S. unemployment benefits were little changed last week, contrasting with estimates for a decline and highlighting an economic recovery that’s coming in fits and starts. Initial jobless claims in regular state programs increased by 4,000 to 870,000 in the week ended Sept. 19, according to Labor Department figures released Thursday. Continuing claims — the total number of Americans claiming ongoing unemployment assistance in those programs — declined 167,000 to 12.6 million in the week ended Sept. 12, which coincides with the reference period for the government’s monthly jobs report.”



Sunak Announces Crisis Plan to Save U.K. Jobs From Virus

“Chancellor of the Exchequer Rishi Sunak set out his plan to rescue millions of jobs and businesses from a winter crisis as the coronavirus pandemic again threatens to derail the U.K. economy. But economists — and the chancellor himself — warned Thursday’s package won’t stop a wave of redundancies when the current more generous support program ends. The measures also continued to exclude a swathe of self-employed people who fell through the cracks of support programs rolled out at the start of the pandemic.”



China Far Outpaces America in Bringing Robots to Factories

“The number of robots operating on Chinese factory floors rose 21% last year as the world’s manufacturing powerhouse extended its lead in automation. China added 140,500 new robots and now holds almost one-third of the global stock, according to a new report published Thursday by World Robotics. The U.S. posted an increase of 33,300 or 7% and ranks fourth behind two other Asian economies, Japan and South Korea.”





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