An estimated 3.4 million workers filed for unemployment last week. A greater share of Americans filed for unemployment insurance in the week ending March 21 than in any prior week in American history, according to our analysis of news reports. Many states reported initial claims growth of over 1,000%. Our model predicts that 3.4 million Americans filed new claims for unemployment insurance this past week, although we […]
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New Delhi (Sputnik): The novel coronavirus pandemic has affected 199 countries, infecting some of the world’s most famous personalities including the UK’s Prince Charles, British Prime Minister Boris Johnson, Hollywood celebrities like Tom Hanks, and even Sophie Grégoire Trudeau – the wife of Canadian Prime Minister Justin Trudeau. On Friday evening, a UK-based news channel, Arise News, aired a ticker claiming that Pakistani Prime Minister Imran […]
Chris Cuomo laid out a damning indictment of President Donald Trump’s “two defining flaws” and argued that these character failings are compromising the federal government’s coronavirus response and “literally making us sick.” At the end of a week that saw the CNN host use his “Closing Argument” segments to forcefully call out the massive, cognitive dissonance between Trump and Dr. Anthony Fauci as well as condemn […]
Authored by Jeffrey Snider via Alhambra Investments, You’ve no doubt heard about the jobless claims number. At an incomprehensible 3.28 million Americans filing for unemployment for the first time, this level far exceeded the wildest expectations as the economic costs of the shutdown continue to come in far more like the worst case. And as bad as 3mm is, the real hidden number is likely much higher. […]
One would think that on the day the US reported 3.3 million (!) initial jobless claims, more than 5 times the weekly peak hit during the financial crisis, and a 30-sigma event… weekly jobless claims, a 30σ event pic.twitter.com/LEO7s5TXsH — 📈 𝙻𝚎𝚗 𝙺𝚒𝚎𝚏𝚎𝚛 📊 (@lenkiefer) March 26, 2020 … one which presages not a recession but an economic depression, stocks would be lower. One would be […]
Business 20:00 GMT 26.03.2020(updated 20:15 GMT 26.03.2020) Get short URL US stocks made high jumps Thursday as the Dow Jones Industrial Average index moved over 1,300 points into the green despite news that some 3.28 million Americans filed unemployment claims the week prior. Marking a three-day streak, the Dow had gained 1,351 points at the closing bell, while the S&P 500 jumped 154.51 points, and the […]
The Head of the National Delegation of the Sanaa-based government has made a statement on the fifth anniversary of the Saudi-led coalition’s war on Yemen. Mohamed Abdulsalam declared the intervention to be a failure with the coalition and its mercenaries torn apart. The war’s anniversary has been named the “National Day of Steadfastness” by the Houthi authorities. “In those early days of the aggression, the enemy […]
U.S. Secretary of the Treasury Steven Mnuchin said that record unemployment claims were “not relevant” during an interview with Jim Cramer and David Faber on CNBC on Thursday. “We knew the jobless claims was not going to be a good one. I am curious what your thoughts were when you saw that 3.283 million number this morning?” asked Faber. “To be honest with you, I just think these […]
Federal Reserve Chairman Jerome Powell was on NBC’s Today show on Thursday morning, explaining how the COVID-19 pandemic has thrown the US economy into an unprecedented situation. Powell said the Fed still has room for monetary policy maneuverability, indicating “there can be a good rebound on the other side of this.” “All over the world investors have pulled back to less risky things, but what that’s […]
Key American stock indexes opened higher on Thursday despite fresh jobs data revealed worse than expected number of unemployment claims that surged to over three million. The Dow Jones Industrial Average was up 500 points, or over two percent, during early trading. Both the S&P 500 and the Nasdaq Composite jumped more than one percent higher. DETAILS TO FOLLOW Source
The US Labor Department reported on Friday a record number of jobless claims which surged to 3.28 million. The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982. The surge in unemployment comes amid a global economic slowdown caused by the coronavirus pandemic, as businesses across the US are on lockdown in an effort to […]
The UK government is facing allegations they are manipulating coronavirus death numbers, after revealing they are changing the way the figures are released, claiming family consent is now required. On Wednesday night, the Department for Health and Social Care published the latest Covid-19 figures showing an increase of 43 deaths – less than half the fatalities from the previous day (87). A positive sign that the […]
The number of Americans filing for unemployment benefits is set to climb to historic highs after claims in Canada crushed the previous weekly record as Covid-19 brings businesses to a standstill. New unemployment data is expected to reflect how hard the US economy has been hit by the Covid-19 outbreak. The minimum number of initial claims amounts to 250,000, according to a Reuters poll, while economists […]
President Donald Trump lashed out at a reporter Wednesday when pressed on whether his hope to have the country “opened up” by Easter amid the coronavirus pandemic has more to do with politics than public health. “The media would like to see me do poorly in the election,” Trump said after being asked at a White House briefing to explain the basis for his plan to […]
Last week’s initial claims print, which surged to 281K from a recent baseline of about 220K, while bad was nowhere near the apocalyptic prints some strategists had predicted in light of the massive closures of restaurants, retailers, lodgings, and virtually all other service establishments which have shuttered for the duration of the coronavirus pandemic. Indeed, many now think that last week’s print was “low” only because […]
Well, here’s a plot twist: Years after The Office sang its swan song on NBC in 2013, multiple members of the show’s crew say that Steve Carell, who left the show in 2011, had not wanted to leave. The actor, they say, was willing to sign on for a couple more years—but Peacock execs never asked him back. Rolling Stone writer Andy Greene’s book The Office: […]
The terrorist group Daesh has claimed responsibility for an attack in northern Mozambique close to the site of gas projects worth $60 billion. On Monday, militants attacked the town of Mocimboa da Praia having occupied some locations, including an army barracks, before being expelled by security forces yesterday. Using its news agency, Amaq, Daesh took credit for the attack in which up to a dozen soldiers […]
Human Rights Watch (HRW) published a report today highlighting abuses by Saudi Arabia and the forces it supports in the ongoing conflict in Yemen, specifically in the eastern province of Al-Mahrah, which shares a border with Oman. The report, released a day before the fifth-anniversary of the Saudi-led military intervention in Yemen, traces the serious abuses since June last year, including arbitrary arrests, torture, enforced disappearances […]
UK 16:02 GMT 24.03.2020Get short URL The latest annual conclusions from the European Committee of Social Rights (ECSR) assess compliance with the European Social Charter in respect of its provisions relating to children, families and migrants, finding almost every member-state demonstrating failings. The UK has been found in breach of at least six areas of the Council of Europe standards for social rights, according to its […]
A professor focusing on healthcare systems has warned that up to 600,000 people could die in Turkey from the coronavirus, due to a lack of respirators and intensive care units in the country. Onur Baser claimed in an interview with Deutsche Welle on Monday that the data suggests at least 30 million Turks could be infected with the virus. “This means between 150,000 and 600,000 deaths,” […]
Increase In Unemployment Insurance Claims Previews The Coming Recession By Heidi Shierholz, Economic Policy Institute. March 22, 2020 Increase In Unemployment Insurance Claims Previews The Coming Recession2020-03-222020-03-22https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/03/2174602-rtx91rx.jpg200px200px Above photo: By Shannon Stapleton, Reuters. Large fiscal stimulus is needed. Initial unemployment insurance (UI) claims for the week ending last Saturday, March 14, showed an increase in initial UI claims of 70,000 from the prior week—from 211,000 to 281,000. […]
Kyle Bass, founder of Hayman Capital Management, took to CNBC yesterday for an interview about the investing landscape as a result of the coronavirus outbreak and the subsequent sharp sell off in markets. Bass talked about value investing, real estate, global banks and why he refuses to call the virus “Covid-19”. Bass said he was really impressed by legislators working together and getting the spending bill through […]
In the lead up to this morning’s must-watch initial jobless claims data, searches for unemployment-related services have exploded as national lockdowns have led to mass layoffs across both the services and manufacturing sectors. And while analysts expected a modest 220k jump, the print came at 281,000 new jobless claims in the last week… However, worse is guaranteed to be coming with claims will start moving […]
During Wednesday’s broadcast of The View, conservative co-host Meghan McCain applauded President Donald Trump for insisting on calling COVID-19 the “Chinese virus,” saying “P.C.” liberals will get him “re-elected” if they keep harping on it. His use of the racial term is “effective,” she said. Long-time host Whoopi Goldberg kicked off the program by noting that she was broadcasting from her home, noting that while her […]