Weekly jobless claims disappoint. What Cramer and others are watching (via TradingNation)
"We are right now beginning to realize that the pandemic has recessionary impact that we hadn't thought about because of course, 70% of the people who are getting that extra $600 — who will now hopefully get $400, probably won't — were making more money than they were at their job. So, there's more spend, but that spend seems to be tapering off. And that's something that we're not ready for and that's what the claims say and that's what the companies are saying.
Ron Temple, managing director at Lazard Asset Management, called for more stimulus on two specific fronts. "What the market's looking for is another reason for the next leg up and if you think about what's been going on on the fiscal side, at the end of July we had pandemic unemployment benefits expire, we had the moratorium on evictions expire, so, effectively, where the federal government had been doing an excellent job, it really has fumbled the ball since the end of July.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
7 states approved to offer extra $300 weekly unemployment benefitsArizona, Colorado, Iowa, Louisiana, Missouri, New Mexico and Utah were the first states to apply and be approved for an extra $300 a week in federal unemployment benefits.
Weiterlesen »
Rise in U.S. weekly jobless claims clouds labor market recoveryThe number of Americans filing a new claim for unemployment benefits rose unexpectedly back above the 1 million mark last week, a setback for a struggling U.S. job market crippled by the coronavirus pandemic.
Weiterlesen »
Waiting for that extra $300 weekly unemployment benefit? For thousands, it may never comeSome workers got an extra $300 in unemployment benefits this week. That aid will start flowing to others in coming days, but thousands of out-of-work Americans won’t ever see the assistance.
Weiterlesen »
Unemployment Claims Spike Above 1 Million Again As Americans Struggle To Find Work1.1 million people filed jobless claims last week, up from 963,000 the week before.
Weiterlesen »
Unemployment Claims Spike Above 1 Million Again As Americans Struggle To Find WorkUnemployment claims spiked above 1 million again as Americans struggle to find work by theothersarahh
Weiterlesen »
Rise in U.S. weekly jobless claims clouds labor market recoveryThe number of Americans filing a new claim for unemployment benefits rose unexpectedly back above the 1 million mark last week, a setback for a struggling U.S. job market crippled by the coronavirus pandemic.
Weiterlesen »