Economy

Economists mostly expect job growth slowed in October, as the pace of rehirings dropped off and layoffs increased. Job growth was expected to total 530,000 in October, and the unemployment rate is expected to fall to 7.7%, according to Dow Jones. That number includes about a 150,000 decline in public sector jobs from the end

A worker wearing a protective mask and gloves assembles face shields at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts on Wednesday, April 29, 2020. Adam Glanzman | Bloomberg | Getty Images The U.S. economy, which has shown signs of recovering, could see its prospects turn given the intensifying spread of Covid-19 in the

Employment growth was better than expected in October and the unemployment rate feel sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists

The labor market was stronger than expected in October, showing good momentum ahead of the latest wave of coronavirus cases. The economy added 638,000 nonfarm payrolls and the unemployment rate fell by a full percentage point to 6.9%. The government compiled the data for the report in the middle of October. Stock futures temporarily erased

Volunteers hand out potatoes in Auburn, Washington on May 7, 2020. JASON REDMOND | AFP | Getty Images That’s a big jump from the prior month, when 19% of the unemployed were out of work for at least six months. The number of long-term unemployed swelled by 1.2 million people in a month, to 3.6

Nobel Prize-winning economist Paul Krugman. Panayiotis Tzamaros | ullstein bild via Getty Images The U.S. may need several hundred billion dollars a month in “disaster relief” to keep the economy afloat as a raging coronavirus outbreak continues to suppress prospects for workers and businesses, Nobel prize-winning economist Paul Krugman said on Thursday. “We really are

First-time claims for unemployment insurance continued a modest trend down last week, though the total remains well above what was considered normal prior to the coronavirus pandemic and was a touch higher than Wall Street estimates. The Labor Department reported Thursday that 751,000 U.S. workers filed for benefits, compared with 758,000 the previous week. Economists

U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, U.S., March 3, 2020. Kevin Lamarque | Reuters The Fed’s two-day meeting is expected to end

A worker wearing a protective mask and gloves assembles face shields at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, on Wednesday, April 29, 2020. Adam Glanzman | Bloomberg via Getty Images Private job creation showed a sharp deceleration in October as the U.S. economy struggled against a resurgence in the coronavirus pandemic, according

The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, declining for a second straight week, the Labor Department reported Thursday. Initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24, down 40,000 from the previous week. Economists polled by Dow Jones expected initial jobless claims

A Sale Pending sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on existing homes, fell 2.2% in September compared with August, according to the National Association of

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg via Getty Images The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility. In another pair

Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together. Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1%

A Regal Cinemas movie theater stands at night on 42nd Street in New York, U.S., on Tuesday, Oct. 6, 2020. Amir Hamja | Bloomberg | Getty Images Third quarter GDP is expected to grow at a sharp double digit pace, but the economy is still behind where it was earlier in the year and may

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing on September 23, 2020 in Washington, DC. Stefani Reynolds | Pool | Getty Images Federal Reserve officials continue to push Congress to provide more help to the U.S. economy, and with good reason: The central bank

Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically. Prices beat expectations, rising 5.7% annually in August, up from 4.8% in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City

A Democratic sweep in the coming U.S. elections will likely unleash more fiscal stimulus, but it could also cause the Federal Reserve to hike interest rates earlier than expected, said a Morgan Stanley portfolio manager. The first rate hike by the Fed could be brought forward from around 2024-2025 to 2023-2024 — depending on how

Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) While it appears that the economy has sharply bounced back from the pandemic’s blow, this is actually a “steroid kind of recovery,” JPMorgan Asset Management’s David Kelly told CNBC. “We have seen what looks like a V-shaped recovery,