recovery Archives - The Michigan Star

Jobless Claims Increase to 373,000, Above Economists’ Predictions

July 9, 2021July 8, 2021 Michigan Star Staff

The number of Americans filing new unemployment claims increased to 373,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented a slight increase in the number of new jobless claims compared to the week ending June 26, when 371,000 new jobless claims were reported. That number was revised up from the 364,000 jobless claims initially reported last week.

Economists expected Thursday’s jobless claims number to come in around 350,000, The Wall Street Journal reported.

Analysis: President Trump Was Correct About the Rapid Economic Rebound Post-Shutdown as Another 630,000 Americans Come Off Unemployment Benefits

July 14, 2020July 13, 2020 Michigan Star Staff

Another 630,000 Americans came off continuing unemployment claims the week ending June 27, according to the latest unadjusted data from the U.S. Department of Labor, proving President Donald Trump is right about the economy rapidly recovering from the COVID-19 pandemic state-based shutdowns.

Since the week ending May 9, unadjusted continuing unemployment claims have dropped from 22.8 million to 16.8 million the week ending June 27, a massive turnaround of 6 million Americans who temporarily found themselves on unemployment benefits but then rapidly came off of it on a net basis.

Stocks Rally Worldwide on Hopes for Coming Economic Recovery

June 17, 2020June 16, 2020 The Associated Press

Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly.

The S&P 500 climbed 1.9% for its third straight gain, bringing it back within 8% of its record set in February. Gains have built in recent weeks as reports bolster investor expectations that the worst of the downturn may have already passed.

Wall Street’s Rally Zooms Higher After Surprise Gain in Jobs

June 5, 2020November 9, 2020 The Associated Press

Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline.

The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists were expecting them instead to slash another 8 million jobs amid the recession caused by the coronavirus and the shutdowns put in place to stem it.

Mike Lindell’s Addiction Brought Him to the Brink of Nearly Losing Everything, Including His Life

February 12, 2020February 11, 2020 Anthony Gockowski

Before he was a millionaire and CEO of one of America’s most visible companies, Mike Lindell was a crack addict on the verge of losing everything.