The number of Americans applying for unemployment benefits dropped last week to the lowest level since November 1969, a sign that the US job market is continuing to recover from the COVID-19 pandemic.
In the week ending Nov. 20, filings for initial unemployment benefits fell 71,000 to 199,000, according to data released Wednesday by the Labor Department. https://www.dol.gov/ui/data.pdf
The four-week average of claims declined by 21,000 to just over 252,000 &...
Value stocks jumped to the fore in the stock market during the first two months of this year as the Russell 1000 Value ETF had outdistanced the Russell 1000 Growth ETF. Numerous observers, along with several brokerages, jumped on the value bandwagon and argued that value stocks would enjoy a long run after substantially underperforming growth stocks over the past 10 years. During 2010 to 2020, the Russell Growth ETF handily beat the Russell Value ETF with a cumulative return of 380%, compared to 166%.
In September, the US economy added 194,000 jobs, far below consensus analyst expectations of 500,000 jobs. The unemployment rate moved lower to 4.8% from 5.2% in August. Ironically, there are plenty of jobs available for workers, but companies across all sectors report challenging conditions for attracting workers.
Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc (QSR), to miss estimates for quarterly revenue on Monday.
U.S.-listed shares shed 4.4% as same-store sales at its Burger King, Tim Hortons and Popeyes chains came in below expectations in the third quarter.
The number of Americans filing new claims for unemployment benefits dropped to a 19-month low last week, the US Labor Department reported Thursday.
First-time filings for unemployment benefits totaled 290,000 for the week ending Oct. 16, down 6,000 from the previous week. It marks the second week in a row that claims fell below 300,000.
Amazon.com Inc (Nasdaq: AMZN) is giving its tech and corporate employees more flexibility to work remotely even after the company begins to reopen its offices early next year.
On Monday, Amazon’s chief executive officer Andy Jassy said the company will leave it up to each individual team’s director to determine how often workers must come into the office. This marks a change from the company’s previous expectation that most employees would be back at their desks three days per week when offices fully reopen in January 2022.
New orders for U.S.-made goods accelerated in August, pointing to sustained strength in manufacturing even as economic growth appeared to have slowed in the third quarter because of shortages of raw materials and labor.
The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% in July instead of gaining 0.4% as previously reported. Economists polled by Reuters had forecast factory orders gaining 1.0%.
CVS Health Corporation (NYSE: CVS) plans to fill as many as 25,000 clinical and retail jobs nationwide ahead of the flu season and as the US prepares to roll out COVID-19 booster shots.
On Monday, the largest pharmacy chain by number of stores said that most of the openings are for temporary, full-time and part-time licensed pharmacists, trained pharmacy technicians, nurses and retail workers.
Americans opened their wallets and spent last month, giving retail sales an unexpected rebound after plunging the month before, the US Commerce Department reported Thursday.
The continued surge in COVID-19 cases nationwide, however, has changed where Americans are spending their money.
The number of Americans filing new claims for jobless benefits fell last week to the lowest level in nearly 18 months, offering more evidence that job growth was being hindered by labor shortages rather than cooling demand for workers.
Initial claims for state unemployment benefits dropped 35,000 to a seasonally adjusted 310,000 for the week ended Sept. 4, the Labor Department said on Thursday.
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