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The U.S. economy likely boosted employment at record levels in June as more bars and restaurants resumed operations. Though this would indicate that the virus-driven recession was probably over, an upsurge in new coronavirus cases threatens any economic pick-up.
Despite recording two consecutive months of gains, the country’s employment would still be about 16.6 million jobs below its pre-virus level. The unemployment rate is expected to decline by 12.3%, placing below its 13.3% record in May.
The Labor Department’s closely monitored employment figures would add to a pile of figures showing a sharp recuperation in economic activity.
The economic rebound was acknowledged by Federal Reserve Chair Jerome Powell, saying that the economy had “entered a new phase and had done so sooner than expected.” However, he warned that the outlook remains tentative as it would rely on “our success in containing the virus.”
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales ...
KYC Policy