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The United States reported that business layoffs are subsiding. However, millions who lost their jobs due to the novel coronavirus pandemic still resort to unemployment benefits. This indicated that the labor market would take time to recuperate from the virus crisis even as firms resume accepting job applications.
The weekly jobless claims report from the Labor Department will come parallel to last Friday’s data of a surprise 2.5 million increase in nonfarm payrolls in May. This could uplift sentiments that the labor market is faring better and the worst is already over.
The Federal Reserve pledged to provide immense economic support as policymakers foresee a 9.3% unemployment rate by the end of the year. The unemployment rate advanced 13.3% in May, far larger than the 3.5% record monitored in February.
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
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