Unemployment claims rise for the second week in a row
Unemployment claims rise for the second week in a row
US sees back-to-back rise in jobless claims as COVID-19 surges
27 November, 2020, 19:22
New claims for unemployment benefits jumped last week for the second week in a row, signaling ongoing weakness in the job market as coronavirus infections continue to soar. The savings rate fell for a sixth month.
"With infections continuing to rise at an elevated pace and curbs on business operations widening, layoffs are likely to pick up over coming weeks", said Rubeela Farooqi, chief USA economist at High Frequency Economics. Some economists predict a contraction in gross domestic product the first three months of 2021. After the latest uptick in claims reported on Wednesday, Bloomberg reports this was the "first back-to-back increase since July".
The job market faces additional hurdles as states and cities restrict business activity and hospitalizations spike.
"There is a two-tier recovery from the pandemic recession where the top of society continues to spend as normal, while the bottom-half of the country sits in long lines at food banks with the opportunities for employment few and far between", said Chris Rupkey, chief economist at MUFG in NY. The U.S. total of new unemployment claims filed last week hit 778,000. But uncontrolled spread of the coronavirus across the U.S.is now rolling back that progress.
USA stocks edged lower along with 10-year Treasury yields, while the dollar fluctuated.
The data also said more than 466,000 people moved from the time-limited regular unemployment benefits as of the week ended November 7 to a special program passed during the pandemic that provides aid to the long-term unemployed, which will also expire at year's end.
Both those programs expire on December 26.
USA durable goods orders increased at a faster-than-expected clip in October, helped by demand for computers and metals, underscoring a manufacturing sector that continues to support the economy. US Treasury prices rose.
The US trade deficit - which US president Donald Trump had vowed to slash during his four years in office - widened to $80.3bn in October, from $79.4bn in September, roughly in line with expectations.
On Monday, a cruise missile fired by Houthi rebels struck an oil facility in Saudi Arabia's Red Sea city of Jeddah. It said the Agrari had cargo from Rotterdam, Netherlands, that it had discharged at the Shuqaiq Steam Power Plant.
I've never got a long run even though I've been part of the India side for a few years. "Nobody can fill MS Dhoni's place". With the batsman set to miss the ODI and T20I series, KL Rahul has been named vice-captain for the white-ball formats.
The team management has reportedly said that the two players should be sent over to Australia only if they are fully fit. Both the players are now at the National Cricket Academy (NCA) in Bengaluru for their respective rehab programmes.
Other Korean media said authorities believed the defector likely scaled an iron pole on the fence then jumped down the iron side. His body was reportedly burned by North Korean officials, prompting a rare acknowledgement by North Korean leader Kim Jong Un.
In the Harry Potter universe, Grindelwald is an immensely powerful, evil wizard, who is regarded as second only to Voldemort. This verdict resulted in him being requested by Warner Bros.to step down from his Gellert Grindelwald role.
IAEA inspectors now monitor Iranian nuclear sites as part of Iran's now-unraveling nuclear deal with world powers. Those wounded, including Fakhrizadeh's bodyguards, were later taken to a local hospital, the agency said.
Legal analyst Florina Altshiler says the harm of the restriction was the loss of first amendment freedom of religion. The latest decision reflects Justice Amy Coney Barrett's impact on a now conservative-leaning Supreme Court .
YouTube's three-strike policy provides some leeway for users to screw up before their account is terminated. The conservative cable network OAN was founded in 2013 and has 1.22 million YouTube subscribers.
Shapeero claims, "I was using the word "poor" in the sense of deserving sympathy, as opposed to any economic judgment. During it, an unmuted director makes reference to tiny apartments and "these poor people , ' referring to actors".
The approvals he is referencing are Health Canada approvals, which will be required before vaccine doses are doled out. Earlier this year, it said the facility would be able to produce 250,000 vaccine doses per month as of now.
Samsung Galaxy A32 5G design unveiled via leak of cases
Starting with the Samsung Galaxy A12 , the phone sports a 6.5-inch HD+ TFT display and carries the MediaTek Helio P35 SoC. The smartphone is powered by an octa-core MediaTek Helio P35 processor paired with 3GB/4GB/6GB of RAM.
Indian farmers clash with police over farm reforms
Thousands of farmers from Punjab and Haryana are headed to Delhi as part of their protest march against Centre's farm laws . While the border has not been sealed but all vehicles entering the national capital are being checked by the police.
Utah to play at Washington on Saturday, November 28
So yes, if we were not in the Pac-12 championship game, definitely I think that last game there should be the Apple Cup. Utah will travel to Seattle for a 7:30 p.m. game Saturday at Husky Stadium, the Pac-12 confirmed Tuesday night.
Jennings Will Be Interim 'Jeopardy!' Host
Jeopardy! GOAT Ken Jennings is then slated to take over as the first of several guest hosts, beginning Monday, Jan. 11. During the weeks of December 21 and December 28, the show will honor Trebek by rebroadcasting 10 of his best episodes.
Xiaomi celebrates 19% profit growth
Xiaomi's Redmi, notably, accounted for three of the world's top 10 best-selling smartphones in the third quarter of 2020. Revenues from outside China also grew to CNY 39.8 billion ($6.03 billion) which is up by 52.1% compared to past year .