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Added on the 06/04/2018 08:45:52 - Copyright : Wochit
Joseph LaVorgna is the chief economist at the National Economic Council, and is an economic adviser to the Trump administration. And according to Business Insider, LaVorgna on Friday said he felt there was no rush to release a second coronavirus stimulus package. LaVorgna said that despite a disappointing Friday jobs report, he doesn't 'believe the recovery at the moment is in jeopardy.' On Friday, the jobs report that said 10.7 million Americans were unemployed in November. Congress is considering a $908 billion stimulus proposal after months of negotiations. It does not include a $1,200 direct payment.
The novel coronavirus pandemic is hitting the American workforce hard, but a new report reveals it's disproportionally affecting women. Business Insider reports the nonprofit newsroom The 19th says four times as many women as men left the workforce in September. According to Business Insider, the report said roughly 865,000 US women reported in September that they were no longer employed, compared to 216,000 men. The retail and hospitality industries are primarily made up of women, have been hit particularly hard by the terrible economic effects of the pandemic. Of the near 900,000 women who left the workforce in September, over 320,000 of them were Latina women. Almost 60,000 were Black women.
Stocks rallied in reaction to the strong jobs report which was a relief after the disappointing May data. Bobbi Rebell reports.
The economy added 287,000 jobs - many more than economists had expected. But weak wage growth could keep the Fed at bay on interest rates. Fred Katayama reports.
The latest ADP private payrolls report came in stronger than expected, an encouraging signal just a couple of days ahead of the monthly employment report. Bobbi Rebell reports.
Manufacturing activity showed scant sign of picking up across Europe in May as demand stayed stubbornly weak. As Grace Pascoe reports its highlighting the need for central banks to continue supporting growth.