Employment growth slows sharply in November amid coronavirus surge
Nonfarm payrolls increased by just 245,000 in November, well below Wall Street estimates as rising coronavirus cases coincided with a considerable slowdown in hiring. Economists surveyed by Dow Jones had been looking for 440,000 and the jobless rate to decrease...
Pandemic-induced options trading craze shows no signs of slowing down
Traders work on the floor of the NYSE in New York. NYSE Options trading is the new sports betting. Talk about unintended consequences. The stay-at-home requirement created by Covid-19 has spawned a huge sub-industry in options trading in tandem with...
Christmas tree sales are telling a holly, jolly economic story
John Williams, left, and his dad Terry, right, both of Salem, carry a large Christmas Tree out of the field together at Tucker Tree Farm in Salem, Oregon, November 29, 2020. Alisha Jucevic | Reuters Tree retailers are having a...
Since Congress can’t agree on a stimulus bill, states and cities are providing relief
Michelle Lujan Grisham, the governor of New Mexico Toya Sarno Jordan | Getty Images News | Getty Images Some states and cities are forging ahead to provide relief to residents financially scarred by the Covid crisis, as negotiations for a...
The pace of job gains likely slowed in November due to the impact of virus shutdowns
Job gains in November are expected to be weaker than in October, reflecting the impact of virus-related shutdowns by states and local governments due to the record spread of Covid-19. Economists expect a consensus of 440,000 nonfarm payrolls were added...
Extending pandemic unemployment benefits into 2021 could save 5.1 million jobs, according to report
In the months since the U.S. labor market shed roughly 22.2 million jobs at the start of the coronavirus recession, some 10 million roles still have not recovered as the virus drags on and a host of stimulus policies intended...
Jobless claims hit pandemic-era low as hiring continues even with rising Covid cases
New jobless-claim filings last week reached their lowest level of the pandemic crisis, providing a sign that hiring is continuing if at a slower pace. First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier...
‘We’re positive that it will be a good end to 2020,’ Ally Invest’s top investment strategist says
There may be more juice left in the fourth quarter. Ally Invest’s Lindsey Bell said she believes the backdrop supports December gains. “We’re positive that it will be a good end to 2020,” the firm’s chief investment strategist told CNBC’s...
Kaplan says he’s not in favor of Fed increasing bond purchases
Dallas Federal Reserve President Robert Kaplan said he wouldn’t be in favor of changing the central bank’s bond-purchasing program even though he sees some rocky times ahead for the U.S. economy. Speaking Wednesday to CNBC, Kaplan said financial conditions are...
Mortgage demand from homebuyers spikes 28%, and the average loan amount sets a record high
A house for sale in Sarasota, Florida Scott Mlyn | CNBC Thanksgiving week isn’t usually a popular time for homebuying, but most economic numbers this year are incomparable, especially in the pandemic-spiked housing market. Mortgage applications to purchase a home...