President Trump is suspending five classes of visas through the end of the year in an effort to open more than half a million jobs to Americans, according to three senior administration officials. Trump will extend the 60-day halt he took April 22 toward incoming green card recipients, or those who have been approved to […]
Trump to Cut Immigration by 525,000 in Effort to Open Jobs for Unemployed Americans…
Almost 46 Million Americans Have Now Filed for Unemployment Claims Since Lockdowns Began…
Despite the hope-restoring nonfarm payrolls “recovery” and the over-hyped bounce in retail sales (ignoring the lack of ‘V’ in industrial production), in the last week 1.508million more Americans filed for unemployment benefits for the first time (notably worse than the 1.29mm expected). That brings the thirteen-week total to 45.7million, dramatically more than at any period […]
JUMPIN’ JU-JU BONES, IT’S RAINING WINNAMINS!…
Jumpin’ ju-ju bones, it’s raining winnamins ! ~ Analysts and economists were predicting May jobs report would show losses of around 7 to 8 million jobs in May. That’s what everyone suspected, and why they were stunned this morning to find out the U.S. economy actually added, yes ADDED, 2.5 million jobs. The Bureau of […]
Larry Kudlow Discusses April Jobs Report – Numbers Full of “Heartbreak and Hardship”…
National Economic Council Director Larry Kudlow appears on Fox Business to discuss today’s report on jobs from the Bureau of Labor and Statistics. The estimated unemployment rate jumped to 14.7 percent. Kudlow brings up a good point: allow people to take a tax deduction for COVID-19 expenses…
Weekly Unemployment Claims Add Another 4.4 Million – Cumulative Virus Impact 26 Million New Claims…
Best Buy Furloughing 51K Workers…
Best Buy will furlough about 51,000 hourly employees in the U.S. due to the coronavirus pandemic, the retailer announced Wednesday. The electronics retailer saw a drop in sales of approximately 5 percent in the first two months of the current fiscal quarter, below the national average slide of 8.7 percent in March, Reuters reported. Some […]
Weekly Unemployment Claims Increase Another 5.245 Million…
According to the Dept of Labor [pdf HERE] another 5.245 million more Americans filed first-time claims for unemployment insurance last week (April 11), bringing the total to just over 22 million since the Wuhan Virus layoffs began. The good news is initial claims were down 1.37 million from the prior week. The largest increases in […]
Another 6.6 Million People File Unemployment Claims This Week Bringing Total in Two Weeks to 16 Million…
The news is horrific. The Dept. of Labor release today shows another whopping 6.6 million people filed for unemployment compensation last week. That brings the total over the past three weeks to over sixteen million. With 16 million people filing unemployment claims, the actual rate of unemployment is likely well into double digits [13% to […]
“US Labor Market Is in Free-Fall” – 10 Million Americans Have Filed for Unemployment in Past 2 Weeks…
After last week’s unprecedented 3.3 million surge in initial jobless claims, this week’s is even more unprecedented-er, adding a stunning 6.648 million (just 100k away from our estimate of 6.5million) for a two-week sum of 10 million new Americans claiming unemployment benefits. As @GreekFire noted, “We’ve lost 46 jobs for every confirmed case of COVID-19 […]
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