Total employment increased by an encouraging 4.8 million workers in June as the U.S. economy continues what will be a multiyear period of recovery in the American labor market. But this is not the time to pull back aid to those out of work. … READ MORE >
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The Paycheck Protection Program still has legs after Congress approves extension
The program, which was scheduled to stop accepting new applications on Tuesday even though it had more than $134 billion left to distribute as of June 27, could now be extended through Aug. 8, after the Senate and the House approved the measure. … READ MORE >
ISM manufacturing gauge returns to expansion with orders and production improving
The Institute for Supply Management’s monthly index, a closely watched measure of U.S. manufacturing activity, rose 9.5 percentage points in June to 52.6 from the May reading of 43.1, its largest jump in 40 years. Readings above 50 indicate expansion in manufacturing activity. More factories reported growth in orders and … … READ MORE >
Once derided, special purpose acquisition companies go mainstream amid turbulent markets
For an increasing number of firms, the special purpose acquisition company has become a favored way to go public. SPACs are on pace for a record year of fundraising and have helped to sustain the initial public offering market even during the COVID-19 pandemic. … READ MORE >
How hospitals can prepare for new price transparency rules
A recent court ruling has given the Trump administration a major victory in its push for transparency in health care pricing, and has left many health care providers scrambling to meet new requirements. … READ MORE >
The worst may be over for the manufacturing sector, but industry remains cautious
The RSM Manufacturing Outlook Index is reporting a remarkable rebound of sentiment in the U.S. manufacturing industry. But while the worst might be behind us, the index remains slightly negative at nearly 0.3 standard deviations below normal conditions, which suggests that a national recovery has yet to materialize. Moreover, damage … … READ MORE >
U.S. jobs report: Will June data already be out of date by the time it’s published?
We expect an increase of 3.1 million in total employment, led by workers who have been called back to their jobs, and a decrease to 12.2% in the unemployment rate when the jobs data for June is released on Thursday. … READ MORE >
Houston we have a problem: A rising curve of coronavirus infections
Notions of an easing pandemic ought to be gently dismissed as the pace of newly reported coronavirus cases appears ready to breach the April peak amid the accelerating spread of the virus around the country. … READ MORE >
May U.S. personal income and spending: Impaired households in view
Income dynamics in May tend to suggest that policymakers need to act sooner rather than later to support struggling American workers to avoid a quickly approaching fiscal cliff on July 31. … READ MORE >
Nine states report significant increases in jobless claims
Nine states reported significant increases in first-time claims for unemployment benefits in the week ending June 20 — a sobering reminder of the ongoing economic toll of the coronavirus. … READ MORE >