Almost every state had a decline in initial jobless claims in the last week of May, as a ninth week was added to the trend of decreasing yet still substantial household economic misery. … READ MORE >
Blog
Initial jobless claims: Some good news amid continued carnage
The pace of first-time jobless claims declined for the ninth consecutive week, to 1.83 million, bringing the cumulative total of those who have lost jobs over the past 11 weeks to 42.6 million. … READ MORE >
Preview: May U.S. employment report
We expect the U.S. economy to shed 7.8 million jobs and the unemployment to reach 21.5% when the May U.S. employment estimate is released on Friday. … READ MORE >
What registered investment advisers can expect from the SEC in a changed economy
Even as the coronavirus disrupts many conventions and traditions of the financial services industry, one regulatory ritual has continued, albeit in digital form: the Securities and Exchange Commission’s compliance examinations with registered investment advisers. … READ MORE >
Latest ISM manufacturing data shows signs of stabilization
The Institute for Supply Management index, a closely watched measure of U.S. manufacturing activity, rose in May for the first time since January, hinting that activity is beginning to stabilize following huge market disruptions created by the COVID-19 pandemic. The index improved to 43.1 in May from an 11-year low … … READ MORE >
Tech jobs have not been spared in the pandemic, but growth of remote work helps some
Before COVID-19, unemployment in the technology sector was at a five-decade low and was far lower than the overall U.S. unemployment rate. Though unemployment has risen for some parts of the technology sector as the pandemic has gripped the country, companies are still hiring for other roles. Job postings for … … READ MORE >
California: A test case for reopening the New York metropolitan area
California is now in Stage 2 of its reopening program from the coronavirus lockdown. The crowds at Los Angeles beaches and the rise in newly reported cases in California should give the governors of New York and New Jersey something to consider as pressure mounts to reopen Jones Beach in New York and the Jersey shore. … READ MORE >
Manufacturing sector outlook less dire than last month, but still bleak
The RSM Manufacturing Outlook Index is now 4.2 standard deviations below normal conditions, an assessment of manufacturing conditions that is not as dire as last month, but dire nonetheless. Perhaps last month’s reading of about six standard deviations below normal was an indication from manufacturers that things couldn’t possibly get … … READ MORE >
Bill would loosen restrictions in Paycheck Protection Program, making loan forgiveness easier
In a bipartisan vote, the House of Representatives passed the Paycheck Protection Program Flexibility Act on May 28, loosening some restrictions on borrowers and making it easier to qualify for loan forgiveness. … READ MORE >
April U.S. personal income and spending: Fiscal cliff approaches as income support remains key
With one in four American workers looking for employment or waiting to be recalled to work, there is little doubt that the weak spending environment will partially define the U.S. economic narrative and policy going forward. … READ MORE >