Hiring in the American economy declined by 140,000 in December as firms felt the effects of the six-month delay by the political sector in providing fiscal aid to the public, and the subsequent pulling back in economic activity. This data, released by the Labor Department on Friday, will tend to ... READ MORE >
coronavirus
5 things to know this week in life sciences: Week of Jan. 4
Each year, pharma companies make updates to their price lists in January. This reliably generates headlines and, occasionally, congressional hearings. In this week’s industry roundup, we take a look at the recent price increases and how they compare to last year’s. We also look at the ongoing battle over ... READ MORE >
CHART OF THE DAY: 10-year Treasury yield pushes above 1%
It’s been an eventful first few days of trading in the new year. Most notably, the yield on 10-year Treasuries moved above 1% for the first time since the economic collapse in March, and following the runoff elections in Georgia on Tuesday that gave control of the Senate to Democrats. Yields broke past ... READ MORE >
Initial jobless claims: Still elevated as another benefits cliff looms
First-time jobless claims held steady at 787,000 for the week ending Jan. 2, while the number of those claiming unemployment benefits stands at 19.1 million, the Labor Department reported Thursday. First-time claims for federal Pandemic Unemployment Assistance rest at 161,400. Continuing claims fell to ... READ MORE >
CHART OF THE DAY: Residential construction spending remains robust
Residential spending has been rising since February of 2019, increasing by nearly 18% on a year-over-year basis in November. These strong numbers helped to lift construction spending by 0.9% overall in November, according to data released this week by the Commerce Department. The demand for housing was ... READ MORE >
CHART OF THE DAY: U.S. manufacturing activity finishes the year strong
U.S. manufacturing activity continued to expand in December, according to the Institute for Supply Management's Manufacturing Purchasing Managers’ Index released on Tuesday. The index registered 60.7 in December, its eighth straight month of expansion, and 3.2 points above the 57.5 reading in November. ... READ MORE >
December payroll preview: State and local government employment to continue contracting
We expect the December U.S. employment report to reflect the strains across the real economy associated with the pandemic, which intensified during the final month of the year. We now anticipate a decline of 75,000 jobs in total U.S. employment and an increase in the unemployment rate to 6.8% when the ... READ MORE >
RSM US Manufacturing Outlook Index remains positive, but within a range
Optimism in the American manufacturing community is poised to continue in the new year, though with some caution attached. It is clear that the risks around the pandemic are rising and we may observe volatility in manufacturing indices until the bottlenecks around vaccine distribution are solved. The ... READ MORE >
CHART OF THE DAY: U.S. factory growth remains robust
The recovery in U.S. and global manufacturing activity continued through the end of 2020, even as new COVID-19 infections increased across the globe. U.S. manufacturing activity accelerated at its fastest pace in more than six years in December, according to the IHS Markit U.S. Manufacturing Purchasing ... READ MORE >
5 trends from defense technology companies’ Q3 earnings calls
Defense technology businesses spent Q3 2020 shoring up their supply chains in the wake of the COVID-19 pandemic. These businesses simultaneously navigated the start of pandemic recovery, shifting election expectations and a continuing resolution. Top executives in the defense technology space ... READ MORE >