Retail sales showed unexpected strength, rising by 1.9% over August for the fifth straight monthly gain, the Commerce Department reported on Friday. … READ MORE >
Covid-19
CHART OF THE DAY: Rising optimism among small businesses
The small business optimism index rose 3.8 points to 104 in September, the highest reading since February, according to a report by the National Federation of Independent Business. … READ MORE >
Jobless claims continue to rise to highest level since August
The four-week moving average of first-time claims for unemployment insurance stands at 866,250, which is well above the monthly hiring pace of 661,000 that was posted in September and will likely be well above the top-line hiring number in October. … READ MORE >
Coronavirus update: Regarding immunity and the severity of infection
A central riddle of the novel coronavirus is immunity: Can people become immune to infection? And does herd immunity work? … READ MORE >
CHART OF THE DAY: Glory days for used car salesmen
A confluence of trends linked to the pandemic – including the fleeing of millennials to the suburbs and a rising preference for private transportation – has driven the price of used automobiles up by the quickest monthly gain since 1969, according to data from the Bureau of Labor Statistics. … READ MORE >
CHART OF THE DAY: Plunging private equity deal flow in Canada
The economic distress from the coronavirus pandemic is hitting the Canadian private equity market hard. The number of deals reached in Canada this year through Oct. 6 fell to 194, which at that pace would represent a 60% decline from 2019. … READ MORE >
SBA announces simplified PPP loan forgiveness
Some businesses that accepted financing under the Paycheck Protection Program now have a streamlined path to receiving the promised forgiveness of those loans, under new guidelines released late Thursday. … READ MORE >
CHART OF THE DAY: Business development companies show continued risk
Business development companies are still lagging the market in a sign of persisting concern over the performance of loans to small and midsize businesses. … READ MORE >
Initial jobless claims: If you’re not confused, you’re not paying attention
Pandemic economics has brought about an interesting conundrum: The pace of firings in the economy remains above the monthly hiring data as the unemployment rate falls. Over the past six weeks, first-time claims for unemployment insurance have averaged 867,000. … READ MORE >
CHART OF THE DAY: Vanishing public-sector education jobs
Over the past six months, state and local government employment averaged 720,000 fewer education positions and 390,000 fewer non-education positions than last year. That’s 1.1 million total government job losses. … READ MORE >