White House plans weekly social media posts with President Joe Biden chats to make a strong case for the passage of the stimulus package, according to Bloomberg. The effort aims to communicate directly with Americans affected by the economic fallout of the coronavirus pandemic. Through the White House social media accounts, Biden termed claims that America can keep … [Read more...] about Biden to Take a Personal Initiative in Stimulus Package Drive
Forex News
U.S. Trade Deficit Surged to a 12-Year High of $678.7 Billion Last Year
U.S trade deficit rose by 17.7% to $678.7 billion in 2020, the highest since 2008, according to the Bureau of Economic Analysis press release. The jump in the trade deficit was brought by the COVID-19 pandemic, which disrupted the flow of goods and services. Exports of goods and services fell 15.7% to their lowest level since 2010.Imports of goods and services tumbled 9.5% … [Read more...] about U.S. Trade Deficit Surged to a 12-Year High of $678.7 Billion Last Year
U.S. Nonfarm Payroll Employment. Job Growth Changed at 49,000 Gains
The U.S. added 49,000 jobs in January, less than expected 105,000, according to the Bureau of Labor Statistics press release. The unemployment rate fell by 0.4 percentage points to 6.3% in January, less than expected 6.7%. Private payrolls in January rose by 6,000, more than estimated 163,000.Average hourly earnings rose 0.2% from December, below expected 0.3%Job … [Read more...] about U.S. Nonfarm Payroll Employment. Job Growth Changed at 49,000 Gains
U.S Jobless Claims Fell by 33,000 for the Final Week of January
U.S. initial jobless claims for the week ending January 30 was 779,000, down 33,000 from the previous week, according to the Department of Labor press release. Thursday’s jobless claims reflect a weakened job market as it is still a historically high total due to the impacts of the pandemic. The 4-week moving average jobless claims was 848,250, down 1,250 from the … [Read more...] about U.S Jobless Claims Fell by 33,000 for the Final Week of January
U.S Economic Activity in the Service Sector Rose for the Eighth Consecutive Month
U.S Services PMI hit 58.7% in January, up one percentage point from December's level of 57.7%, according to the Institute of Supply Management press release. The reading is the highest since February 2019 and the eighth straight month of growth in the services sector. The overall Business Activity Index fell by 0.6 percentage point from 60.5% in December to 59.9% in … [Read more...] about U.S Economic Activity in the Service Sector Rose for the Eighth Consecutive Month
