The United States could have added over a million jobs in April as more businesses reopened after COVID-19 lockdowns, economists were quoted by CNBC. Non-farm payrolls climbed 916,000 in March. Unemployment benefits have also declined to a pandemic low of 553,000 for the week ending April 24. Morgan Stanley economists expect the job growth at 1.25 million, coming … [Read more...] about The United States Could Have Added Over 1 Million Jobs In April, Economists Say
Forex News
Manufacturing In World’s Second-Biggest Economy Slows
China's manufacturing output grew at a slower pace in April as the economic recovery has started to moderate, according to Bloomberg. Manufacturing purchasing managers' index (PMI) declined to 51.1 in April from March's 51.9. This fell short of economists' forecast of 51.8. A reading above 50 indicates expansion while below that indicates a contraction.The … [Read more...] about Manufacturing In World’s Second-Biggest Economy Slows
U.S. Jobless Claims Continue To Mark Pandemic Low
Unemployment claims in the United States dropped even further to mark another low since the COVID-19 pandemic for the third consecutive week, the Labor Department reported. Initial unemployment claims fell 13,000 to 553,000 for the week ending April 24. The previous week's claims were revised higher by 19,000 to 566,000.The four-week moving average fell by 44,000 to … [Read more...] about U.S. Jobless Claims Continue To Mark Pandemic Low
U.S. GDP Beats Expectations With 6.4% Growth In First Quarter
The United States economic growth beat market expectations after growing by 6.4% in the first three months of the year, the Commerce Department reported. Economists surveyed by Dow Jones expected the gross domestic product at 6.5% for the quarter. The growth was driven by higher personal spending, federal government spending, and state and local government … [Read more...] about U.S. GDP Beats Expectations With 6.4% Growth In First Quarter
What You Need to Know About Fed Chair Powell’s Latest Statements
The U.S. Federal Reserve chose to keep policy rates unchanged in its meeting this week but noted that economic activity is growing, according to CNBC. Chair Jerome Powell said the Fed will wait for inflation to rise to the 2% target before reconsidering the target range of 0 to 0.25%, which remains "appropriate."It will take some time for inflation to move up persistently, … [Read more...] about What You Need to Know About Fed Chair Powell’s Latest Statements
