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Fed's Powell: U.S. leading global recovery, could help lift laggards like Europe

Fed's Powell: U.S. leading global recovery, could help lift laggards like Europe

By (Reuters) - The U.S. economy appears set to leave other developed markets in the dust this year with the largest annual growth spurt in decades, new Federal Reserve forecasts indicate, but that divergence is not worrying to the central bank’s top official.If anything, Fed Chair Jerome Powell sees a greater likelihood the strong U.S. rebound from the coronavirus pandemic will help jump-start those still struggling to find their footing, such as Europe, rather than those weak showings overseas impeding the domestic recovery.“U.S. demand, very strong U.S. demand, as the economy improves, is...

Mar 17
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U.S. weekly jobless claims fall for second straight week

U.S. weekly jobless claims fall for second straight week

For Subscribers Getting audio file ... Audio for this article is not available at this time. This translation has been automatically generated and has not been verified for accuracy. The number of Americans filing first-time claims for unemployment benefits unexpectedly fell for a second straight week last week but remain elevated more than nine months into the health and economic crisis triggered by the coronavirus pandemic, signaling a long recovery for the U.S. job market. Initial claims for state unemployment benefits slid to a seasonally adjusted 787,000 for the week ended Dec. 26,...

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Dec 31
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Five worrying takeaways from Friday's U.S. jobs report

Five worrying takeaways from Friday's U.S. jobs report

By (Reuters) - Friday’s big monthly U.S. payrolls report was a big disappointment, with roughly half the number of jobs created in November as were forecast by economists in a Reuters poll.But the troublesome signs for the labor market were hardly limited to the underwhelming headline number, which showed the weakest job growth since the recovery began from the swoon induced by the COVID-19 outbreak earlier this year.Here are five worrying factors in the report:The report is fueled by two surveys - one of U.S. businesses and one of American households. The so-called “establishment” data on...

December 4, 2020
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