Lucia Mutikani
Lucia Mutikani
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U.S. weekly jobless claims hit 13-month low; home sales tumble

U.S. weekly jobless claims hit 13-month low; home sales tumble

Welcome to the Reuters.com BETA. Read our Editor's note on how we're helping professionals make smart decisions.The number of Americans filing new claims for unemployment benefits fell to a 13-month low last week, suggesting layoffs were subsiding and strengthening expectations for another month of blockbuster job growth in April as a re-opening economy unleashes pent-up demand.While the labor market recovery is gaining speed, red flags are emerging in the housing market, the economy's star performer during the COVID-19 pandemic. Sales of previously-owned homes tumbled to a seven-month low...

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Lucia Mutikani
Apr 22
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Vaccines, fiscal stimulus boost U.S. employment in March

Vaccines, fiscal stimulus boost U.S. employment in March

By WASHINGTON (Reuters) -The U.S. economy created the most jobs in seven months in March as more Americans got vaccinated and the government doled out additional pandemic relief money, marking the start of what could be the strongest economic performance this year in decades.The Labor Department’s closely watched employment report on Friday suggested the jobs market has finally turned the corner after hitting a ditch in December. All industries added jobs last month and more people rejoined the labor force. A measure of the economy’s ability to create employment also improved.But the road...

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Lucia Mutikani
Apr 2
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Share of U.S. workers holding multiple jobs is rising, new Census report shows

Share of U.S. workers holding multiple jobs is rising, new Census report shows

By , (Reuters) - The share of Americans working more than one job to make ends meet has been growing over the past two decades, and the pay from second jobs make up a substantial share of workers’ earnings, according to a paper published by the U.S. Commerce Department on Wednesday.An estimated 7.8% of U.S. workers had more than one job as of the first quarter of 2018, up from 6.8% in 1996, according to new data unveiled by the Census bureau, which provides a more detailed analysis of multiple job holders than was previously available. The findings were based on data from 18 states.The...

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Jonnelle Marte
Feb 17
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Moderate U.S. job growth in January bolsters case for large stimulus package

Moderate U.S. job growth in January bolsters case for large stimulus package

By WASHINGTON (Reuters) - U.S. employment growth rebounded moderately in January and job losses in the prior month were deeper than initially thought, underscoring an urgent need for additional relief money from the government to aid the recovery from the COVID-19 pandemic.The Labor Department’s closely watched employment report on Friday showed job losses in manufacturing and construction, two sectors which have been propping up the economy. There were further losses at restaurants and bars. Retailers and employers in the transportation industry also laid off workers.President Joe Biden is...

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Lucia Mutikani
Feb 5
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U.S. private hiring rebounds solidly in January

U.S. private hiring rebounds solidly in January

By WASHINGTON (Reuters) - U.S. private payrolls rebounded more than expected in January, suggesting the labor market recovery was back on track after the economy shed jobs in December as soaring COVID-19 infections hurt operations in the leisure and hospitality industry.The ADP National Employment Report on Wednesday showed broad gains in hiring last month, though the pace was half of the monthly average job growth in the last six months of 2020. The stronger-than-expected rise in hiring was likely driven by the nearly $900 billion in additional pandemic relief provided by the government in...

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Lucia Mutikani
Feb 3
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COVID-19 pummels U.S. economy in 2020; performance weakest in 74 years

COVID-19 pummels U.S. economy in 2020; performance weakest in 74 years

By WASHINGTON (Reuters) - The U.S. economy contracted at its sharpest pace since World War Two in 2020 as the COVID-19 pandemic depressed consumer spending and business investment, pushing millions of Americans out of work and into poverty.The Commerce Department’s snapshot of fourth-quarter gross domestic product on Thursday also showed the recovery from the pandemic losing steam as the year wound down amid a resurgence in coronavirus infections and exhaustion of nearly $3 trillion in relief money from the government.President Joe Biden has unveiled a recovery plan worth $1.9 trillion, and...

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Lucia Mutikani
Jan 28
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U.S. economy likely logged its weakest performance in 74 years in 2020

U.S. economy likely logged its weakest performance in 74 years in 2020

By WASHINGTON (Reuters) - The U.S. economy likely contracted at its sharpest pace since World War Two in 2020 as COVID-19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of work and into poverty.The Commerce Department’s snapshot of fourth-quarter gross domestic product on Thursday is also expected to show the recovery from the pandemic losing steam as the year wound down amid a resurgence in coronavirus infections and exhaustion of nearly $3 trillion in relief money from the government.The Federal Reserve on Wednesday left its benchmark...

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Lucia Mutikani
Jan 28
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U.S. private payrolls post first decline in eight months as COVID-19 cases skyrocket

U.S. private payrolls post first decline in eight months as COVID-19 cases skyrocket

By WASHINGTON (Reuters) - U.S. private companies shed workers in December for the first time in eight months as out-of-control COVID-19 infections unleashed a fresh wave of business restrictions, setting the tone for what is likely to be a brutal winter for the economy.The ADP National Employment Report on Wednesday showed job losses across all industries last month as the coronavirus outbreak kept many consumers and workers at home. While the report underscored the magnitude of the crisis, the economy was unlikely to slide back into recession, thanks to additional fiscal stimulus approved...

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Lucia Mutikani
Jan 6
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U.S. weekly jobless claims fall; labor market momentum ebbing

U.S. weekly jobless claims fall; labor market momentum ebbing

By WASHINGTON (Reuters) - The number of Americans filing first-time claims for jobless benefits fell last week, but remained extraordinarily high amid widespread business restrictions to slow a rising tide of new COVID-19 infections and lack of additional fiscal stimulus.The weekly unemployment claims report from the Labor Department on Thursday included the Thanksgiving holiday, which could have impacted the model the government uses to strip seasonal fluctuations from the data.“Jobless claims continue to signal a struggling labor market recovery, and as we approach the end of the year,...

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Lucia Mutikani
Dec 3
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U.S. manufacturing, new homes sales underscore booming economy

U.S. manufacturing, new homes sales underscore booming economy

Welcome to the Reuters.com BETA. Read our Editor's note on how we're helping professionals make smart decisions.U.S. factory activity powered ahead in early April, though manufacturers increasingly struggled to source raw materials and other inputs as a reopening economy leads to a boom in domestic demand, which could slow momentum in the months ahead.The flow of strong economic data continued with another report on Friday showing new home sales racing to a more than 14-1/2-year high in March. The economy is being boosted by the White House's massive $1.9 trillion COVID-19 pandemic rescue...

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Lucia Mutikani
Apr 23
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