Long-term unemployment tumbled below its pre-pandemic level in July, the U.S. Department of Labor said Friday, as an unexpectedly strong showing of job gains buoyed workers broadly across the economy....
Tag: U.S. Economy
Is the economy in a recession? Top economists weigh in
‘We should have an objective definition’ Officially, the NBER defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than...
CDC estimates 1.7 million gay and bisexual men face highest risk from monkeypox
The Centers for Disease Control and Prevention estimates about 1.7 million men who have sex with men face the biggest threat from monkeypox right now. CDC Director Rochelle Walensky told reporters on ...
Will the Stock Market Rebound Continue? Goldman Says …
The stock market has been on a roll lately, with the S&P 500 soaring 13% since June 16 amid optimism that the Federal Reserve won’t raise interest rates much more. But now Fed officials are making...
Biden administration will declare monkeypox a public health emergency
People protest during a rally calling for more government action to combat the spread of monkeypox at Foley Square on July 21, 2022 in New York City. Jeenah Moon | Getty Images The Biden administratio...
Wastewater samples outside New York City suggest community spread
Polio virus particle, computer illustration. Kateryna Kon | Science Photo Library | Getty Images Polio has been found in wastewater samples taken from two counties outside of New York City indicating ...
Main Street confidence hits all-time low on belief recession is here
Fg Trade | E+ | Getty Images Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft la...
Moderna (MRNA) Q2 2022
Illustration of a vial of Moderna vaccine for coronavirus treatment. Marcos Del Mazo | Lightrocket | Getty Images Moderna on Wednesday reported second quarter results that beat earnings and revenue ex...
Typical job switcher got a pay raise of nearly 10%, study finds
Morsa Images | DigitalVision | Getty Images Many workers who changed jobs recently saw raises from their new paychecks outpace inflation by a wide margin — by nearly 10% or more, according to a new st...
Home prices cooled at record pace in June, according to housing data firm
A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. The number of homes for sale in the U.S. increased by 2 percent in June for the first time since 2019. Justi...
‘I’m focused on the inflation data’
Neel Kashkari, Minneapolis Federal Reserve Brendan McDermid | Reuters If you’re debating whether or not the U.S. is in a recession, you’re asking the wrong question, according to a top Fed...
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on...
How HIMARS could change the Ukraine-Russia war
Artillery has quickly become the most important weapon in Ukraine’s war with Russia. Ukrainian forces have begun to use newer Western artillery, like the M777 Howitzer, in the battlefield. But a...
Health secretary calls on Congress and states to do more to help contain monkeypox outbreak
People wait in line for the monkeypox vaccine at the Balboa Sports Center in the Encino neighborhood of Los Angeles, California, on July 27, 2022. Robyn Beck | AFP | Getty Images The U.S. health secre...
Watch Treasury Secretary Janet Yellen talk live about the state of the U.S. economy
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Janet Yellen speaks Thursday at a news conference on the stat...
U.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreads
The U.S. will make 786,000 additional monkeypox vaccine doses available to local health departments “as soon as possible” after the Food and Drug Administration approved the shots for dist...
WHO recommends gay, bisexual men limit sexual partners to reduce spread
People line up outside the Test Positive Aware Network nonprofit clinic to receive the monkeypox vaccine in Chicago, Illinois, July 25, 2022 Eric Cox | Reuters The World Health Organization on Wednesd...
Pending home sales fell 20% in June as mortgage rates soared
A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dr...
Homebuilders boost incentives as they suddenly struggle to sell homes
Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021. Micah Green | Bloomberg | Getty Images After two years of...
Home price growth slowed in May, S&P Case-Shiller says
New homes under construction in Tucson, Arizona. Rebecca Noble | Bloomberg | Getty Images Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogi...
Economist Roubini: ‘Severe’ Recession, Financial Crisis Coming
The economic outlook is murky now. It’s difficult to know when inflation will peak, when it will fall in earnest and thus how far the Federal Reserve will ultimately lift interest rates. It’s also unc...
When to buy euros, other currency for a trip abroad
Glowimages | Glowimages | Getty Images It’s a good time to be an American traveling abroad. The value of the U.S. dollar has been at its strongest in years relative to many major global currenci...
WHO declares spreading monkeypox outbreak a global health emergency
Pavlo Gonchar | Lightrocket | Getty Images The World Health Organization has activated its highest alert level for the growing monkeypox outbreak, declaring the virus a public health emergency of inte...
The Federal Reserve’s inflation fight and the U.S. housing market
The Covid-19 pandemic caused chaos in the U.S. housing market, with prices skyrocketing, inventories dwindling and intense bidding wars. Then came record inflation, which drove the price of everything...
Biden administration considering public health emergency
A Northwell Health staff member holds the monkeypox vaccine, at Cherry Grove on Fire Island, New York, where monkey pox vaccines were administered on July 14, 2022. James Carbone | Newsday | Getty Ima...
Polio case confirmed in New York state, health-care providers told to look for more
Polio virus, illustration. Each virus particle is composed of a protein coat around a core containing RNA genetic material. This virus infects children and causes the disease poliomyelitis or infantil...
Here’s What Another China Lockdown Could Mean For The U.S. Economy
More Covid lockdowns in China would be “another headache” for the Federal Reserve in its battle against inflation, experts say, though global supply-chain bottlenecks are easing. If there’s any indica...
Shares of Bath & Body Works fall after company lowers sales guidance, citing more cautious consumers
Bath & and Body Works entrance. Jeff Greenberg | Getty Images Shares of Bath & Body Works fell Wednesday after the company lowered its sales and earnings outlook, citing a more challenging mac...
What Main Street and the economy need from Congress: Goldman Sachs CEO
Pawel Toczynski | The Image Bank | Getty Images The U.S. economy is going through one of the most difficult periods I’ve seen in my 40-year career. Inflation, labor shortages, supply chain disru...
Mortgage demand drops to lowest level in 22 years
Daniel Acker | Bloomberg | Getty Images The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last w...