Economists said the ongoing rotation of workers who have used up their state unemployment benefits cycling out of those programs and into emergency pandemic programs is an indication that more of the spring and summer job losses are becoming permanent, as rising virus case numbers nationwide are prompting business and school closures in a growing number of places.
“A lot of this data is really starting to slow down and become worrisome," said David Wagner, portfolio manager at Aptus Capital Advisors. “There’s a lot of data that just came out today and yesterday that’s maybe showing more signs of slowing growth going into Q4, and maybe even Q1 right now.
Household spending is holding up for now, growing by 0.5 percent in October, but the Commerce Department said personal income, disposable income and savings dropped. A potential silver lining is that worsening economic conditions could motivate Congress to move more quickly on a stimulus package, Mayfield said. “Week to week, it can be a little noisy, but if we start to see a trend as the pandemic is rearing its head again, if the jobless claims start to pick up… it could bring some of the more skeptical members of Congress around,” he said.
I still have a job and my income haven’t been affected. But I am struggling. I don’t if this the case everywhere or just on Vancouver island. I have seen a price increase of more than 10% on everyday products this year.
Long Hard Winter. It is part of the Socialistic agenda since the stolen election!!
You dont have to be an economist to know that. But seeing that 50+million terminated employees caused the stock market to break records, will they return to the propaganda about its the paying of employees thats causing the recession?
Funny I see lots of hiring signs. Fast food, supermarkets, gas stations, restaurants, retail. They aren’t high paying jobs but it’s a job until things get better. A bar owner I know says no one wants to work because they’re making more sittings at home. Is it laziness or economy?
worried about 2021? no wonder dow jones hit an all time high today... nothing to see here folks
They're just getting worried now? Most of us have been in some level of panic for 9 months...
It’s time for UBI and to bail out the PEOPLE we can afford to give billions to corporations but we can’t bail out we the people? Bullshit. Put money in people’s pockets they will spend it.
Thanks democrats for tanking the economy
Tens of thousands businesses closed permanently, not as simple as just open up anymore. People aren't going to go into places either while virus so prevelant. Need a plan not a slogan.
I've always saved. Saved since '99 for potential kids' college. Got fired '16 & paid off house, which helped A lot. People need to save hard for any potential economic disaster from now on. Act like you'll be fired or there will be another pandemic in 10 yes!
Danish Mask Study in Annals of Internal Medicine. A 4800 person randomized trial. Almost identical results: 42 of 2393 people(1.8%) in the mask group & 53 of 2470(2.1%) in no-mask group infected with C19 - The other side of the pandemic the MSM & leftists don’t want you to know.
You communist scum close down the world for a fake virus and now you pretend you care about people.
JoyOfDachshunds Many people got nothing but $1200. I lost $40K income. Desperately needed for my retirement which won't ever be retirement. I'm living off savings in a high rent local. I can't even move. Europe used UI to support people Not Wall Streeters who wouldn't need it if it trickled up.
It’s a good thing we are opening up the economy agai...
If this doesn't worry congress into a stimulus package what would?
Dont start spreading 2021 fear PEOPLE HAD ENOUGH NOW!
Watch what happens when Biden gives 11 million illegals amnesty.
Need stimulus. Now!!!
'Getting worried.' How have they held on to their optimism for so long.
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