Tag: economy
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Wages grow quickly during first quarter
Workers’ pay and benefits rose 2.6% ending in March, down from only 2.8% a year before. However, even as wages grow, employers are struggling to find workers for multiple reasons. The Associated Press has the story: Solid increase in wages after weaker increases during the pandemic WASHINGTON (AP) — Wages and benefits grew quickly for…
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US economy recovering fast post-pandemic
The economy continues to rebound as employers step up hiring and GDP rises. The number of people applying for unemployment benefits reached its lowest since the pandemic started. The Associated Press has the story: Economy rebounding as unemployment decreases, GDP rises and home sales spike WASHINGTON (AP) — Powered by consumers and fueled by government…
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US jobless claims drop to pandemic low
The economy continues to rebound as the pandemic recedes, with the number of Americans applying for unemployment falling to the lowest since the pandemic started. So many jobs have been added that employers are complaining they can’t find enough workers. The Associated Press has the story: Number of Americans applying for unemployment aid falls to…
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Biden bringing in 22k more seasonal workers
As the economy improves, President Joe Biden is bringing in an extra 22,000 seasonal non-agricultural workers to enter the country. Of those, 6,000 will be set aside for the Northern Triangle countries of Central America. The Associated Press has the story: Biden increases cap on seasonal foreign workers from 66,000 to 88,000 WASHINGTON (AP) —…
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Chinese painting should fetch $45 million despite pandemic
The “Slave and Lion” painting by Chinese modern artist Xu Beihong is going up for sale at an auction on May 24 in Hong Kong. It is expected to be sold for $45 million to $58 million despite the economic uncertainty caused by the pandemic. The Associated Press has the story: ‘Slave and Lion’ modern…
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Stocks, S&P 500 rising after bond increases
As the effects of the coronavirus pandemic decrease, the stock market is rebounding. Friday ended a good week as the S&P 500 went up 0.2% and the Dow Jones Industrial Average up 3% as of 2:02 p.m. Eastern. The Associated Press has the story: Tick up in bond yields helps lift bank stocks Major indexes…
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Home construction increasing at fastest rate since 2006
As the economy turns around due to COVID-19 receding, there are some phenomenal leaps and bounds taking place. The construction of new homes and apartments increased 19.4% in March over February growth. The Associated Press has the story: Housing construction rebounds in March to 2006 levels WASHINGTON (AP) — U.S. housing construction rebounded strongly in…
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Jobless claims decrease to lowest since pandemic
The economy continues to turn around as the effects of the pandemic diminish. Employers are adding jobs, the unemployment rate continues to decrease and sales have jumped back. The Associated Press has the story: Only 576,000 Americans applied for unemployment benefits last week WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled…
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Banks to hugely profit as ‘bad’ loans become ‘good’
Banks are starting to move billions of dollars worth of “bad” loans back into the “good” pile where they can now be considered part of their profits. The money had been temporarily placed there due to the pandemic, as a reserve in case loans went bad. The Associated Press has the story: Banks’ money in…
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Stock market increases follow March jobs hike
As the economy improves, stocks are following right along. Monday was a good day for the stock market as gains followed the news on Friday of increases in the job industry. The Associated Press has the story: Economy recovering, stocks rising (AP) Stocks rose broadly on Wall Street in afternoon trading Monday as investors welcomed…