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What Happened: On Thursday, the Commerce Department released a report showing that the US economy grew a robust 6.5% in the second quarter, another sign that the economy is in a recovery. With the acceleration in the nation's GDP (gross domestic product), the total size of the economy has actually surpassed the pre-pandemic level. The quarterly numbers, although positive, were lower than what analysts had expected, mostly due to supply chain bottlenecks. Consumer spending als

What Happened: According to the Labor Department, the US economy added 850,000 jobs in June, higher than the 700,000 jobs economists projected. Unemployment remained about the same at 5.9% in June. Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services. Economists are optimistic that the economy is strengthening and headed in the right direction. Despite some of the positive tre

What Happened: According to a report released by the Labor Department on Thursday, 364,000 Americans claimed first-time jobless benefits over the last week, a 51,000 drop from the previous week and the lowest number since the start of the pandemic last year. The report comes out one day before the much anticipated June Non-Farm Jobs Report which is expected to show a gain of roughly 700,000 new jobs and a slight decrease in the unemployment rate. Although analysts are hopeful

What Happened: On Tuesday, a divided Supreme Court voted to deny a request to end the CDC’s eviction moratorium. The final vote was 5-4 in favor of maintaining the moratorium with Justices Gorsuch, Alito, Barrett and Thomas voting against. The moratorium, which is currently set to expire on July 31, prevents landlords from evicting certain tenants who are unable to pay rent during the COVID-19 pandemic. Just last week, the CDC announced an extension of the eviction moratorium

What Happened: On Thursday, the CDC and the Biden administration announced that they are extending the eviction moratorium by 30 days until July 31st, but that this is expected to be the last time they will do so. Said CDC Director, Dr. Rochelle Walensky, "this is intended to be the final extension of the moratorium." White House Secretary Jen Psaki stated that the ban on evictions for renters and mortgage holders was "always intended to be temporary." Several dozen Congress

What Happened: According to a report released by the Labor Department on Thursday, 411,000 Americans claimed first-time jobless benefits over the last week, a slight 7,000 decrease from the previous week which had seen a surprise increase in applications for the first time in 6 weeks. The insured unemployment rate was 2.4% for the week ending June 12, a slight decrease of 0.1%. This is the lowest level for insured unemployment since March 21, 2020. Analysts are hopeful that t

What Happened: According to a report released by the Labor Department on Thursday, 412,000 Americans claimed first-time jobless benefits over the last week, a 37,000 increase from the previous week, which had been a pandemic low. Analysts were surprised at the increase as applications for unemployment aid had been dropping for six weeks straight and the job market has been showing signs of strengthening. Economists were expecting the number to be around 360,000 and that the

What Happened: On Thursday, the Labor Department issued a report showing that the consumer price index increased an additional 0.6% in May, bringing total inflation to 5% over the last 12 months - the largest increase since 2008. As the economy continues to rebound from the pandemic, economists are saying that a surge in demand has led to a shortage of labor and materials, thereby causing the inflation. The labor market also seems to be on the road to recovery as initial clai

What Happened: According to the Labor Department, the US economy added only 559,000 jobs in May, less than the 675,000 jobs economists projected. Unemployment decreased slightly from 6.1% in April to 5.8% in May. Economists are optimistic that the reopening of the economy, the easing of safety restrictions and the drop in jobless claims shows that the economy is headed in the right direction. Despite some of the positive trends, this is the second month in which the jobs repo

What Happened: According to a report released by the Labor Department on Thursday, 406,000 Americans claimed first-time jobless benefits over the last week, a 38,000 drop from the previous week and the lowest number since the start of the pandemic last year. This is an encouraging sign that layoffs are slowing down because of an improving job market and that the economy is on a rebound. Despite the positive trends, some businesses are having difficulty finding applicants for

What Happened: According to a report released by the Labor Department on Thursday, 444,000 Americans claimed first-time jobless benefits over the last week, a 34,000 drop from the previous week and the lowest number since the start of the pandemic last year. Despite the lower than expected jobs report earlier this month, this is an encouraging sign that layoffs may be slowing down because of an improving job market. With the job market seemingly heading in the right directio

What Happened: According to the Labor Department, the US economy added only 266,000 jobs in April, far less than the 1 million jobs economists projected. Unemployment also rose slightly from 6% in March to 6.1% in April. Economists are still optimistic that the reopening of the economy, the easing of safety restrictions and the vaccine rollout will help bolster the economy and say that the drop in jobless claims shows that the economy is still heading in the right direction.

What’s Happening: On Wednesday, President Biden plans to unveil his $1.8 trillion “American Families Plan.” The massive plan contains federal investments in education, child care and paid family leave and is the second half of Biden’s two-part plan to revitalize the nation and help the economic recovery. The plan would make permanent several of the tax credits that were contained in the Covid Relief Bill Congress passed earlier this year. The White House says the bill will pa

What Happened: On Tuesday, the Conference Board reported that US consumer confidence has risen sharply for the second straight month to 121.7 in April (up from 109.0 in March), the highest number since the pandemic began last year. The rapid vaccine rollout, the additional financial support passed by Congress in the last Covid Relief Bill and an improving job market are credited with the increase in US consumer optimism. The Expectation Index, an index which measures consumer

What Happened: According to a report released by the Labor Department on Thursday, 547,000 Americans claimed first-time jobless benefits over the last week, nearly a 30,000 drop from the previous week and the lowest number since the start of the pandemic last year. An encouraging sign that layoffs may be slowing down because of an improving job market. With the accelerated rollout of Covid-19 vaccinations, the passage of Biden's Covid-19 Relief Bill and a job market that has

What Happened: According to a report released by the Labor Department on Thursday, 576,000 Americans claimed first-time jobless benefits over the last week, nearly a 200,000 drop from the previous week and the lowest number since the start of the pandemic last year. With the accelerated rollout of Covid-19 vaccinations, the passage of Biden's Covid-19 Relief Bill and a job market that has been slowly strengthening, economists are hopeful that this is a sign of an improving ec

What Happened: On Monday, the CDC extended the federal ban on evictions until June 30. The extension will provide relief to millions of Americans struggling to pay their rent because of the Covid-19 pandemic. This is the third time the deadline has been extended. Said CDC Director, Rochelle Walenksy, "The Covid-19 pandemic has presented a historic threat to the nation's public health. Keeping people in their homes and out of crowded or congregate settings...is a key step in h

What Happened: According to a report released by the Labor Department on Thursday, 684,000 more Americans claimed first-time jobless benefits over the last week, the lowest number since the start of the pandemic last year and below the projected number of 735,000. With a decline in confirmed coronavirus cases, the passage of Biden's Covid-19 Relief Bill and a job market that has been slowly strengthening, economists are hopeful that this is a sign of an improving economy. Fou

What Happened: According to a report released by the Labor Department on Thursday, 770,000 more Americans claimed first-time jobless benefits over the last week, an increase of 45,000 from the previous week. The four-week average of jobless claims dropped to 746,000, the lowest since November, 2020. Despite the slight increase over this last week, with the decline in confirmed coronavirus cases, the passage of Biden's Covid-19 Relief Bill and a job market that has been slowly

What Happened: According to a report released by the Labor Department on Thursday, 712,000 more Americans claimed first-time jobless benefits over the last week, a decrease of 42,000 from the previous week and the lowest total since early November. With a decline in confirmed coronavirus cases, the passage of Biden's Covid-19 Relief Bill and a job market that has been slowly strengthening, economists are hopeful that this is a sign of an improving economy. Continued jobless c