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“#Asian-owned businesses hit hard by COVID crisis: report” Asian American business owners have struggled particularly hard during the coronavirus pandemic while also grappling with fears of increased hate crimes, according to a new report. Asian-owned businesses lost a larger chunk of their sales than others during the first wave of COVID-19 lockdowns last year —…
“#Fed Chair Powell says economy ‘to start growing much more quickly’” The US economy is turning the corner, thanks to government support and a turbo-charged campaign to vaccinate Americans against COVID-19, Federal Reserve Chair Jerome Powell said in a new interview. “What we’re seeing now is really an economy that seems to be at an…
“#744,000 filed in stubborn increase” The number of workers seeking unemployment benefits stubbornly jumped again last week even amid hopes that the labor market was getting back on track, the feds said Thursday. Last week’s 744,000 initial jobless claims brought the total for the COVID-19 pandemic to about 79 million — a number more than…
“#Economy’s strength shows it has no need of Biden’s ‘help’” With employment growing by 916,000 jobs in March, the strongest jump since August and beating economists’ expectations, it’s clear the US economy doesn’t need the “help” President Joe Biden insists on sending. After all, the unemployment rate also notched down to 6 percent — closer…
“#916,000 jobs added, 6 percent unemployment” The US economy added 916,000 jobs in March as the labor market’s smoldering recovery from the coronavirus pandemic grew into a fire that’s only expected to get hotter, federal data show. The strongest job growth since August beat economists’ expectations for a gain of 635,000 as more Americans got vaccinated…
“#Millennials are finally becoming less broke: report” Avocado toast may, at last, be within their price range. A parade of economic misfortunes has long left older millennials strapped with debt, the butt of society-wide jokes and struggling to afford homeownership — but the generation’s fate is now looking up, according to a new report. “It…
“#719,000 filed in bounce from COVID-19 low” The number of Americans seeking unemployment benefits unexpectedly jumped above the pre-coronavirus record once again last week, the feds said Thursday. The batch of 719,000 initial jobless claims came just a week after new filings reached their lowest level since the start of the devastating COVID-19 pandemic. Jobless…
“#Obama’s economic adviser blasts Biden’s stimulus plan, says it could trigger high inflation” Former Obama economic adviser Larry Summers continues to blast the Biden administration’s stimulus plan and warns it will result in a major inflation crisis. “We’re taking substantial risks,” Summers told The Washington Post. “This might not have struck as much a nerve if it didn’t reflect…
“#Investors seek Bitcoin haven amid weakening dollar worries” Warren Buffett hates cryptocurrencies. Treasury Secretary Janet Yellen isn’t a fan and neither is Bill Gates. Ditto for scores of great economic minds who call the rise of cryptos like Bitcoin a “bubble,” and a lot worse. I have my doubts as well. I’ve seen too many…
“#NYC economy still ‘fragile’ as state Dems push $7B in new taxes” More than 650,000 city jobs have vanished, key businesses are on the brink of collapse, it will be years before the economy recovers — and Democratic legislators think it’s a great time for $7 billion in new taxes. As Albany lawmakers negotiate the state…