Markets
Unemployment Rate Falls to 13.3% as States Reopen During Coronavirus
Those figures were mirrored in B.C., where 43,300 jobs were added last month, but unemployment reached 13.4 per cent - up from 7.2 in March and five in February. Of note: 1.5 million Americans left the labor force - meaning they gave up looking for work - between April and May. People not actively seeking work aren't counted in unemployment figures. [Full Article...]
Toronto And Vancouver Housing Markets Rebound In May
A May poll by TRREB showed 27 per cent of the Greater Toronto Area households were looking to purchase a home over the next year, suggesting that sales may improve further in the coming months provided the economy is not adversely hit by new waves of the pandemic. [Full Article...]
United States shows surprising jobs recovery in May amid pandemic
This is a rocket ship", he said. PHOTO: President Donald Trump speaks during a news conference in the Rose Garden of the White House, June 5, 2020, in Washington. The U.S. Labor Department said 1.87 million workers filed new jobless claims last week, 249,000 fewer than the week prior but still a grievous figure almost three times higher than the weekly record in the pre-pandemic economy. [Full Article...]
Trump declares victory as U.S. unemployment drops to 13.3%
In May, 2.5 million jobs were added, according to the Bureau of Labor Statistics , appearing to add momentum to Trump's strategy of reopening the economy - a key to his reelection hopes - after much of it was shut down amid the coronavirus pandemic. [Full Article...]
Unemployment drops to 13.3% in May as economy adds 2.5M jobs
Pandemic panic has now pushed more than 42.5 million Americans into unemployment since mid-March lockdowns began. The remaining 8,000 claims were duplicates, a product of overlap between traditional state unemployment insurance and federal Pandemic Unemployment Assistance available to people not covered by the state system. [Full Article...]
Nissan warns UK plant 'unsustainable' without EU trade deal
Nissan has already warned that a no-deal Brexit, which would see World Trade Organization tariffs imposed on its cars, would threaten its future in Europe and in Sunderland. The United Kingdom left the European Union on January 31 but the main terms of its membership remain in place during a transition period until the end of this year, allowing it time to negotiate a new free trade deal with the ... [Full Article...]
Bank of England tells banks to 'prepare' for no deal Brexit
Andrew Bailey held a conference call on Tuesday with Britain's biggest lenders in which he emphasised that they needed to step up their plans for Britain failing to secure a post-Brexit trade deal with the European Union before a deadline at the end of 2020, Sky News reported. [Full Article...]
Treasurer Josh Frydenberg confirms Australia in recession as coronavirus wrecks economy
Treasurer Josh Frydenberg disclosed that the economy shrunk by 0.3 percent in the first three months of the year, amid bushfires and the early stages of the COVID-19 outbreak. To survive, he earns money delivering for UberEats on his pushbike and has turned to free food drives. The week before Germany, Europe's largest economy, slipped into recession , while other big economies, including the... [Full Article...]