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Improvement In US Weekly Jobless Number Weaker Than Expected, Continuing Claims Top 25M
Thursday, May 21, 2020 - 9:02am | 501Read More...New U.S. jobless claims fell from 2.69 million to 2.44 million for the week of May 16, according to the latest Department of Labor report. The continued improvement was weaker than the consensus forecast of 2.4 million new claims. “We continue to read of firms cutting their workforce...
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JPMorgan CEO Jamie Dimon Urges Government and Businesses To Act For Common Good
Wednesday, May 20, 2020 - 7:46am | 527Read More...JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon asked that businesses and the government use the ongoing pandemic as an opportunity to build a fairer economy for the common good. The Financial Reality Laid Bare In a staff memo written before the bank’s annual shareholder meeting...
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New Jobless Claims Fall Week-Over-Week: From 'Natural Disaster Phase To Recession Phase'
Thursday, May 14, 2020 - 9:02am | 485Read More...Continuing jobless claims for the week of May 3 reached 22.83 million compared to a 25.1-million forecast and the previous week’s revised figure of 22.38 million. Initial jobless claims fell from a revised number of 3.17 million in the last week of April to 2.98 million...
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U.S. Policy Responses To Labor Market Distress
Monday, May 11, 2020 - 3:12pm | 1720Read More...The unemployment data tells the story of the economic damage in the United States better than any other data, and the numbers are overwhelming. In the monthly employment reports, over 20 million jobs were reported as lost in April 2020, and the unemployment rate was reported as a dismal 14.7%. This...
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Canada Jobs Report Shows Staggering Losses For Trucking From COVID-19
Friday, May 8, 2020 - 3:26pm | 663Read More...It just keeps getting worse for Canada's trucking industry during the COVID-19 pandemic. Even as freight volumes recover, the job losses are staggering. Canada's transportation and warehousing sector shed 102,800 jobs in April, or about 10.4% of the workforce, federal jobs data released Friday...
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US Unemployment Claims Still Rising As States Reopen Businesses
Thursday, May 7, 2020 - 8:45am | 280Read More...Last week, just as some states began to reopen their economies, U.S. jobless claims continued to pile up. Continuing claims struck 22.65 million — up from 18.01 million the previous week and far more than the 19.91 million forecasted. However, that figure’s growth may be slowing....
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Fed Has Market's Back As It Pledges To Keep Rates Low Until Economy Can Swim On Its Own
Wednesday, April 29, 2020 - 3:40pm | 2366Read More...Today’s Fed meeting takes a definite back seat to a lot of other news. The meeting concluded without a policy change but with the Fed pledging to keep rates at zero until the economy is back on track toward full employment and inflation. The way things are going, that could be a long time....
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Today's Pickup: C.R. England Tops Four Million Meals Donated
Monday, April 27, 2020 - 11:25am | 966Read More...Good day, While efforts by the nation's logistics companies to assist those in need are continuing, with many companies collecting donations or handing out food, C.R. England and subsidiary England Logistics have continued to do their part through the One Initiative. The companies announced they...
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Monday's Market Minute: Earnings Heat Up As Central Banks Convene
Monday, April 27, 2020 - 9:50am | 308Read More...It’s another big week for traders and investors alike, with earnings, economic data, and central bank activity. Meaning there is a lot to stay dialed in on. First and foremost, this week we have 160 S&P 500 companies, including some big names, set to report quarterly results. We also have...
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Freight Volumes Have Not Found The Bottom Yet
Thursday, April 16, 2020 - 1:53pm | 1609Read More...This week's DHL Supply Chain Pricing Power Index: 25 (Shippers) Last week's DHL Supply Chain Pricing Power Index: 45 (Shippers) Three-month DHL Supply Chain Pricing Power Index Outlook: 50 (Balanced) The DHL Supply Chain Pricing Power Index uses the analytics and data contained in FreightWaves...
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Idled Production, Layoffs Continue At Greenbrier
Thursday, April 16, 2020 - 1:21pm | 591Read More...A week after warning of the potential for future manufacturing shutdowns and layoffs on its fiscal second quarter 2020 (ended February 29) conference call, railcar and equipment manufacturer Greenbrier Companies, Inc. (NYSE: GBX) announced that it has idled railcar production at its flagship...
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Rising Joblessness Increases Candidate Pool For Nikola
Thursday, April 16, 2020 - 1:14pm | 848Read More...As unemployment rises because of the coronavirus pandemic, electric and fuel cell truck maker Nikola Motor is in the enviable position of attracting top talent for scores of pre-production job openings. The interest in working for the startup is so great that business-to-business site LinkedIn...
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Morgan Stanley Misses On EPS, But Shows Strong Trading Results For Q1 As Banks Wrap Up
Thursday, April 16, 2020 - 9:49am | 2627Read More...Any rally today will have a fight on its hands against a cascade of fresh dismal data. Initial jobless claims of 5.2 million last week came in a little worse than analysts had expected, and housing starts fell out of bed in March with a 22.3% decline. That, along with weak earnings results from...
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Pace Of New Jobless Claims Slows Week-Over-Week; Moody's Economist Says There's More To Come
Thursday, April 16, 2020 - 8:44am | 228Read More...The economic fallout from the coronavirus pandemic continues to mount. The U.S. Department of Labor reported 11.976 million continuing jobless claims for the week of April 5 on Thursday — far exceeding the previous week’s record of 7.455 million, but well below economists’...
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Goldman Sachs Predicts US Unemployment Claims Might Hit 37M By End Of May
Thursday, April 16, 2020 - 6:26am | 195Read More...The unemployment claims in the United States could increase to 37 million by the end of May, Goldman Sachs analysts have forecasted, Forbes reported on Wednesday. According to the investment firm, the number of claims filed on Thursday alone could increase by 5.5 million. That would bring the...
