33% of contraction reported in the last quarter

Aug 03, 2020

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The US economy is one of the worst in the world right now, and the Commerce Department's estimate of the second-quarter decline in the GDP has been the most dismal drop since 1947. Consumer spending accounts for over 70 per cent of economic activity, and since that contracted to 34 per cent, the bl ...

Unemployment rate surges for the second week in a row

Aug 03, 2020

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The US job market recovery and the meagre improvements made in the past month are unravelling as unemployment claims have been on the rise for two weeks in a row. More than a million workers in the US applied for state unemployment aid, indicating that the labor market recovery is stalling due to r ...

Topmost jobs for young jobseekers

Aug 03, 2020

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In a job market where roughly 13 per cent of the workforce or more than 19 million people are unemployed can be a daunting experience. However, there are still well-paying jobs that new grads can apply for if they have the expertise. These jobs range from software engineers to sales reps and fetch ...

7 charts illustrating the effect of COVID-19 on the job market

Aug 03, 2020

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In March, the US economy cut 701,000 jobs, when it was expecting a loss of 100,000. What's more, is that over 14 million employees in the US face the risk of COVID-19 exposure every day at work. This has gravely affected a lot of things, such as the labor participation rate and the unemployment rat ...

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The current unemployment rate in the US stands at 6.7%, which is almost double the rate in February ...

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