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Labor and Employment

Reuters | Equities.com |

U.S. home builder confidence rose for a third straight month in August to match its highest level ever as record-low interest rates spur a surge in buyer traffic, data released on Monday showed in the latest indication the housing market is standing out as a rare bright spot in the economic crisis triggered by the coronavirus pandemic.

At the same time, however, a growing number of home owners are falling behind on their mortgages with tens of millions still out of work and ...


AP News | Equities.com |

Stock indexes barely budged on Wall Street Friday, leaving the S&P 500 just shy of its record once again.

The S&P 500 edged down 0.58 points, or less than 0.1%, to 3,372.85 after drifting between small gains and losses throughout the day. They’re the latest meandering moves for the market, which has taken a pause after erasing almost all of the steep losses caused by the coronavirus pandemic.

In each of the prior two days, the S&P 500 made a brief run above its record closing high, which was set in February, only to fade in the afternoon. It remains within 0.4% of its record.


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Americans spent more at retail stores and restaurants in July for a straight straight month, but growing evidence suggests that sales are now slowing with the expiration of government rescue aid that had previously put more money in people’s pockets.

Friday’s report from the Commerce Department showed that retail purchases rose by a seasonally adjusted 1.2% last month, with solid gains at appliance and clothing stores helping drive up sales. The gains of the past three months have restored retail purchases to their levels before they plunged in March and April when the pandemic shuttered businesses and paralyzed the economy.


Reuters | Equities.com |

The U.S. economy will expand at a much faster rate in the current quarter than previously expected, but the outlook looks weaker for growth and job creation in the fourth quarter and beyond, according to a Philadelphia Federal Reserve survey released on Friday.

The Philly Fed’s quarterly Survey of Professional Forecasters predicted growth in the current third quarter will come in at a 19.1% annualized rate, nearly double the previous forecast for a 10.6% expansion from J...


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American Airlines is planning to drop flights to up to 30 smaller U.S. cities if a federal requirement to continue those flights expires at the end of next month, an airline executive familiar with the matter said Thursday.

American agreed to keep serving those smaller cities as a condition of receiving $5.8 billion in federal payroll help this spring. However, the money and the requirement to serve those destinations both expire Sept. 30 un...


AP News | Equities.com |

Another afternoon fade for stocks left Wall Street just shy of its record heights on Thursday, after the S&P 500 briefly crossed above its all-time closing high for the second straight day.

The S&P 500 dipped 6.92 points, or 0.2%, to 3,373.43. At one point during the day, it climbed above 3,386.15. That’s the record closing level it set in February, before investors appreciated how much devastation the new coronavirus would cause for the global economy.


AP News | Equities.com |

By Christopher Rugaber

WASHINGTON (AP) — The number of laid-off workers applying for unemployment aid fell below 1 million last week for the first time since the pandemic intensified five months ago yet still remains at a high level. The viral pandemic keeps forcing layoffs just as the expiration of a $600-a-week federal jobless benefit has deepened the hardships for many.

The Labor Department said applications fell to 963,000, the second straight drop, from 1.2 million th...


Reuters | Equities.com |

(Reuters) - Uber Technologies Inc would be forced to shut down its ride-hailing operations in California if a court ruling that blocks it from classifying its drivers as independent contractors goes into effect, the company said in a court filing.

A California judge on Monday granted the state’s request for a preliminary injunction blocking Uber and rival Lyft Inc from classifying their drivers as independent contractors rather than employees.

Several h...


AP News | Equities.com |

U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February.

The S&P 500 rose 0.3% after wavering between small gains and losses in the early going. The benchmark index is now within 1% of its last record high.

The gains came on the first trading day since President Donald Trump announced several stopgap moves to aid the economy in response to the collapse of talks on Capitol Hill for a bigger rescue package.


Reuters | Equities.com |

(Reuters) - After two months of feeling slightly better about their odds in the labor market, Americans grew more pessimistic in July, according to a survey released Monday by the New York Federal Reserve.

The shift reflects the effects of fresh restrictions enacted by state and local governments to combat a resurgence in coronavirus infections. U.S. employment growth slowed considerably in July, reflecting a potential slowdown in the economic rebound. Nonfarm payrolls increased by ...