Retail sales in the United States rose a record 17.7% in May, according to the U.S. Census Bureau, reflecting a surge in buying as businesses that had been shuttered because of the coronavirus pandemic reopened.
The number of laid-off workers seeking U.S. unemployment benefits dipped only slightly last week, and the economy shrank in the first three months of the year.
The number of Americans signing contracts to buy homes rebounded a record 44.3% in May after a record-breaking decline the previous month, as the impact of the coronavirus pandemic sidelined both buyers and sellers.
State tax officials say Arkansas' June net available general revenue was $589.7 million, down 9.6% from the same month last year and 16.1% above forecast. read more >
The U.S. unemployment falls to 11.1% as the country added a record 4.8 million jobs in June, but the COVID-19 pandemic dims the outlook for further gains. read more >
Business leaders say the economy has begun to recover as businesses reopened in the past month in nine Midwest and Plains states, but it remains weaker than before the coronavirus outbreak began. read more >
U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves total employment far below its pre-pandemic levels. read more >
U.S. home prices gains accelerated in April even as sales have stumbled, a sign the coronavirus outbreak has had little impact on real estate values. read more >
U.S. consumer confidence rose in June, reflecting the partial re-opening of the country but the concern is that rising coronavirus cases in many states could jeopardize future gains. read more >
Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country's ability to contain the spread of the coronavirus. read more >
Since I remain horrified by President Trump, I was mildly amused by the recent fiasco in Tulsa. read more >
The COVID-19 pandemic has shown that technology has made remote work viable for positions previously considered not suitable for such arrangements. And many employees who were previously apprehensive about remote work have now embraced it. Will employers now consider making remote work permanent for such positions? read more >
The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period. read more >
Existing home sales in the U.S. plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market. read more >
Since I'm not at all sure any of us have a good grasp on how much our worlds will have been changed by the pandemic, I think of this week's list as a final snapshot of the old normal that will be valuable when it comes time to document the new normal. read more >
Health care provider finances have consequently been in flux, despite the inflow of federal funds as a stopgap measure. read more >
Arkansas' seasonally adjusted unemployment rate declined to 9.5% in May from 10.8% in April, the state Department of Workforce Services reported Friday. read more >
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, a historically high number, even as the economy increasingly reopens and employers bring some people back to work. read more >
Economist Michael Pakko says the state hasn't been as hard-hit by the economic effects of COVID-19, and it's so far escaped the worst of what other states have experienced. read more >
U.S. retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy and paralyzed consumers during the previous two months. read more >
With disparate treatment of minorities, particularly African Americans, being the impetus for massive protests from coast to coast, many companies have issued statements affirming a commitment to fairness and inclusivity. read more >
Local governments collected $1.7 trillion of general revenue in 2017, according to the Urban-Brookings Tax Policy Center, based in Washington, D.C. read more >
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening. read more >
The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record. read more >
Business economists expect the United States to suffer its worst downturn this year in more than seven decades before growth resumes sometime next year. read more >
From my small but comfortable second home in a town that is just about as white as it is possible to be, I recognize that what seems surreal and unimaginable to me was actually totally predictable. read more >
U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted. read more >
Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs. read more >
U.S. businesses shed 2.8 million jobs in May, significantly less than the 9.3 million job losses that were expected. read more >
With the release of the PPP loan forgiveness application on May 15, and the forgiveness regulations on May 22, businesses have more detailed guidance on how to maximize the forgiveness of loans. read more >
Shutdowns caused by the coronavirus pandemic caused manufacturing output in the United States to drop by 13.7% in April, the steepest decline in the 101-year history of the industrial production index. read more >
The American Trucking Associations released a driver compensation study on May 21 showing that the nation's truck drivers received a nice bump in pay in 2019. read more >
The viral photos of holiday weekend revelry — from Houston to Lake of the Ozarks to Daytona Beach — underscored one thing for me: A lot of Americans are spoiled and selfish. read more >
