NEW YORK, July 3 ― The US economic recovery, after two months of faster-than-expected job gains, may be stumbling as a surge of new coronavirus infections prompts states to delay and in some cases reverse plans to let stores reopen and activities resume. High-frequency data assembled by Federal...
People eat in outdoor seating outside a restaurant before the city starts phase two of reopening after the lockdown due to the coronavirus disease, in the Manhattan borough of New York City, June 21, 2020. — Reuters pic
Some of those reopening plans have now been put on hold and new restrictions placed on the bars, restaurants and other hospitality industry companies that helped the US economy add 4.8 million jobs in June. It was the second straight month of record employment growth reported by the Labour Department, and investors read it as a sign the US economic crisis may be easing. Major stock indexes were all higher.
Estimates of foot traffic to retail stores, compiled by Reuters from cellphone data supplied by Safegraph, fell for the first time since early April, at the bottom of the economic crisis triggered by the novel coronavirus pandemic. Hours worked at more than 44,000 small businesses, whose employee hours are managed by Homebase, fell in 25 states in the week ending June 28. That included a more than 7 per cent decline in Arizona and a more than 5 per cent drop in Texas, where new outbreaks forced governors to renege on aggressive efforts to reopen the economy.
But, alongside mixed adherence to social distancing, mask use and other personal behaviors that can slow the spread of the coronavirus, it also caused the Oxford indexes' health measures to erode.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Novartis agrees to US$642m US settlement over kickbacks | Malay MailWASHINGTON, July 2 — Swiss pharmaceutical giant Novartis has agreed to pay more than US$642 million (RM2.75 billion) to settle a lawsuit that accused it of paying kickbacks to doctors, among other allegations, the US Department of Justice said. Part of the settlement was related to the...
Read more »
China's factory activity expands, but job losses quicken amid weak exports, says survey | Malay MailBEIJING, July 1 ― China's factory activity grew at a faster clip in June after the government lifted coronavirus lockdown measures and ramped up support steps, but the health crisis continues to pressure exports and jobs, a private business survey showed today. The Caixin/Markit Manufacturing...
Read more »
Asian markets set for shaky start amid mixed cues | Malay MailNEW YORK, July 1 ― Asian stocks were set for a bumpy start to the second half of the year today as optimism about a global economic recovery from the pandemic jousted with signs in the United States the health crisis may not yet be past its peak. Stocks futures were mixed in early Asian trade...
Read more »
India's coronavirus cases cross 600,000 amid easing of lockdowns | Malay MailMUMBAI, July 2 — India's coronavirus infections surpassed 600,000 today, with 17,834 deaths, as authorities battled to contain the pandemic while easing lockdown rules, officials and the health ministry said. Fresh challenges to protect people from the virus emerged for disaster management...
Read more »
US soap opera uses blow-up doll to film intimate scenes amid pandemicThe producers of 'The Bold And The Beautiful' have come up with creative ways to film romantic moments in the midst of the Covid-19 pandemic.
Read more »
NY cuts US$1 bil from police budget amid 'defund' callsProtesters demand money be shifted to social services to help fight racial injustice. FMTNews Police Budget NewYork
Read more »