Thursday, 09 April 2020
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Thursday, 9 April 2020 20:19 WIB

The latest round of coronavirus-induced layoffs and furloughs soared by another 6.6 million in the first week of April, bringing total job losses in less than a month to a stupefying 16.8 million. Initial jobless claims, a rough proxy for job losses, have now posted increases of 6.6 million, 6.9 million and 3.3 million in the last three weekly readings since the middle of March. Initial jobless claims leaped a seasonally adjusted 6.6 million in the week of March 29 to April 4, topping the 6 million MarketWatch forecast. What™s more, new claims in the last week of March were revised up...

RECENT NEWS
U.S. Shed 701,000 Jobs in March in Foretaste of Worse to Come
Friday, 3 April 2020 19:48 WIB | Non-Farm Employment Ekonomi AS

The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the subsequent two weeks. Nearly 10 million Americans “ 6% of a total workforce of 164 million - have filed for unemployment benefit since the Bureau of Labor Statistics cut-off date of March 12. Analysts...

U.S. Initial Jobless Claims Leap to Record 6.65 Million
Thursday, 2 April 2020 19:52 WIB | Jobless Claim Ekonomi AS Klaim pengangguran AS

The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the coronavirus pandemic on the labor market became apparent. The increase dwarfed the prior weeks figure of 3.28 million and eclipsed the previous record of 695,000 set in 1982. The number of people already receiving benefits increased to 3.029 million, the report said. Ahead of the report, Goldman Sachs had revised up its estimate for jobless claims to 6 million, adding it expected claims...

U.S. Factory Activity Contracts In March; Orders Tumble To 11-Year Low
Wednesday, 1 April 2020 21:30 WIB | ISM AS Ekonomi AS

U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists' views that the economy was in recession. The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity fell to a reading of 49.1 last month from 50.1 in February. Economists polled by Reuters had forecast the index dropping to 45.0 in March. A reading below 50 indicates contraction in the manufacturing sector, which accounts for 11% of the U.S. economy....

U.S. Private Sector Sheds 27,000 Jobs in March: ADP
Wednesday, 1 April 2020 19:43 WIB | ADP Ekonomi AS

The U.S. private sector shed 27,000 jobs in March, according to a report by payrolls processor ADP, before the worst of the impact of the coronavirus pandemic on the U.S. labor market was seen. Economists had expected the report to show a much larger loss of 150,000 jobs. Februarys figure was revised to 179,000 from the 183,000 initially reported. The ADP numbers come ahead of the Labor Department's nonfarm payrolls report for March on Friday, which includes both public and private-sector employment. Due to the timing of the survey period for Fridays report it likely preceded the...

Consumer Confidence Sinks In March To A 32-Month Low
Tuesday, 31 March 2020 21:25 WIB | Ekonomi AS

Consumers started to rapidly lose confidence in the economy in March as a deadly coronavirus spread, a new survey shows, and its likely to plunge a lot more in the month ahead as millions are thrown out of work and the U.S. sinks into recession. The closely followed index of consumer confidence fell to 120 in March from a revised 132.6 in February, the Conference Board said Tuesday. Similarly, a daily survey by Morning Consult and the consumer-sentiment index in March have also plunged. Source : Market Watch

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ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB

A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The manufacturing purchasing...

UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB

The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs even before negotiations with China unraveled and he...

EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB

Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash reading of the country's composite Purchasing...

GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB

A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will "have to go out and buy much larger tractors,"...