Tag: jun 09 2020

With parents out of work, and unable to find even a minimum wage summer job for themselves, about 56 percent of college students say they can no longer afford their tuition costs, according to a survey by OneClass, which sells study guides. About 7 percent of those responding have left college and are seeking full-time...

In mid-February, we had forecast this would happen in the Trends Journal, and now it is reality: Retailers needing to generate cash and dump old merchandise are offering rock-bottom prices as they reopen stores. Discounts will be especially deep on items such as fashion and furniture. Across the spectrum, from clothing to footwear to date-expired...

Mass protests sparked by the killing of George Floyd by a Minneapolis police officer have further slowed the reopening of the global economy. Apple stores that had reopened shut down again, and some were boarded up after several were broken into. Macy’s also boarded over it’s NYC store, delayed reopening some stores, and closed others...

About 1.9 million U.S. workers filed claims for unemployment benefits during the week ending 29 May, a number that surprised many analysts who had expected a more positive number. The number of new claims was almost three times as high as the largest number of claims filed in a single week during the Great Recession....

The nonpartisan Congressional Budget Office (CBO) has revised downward its January economic forecast for the U.S. from 2020 to 2030 by $7.9 trillion, or 3 percent of the GDP it had previously expected during the decade. U.S. GDP is unlikely to restore all of that $7.9 trillion until 2029’s fourth quarter, the CBO said. In...