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Employment continues to take two steps forward and one step back as the economy struggles to recover from problems posed by the pandemic. |
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Employment takes another step back in recovery process Of all the economic factors that were impacted by the COVID-19 pandemic, perhaps none has been tougher to understand than the yo-yo movements of employment. Following small signs of progress in the previous jobs report, Thursday's numbers showed another dip. New applications for unemployment benefits saw a surprise uptick last week as initial jobless claims climbed to 419,000, an increase of 51,000 over the previous week. Experts say the surging Delta variant may be the cause, but the jobs numbers have been tough to judge. In fact, of the 26 states that ended unemployment supplements to get people back to work, none saw significant gains in employment. SEE WHICH STATES ARE MAKING MOVES IN EMPLOYMENT
Leading Economic Indicator forecasts continued growth While unemployment and inflation remain major stumbling blocks to a full recovery, one group of economists believe the US is well on its way to more growth -- and they have the numbers to back it up. According to a respected New York think tank called the Conference Board, its Leading Economic Index (LEI) increased by 0.7% in June to 115.1.That's not a random number; the LEI takes a wide range of data into consideration -- GDP, consumer spending, home sales, industrial production and more -- and its track record is strong. SEE WHAT THE LATEST LEI SAYS ABOUT THE RECOVERY
Airlines seeing profits take off from record pandemic lows Fed up with more than a year of pandemic-related travel restrictions, Americans are returning to the skies in droves this summer. That's why three of the four largest air carriers in the US reported second-quarter profits on the heels of a crisis that nearly grounded them. American, United and Southwest Airlines saw elevated profits in Q2 and expect that growth to continue at least through Q3 unless the current surge of the Delta variant sets back efforts to contain the virus. But with half the population vaccinated and ready to return to normal life, the airlines finally appear to be on an upward trajectory. WHEN INTERNATIONAL TRAVEL RESTRICTIONS BE LIFTED?
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Markets
| DJIA | 34,823.35 | 0.07% |
| S&P 500 | 4,367.48 | 0.20% |
| Nasdaq Composite | 14,684.60 | 0.36% |
| Japan: Nikkei 225 | 27,548.00 | 0.58% |
| UK: FTSE 100 | 6,968.30 | -0.43% |
| Crude Oil Futures | 71.72 | -0.26% |
| Gold Futures | 1,803.90 | -0.08% |
| Yen | 110.26 | 0.09% |
| Euro | 1.18 | 0.01% | | * As of market close |
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Tokyo Olympics a go despite virus surge
The Tokyo Olympics holds its Opening Ceremony today despite calls at home and abroad to cancel the games amid Japan's COVID-19 surge. The nation's capital celebrated the start of the Summer Games, already one-year delayed, as the most troubled Olympics in modern history. While the world will be watching the Games with interest, the 11,000 athletes (not to mention the thousands of organizers on the ground) are enduring strict protocols and zero fan support in the stands while literally putting their lives on the line for their country. And regardless of the quality of the competition, it won't be the same without the roar of the crowd. SEE HOW JAPAN IS HANDLING THE CRISES AT THE OLYMPICS
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US takes parting air strikes in Afghanistan
The decision to withdraw all US forces from Afghanistan should come with an asterisk -- just because there are few American boots on the ground doesn't mean the US won't maintain a strong presence in the air space. That signal was sent loudly and clearly as US forces rush to pull out of the country by the Aug. 31 deadline. The Taliban is already seizing control of large segments of the embattled nation in anticipation of a US withdrawal, however, the US is maintaining air superiority in support of Afghan troops. The military confirmed reports of recent bombings of key Taliban targets. WILL US AIR POWER BE ENOUGH TO FEND OFF THE TALIBAN?
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Las Vegas rolls the dice on mask mandate
Las Vegas is a great place to gamble -- in more ways than one. It seems Sin City is not just a hot spot to risk all your money, but also your life. What could be more COVID-dy than a room full of maskless strangers sitting around a blackjack table and screaming for the dealer to bust? After being forced to close during the height of the pandemic, casinos are back in business and bringing in thrill-seekers from around the country amid the Delta variant surge. That's why Clark County has implemented a new mask mandate for employees, although customers are free to go maskless per casino policy. It's better to lose all your chips than your life. WHY LAS VEGAS IS RAISING THE STAKES ON MASK MANDATES
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What happened in Vegas ...
There are more than 100 casinos operating in Las Vegas, but there is only one first. What was the first casino to open in Las Vegas and what year? Thursday's answer: Congress voted to restore former Confederate General Robert E. Lee's US citizenship in 1975, 105 years after his death. SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE
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