States with lower vaccination rates and more COVID-19 cases are behind in job and economic growth this summer
Author: Paul Davidson, USA TODAY
Flush with COVID-19 stimulus money and boosted by reopenings, the U.S. economy grew sharply in the spring but slower than projected
The economy grew 6.5% in the second quarter as more Americans were vaccinated and states lifted restrictions. But the gain was smaller than projected.
Fed says economy ‘has made progress’ toward goals in step toward cutting bond-buying stimulus but Powell said labor market has “ways to go”
The Fed held Its key interest rate near zero and said economy “has made progress” in sign it may soon start tapering its bond buying stimulus.
‘I quit’: Workers change jobs at a record pace amid burnout, new openings with higher pay
Workers are quitting jobs at a historic pace, typically to take higher-paying positions or fulfill passions.
First-time jobless claims, a gauge of layoffs, unexpectedly rose to 419,000 from pandemic low as COVID-19 cases ticked higher
First-time applications for unemployment benefits unexpectedly rose to 419,000 from a pandemic low as COVID-19 cases ticked up
Recession caused by COVID-19 lasted two months, the shortest downturn on record
The COVID-19-fueled recession began in March 2020 and ended in April 2020, making it the shortest downturn on record.
Where’s my sofa? A foam shortage is leading to delays and higher prices on furniture, RVs, more
A foam shortage sparked by the February storm in Texas is still causing delivery delays, higher prices for sofas, boats, RVs, refrigerators, more
Powell: Progress toward full employment, 2% inflation is “still a ways off,” hinting Fed may not be on verge of cutting bond-buying stimulus
Fed chair Jerome Powell will tell Congress that “substantial further progress” toward Fed’s employment and inflation goals “is still a ways off”
Is the economy’s big comeback starting to fade?
Rising prices, shortages of supplies and the COVID delta variant could slow the economy’s big rebound more than economists first thought.
The economy needs millions of workers. So why can’t college grads find jobs?
Graduates in the class of 2021 are competing with 2020 grads who delayed job searches during COVID-19 and Americans laid off in the health crisis.