All Posts Tagged: unemployment

Bye Bye Supplemental Unemployment Benefits

Scott Anderson
Chief Economist

We received more confirmation this week that consumer spending bounced back strongly from its April lows. The $1,200 checks that were sent by the Federal Government to individuals certainly helped create the conditions for this reopening spending revival, but I would argue that expanded and supplemented unemployment insurance benefits have been much more targeted and effective in maintaining spending among the most vulnerable households.

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Dark Clouds Forming on the Horizon

Scott Anderson
Chief Economist

Like a mid-summer thunderstorm approaching from the West, dark clouds are beginning to build on our economic and financial horizon yet again.

It’s still too early to know whether we will be hit by an imminent downpour or not. A last minute economic rescue package in the $1 to $2 trillion dollar range from Congress before the end of July could help keep the storm clouds at bay until the end of the year, but the increasing virus case count is already doing some material damage to the pace of the economic recovery in my opinion.

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Reopening Brings Back Millions of Jobs

Scott Anderson
Chief Economist

The June employment report came in on the hot side, beating most economists’ forecasts. The U.S. economy added another 4.8 million jobs in June on top of an upwardly revised 2.699 million jobs created in May. The better than expected job gains were likely driven by the reopening of big states like California that didn’t really begin opening up until late May and early June. 

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Another Good Week for U.S. Economic Data

Scott Anderson
Chief Economist

As we noted in last week’s Outlook report, the United States is seeing a solid rebound in economic indicators from the April lows that for the most part have exceeded economists’ expectations.

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