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US Stimulus Fuels Sharp Rebound In Income, Spending In March 04/30/21 AT 9:40 AM Americans saw a big recovery in earnings last month, boosted by a new round of government aid that quickly found its way to retailers, according to government data released on Friday. Personal income surged 21.1 percent in March after falling seven percent in the prior month, "impacted by the continued government response to COVID-19," the Commerce Department said. The $1.9 trillion American Rescue Plan relief measure enacted last month included $1,400 cash payments to most taxpayers while also expanding unemploy...

Thursday, 29 Apr 2021 11:36 PM MYT People wearing protective masks are seen in Times Square during the outbreak of the coronavirus disease (Covid-19) in the Manhattan borough of New York March 25, 2021. — Reuters pic Follow us on Instagram and subscribe to our Telegram channel for the latest updates. WASHINGTON, April 29 — The US recovery from the destruction inflicted by Covid-19 is accelerating amid widespread vaccinations and massive government stimulus, with data released today showing another jump in growth and further signs lost jobs are being restored. Robust consumer spending and ...

US Recovery Accelerates As Growth, Hiring Rebound By Heather Scott and Chris Stein 04/29/21 AT 11:18 AM The US recovery from the destruction inflicted by Covid-19 is accelerating amid widespread vaccinations and massive government stimulus, with data released on Thursday showing another jump in growth and further signs lost jobs are being restored. Robust consumer spending and a flood of federal money helped boost annualized GDP growth in the first quarter to 6.4 percent, the Commerce Department said. And last week, new applications for unemployment benefits saw their third straight weekl...

The risks of going too big on the economy are real, as Summers warns in a Washington Post op-ed — but the White House argues going too small could be riskier.

U.S. Labor Nonfarm Payrolls Down 140K in December The U.S. shed 140,000 jobs in December as a resurgence of the coronavirus ended seven months of job growth and weakened the recovery. Restaurants and bars drove the decline by cutting 372,000 jobs last month, the Labor Department said Friday. The broader category of hospitality and leisure industries — which adds hotels, museums, tourist sites — also saw losses, while schools and governments cut jobs as the pandemic triggered new restrictions on activity. Jobs gains in most other industries weren’t enough to offset the sharp decline in a...