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Bitcoin Goes from 'Trendy to Tacky' in Just Three Months, Analyst Says

Bitcoin Goes from Trendy to Tacky in Just Three Months, Analyst Says
On 5/20/21 at 1:59 PM EDT
The late mogul s insight into the rag trade may also apply to Bitcoin.
It took Bitcoin a mere three months to go from trendy to tacky, said economist Dr. Marion Laboure, a researcher at Deutsche Bank.
Deustche Bank
Just as a fashion faux pas can happen suddenly, we just received the proof that digital currencies can also quickly become passé, Dr. Marion Laboure, an analyst at Deutsche Bank in London, said in a research report. It took Bitcoin a mere three months to go from trendy to tacky. ....

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GOP governors move to cut unemployment benefits as debate rages over effects

GOP governors move to cut unemployment benefits as debate rages over effects
Niv Elis
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GOP governors move to cut unemployment benefits as debate rages over effects
Seven GOP governors in the past week have announced plans to cut emergency unemployment benefits, a bid to push people into work that critics say would also cut off vital support for hundreds of thousands of people.
The issue is a high stakes gamble that Republicans say will hasten the economic recovery and save taxpayer dollars, but Democrats worry will pull the rug out from under low-income families and make it harder to get the economy back on track. ....

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Bidenomics Working? U.S. Jobless Claims Drops to New Pandemic Low.

Bidenomics Working? U.S. Jobless Claims Drops to New Pandemic Low.
The number of Americans filing for initial jobless aid dropped to a crisp pandemic low last week as the country continues to recover from the economic crisis fueled by the coronavirus pandemic.
The number of Americans filing for initial jobless aid dropped to a crisp pandemic low last week as the country continues to recover from the economic crisis fueled by the coronavirus pandemic.
About 473,000 workers filed for unemployment benefits last week, the Labor Department reported on Thursday. That’s a five percent decrease from one week earlier and the lowest that weekly claims have hit since March 2020. ....

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Jobless claims drop to pandemic-low 473,000

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Initial jobless claims for the first week of May set a new pandemic low of 473,000, according to Labor Department data released Thursday.
Seasonally adjusted claims dropped 34,000 from the previous week s revised figure, which was adjusted up to 507,000 from 498,000.
The figures are a balm after an unexpectedly poor showing in the April jobs report, which was released last Friday. That report showed just a quarter of the expected new jobs created and a slight uptick in the unemployment rate.
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The April jobs data put the Biden administration on the defensive and spurred calls from Republicans to scale back emergency unemployment benefits they say are incentivizing people to stay out of work. ....

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Centre refutes CMIE's 8% unemployment rate claim - The Hindu BusinessLine

Centre refutes CMIE s 8% unemployment rate claim
May 07, 2021
B.LINE: Migrant workers and families wait for transport to go to their hometowns in Uttar Pradesh and Bihar, if non- availability of transport. ,Â in New Delhi on 16.5.20.Pic:Kamal NarangÂ - Businessline
B.LINE: Migrant workers and families wait for transport to go to their hometowns in Uttar Pradesh and Bihar, if non- availability of transport. ,Â in New Delhi on 16.5.20.Pic:Kamal NarangÂ - Businessline×
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Says Labour Bureau conducting surveys
The Centre has questioned the unemployment data put out by the Centre for Monitoring Indian Economy (CMIE) data and said that the Labour Bureau is conducting a survey to assess the situation. But experts and trade unions, worried over the figures, have demanded intervention by governments. ....

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