U.S. labor market recovery stalling; second wave of layoffs underway

U.S. labor market recovery stalling; second wave of layoffs underway
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. The Labor Department’s weekly jobless claims report... Read More

U.S. retail foot traffic rebounds, more staff at work, as lockdowns ease

U.S. retail foot traffic rebounds, more staff at work, as lockdowns ease
(Reuters) – Retail foot traffic recovered to approach pre-lockdown levels last week and businesses appeared to bring more employees back to the job, according to data from firms that collect cellphone location information and manage employee time for companies. FILE PHOTO: Shoppers enter a grocery store near a sign requesting social distancing, following reports of coronavirus disease (COVID-19) cases in... Read More

U.S. weekly jobless claims remain high as second wave of layoffs hits industries

U.S. weekly jobless claims remain high as second wave of layoffs hits industries
Hundreds of people line up outside the Kentucky Career Center, over two hours prior to its opening, to find assistance with their unemployment claims, in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that... Read More

Kroger expects to top 2020 outlook, beats estimates for profit, sales

Kroger expects to top 2020 outlook, beats estimates for profit, sales
FILE PHOTO: Customers browse grocery store shelves inside Kroger Co.’s Ralphs supermarket amid fears of the global growth of coronavirus cases, in Los Angeles, California, U.S. March 15, 2020. REUTERS/Patrick T. Fallon/File Photo (Reuters) – Kroger Co (KR.N) said it expects to exceed its 2020 outlook for same-store sales and profit after beating Wall Street expectations for quarterly results on... Read More

Amazon to hire 3,000 people in South Africa for customer service roles

Amazon to hire 3,000 people in South Africa for customer service roles
FILE PHOTO – A view of the Amazon logistic center with the company’s logo in Dortmund, Germany November 14, 2017. REUTERS/Thilo Schmuelgen/File Picture JOHANNESBURG (Reuters) – Amazon.com Inc (AMZN.O) is hiring 3,000 people in South Africa this year to provide support to customers in North America and Europe, it said on Thursday. The work from home roles will range from... Read More

Automakers rev up U.S. assembly lines, wary of outside risks to workers

Automakers rev up U.S. assembly lines, wary of outside risks to workers
DETROIT (Reuters) – Automakers are speeding up U.S. assembly lines to meet recovering demand, increasingly confident coronavirus safety protocols are working to prevent outbreaks in their plants but wary of the challenges workers face outside. FILE PHOTO: FCA assembly workers arrive for an early morning shift re-opening at the Warren Truck Assembly Plant, as the coronavirus disease (COVID-19) spread continues,... Read More

U.S. weekly jobless claims remain high, second wave of layoffs blamed

U.S. weekly jobless claims remain high, second wave of layoffs blamed
WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. People line up outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in... Read More

Unemployment payments backlog draws hundreds to Kentucky’s capital

Unemployment payments backlog draws hundreds to Kentucky’s capital
Rose Carter, of Lexington, waits in a line outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in Frankfort, Kentucky, U.S. June 17, 2020. REUTERS/Bryan Woolston FRANKFORT, Ky. (Reuters) – Hundreds of people who lost jobs during the coronavirus crisis but have been unable to get their unemployment insurance checks converged at the... Read More

Stocks gain on recovery hopes, dollar on safe-haven bid

Stocks gain on recovery hopes, dollar on safe-haven bid
NEW YORK (Reuters) – A gauge of global equities edged higher on Wednesday, adding to the prior day’s rally on economic and vaccine hopes, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt. Optimism over a quick economic recovery has been tempered by more global cases of the coronavirus, including an... Read More

Fed’s Powell beats drum for more government aid to bolster economy

Fed’s Powell beats drum for more government aid to bolster economy
(Reuters) – The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell presents the Monetary Policy Report to Senate Banking Committee... Read More