Economy
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Jobless claims slight increase last week, but numbers indicate layoffs are low
The initial claims are some of the lowest levels seen in the past year.
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Housing crisis becomes safety crisis when cops, firefighters can’t live in community they protect
Another concern related to police officers not being able to afford to live where they work is they cannot build trust with those whom they protect and serve through interacting in such everyday activities as community service.
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Fed nominee Warsh to back independence on interest rates
His nomination comes as Trump continues to criticize the Fed for its hesitance to lower rates, dubbing current Chairman Jerome Powell as "too late" Powell.
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U.S. GDP grew at record 33.1% annualized rate in third quarter, as economy roars back from COVID
Commerce Department reported Thursday that GDP grew in third quarter annualized rate of 33.1%, 7.4% from July to September
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Dow plummets 800 points Wednesday, as investors react to uptick in virus numbers
Broad indexes around the globe took losses on Wednesday
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Dow drops 300 points amid investor concerns about increasing COVID-19 cases
The S&P 500 dropped 1.1%, and the Nasdaq Composite dropped 0.5%.
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Weekly jobless numbers fall to their lowest level since March
The weekly number also was 100,000 less than economists expected.
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Weekly jobless claims remain under 1 million but slightly increase to 898,000, feds
U.S. economy still roughly 10.7 million jobs short of recovering all the 22 million jobs lost when the pandemic hit in March.
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Top White House economist says banks projecting decrease in losses is positive sign for economy
“We're very optimistic that the medicine will eventually catch up with the economy" – Joe Lavorgna, chief economist, White House National Economic Council.
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A tale of two COVID economies: Red state recovery, blue state recession
In red states (those voting Republican for president in all four of the last four elections), the combined unemployment rate stood at 6.6%. Among blue states (those that voted Democrat in all of the last four for presidential elections), the figure was 10.5%.
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White House to offer new $1.8 trillion coronavirus relief package to Democratic leadership
Treasury Secretary Steven Mnuchin is expected to present the offer to House Speaker Nancy Pelosi on Friday
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U.S. weekly jobless claims total 840,000
Labor market recovery is slowing during the final part of the year
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White House chief economist: Job growth 'way ahead of schedule'
"Forward-looking measures of activity point to a huge production gain this quarter that should last into next year," said Joe LaVorgna. "That's going to require a lot more physical bodies. And that's income that's created that then gets spent, which just multiplies through the economy."