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U.S. hits fiscal cliff with jobs, economic recovery in the balance

From reuters.com

The U.S. push to fire up its economy in the middle of a pandemic remained stalled last week with signs the lapse of emergency unemployment benefits and business grants may have begun taking a toll. Hiring at small businesses, shifts worked across a range of industries, credit card spending and even gasoline demand that typically grows through the summer remained flat and mired far below the levels a year ago. Initial filings for unemployment insurance did fall below 1 million for the first time since the March onset of the coronavirus-driven economic downturn, and the number of people continuing to collect benefits ... (full story)

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  • Category: Fundamental Analysis