CNBC: Nearly half the U.S. population is without a job, showing how far the labor recovery has to go
* The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless.
* As the coronavirus-induced shutdown tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.
* “To get the employment-to-population ratio back to where it was at its peak in 2000 we need to create 30 million jobs,” said Torsten Slok, Deutsche Bank’s chief economist.
* Investors will look to this week’s June jobs report for an update on the pace of the labor market recovery.
Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.
The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.
Read more ....
MIDDLE EAST
Syria faces mass starvation or mass exodus without more aid, WFP says.
Iraq frees pro-Iran fighters held over rocket fire.
Coalition denies Iraqi militia’s claim that it caused C-130 crash in Iraq.
Iran reports record 162 COVID-19 single-day death toll.
Iran issues arrest warrant for Trump over drone strike that killed Qasem Soleimani.
Interpol says it can't act on Iran's request to arrest Trump for ordering the k.illing of General Soleimani.
Iran's currency plummets to lowest level against the US dollar.
Netanyahu’s annexation plan threatens Palestinian, Israeli economies already struggling after Covid-19.
Netanyahu’s annexation plan in disarray as Gantz calls for delay.
Lebanon top finance official resigns citing bad crisis management.
ASIA
U.S. begins to pare back Hong Kong's special status.
Civilians killed in rocket attack on Afghanistan cattle market.
China-India border rift simmers with reports of troop moves on both sides.
India bans dozens of Chinese apps including TikTok.
Coronavirus: India reports nearly 20,000 cases a day as it struggles to contain pandemic .
Pakistan: Several dead after gunmen attack stock exchange.
Hong Kong: 'Silent protest' march targets national security law.
Chinese state media accuses Australia of spying campaign, says agents were arrested in 2018.
Locusts overtake India's capital region.
More than a million hit by India monsoon floods.
AFRICA
IMF warns pandemic set to undo decade of progress in Africa.
Congo president vows not to accept judicial reforms that cause 'harm'.
Islamist militants abduct four aid workers in north-east Nigeria.
Libya: Haftar's forces mobilise mercenaries for Sirte battle.
Talks may lead to end of blockade of Libyan oilfields.
'It's my dam': Ethiopians unite around Nile River mega-project.
Ethiopia to begin filling Nile dam in 2 weeks.
Malawi opposition leader sworn in as president after repeat vote.
Somalia to delay elections by 13 months, says official.
Nigeria wants cancellation of African artifacts auction in Paris.
EUROPE
Kosovo president says he will resign if case goes ahead.
Coronavirus: EU to allow in visitors from 14 'safe' countries.
Macron and Merkel push Covid-19 recovery fund as Germany takes on EU presidency.
Irish Parliament elects Michael Martin as new prime minister.
Polish President Duda faces tough run-off vote July 12, according to exit polls.
The US Navy's top admiral in Europe says China is copying Russia's interference playbook there.
US says Putin seeking to stay in power for life.
Russia denies being behind a mysterious radiation leak making its way across Scandinavia.
Ukraine declassifies secret Soviet documents on Chernobyl explosion.
Low voter turnout in French local elections tells a tale of disillusionment.
AMERICAS
Facing criticism, White House to brief Democrats on reports Russia paid Taliban to kill U.S. troops.
White House says no intel consensus on Russia bounties.
Supreme Court strikes down Louisiana abortion restrictions.
US Supreme Court declines to take up federal inmates' execution appeal.
Trump pushes back on Biden criticism: 'Russia ate his and Obama's lunch'.
Protests target Bolsonaro after Brazil's worst coronavirus week.
Coronavirus worsens Cuba's economic woes.
Mexico launches raids after assassination attempt of police chief.
Argentina and Brazil crops threatened by locust swarm.
Canada over worst of coronavirus outbreak, U.S. spike a cause for concern: Trudeau.
Pandemic leads to rise in Canada fatal drug overdoses.
Nova Scotia gunman was paranoid survivalist – but not informer, say police.
TERRORISM/THE LONG WAR
Washington raises bounty on Daesh leader Mawla to $10 million amid reports of his death.
Pakistan a ‘safe haven’ for ‘terror groups’: U.S. State Department.
India seeks extradition of Mumbai attacks suspected mastermind Sajid Mir.
ECONOMY/FINANCE/BUSINESS
Wall Street stocks claw back a chunk of last week’s losses.
Coronavirus: UK hardest hit by virus among leading G7 nations.
US to join summit on global green recovery from Covid-19 crisis.
Cirque du Soleil files for bankruptcy protection, terminates 3,500.
Isn't it curious how just weeks after the Wuhan virus hit the USA you have BLM protests? Sure, sure the cop killed a black man and it was horrific to watch.
ReplyDeleteBUT
The biggest benefactor of not talking about the Wuhan virus is China
The biggest benefactor of Americans turning on each other than turning on China and asking for trillions in damages...is China
Instead of asking for reparations from an incident that happened in an election year, almost to the day when phase1 of the trade deal started. .instead of asking for trillions in damage reparations for something that is going on right now, Americans go to the streets and year down American status and ask for slavery reparations? Collective guilt? End of due process? End of anything that is American.
Truly, China benefits by the trillions now.
Go tear down more statues you idiots because CNN/NYtimes tell you it's cool. You morons. Guess who finances all that.
Stupidest conspiracy theory yet. Sure sure a cop kill a black man but .... cnn/nytimes (media’s fault). Still can’t blame the real people in charge, got to make shit up.
DeleteWhat are the odds for a pandemic to hit the USA just at the beginning of an election year?
ReplyDeleteAlso VERY convenient that the phase1 trade deal with the USA that started that very week had a pandemic clause in it favoring China
I'm sure Xi was also just confused when he didn't tell the world for 51 days about that Wuhan virus
But CNN told us all not to call it Wuhan virus or we are racist
And don't complain about thugs beating up people, shooting cops and inciting a war. Otherwise you are ..you guessed it. .racist
How come criticising China or a terror organisation like BLM makes you racist and how come BLM has Maoist motives and tactics?
Such coincidence. But the above commentator @921 made such a convincing, totally not ad hominem comment. Such respect. Such deep thought lol
Go be played by China you fool.
Exactly haha that guy probably also thinks the trillions stolen and extorted by China is a myth. Probably those Fox news guys. Better believe CNN. They always got it right lol
ReplyDeleteWhat a moron