
May Unemployment Data Show a Slight Improvement in the Labor Market
New data from the Bureau of Labor Statistics show that the labor market experienced an unexpected improvement in May.
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New data from the Bureau of Labor Statistics show that the labor market experienced an unexpected improvement in May.
So far, federal measures to support small businesses have amounted to $760 billion.
Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.
https://www.pgpf.org/blog/2020/05/how-the-coronavirus-has-affected-our-economic-outlook
COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.
U.S. defense spending increased substantially from 2018 to 2019 relative to other countries.
In response to the COVID-19 pandemic, elected leaders have asked the American people to stay at home and have forced businesses to close to mitigate the spread of the virus.
The decrease in GDP in the first quarter was driven by a decline in consumption and investment.
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
The official unemployment rate was 4.4 percent in March 2020, up from 3.5 percent in February. That increase was the largest of any month since January 1975.
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are at very low levels.