Mike Robbins serves as chair of the Anchorage Economic Revitalization and Diversification Committee. (Wesley Early/Alaska Public Media) Anchorage Mayor Dave Bronson announced a new committee Wednesday to help guide economic recovery in the city. Anchorage’s economy has been in recession since around 2016, coinciding with the drop in the price of oil. The city was just
Tag: recovery
President Joe Biden cited Thursday’s unemployment numbers as a signal his administration is shepherding a “durable economic recovery” following the coronavirus pandemic. The Department of Labor announced earlier that day that the number of people filing new unemployment claims fell to 310,000, the lowest mark since the beginning of the pandemic. Claims spiked in late
Wall Street strategists mostly agree that the worse-than-expected August jobs report wasn’t just a mild setback for the COVID-19 economic recovery, it was a major setback that warrants closer attention by investors. “A major speed bump,” is how Bank of America economists summed up the report in a flash note to clients on Friday. “There
Fewer Detroiters are jobless following last year’s pandemic-induced downturn, but low wages remain an obstacle for workers, according to a University of Michigan forecast released Monday. Unemployment in the city is returning to pre-pandemic levels and it’s expected to decrease even further in the coming years as a bundle of blue-collar jobs come online. But wages remain a challenge.
General view inside the Pondok Indah shopping mall as the Indonesian capital reopens its shopping malls with a new policy requiring shoppers to show a coronavirus disease (COVID-19) vaccination certificate, in Jakarta, Indonesia, August 13, 2021. REUTERS/Ajeng Dinar Ulfiana Delta variant, slow vaccination catch much of region off-guard Asia q/q profit likely 1st fall in
The U.S. economic recovery from the COVID-19 pandemic has taken a bit of a breather as the Delta variant spreads and weighs on how consumers spend. “I would say what we have seen in monthly data — and even in real-time data — there is basically a stall in activity. We are certainly not contracting.