Fed’s Barkin says recent labor market improvements will slow By Reuters

China's efforts to resolve financial risks slowed by virus

(Reuters) – While the U.S. economy may avoid a second widespread shutdown, the labor market and other aspects of the economy may not fully recover until there is a vaccine or other treatment that helps Americans feel safe spending and engaging in more activity, Richmond Federal Reserve President Tom Barkin said on Tuesday.

Many small businesses are reducing staff to adjust to lower demand, and the level of people filing for jobless claims for the first time each week remains elevated six months after the shutdown, Barkin said during a webcast conversation organized by the Rotary Club of Greenville.

“If this rate of initial claims continues, you have to imagine the recent improvements in the labor market are going to slow,” Barkin said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.