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American Net Worth See Record Increase in Q2 2020

Amid all of the uncertainty and lockdowns that the past few months have brought, it seems that the overall value of Americans' portfolios and homes has soared. As Axios reports, new data from the Federal Reserve shows that U.S. household net worth reached $119 trillion during the second quarter of...

U.S. Initial Unemployment Claims Amounted to 860,000 Last Week

This morning, the United States Department of Labor released the latest unemployment insurance filing numbers showing that 860,000 workers applied for new benefits last week. The figure is down from an adjusted 893,000 the week prior and is a fraction of the near-record 6.6 million claims filed at the height...

United States Economy Brought Back Only 1.4 Million Jobs in August

Last month, more Americans headed back to work as the United States continued reopening efforts. According to the latest report from the Bureau of Labor Statistics, nonfarm payrolls increase by 1.4 million in August. In turn, the unemployment rate fell from 10.4% to 8.4%. Unfortunately, despite the latest gains, the...

Mastercard Partnering with Multiple Brands to Pilot Cashierless Retail Concepts

In recent months, as the COVID-19 pandemic has changed everyday life for citizens around the globe, some technologies have begun playing a more prominent role in our society. Beyond video chat services becoming the new schools/workplaces and menus via QR code replacing their paper counterparts in some places, contactless payments...

Labor Department Report Shows States with Highest, Lowest Unemployment

Throughout the current pandemic, it's been clear that some areas of the nation have been harder hit than others. This is not only true in terms of coronavirus cases and deaths but also for economic conditions. With that in mind, let's take a look at this morning's Bureau of Labor...

Household Debt in the U.S. Dips For the First Time in Six Years

Those looking for a silver lining to the current pandemic may have found one in a new report. According to the Federal Reserve Bank of New York, total household debt — which includes both housing and non-housing debt — came in at $14.27 trillion for the second quarter of the year....

United States Economy Contracts 32.9% in Q2

As Congress continues to debate potential next steps for financial relief amid the coronavirus pandemic, new figures are showing the economic impacts of the disease. This morning, the Bureau of Economic Analysis reported that the United States’ gross domestic product declined by 32.9% during the second quarter of 2020. That...