U.S. Economic News
August 6, 2020
U.S. Economic Indicators
Initial jobless claims fell 249,000 to 1,186,000 last week. The four-week moving average fell 31,000 to 1,337,750. DOL Report
U.S. News
The Wall Street Journal reports that bankruptcy filings by U.S. farmers through June 2020 were up 8% from a year earlier, despite record levels of federal aid. The coronavirus pandemic hit on top of an ongoing six-year downturn in the Farm Belt, further depressing agricultural prices already under pressure from foreign competition and retaliatory trade actions. WSJ
Bloomberg reports that House lawmakers and the White House are still far from an agreement on a new coronavirus relief package ahead of a self-imposed Friday deadline. White House officials have indicated that the President is prepared to use executive authority to extend certain relief measures, including student loan forbearance, eviction moratoria, and supplemental unemployment benefits if an agreement cannot be reached. Bloomberg