U.S. Economic News
May 7, 2020
U.S. Economic Indicators
Initial jobless claims fell 677,000 to 3,169,000 last week. The four-week moving average fell 861,500 to 4,173,500. DOL Report
Nonfarm business sector labor productivity decreased 2.5% in Q1 but rose 0.3% compared to a year ago. Hours worked decreased 3.8% and unit labor costs rose 4.8%. BLS Report
U.S. News
The Wall Street Journal reports that House Democrats are finalizing a new coronavirus relief package expected to include more than $750 billion in aid for state and local governments and another round of direct support for Americans. Lawmakers have indicated that the bill could be ready for a House vote as early as next week. WSJ