The various stimulus packages being administered by governments to stimulate consumer demand, need to be tailored to the needs of each country and the economic distress being faced by citizens (“UK retail to lose further 5,000 jobs in blow to economy,” July 9, Gulf Today).
Millions are unemployed, public budgets are falling apart, the economy is struggling, and the COVID-19 epidemic is raging anew — and most of the $2.7 trillion floor Congress put beneath that misery will soon be gone.
The aerospace giant suffered a $2.4 billion second-quarter loss, reflecting the hit from much lower commercial plane deliveries as airlines suspend purchases due to falling consumer demand.
Global equity markets slipped and bond yields fell on Thursday as investors awaited an agreement on a US aid package to mitigate the fallout from the coronavirus crisis, with poor corporate earnings reports also weighing on European shares.
The US central bank rolled out a major policy change on Thursday that gives greater weight to its mission of maximising employment to benefit lower income families, while ratcheting back its emphasis on fighting inflation.
The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labour market as the government winds down its huge job-protection scheme.
Global diamond supply chains convulsed by the coronavirus pandemic and most workers in India’s diamond industry switched to other jobs. Miners seek new supply deals to boost margins and mines from Canada to Lesotho are still shuttered.
The International Labour Organisation, in a new look at the impact of the pandemic on jobs, says that work hours equivalent to 305 million full-time jobs have been lost due to the COVID-19 crisis.
US job growth slowed further in August as financial assistance from the government ran out, threatening the economy’s recovery from the COVID-19 recession.