5 October 2020

1) Economic watchers were disappointed with the job reports for last month, with just 661,000 jobs added and the unemployment rate down to 7.9% from 8.4% in August. But this is because the labor force shrank by about 700,000. The job report is the last before the November elections and it shows a slowing recovery, thereby raising the specter of a gap that could take several years to close. The Nation has recovered a little over half the 22.1 million jobs lost at the start of the virus crisis. The job numbers fell short of the economic forecast of 850,000 new jobs and was the first month since April with a net job growth dropping below 1 million. September is the seventh month of the pandemic and the resulting crisis in American labor.
2) Some good news for California and its plague of wild fires- two of the largest fires are now fully contained. But still, several others threaten life and property, with weather forecast into next week not providing much hope from the threat of fires. The heat is expected to continue in Southern California with strong winds and dry conditions making for elevated fire conditions. The two, now contained wild fires, have burned for more than six weeks charring an area about the size of Rhode Island. Mega fires have become the norm in California with today 10 fires that are 100,000 acres plus in size and one that is over 850,000 acres. Northen California, with its wine country, continues to struggle with large fires, with the Glass Fire in Napa County being only about 5% contained and the Zogg Fire in Shasta County at 26% contained. All of California is fighting 24 major fires burning in California.
3) There is growing evidence that nearly 4 million American jobs have vanished forever because of the pandemic. This means that many initially lost jobs, which were hoped to be furloughs or temporary job losses, are becoming permanent as businesses shut down and cut costs. Technology displacement plays a major part in permanently shedding jobs by allowing combining job functions or outright replacement of people with machines. Each week, more companies announce thousands of layoffs as they struggle to survive in an ever changing business world and hostile economic environment. Those able to integrate technology and AI (Artificial Intelligence) into their operations are the ones most likely to survive, and that translates into permanently lost jobs.
4) Stock market closings for – 2 OCT 20:
Dow 27,682.81 down 134.09
Nasdaq 11,075.02 down 251.49
S&P 500 3,348.44 down 32.36
10 Year Yield: up at 0.70%
Oil: down at $37.01

HAPPY VETERANS DAY TO ALL OUR SERVICE MEN & SERVICE WOMAN!!!!!!!!!!!!!!!

Happy Veteran’s Day to our troops and to those who have served; and whom continue to serve for our freedom, rights, liberties, and our pursuit of happiness, here in the USA & around the globe. Thank you dearly and salute….

-May God Continue To Bless The United States of America. -SB

HAPPY MEMORIAL DAY TO THOSE WHO RISK & RISKED THEIR LIVES 4 US…ALL (USA)

By: Economic & Finance Report

Special day in the United States. Memorial Day is a day of rememberence, recognition and reflection, for those who have sacrificed and who continue to sacrifice their service and lives for our country’s sovereignty, liberty, and unconditional freedoms…

I salute and commend our servicemen and servicewomen, who tend to the challenges daily, that face this great nation….

*Salute & God’s Many Blessings*… Happy Memorial Day -SB

ONE YEAR ANNIVERSARY FOR OUR WEBSITE BLOG…..AND COUNTING (Est. DEC. 11, 2014)

one year and counting

By:  Economic & Finance Report

EconomicandFinanceReport.com,  hit an important milestone this past friday, we hit our 1 year anniversary…. (Dec 11, 2014). This is very important because most websites or blogs that people start are not consistent or don’t last long at all, they have a short life span.

As we progress as an international online media publication our focus is to continue to achieve successes as it relates to the economy, finance, business, job employment, corporate governance, real estate, investments etc etc and other economical and financial subjects. We will continue to brand ourselves as leaders of the new school, when it comes to the new economy and new finances (business and personal), but while still keeping our brand and founding elements in tact….

Congrats to this website and let us progress as we continue another year of goals and objectives….Our Mantra “Show The Light And The People Shall Follow, To Find The Way. The Will Of The People” -SB