While we remain optimistic about the longer-term outlook, recent economic data suggests that the economy has lost momentum as virus cases have risen. We believe the near-term will remain challenging as the labor market remains under pressure and many regions have renewed business restrictions due to the virus. However, the passage of a new $900 […]
U.S. nonfarm payrolls declined by 140,000 in December. It was the first monthly decline in nonfarm payrolls since April of last year and came in well below expectations for a 50,000 gain. The monthly decline was led by the leisure and hospitality sector which experienced a 498,000 net decline in payrolls in December, along with […]
After several months of tense negotiations, Congress compromised on a $900 billion fiscal relief package, and President Trump signed the bill on Sunday. This latest relief package follows about $2.7 trillion approved earlier this year. The legislation provides funding for a variety of programs and includes another round of direct household payments, an extension of […]
