Economy - The New American

U.S. Economy Continues Recovery; Retail Sales Back to Normal

The U.S. economy is rebounding, with sales back to pre-pandemic levels. It’s definitely a V-shaped recovery. ...

Bob Adelmann August 23, 2020

Stocks Hit New Highs on Tuesday, Marking Third-fastest Recovery Since 1929

Bob Adelmann August 19, 2020

Two of the three major market indexes closed at record highs on Tuesday, marking the end of the bear market and making it...

ADP’s Disappointing July Jobs Report Offset by June’s Upward Revision

Bob Adelmann August 5, 2020

ADP’s National Employment Report was a massive miss. The miss, however, is likely to be offset when the Department of Labor reports on...

U.S. Exports Jump 14 Percent in June, Adding to GDP & Reflecting Economic Recovery

Bob Adelmann July 29, 2020

Exports of goods from the United States jumped from $90 billion in May to more than $102 billion in June, an eye-popping 14-percent...

Economy Rebounding; Stocks Setting Records

Bob Adelmann July 27, 2020

One reason for the extraordinary performance of the U.S. economy following the COVID-inspired shutdown is that Wall Street is increasingly persuaded that Trump...

Existing-home Sales Set Record in June, Reflecting Booming Housing Market

Bob Adelmann July 23, 2020

Existing-home sales rose nearly 21 percent in June, and the rebound is likely to continue. ...

Riding the COVID Wave, Non-citizen Flippy, at $3 an Hour, to Replace White Castle Workers

Selwyn Duke July 17, 2020

Well, Flippy finally has a new job. It was March when I reported on the burger-flipping kitchen worker, who does his job dutifully,...

Homebuilders’ Housing Market Index Surge Shows Recovery More Than Just Homes

Bob Adelmann July 16, 2020

The recovery in housing is much more than just a recovery in housing. ...

COVID Lockdown Lunacy: Evictions and Homelessness Now Set for Dramatic Increase

Dennis Behreandt July 13, 2020

As millions of Americans lost their jobs and their income dried up, they stopped making payments on rent and home mortgages. Now, millions...

Wholesale Prices Drop in June; Economists Confounded

Bob Adelmann July 10, 2020

The Bureau of Labor Statistics announced on Friday that wholesale prices dropped by 0.2 percent in June. Economists were expecting an increase of...

Jobless Claims Broach 50M Since March 1. Almost 20M Jobless.

R. Cort Kirkwood July 3, 2020

Unemployment claims filed during the week ending June 27 dipped 3.7 percent from the previous week, but 13.2 percent of Americans were still...

Jobs Report Shows Nearly Five Million Jobs Added in June

Bob Adelmann July 2, 2020

The U.S. recovery is well underway, and ahead of most economists' expectations. ...

Dow and Employment Jump in May and June, Confirming Economy’s Rebound

Bob Adelmann July 1, 2020

Wall Street celebrated its best quarter since 1987, with the Dow gaining 17 percent from April through June, and private-sector employment increased by...