States with Republican governors are leading the U.S. economic recovery from the coronavirus pandemic, while those run by Democrats – which tended to impose lengthier and stricter lockdowns on businesses – are faced with significantly higher unemployment rates.
in passing a massive $3.5 trillion budget reconciliation package. During a press conference on Wednesday, Senate Minority Leader Mitch McConnell (R-Ky.) argued the proposal isn’t in the best interests of the American people or the economy.
China’s economy grew slightly slower than expected in the second quarter, weighed down by higher raw materials costs and new COVID-19 outbreaks. Expectations build that policymakers may have to do more to support the recovery.
The number of Americans filing new claims for unemployment benefits fell more than expected last week, while layoffs plunged to a 21-year low in June, suggesting the labor market recovery from the COVID-19 pandemic was gaining traction.