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For many Americans still waiting to receive their tax refund, it appears the wait could be far from over.
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President Joe Biden unveiled a major gun regulation and crime prevention plan Wednesday as cities around the country struggle with rising violent crime.
Amid the wave of violence nationwide, Biden released a plan for more gun control measures and called on local governments to hire more police officers, a departure in rhetoric from some in his party who have pressured local municipalities to "defund" or cut back on police.
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The number of people filing new unemployment claims spiked last week, the latest economic indicator that's troubling economists.
Data released by the Department of Labor Thursday showed that for the week ending June 12, unemployment claims hit 412,000, a jump of 37,000 from the previous week. That increase comes after several weeks of steadily declining claims.
Next week’s report will show whether the most recent data was an anomaly or if it may be a reversal of the previous trend.
The data comes after the White House touted a steady drop in jobless claims last week.
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The latest federal report suggests more troubles for the U.S. economy, even as experts hoped for a post-COVID economic surge.
The Bureau of Labor Statistics Thursday released new data showing a major spike in inflation, the largest since the financial crisis from over a decade ago.
The inflation report comes one day after the U.S. Department of Labor showed disappointing job creation for the month of May. The U.S economy added only 559,000 nonfarm jobs last month, short of 650,000 predicted by economists. Unemployment for the month was 5.8%.
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