What caught my eye this week: Deep recession in India, the U.S. unemployment rate falls to 8.4 percent, and much more…

The U.S. unemployment rate falls to 8.4 percent:

https://www.bls.gov/news.release/empsit.nr0.htm

Economics and Poverty (by Martin Ravallion): a great resource to study this issue and the data:

https://economicsandpoverty.com/

The Stone Center on Socio-Economic Inequality. Great research, teaching, and data:

https://stonecenter.gc.cuny.edu/

The Congressional Budget Office currently expects a deficit of 16 percent of GDP this year:

https://www.cbo.gov/publication/56517

US-China phase one tracker: China’s purchases of U.S. goods. What is the future of this trade deal?:

https://www.piie.com/research/piie-charts/us-china-phase-one-tracker-chinas-purchases-us-goods

According to the so-called “Beige Book” of the Fed, economic activity in the United States is recovering, but remains well below pre-pandemic levels:

https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm

GDP in India contracted at a rate of 23.9 percent:

https://www.reuters.com/article/india-economy-gdp-views/instant-view-indias-economy-shrinks-record-23-9-y-y-in-june-quarter-idUSL4N2FX38H

How did U.S. households use the stimulus payments?

https://www.bls.gov/opub/btn/volume-9/mobile/receipt-and-use-of-stimulus-payments-in-the-time-of-the-covid-19-pandemic.htm

“Unpredictable work hours and volatile incomes are long-term risks for American workers”. Interesting!

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