{"id":57961,"date":"2020-07-16T20:21:29","date_gmt":"2020-07-16T20:21:29","guid":{"rendered":"https:\/\/virusreports.net\/second-stimulus-checks-u-s-jobless-claims-and-retail-sales-explain-the-need-for-another-stimulus-round\/"},"modified":"2020-07-16T20:21:29","modified_gmt":"2020-07-16T20:21:29","slug":"second-stimulus-checks-u-s-jobless-claims-and-retail-sales-explain-the-need-for-another-stimulus-round","status":"publish","type":"post","link":"https:\/\/virusreports.net\/second-stimulus-checks-u-s-jobless-claims-and-retail-sales-explain-the-need-for-another-stimulus-round\/","title":{"rendered":"Second Stimulus Checks? U.S. Jobless Claims And Retail Sales Explain The Need For Another Stimulus Round"},"content":{"rendered":"
\n

The U.S. economy needs another new stimulus package because the U.S. Jobless claims and, U.S. retail sales confirm the economy is stalling.<\/a> Democrats, Republicans, and the Trump administration need to pay attention to the IMF warning about soaring U.S. bankruptcies.\u00a0<\/p>\n

\u00a0Here is more on this:\u00a0<\/p>\n

\n

\"Benjamin<\/img>\n <\/p>

\n <\/p>\n

Benjamin Franklin With Worried and Concerned Expression Wearing Medical Face Mask On One Hundred … [+]<\/span> Dollar Bill.<\/span><\/p>\n

<\/fbs-accordion>
\n Getty<\/small>
\n <\/figcaption><\/figure>\n

Stimulus Facts\u00a0<\/strong><\/h2>\n

Stimulus And Bankruptcies<\/strong><\/h3>\n

As I mentioned before<\/a>, the number of corporations that are filling bankruptcies in the U.S. is soaring. Today, the IMF has warned that small and mid-sized business bankruptcies are likely to triple if the U.S. government does not provide support it. This really highlights the importance of the upcoming stimulus bill.\u00a0<\/p>\n

U<\/strong>.S<\/strong>. Retail Sales Data\u00a0<\/strong><\/h3>\n

The U.S. retail sales data <\/a>has confirmed that the U.S. economy has stalled, and it needs additional stimulus. The July\u00a0U<\/a>.S<\/a>. retail sales m\/m<\/a>\u00a0number came in at 7.3% growth against the previous reading of 18.2%. Last month, in June, we experienced a massive improvement in this number, and that was because Americans were optimistic about the re-opening of the economy. Also, some had the money from stimulus checks that were sent out to them by the US government. But now they\u2019re running out of this fund, and the current job protection program is about to expire as well. The current retail sales number is beat drumming the drumbeat loud and clear: the U.S. economy needs stimulus help.<\/p>\n

<\/fbs-ad> <\/p>\n

The U.S. retail sales data has confirmed that the U.S. economy isn\u2019t experiencing the kind of recovery that was anticipated. The U.S. has seen a surge in coronavirus cases since it re-opened its economy<\/a>, and the impact of the current stimulus package is wearing off.\u00a0<\/p>\n

Stimulus Checks: U<\/strong>.S<\/strong>. Jobless Claims\u00a0<\/strong><\/h3>\n

Congress needs to give the green light for more stimulus support for the U.S. economy. Today\u2019s U.S. jobless claims data doesn\u2019t have much good news for the U.S. economy. The U.S. initial jobless claims came in at 1.3 million against the forecast of 1.25 million. There was some silver lining in the continuing jobless claims data as it was better than the forecast and the previous reading. Actual came in at 18.06 million, forecast 17.338 million, and previous 18.06 million.\u00a0<\/p>\n

The improvement in the continuing jobless claims data means that Americans may not get as generous stimulus checks, if any. The critical element is that both the initial and continuing jobless claims number do not support the argument that businesses are hiring workers at a pace that could bring unemployment down to its previous level anytime soon. This keeps the hopes alive for stimulus checks.\u00a0<\/p>\n

Basically, U.S. consumers do not have the same confidence that they had pre-Covid-19. They need help, and this help\u2014for the time being\u2014could be through an appropriate stimulus package. The possibility of them getting back in the job market isn\u2019t that great, and the current job protection measures\u2014-which sent additional unemployment checks to Americans\u2014are about to expire at the end of this month, which is making them more nervous.\u00a0<\/p>\n

Stimulus Background\u00a0<\/strong><\/h2>\n

The next stimulus draft is expected to be in front of Congress next week from Senate Majority Leader Mitch McConnell. The new stimulus package is likely to include demands from both Republicans and Democrats. Also, the new stimulus proposal will need bipartisan support. So far, Donald Trump has thrown his support behind a new stimulus proposal.<\/p>\n

Stimulus Rumors\u00a0<\/h2>\n

There are also rumors that the next stimulus proposal, which is likely to have stimulus checks for Americans, isn\u2019t going to be the last one for this year. It is likely that we may see another stimulus package near the U.S. elections. Such a stimulus package could have an impact on the outcome of the elections.\u00a0<\/p>\n

Some form of stimulus check or direct payment is likely in the upcoming stimulus bill. The eligibility criteria, how many people will qualify for a second stimulus check, and the size of the second stimulus check are the questions that have been going around since the first round of stimulus checks.\u00a0<\/p>\n

Bottom Line\u00a0<\/strong><\/h2>\n

The fate of more stimulus checks and what will be included in the stimulus proposal will be decided in the coming weeks. By looking at economic data and how the U.S. economy is stalling, it seems that Americans and U.S. corporations are likely to get more help in the next stimulus bill.<\/p>\n<\/div>\n

Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. economy needs another new stimulus package because the U.S. Jobless claims and, U.S. retail sales confirm the economy is stalling. Democrats, Republicans, and the Trump administration need to pay attention to the IMF warning about soaring U.S. bankruptcies.\u00a0 \u00a0Here is more on this:\u00a0 Benjamin Franklin With Worried and Concerned Expression Wearing Medical Face…<\/p>\n","protected":false},"author":1,"featured_media":57962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[658,109],"class_list":{"0":"post-57961","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-second","9":"tag-stimulus"},"yoast_head":"\nSecond Stimulus Checks? 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