Unemployment claims are worse than expected while the Senate failed to move forward with a coronavirus-relief stimulus package. Here's how the headlines could affect your money.
Last week, 884,000 Americans submitted first-time filings for unemployment, the Department of Labor revealed Thursday. That's worse than the 850,000 economists expected and equal to claims in the prior week.
Worth noting: The DOL recently changed its methodology for seasonal adjustments in its numbers, meaning totals from the past two weeks can't be directly compared to those from earlier in the pandemic.
The Senate voted on a new stimulus bill Thursday afternoon but failed to garner enough support to move the proposal forward.
Senate Republicans had pitched a "skinny" bill that would include up to $500 billion in new aid designed to help small businesses and extend the $300-per-week in enhanced unemployment benefits. The proposal did not include a second round of stimulus $1,200 checks.
Video by Stephen Parkhurst
Apple's famed product reveal is set for Tuesday, but due to the pandemic, the tech giant will stream the event from its Apple Park headquarters in California instead of having an in-person event. Experts expect the new lineup will include new Apple Watches and iPads.
If you're in the market for new tech, now may be a good time to secure a trade-in value for your old gear before it starts to drop.
When it comes to unemployment data, a seasonal adjustment means figures are evened out to account for statistical swings related to seasonal events and conditions. To get a better sense of how the economy is doing, analysts may not count in the overall job loss data the number of Americans who filed for unemployment after wrapping up a temporary holiday gig or summer job.
Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.
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