Economy

Your daily economics newsletter from The Wall Street Journal.

An increasing number of workers were unemployed for more than three months in July, a signal that the coronavirus pandemic is likely to have a lasting economic impact on many people.

Your daily economics newsletter from The Wall Street Journal.

China’s exports picked up momentum in July for the second straight month, as global demand recovered with the easing of coronavirus-related restrictions.

Filings for jobless benefits fell last week to their lowest level since March, a sign layoffs eased somewhat as the labor market tries to recover from the coronavirus pandemic.471

Your daily economics newsletter from The Wall Street Journal.

The Bank of England said the U.K. economy will take until the end of next year to make up the ground lost during the pandemic, after suffering what it estimates was the steepest quarterly fall in output among rich countries.

Many economists expect last week’s expiration of $600 in enhanced weekly unemployment benefits to lead to a sharp drop-off in household spending and a setback for the U.S. economy’s near-term recovery.216

U.S. exports and imports both increased in June for the first time in six months as the global economy began climbing out of the recession caused by the coronavirus pandemic.

Federal Reserve Vice Chairman Richard Clarida said he expects the economy to grow in the third quarter, adding that activity could return to pre-pandemic levels by the end of 2021.

The Treasury Department expects the government’s borrowing needs to moderate somewhat this quarter but remain elevated amid an unprecedented surge in federal spending to combat the coronavirus pandemic.