January 04, 2025 03:25 pm (IST)

Make this your homepage

Canada / USA

Bharatiya Janata Party releases first list of candidates for Delhi Assembly polls, fields Parvesh Sahib Singh Verma against Kejriwal | Firecracker unit explosion in Tamil Nadu's Virudhunagar kills 6 | Body of independent journalist, who went missing on Jan 1, found in a septic tank in Chhattisgarh | Delhi: 14-year-old student stabbed to death outside school after brawl with classmate | Rohit Sharma confirms he is not retiring amid speculations after skipping Sydney Test | India objects to China's 'new counties' announcement, says parts of these come under Ladakh | No cause for alarm over HMPV virus spread in China: Indian Health Agency | PM Modi gives a call for change in Delhi launching fierce attack on Arvind Kejriwal's AAP | Quran open to passage glorifying violence, bomb-making materials tracked in New Orleans attacker Shamshud-Din Jabbar's home | Jasprit Bumrah leads India in series decider after Rohit Sharma opts to rest in Sydney Test amid poor show with willow

US Economy

Unsplash

New COVID-19 spike could hurt US economy’s V-shaped recovery: White House Adviser Kudlow

India Blooms News Service | @indiablooms | Dec 08, 2020, at 03:49 pm

#USEconomy #US #COVID19

Washington/Sputnik: The potential for a V-shaped US economic recovery from the coronavirus pandemic is being threatened by a resurgence of infections, White House Economic Adviser Larry Kudlow said on Monday.

Earlier in the day, top US epidemiologist Anthony Fauci said the United States is likely to see a major spike in coronavirus infections in mid-January stemming from year-end holidays in 2020.

"I’m going to make the case that I think we are in a strong V-shaped recovery," Kudlow said in a live-streamed interview with The Washington Post. "I do believe there are threats to that recovery with respect to the Christmas pops in the virus."

The US economy grew by 33.1 percent in the third quarter, after shrinking by 31.4 percent in the previous three months and 5 percent in the first quarter.

Despite the rebound, the economic outlook for the United States remains dire with a rash of new coronavirus infections reported across a nation with 14.8 million COVID-19 cases since January and more than 282,000 fatalities from that. In recent weeks, national daily hospitalization rates have reached more than 100,000, threatening to overrun the health system, experts said.

US jobs recovery has, meanwhile, stalled to its lowest since the start of pandemic.

The United States lost more than 21 million jobs between March and April, at the height of lockdowns forced by the COVID-19. A rebound of 2.5 million jobs was logged in May and 4.8 million in June, before the recovery began slowing. For both September and October, less than 700,000 jobs were added each month. In November, a mere 245,000 new jobs were registered, the smallest growth since May, when jobs started coming back.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.