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Inside the Economy: Unemployment, Foreclosures and COVID 19

By August 24, 2020August 25th, 2020No Comments

This week on “Inside the Economy”, we focus on the employment trends. Unemployment remains high, however new jobs are being created in specific sectors. On a positive note, retail spending at non store retailers have increased year over year. Will this trend continue? The extra $600 per month of Federal unemployment has stopped and to no surprise, mortgage delinquencies are on the rise. We also look at remittances to Mexico, the dollar and gold prices. Tune in to find out more!

Key Takeaways:

  • Unemployment remains high overall, but in pockets of the job market hiring is robust
  • Retail spending continues to trend upwards
  • Foreclosures and evictions are starting to increase
  • Workers in the US are sending more money back to Mexico to support families
  • Less oil transactions and international tourism are a few factors contributing to a weaker dollar and higher gold prices

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