Daily Archive: January 10, 2021

At this rate it could take 3 years for employment to recover—But here’s how stimulus could help

The recovery of the U.S. economy is clearly in a precarious spot.

The unemployment rate for December remained flat from November at 6.7%, and the economy lost 140,000 jobs for the month—the first monthly net loss since April.

For economists like Moody’s Analytics’ Mark Zandi, “December was a bad month for a bad year,” he tells Fortune.

Though a new $900 billion relief package is on its way, having been signed at the end of December, Zandi believes the economy will struggle for the next several months as the pandemic rages on and vaccine distribution moves at a crawl. But with the latest relief deal and the “prospect for another one on the other side of the [presidential] Inauguration, I do think we’ll avoid that double-dip [recession],” he says.

That relief from Congress appears to have come on the late side, as the Friday report shows payrolls in … Read More

Lebanon Christian leader rules out joining Hariri government By Reuters

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© Reuters. Lebanese Prime Minister-designate Saad al-Hariri speaks at the presidential palace in Baabda

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BEIRUT (Reuters) – The leader of Lebanon’s biggest Christian political party on Sunday ruled out joining a new government led by Prime Minister-designate Saad al-Hariri, a new hurdle for efforts to pull the country out of political paralysis.

Politicians have been at loggerheads over the shape of a new administration since the last one quit in the aftermath of the Aug. 4 Beirut port explosion, leaving Lebanon rudderless as it sinks deeper into economic crisis.

Veteran Sunni Muslim politician Hariri was named premier for a fourth time in October promising to form a cabinet of specialists to enact reforms necessary to unlock foreign aid.

But Gebran Bassil, leader of the Free Patriotic Movement, the biggest Christian bloc, and son-in-law of President Michel Aoun, said in a televised speech his movement would not join the

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