Business

US Jobless Claims Tick Up to 745,000 as Layoffs Remain High

Published

4 years ago

March 4, 2021

FILE - In this May 7, 2020, file photo, a person looks inside the closed doors of the Pasadena Community Job Center in Pasadena, Calif., during the coronavirus outbreak. A state report released Tuesday, March 2, 2021, details the pandemic's toll on California workers and shines light on who was most affected by job losses and layoffs. (AP Photo/Damian Dovarganes, File)

WASHINGTON (AP) — The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving.

Thursday’s report from the Labor Department showed that jobless claims rose by 9,000 from the previous week. Though the pace of layoffs has eased since the year began, they remain high by historical standards. Before the virus flattened the U.S. economy a year ago, applications for unemployment aid had never topped 700,000 in any week, even during the Great Recession.

In Texas, applications for benefits surged by nearly 18,000 in Texas in the aftermath of freezing weather and power outages. And jobless claims rose by more than 17,000 in Ohio, where the weekly totals have been thrown off by potentially fraudulent claims.

Restrictions on businesses and the reluctance of many Americans to shop, travel, dine out or attend mass events have weighed persistently on the job market. Job growth averaged a meager 29,000 a month from November through January, and the nation still has nearly 10 million fewer jobs than it did in February 2020. Though the unemployment rate was 6.3% in January, a broader measure that includes people who have given up on their job searches is closer to 10%.

“The source of all labor market damage continues to be COVID-19,” said AnnElizabeth Konkel, economist at the Indeed Hiring Lab. “Increased vaccine distribution is promising, since the public health situation must improve for there to be a full economic recovery. When we completely return to ‘normal’ is still unknown.”

The data firm Womply reports that 64% of movie theaters and other entertainment venues, 40% of bars and 34% of hair salons and beauty shops are closed. And on Wednesday, the Federal Reserve reported that across the country, “overall conditions in the leisure and hospitality sector continued to be restrained by ongoing COVID-19 restrictions.”

On Friday, though, economists have forecast that the government will report a strong job gain for February of near 200,000, which would raise hopes that layoffs will slow. Optimism is rising that increasing vaccinations and a new federal rescue aid package that will likely be enacted soon will spur growth and hiring in the coming months. Many analysts foresee the economy expanding at an annual rate of at least 5 percent in the current quarter and 7 percent for all of 2021.

Already, crucial sectors of the economy are showing signs of picking up as vaccinations increase, federal aid spreads through the economy and the Fed’s low-rate policies fuel borrowing and spending. Last month, America’s consumers bounced back from months of retrenchment to step up their spending by 2.4% — the sharpest increase in seven months and a sign that the economy may be poised to sustain a recovery.

The solid gain suggested that many people were growing more confident about spending, especially after receiving $600 checks that went to most adults early this year in a federal economic aid package. Additional relief is likely for American households and businesses as Congress considers President Joe Biden’s proposal for a new aid package amounting to $1.9 trillion.

At the same time, rising bond yields in the financial markets are pointing to worries that higher inflation could be on the way as the economy recovers. This week, Lael Brainard, a member of the Fed’s Board of Governors, sought to calm investors by stressing that the Fed, while generally optimistic in its outlook, is still a long way off from raising interest rates or otherwise lessening its support for the economy.

Up Next

Biden, Dems Prevail as Senate OKs $1.9T Virus Relief Bill

Don't Miss

House Public Integrity and Election Committee Hears Sen. Marco Rubio’s Chinese Interference Update

Click to comment

Business

Portada Latina Hosts Influential Gathering of Hispanic Community Leaders in Central Florida

Published

9 hours ago

December 5, 2024

Hidekel Griffin

ORLANDO, Fla. (FNN) – Central Florida recently hosted an impactful event, “Connections That Make a Difference,” bringing together Hispanic leaders from government, business, education, non-profits, and international politics. This collaborative gathering showcased the vital contributions of these sectors to the growth and empowerment of the Latino community.

The event, organized by the President and Founder of Portada Latina international magazine, marked a milestone in the magazine’s 26-year journey of advocacy and support for the Hispanic community. It celebrated the power of networking and collaboration to create lasting change in Central Florida.

Leaders at the event highlighted how their shared goals and innovative approaches have created opportunities for Latinos, reinforcing their commitment to advancing the region’s prosperity. Attendees shared stories of resilience, showcased initiatives driving economic and educational progress, and emphasized the importance of cultural representation in leadership roles.

Hidekel Griffin / Florida NationalNews

Hidekel Griffin, Florida National News’ Social Media Reporter, captured vibrant moments of the event, ensuring its essence reached a wider audience across platforms.

From fostering professional partnerships to addressing community challenges, this gathering underscored the influence and determination of Central Florida’s Hispanic leaders in shaping a better future for generations to come.

______________________________________________________________________________________

Hidekel Griffin
Florida National News and FNN News Network
news@FloridaNationalNews.com

Business

Orlando Regional REALTOR® Association Named Florida’s Best Real Estate Trade Association for 3rd Year

Published

1 day ago

December 4, 2024

FNN NEWS

ORLANDO, Fla. (FNN) – The Orlando Regional REALTOR® Association (ORRA), the seventh largest real estate trade association in the United States, has been awarded Best Local Trade Association of the Year – Florida for the third consecutive year by the 2024 BUILD Real Estate and Property Awards.

BUILD Magazine, a renowned publication covering construction, engineering, real estate, and design industries, hosts the annual awards to recognize organizations and individuals demonstrating innovation, excellence, and commitment to client satisfaction.

A Legacy of Excellence

ORRA’s recognition reflects its leadership in innovation, growth, and diversity initiatives within the real estate industry. The organization has consistently worked to support its over 20,000 members while driving the real estate sector forward.

This year, ORRA reached a significant milestone with the grand opening of its new 45,000-square-foot headquarters. The state-of-the-art, four-story facility accommodates ORRA’s growing membership and serves as a central hub for real estate professionals across the country. It offers premier networking spaces, educational opportunities, and event venues to foster collaboration and launch transformative initiatives.

Global Expansion and Strategic Partnerships

In 2024, ORRA expanded its global reach, signing memorandums of understanding (MOUs) with Hungary, Brazil, Albania, and India, marking the highest number of agreements in a single year. The MOU with Brazil has been particularly impactful, creating opportunities for 300,000 Brazilian professionals to engage with the Orlando real estate market and fostering stronger international ties.

“2024 has been a year of growth and new beginnings for the Orlando Regional REALTOR® Association,” said Cliff Long, CEO of ORRA. “Being recognized as the best real estate trade association is a testament to the dedication and innovation of our executives and members. We’ve positioned ORRA as a national leader in the real estate industry.”

Award Criteria and Recognition

The BUILD Awards judging panel evaluated nominees based on innovation, business growth, longevity, online reputation, client feedback, and overall business performance. ORRA’s continued success demonstrates its ability to adapt to industry trends while maintaining a strong commitment to its members and community.

Impact Analysis

ORRA’s recognition as Florida’s best real estate trade association reinforces its position as an industry leader. This achievement will likely enhance its reputation both locally and globally, attracting more members, partnerships, and opportunities for innovation. Additionally, the opening of its new headquarters highlights its commitment to growth, creating significant economic and professional opportunities for its members.

Business

Mayweather Boxing + Fitness: Where Seminole County Residents Knock Out Calories

Published

3 days ago

December 2, 2024

Willie David

SEMINOLE COUNTY, Fla. (FNN BUSINESS) – The fitness landscape in Oviedo has transformed with the arrival of Mayweather Boxing + Fitness, a unique training facility that opened in 2022 at 2871 Clayton Crossing Way, Suite 1093. Inspired by the unparalleled boxing career of Floyd Mayweather, this studio offers a fresh and dynamic approach to achieving fitness goals.

A Passion Turned Business: Lisa Brodsky’s Journey

At the heart of this venture is Lisa Brodsky, a former attorney who found her calling in the fitness world. Lisa discovered Mayweather Boxing + Fitness during a family vacation and instantly felt inspired.

“Mayweather Fitness + Boxing completely changed my life,” Lisa shared. “I went from being a lawyer to co-owning a fitness gym that helps people achieve their goals while building a sense of community.”

To bring her vision to life, Lisa partnered with Kevin Nuñez, a professional boxer and four-time state champion who also serves as the studio’s operating partner and head instructor. Kevin’s extensive experience ensures that members receive authentic and effective training tailored to all fitness levels.

Source: Mayweather Boxing + Fitness

Revolutionary Fitness: A New Way to Train

Mayweather Boxing + Fitness combines the science behind Floyd Mayweather’s undefeated 21-year boxing career with modern fitness techniques. Members engage in 45- and 60-minute classes that blend boxing, strength training, and cardio conditioning, all guided by state-of-the-art smart screen technology.

This immersive experience projects Floyd Mayweather’s image during sessions, giving participants the feeling of training alongside the champion himself.

“Our classes offer fast results, intense calorie burns, and a sense of accomplishment after every session,” Lisa explained.

Classes Designed to Suit Everyone

The Oviedo location provides an array of fitness classes designed for varying skill levels and goals:

M45 Strong: Combines boxing and strength training.
MBody: A full-body, non-boxing workout.
M45 Undefeated: A fast-paced, HIIT-style boxing session.
M60 Champ: A 60-minute class fostering community and endurance.
Boxing Fundamentals: A skills-focused workshop.
M45 Advanced Bagwork: Geared for experienced boxers.

Each session can burn up to 1,000 calories, leaving participants energized and confident.

Additional Offerings and Community Impact

Mayweather Boxing + Fitness Oviedo goes beyond group classes by offering:

Personal training
Open gym access
Free weights

Lisa and Kevin aim to create more than just a gym; they strive to foster a community hub for health and wellness.

“We want members to feel like this is their second home,” Lisa said. “It’s not just about working out; it’s about building connections and inspiring others to live their best lives.”

Mayweather Boxing + Fitness: Fitness for Everyone

The Oviedo studio welcomes individuals of all fitness levels, from beginners looking to try something new to seasoned athletes seeking a challenging workout. This accessible, high-energy approach makes it a standout fitness destination in Seminole County.

_______________________________________________________________________________________

J Willie David, III
Florida National News and FNN News Network
news@FloridaNationalNews.com