Minuteman Press Business minute for September 4, 2020

August jobs report likely to point to a still-slow recovery
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — The United States keeps regaining more of the jobs that vanished when the viral pandemic flattened the economy early this spring. Yet so deep were the layoffs that began in March that millions of Americans remain burdened by job losses that might prove permanent. Economists have forecast that employers added 1.4 million jobs in August and that the unemployment rate fell from 10.2% to 9.8%, according to a survey by data provider FactSet. That rate would still be just below the peak unemployment level of the 2008-2009 Great Recession.

(Vanport, Pa.) A press conference was held yesterday afternoon at the Beaver County Housing Authority in Beaver. The purpose of the event was to announce the Beaver County Foster Youth to Independence Initiative Announcement (FYI)

Region III Regional Administrator of HUD Joe DeFelice was introduced by Brian Yaworsky, the housing authority’s executive director. DeFelice told those in attendance he is from North East Philadelphia and operated the community development agency in an area where there are 50,000 people. he said, referring to Beaver County this region is pretty diverse. He said this is his fifth trip to the county. and also visits rural counties. .He was appointed to his new position by President Donald Trump.

An FYI check for $5,059.00 presentation was made to the housing authority and social service agencies in attendance following DEFelice’s remarks on the Foster Youth to Independence Initiative (FYI).

DeFelice will meet with officials in Aliquippa this afternoon . Photos Mr. DeFelice, Mr Yworsky, CYS Director Lesley Hallas, and participants from the various agencies.

Stocks open higher on Wall Street a day after tech sell-off
NEW YORK (AP) — Stocks are opening higher on Wall Street Friday, a day after a big slump in technology companies pulled the market to its biggest drop since June. The S&P 500 rose 0.4%. Traders were encouraged to see a drop in the unemployment rate last month, even as hiring slowed. Treasury yields rose after the government’s monthly jobs report came out, a sign that investors are becoming less pessimistic about the economy. The higher yields helped send bank stocks higher, since banks can lend money at higher rates once yields rise in the bond market. U.S. markets will be closed Monday for Labor Day.

SAN RAMON, Calif. (AP) — Apple is delaying a new privacy feature in the next version of its iPhone operating system that will make it more difficult for app developers to track people online to help sell ads.The decision outlined Thursday affects iOS 14, which is expected to be released to roughly a billion iPhone users later this month. Apple intended iOS 14 to automatically block tracking as soon as the software came out, but is now postponing the feature until early next year. The decision comes a week after Facebook warned the anti-tracking tool could deliver a huge blow to apps already struggling amid the recession.