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Americans still spending as jobs decline


Packages from Amazon are piled up for delivery in New York. Associated Press/Photo by Mark Lennihan (file)

Americans still spending as jobs decline

Americans continued to spend at a brisk pace in August despite surging COVID-19 cases. Online sales soared by 5.3 percent. Some sectors of the economy felt the impact of the delta variant: Sales at restaurants remained flat. But retail sales rose a seasonally adjusted 0.7 percent in August from the month before. That uptick caught most economists by surprise.

What’s happening with jobs? Unemployment claims rose last week after falling to a pandemic low the week before. About 332,000 people filed for jobless benefits, a rise of about 6 percent. That could be a sign that the spread of the delta variant is triggering an increase in layoffs.

Dig deeper: Listen to Nick Eicher and David Bahnsen discuss the state of the economy on The World and Everything in It Moneybeat segment.


Kent Covington

Kent is a reporter and news anchor for WORLD Radio. He spent nearly two decades in Christian and news/talk radio before joining WORLD in 2012. He resides in Atlanta, Ga.

@kentcovington

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INNKEEPER25

I am disappointed that WORLD continues to push the mainstream narrative about the "Delta variant." Perhaps the vaccine mandates have caused people to be terminated or quit their jobs! That has been a reality for my own family and many others I am sure. I would like to see some investigative journalism and a more truly balanced perspective of what is really going on with the virus and the vaccine mandates and how people's lives have been (or will soon be) affected.

news2me

I wonder if people are stocking up on non-perishables for the next wave of "can't find any."
I was told by a bakery in a grocery store that they were not getting what they needed as far as bakery items. Recently there was a shortage of the turkey we were purchasing from the deli in the store. I also noticed that there was a bit of an "empty shelf" syndrome for some items at grocery stores. But there seems to be an over abundance of hand sanitizer everywhere.