Tag: slowed

LI job growth has slowed as the unemployed await promised $300 aid boost

dhita yudha

Long Island reported anemic job growth last month as jobless residents and New Yorkers across the state waited anxiously for a boost of $300 in weekly unemployment payments to hit their bank accounts in the coming days.

In August, Long Island was still down 152,200 jobs from a year earlier, the state Labor Department reported Thursday, with a gain of 7,500 nonfarm jobs on a month-to-month basis. The monthly gain is well below the 17,800 jobs gained in July, and the pace of growth has slowed since the 78,000 new jobs reported in June.

“The overall pace of job growth on Long Island slowed,” said Shital Patel, labor market analyst in the Labor Department’s Hicksville office. “The large gains in jobs in May, June, and July reflect the phased reopening of the economy.”

Patel said that the slower job growth in August is likely due to businesses relying on smaller

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Business and personal bankruptcy filings in the US slowed in August

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The pace of business bankruptcy filings in the U.S. slowed significantly in August from previous months, though chapter 11 filings were up from last year as the coronavirus pandemic continued to roil the economy.

A total of 525 businesses filed for chapter 11 protection from creditors in August, down 18% from 642 businesses in July but up 17% from August 2019, according to legal-services firm Epiq Systems Inc.

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The numbers reflect continued distress in retail, energy, entertainment, and travel and leisure, Epiq said, based on data from its Aacer business unit.

In the first eight months of this year, chapter 11 filings rose 28% to about 4,800.

“Large corporations are benefiting from robust capital market activity which is providing access to capital at an attractive cost,” said Deirdre

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