US jobless rate tumbles to near 4-year low

October 6, 2012

US_employee


Washington, October 6: The US unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama's re-election bid.


The Labor Department said on Friday the unemployment rate, a key focus in the race for the White House, dropped by 0.3 percentage point to its lowest point since January 2009 as employers added 114,000 workers to their payrolls.


The drop in the unemployment rate reflected an even bigger surge in new jobs captured by a survey of households and came even as Americans returned to the labor force to resume the hunt for work. The workforce had shrank in the prior two months.


Payrolls for July and August were revised to show 86,000 more jobs created than previous reported, mostly to reflect increases in government employment.


The jobless rate is now where it was when Obama took office in January 2009. Household employment increased 873,000, the most since June 1983, according to the household survey. The bulk of the gains were part-time jobs.


“There is something in these numbers for everyone. The rise in the participation rate shows somewhat of a real improvement in the labor market,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.


US stock index futures rose on the report, while prices for Treasury debt tumbled. The dollar rose versus the yen and the euro.


It was the second last report before the Nov. 6 election that pits Obama against Republican Mitt Romney.


A Reuters/Ipsos poll released on Thursday after Wednesday's first presidential debate showed Romney gained ground and is now viewed positively by 51 percent of voters. Obama's favorability rating remained unchanged at 56 percent.


Persistently poor labor market conditions led the Federal Reserve in September to announce a plan to buy $40 billion worth of mortgage-backed securities each month until it sees a sustained turnaround in employment.


The central bank, which also pledged to keep overnight lending rates near zero until at least mid-2015, hopes the purchases drive down long-term borrowing costs and spur the recovery.


The Fed's ultra-easy stance has started to free up credit, giving a lift to consumers, economists said. That, in turn, helped lift retail hiring in September.


Temporary help jobs, which are often seen as a harbinger for permanent hiring, fell 2,000 after being almost flat in August.
Manufacturing payrolls fell for a second straight month.


Construction employment rose 5,000, benefiting from the rise in home construction, as demand for housing rises against the backdrop of record low mortgage rates Government payrolls rose 10,000 after increasing 45,000 in August. Average hourly earnings rose 7 cents last month, which could support spending.



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News Network
April 10,2020

Paris, Apr 10: French pharma major Sanofi said on Friday it has decided to donate 100 million doses of hydroxychloroquine, the anti-malaria drug which could be a potential weapon against novel coronavirus, across 50 countries.

The company has already doubled its incremental production capacity on top of the usual production for current indications across its eight hydroxychloroquine manufacturing sites worldwide and is on track to quadruple it by the summer.

"In this global health emergency, Sanofi stands ready to assist as many countries as possible, starting with countries where its medicine is registered for current approved indications as well as countries where there are no hydroxychloroquine suppliers or countries with underserved populations," it said in a statement.

Sanofi called for coordination among the entire hydroxychloroquine chain worldwide to ensure the continued supply of the medicine if proven to be a well-tolerated and effective treatment in COVID-19 patients.

"The COVID-19 pandemic is an unprecedented health and economic crisis which is shaking some of the very fundamentals of international solidarity and cooperation among countries," said Chief Executive Officer Paul Hudson. "This virus does not care about the concept of borders, so we should not either," he added.

"It is critical that international authorities, local governments, manufacturers and all other players involved in the hydroxychloroquine chain work together in a coordinated manner to ensure all patients who may benefit from this potential treatment can access it. If the trials prove positive, we hope our donation will play a critical role for patients," said Hudson.

While hydroxychloroquine is generating a lot of hope for patients around the world, said Sanofi, it should be remembered that there are no results from ongoing studies and the results may be positive or negative.

To date, there is insufficient clinical evidence to draw any conclusion over the safety and efficacy of hydroxychloroquine in the management of COVID-19 patients.

It is one of several medicines being investigated by the World Health Organisation (WHO) in its international clinical trial seeking a treatment solution for COVID-19. "Sanofi is supporting ongoing trials by providing the medicine to some participating investigator sites and other independent research centres," it said.

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News Network
May 5,2020

May 5: Global coronavirus deaths reached 250,000 on Monday after recorded infections topped 3.5 million, a news agency tally of official government data showed, although the rate of fatalities has slowed.

North America and European countries accounted for most of the new deaths and cases reported in recent days, but numbers were rising from smaller bases in Latin America, Africa and Russia.

Globally, there were 3,062 new deaths and 61,923 new cases over the past 24 hours, taking total cases to 3.58 million.

That easily exceeds the estimated 140,000 deaths worldwide in 2018 caused by measles, and compares with around 3 million to 5 million cases of severe illness caused annually by seasonal influenza, according to the World Health Organization (WHO).

While the current trajectory of COVID-19 falls far short of the 1918 Spanish flu, which infected an estimated 500 million people, killing at least 10% of patients, experts worry the available data is underplaying the true impact of the pandemic.

The concerns come as several countries begin to ease strict lockdowns that have been credited with helping contain the spread of the virus.

"We could easily have a second or a third wave because a lot of places aren't immune," Peter Collignon, an infectious diseases physician and microbiologist at Canberra Hospital, told Reuters. He noted the world was well short of herd immunity, which requires around 60% of the population to have recovered from the disease.

The first death linked to COVID-19 was reported on Jan. 10 in Wuhan, China after the coronavirus first emerged there in December. Global fatalities grew at a rate of 1-2% in recent days, down from 14% on March 21, according to the Reuters data.

DEATH RATE ANOMALIES

Mortality rates from recorded infections vary greatly from country to country.

Collignon said any country with a mortality rate of more than 2% almost certainly had underreported case numbers. Health experts fear those ratios could worsen in regions and countries less prepared to deal with the health crisis.

"If your mortality rate is higher than 2%, you've missed a lot of cases," he said, noting that countries overwhelmed by the outbreak were less likely to conduct testing in the community and record deaths outside of hospitals.

In the United States, around half the country's state governors partially reopened their economies over the weekend, while others, including New York Governor Andrew Cuomo, declared the move was premature.

In Britain, Prime Minister Boris Johnson, who battled COVID-19 last month, has said the country was over the peak but it was still too early to relax lockdown measures.

Even in countries where the suppression of the disease has been considered successful, such as Australia and New Zealand which have recorded low daily rates of new infections for weeks, officials have been cautious.

Australian Prime Minister Scott Morrison has predicated a full lifting of curbs on widespread public adoption of a mobile phone tracking app and increased testing levels.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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