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The United States’ Gross Domestic Product is expected to have a modest comeback in 2021 while unemployment will be slower to recover for years to come, according to a government projection from the Congressional Budget Office.The nonpartisan government agency that provides policy guidance for members of Congress said that unemployment is projected to remain above pre-pandemic levels through 2030.Thursday’s estimates from the CBO indicate that real GDP in 2021 will jump 4% in 2021 from 2020 after taking a projected 5.8% drop in 2020. The CBO then projects that real GDP will increase 2.9%. In years following, the GDP is expected to level off at 2.2%.But after unemployment dropped to 3.5% in 2019,, the unemployment rate is expected to be 7.6% in 2021, followed by 6.9% in 2022 and 5.9% in 2023 and 2024. Data released Thursday pegged the US unemployment rate at 11.1% in June.The CBO stresses there is uncertainty in its forecast given the pandemic.“The severity and duration of the pandemic are subject to significant uncertainty,” the CBO said. “In particular, several important epidemiological characteristics of the coronavirus remain unclear: Much still needs to be learned about its transmissibility and lethality and about the immunity conferred on people who have recovered from it. Moreover, the severity and duration of the pandemic will be affected by how various mitigation measures reduce the spread of the virus and by when vaccines and additional treatments become available—outcomes that remain highly uncertain.” 1544
The storm-weary Carolinas are preparing for another round of strong winds and drenching rains -- this time from Hurricane Michael.Michael is speeding toward the Florida Panhandle as a Category 4 storm, and is expected to make landfall Wednesday afternoon.From there, it'll move into the Southeast and some areas in North and South Carolina, where it's expected to bring strong wind gusts and drop 3 to 5 inches of rain when it passes central parts of the states Thursday and Friday, CNN meteorologist Michael Guy said.While it doesn't sound like much compared to last month's record Florence rainfall of 30 inches or more in some areas, any amount of rainfall on already saturated grounds could lead to flooding.Northeast South Carolina, from Columbia toward Myrtle Beach, and southeast North Carolina, were among the areas hardest hit by Florence, and will get a drenching from the latest hurricane, Guy said. While the rain will move quickly compared to Florence, it'll still bring flooding possibilities. 1015
The Wisconsin Division of Criminal Investigation (DCI) identified Rusten Sheskey as the officer who shot Jacob Blake seven times in the back in Kenosha, Wisconsin on Sunday.The DCI, which provided its first update on the case late Wednesday, nearly 72 hours after the shooting, said its continuing its investigation, but is not pressing charges as of now.The shooting has prompted massive unrest in Kenosha since. The unrest culminated in a shooting incident that killed two people and injured one person on Tuesday amid the late-night demonstration. A 17-year-old was arrested in connection to Tuesday's shooting.In response to Sunday’s shooting, professional athletes in multiple sports boycotted scheduled games. All three NBA Playoff games on Wednesday were postponed, and a MLB game between the Milwaukee Brewers and Cincinnati Reds was also postponed.Investigators said that Sheskey, who was placed on administrative leave, has been with the police department for seven years.The DCI gave the following description of Sunday’s incident:“During the incident, officers attempted to arrest Jacob S. Blake, age 29. Law enforcement deployed a taser to attempt to stop Mr. Blake, however the taser was not successful in stopping Mr. Blake. Mr. Blake walked around his vehicle, opened the driver’s side door, and leaned forward. While holding onto Mr. Blake’s shirt, Officer Rusten Sheskey fired his service weapon seven times. Officer Sheskey fired the weapon into Mr. Blake’s back. No other officer fired their weapon. Kenosha Police Department does not have body cameras, therefore the officers were not wearing body cameras.”Officials also said that Blake told officers he had a knife. The DCI said that officials later found a knife on the driver's side floor of the car.The only videos of the incident were take bystanders that showed Blake opening his car door before he was shot at a close distance by Sheskey.Blake’s family said on Tuesday that the 29-year-old is partially paralyzed, but was fortunate to survive from his injuries. 2048
The unemployment rate has dipped below 4 percent for the first time since 2000.The United States added 164,000 jobs in April, the Labor Department reported Friday. That was slightly below what economists expected. Unemployment dropped to 3.9 percent, the lowest since December 2000."The employment situation continues to surprise everyone," said Robert Frick, chief economist with Navy Federal Credit Union. "Getting down to 3.9 is quite a marker."Wages grew 2.6 percent from a year earlier. That was also slightly below expectations.The report indicates another month of solid job growth for an economy that has been expanding for almost nine years — the second-longest streak on record.Hiring gains in April were broad. Professional and business services added 54,000 jobs, health care added 24,000, and manufacturing posted an increase of 24,000 jobs.The mining sector added 8,000 jobs, extending its gains. Employment in mining has risen by 86,000 since October 2016.The wage growth number seemed unlikely to alarm Wall Street, which has been worried in recent months about inflation. Stock futures were little changed after the report came out.Inflation is closing in on the Federal Reserve's 2% target, gasoline is heading toward a gallon, and companies are reporting cost pressures. Faster inflation could force the Federal Reserve to raise interest rates more quickly than planned.Frick believes unemployment will keep falling as businesses offer more attractive wages and benefits to fill openings."There's still hundreds of thousands of more people who will enter the workforce," he said. "I think we can get down to 3.5 percent."If unemployment falls much further, it will reach territory not seen in half a century. Unemployment fell as low as 3.8 percent in April 2000, in the waning days of the technology boom. The last time it was lower than that was 1969. 1898
The Tampa Police Department is searching for a young man who was caught on camera doing a skateboard trick across a custom-painted car in Ybor City.A spokesperson for the police department said the case is being investigated as a felony criminal mischief. Detectives would like to speak with Dalton Newbury as a person of interest. According to those who have shared the video that's getting thousands of shares on Facebook, it was originally posted to Instagram by the skateboarder himself. The video has since been deleted from instagram. Tampa Police obtained the video and shared it on their YouTube page. Watch the video below: 661