The numbers tell us the economy is better, but millions of Americans aren’t feeling it - MarketWatch

economy has kept growing despite a summer spike in coronavirus cases and the end of massive federal aid, but millions of Americans are either being left out or in are danger of being left behind.

The upcoming week’s data is likely to show another robust increase in retail sales in August as well as improved production among manufacturers in September, suggesting a U.S.

The unemployment rate among banks, insurers, Wall Street brokerages and other companies involved in the handling of money was just 4.2% in August.

That’s not much higher than the national rate of unemployment shortly before the pandemic struck in March.

The millions of Americans still out of work who are struggling to make ends meet have no such luxury, especially after the expiration of an extra $600 in federal unemployment benefits in July.

The loss of income for these Americans, and devastation caused to airlines, hotels, restaurants and retailers, could eventually filter into the broader economy and even hurt high-income earners and the stock market.

The Federal Reserve, meeting this week to evaluate the economy, is still worried enough that top central bankers continue to plead for more financial relief from Congress.

The wildfires in California, the state with the nation’s largest economy, isn’t helping.

Democrats blocked a “skinny” Republican bill last week that would have provided somewhat more aid for the economy.

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