The economic and financial changes we’re all going through are unprecedented, and trying to keep up with it all is an impossible task. This newsletter presents some of the most important, interesting, and unexpected economic and businesses news of the week based on a set of statistics. This list is compiled by some of the economics and business experts at EvolvEd, who offer lessons in subjects from basic economics to stock picking (to much more).
- $1,200 is the maximum amount on checks beginning to be sent out by the Federal Government to individuals as part of the $2.2 trillion relief package passed in March. The threshold for the full amount is an AGI (adjusted gross income) of $75,000 for single filers, $112,500 for heads of household, and $150,000 for couples filing jointly (who receive a check of $2,400 to their household).
- 4.4 million Americans filed for unemployment benefits the week of April 12-18, bringing the total for the coronavirus period to over 26.5 million. These numbers are staggering, and yet millions more Americans are expected to have filed when the numbers for the next week are released.
- 27% is the amount that Clorox Stock ($CLX) is up since January 1st, 2020. Due to extremely high demand for its products, the maker of disinfectant wipes and other cleaning products found itself a winner of the market rout that took place in March.
- 6.8% is the amount that China’s economy shrank in the first quarter of 2020, the first contraction China has experience since it started reporting GDP data in 1992. Up until this quarter China’s GDP had grown at roughly 6% for the year. The Bureau of Economic Analysis is expected to release the United States’ GDP for the first quarter on April 29th, 2020. Few are expecting good news.
- 1.5 million is the number of people Walmart employs. The nation’s largest employer has found itself more essential than ever with sales up 20% in March. With 10% of its workforce absent due to fear of illness or because of it, the company is struggling to keep all its locations open.
- 10 times the usual number of orders that Tushy, a direct-to-consumer bidet company, received in the second week of March. Bidets have become more popular in the time of Covid-19 due partially to fears of a steady supply of toilet paper.
On EvolvEd you can find experts to teach you the fundamentals of business, economics, stocks and many more topics. Go beyond the headlines by truly understanding what is behind the economics that governs our lives.
- Stimulus Checks: https://www.cnet.com/personal-finance/coronavirus-stimulus-checks-up-to-1200-see-if-youre-eligible-for-a-payment/
- Jobless Claims: https://www.wsj.com/articles/u-s-unemployment-claims-likely-continued-at-record-levels-11587029401?mod=article_inline
- China GDP: https://www.wsj.com/articles/china-set-to-report-plunge-in-first-quarter-gdp-11587086697
- Clorox Stock: https://www.wsj.com/market-data/quotes/CLX
- Walmart: https://www.wsj.com/articles/walmarts-coronavirus-challenge-is-just-staying-open-11587221657?mod=business_lead_pos1
- Bidets: https://www.wsj.com/articles/bidet-makers-see-their-moment-and-scramble-to-make-a-splash-11587182402