The US economy plunged at an unprecedented rate this spring and even with a record rebound expected in the just-ended third quarter, the US economy will likely shrink this year,
The Trump administration announced last month that it was extending a ban on green cards and adding many temporary visas to the freeze, including J-1 cultural exchange visas and H-2B visas.
Stock markets rallied on Monday, with fresh signs of economic recovery resonating with investors more than a surge in coronavirus infections worldwide.
The US economy collapsed in the midst of the coronavirus pandemic, suffering the largest decline on record, while hopes for a recovery took another hit as job losses increased, according to government data released on Thursday.
The dominant risk to the US economic recovery is a resurgence of COVID-19 cases that would force renewed business shutdowns, the International Monetary Fund warned on Friday.
US consumers continued to spend in July but the gains were much slower than the prior two months amid a surge in coronavirus cases, and confidence remained in a “depressed range,” according to new data released on Friday.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
Wall Street brushed off data released on Friday showing the US economy adding jobs as US-Chinese tensions mount and a standoff over fresh stimulus continues.
World stocks rose in holiday-thinned trade on Monday, helped by a bounce in oil as concerns over tight supply outweighed recession fears.