In this Wednesday, Sept. 2, 2020, file photo, passers-by walk past a business storefront with store closing and sale signs in Dedham, Mass. U.S. employers advertised for slightly fewer jobs in August while their hiring ticked up modestly. The Labor Department said Tuesday, Oct. 6, 2020, that the number of U.S. job postings on the last day of August dipped to 6.49 million, down from 6.70 million July. (AP Photo/Steven Senne, File)
WASHINGTON (AP) — The government will issue its latest snapshot Thursday of the level of layoffs in the United States, which remain elevated seven months after the viral pandemic erupted and after the expiration of federal unemployment aid for millions of Americans.
The still-high number of people seeking jobless benefits reflects an economy that has recovered only slightly more than half the 22 million jobs that were lost to the pandemic. Many Americans are facing unemployment with vastly diminished aid since a $600-a-week federal benefit expired this summer.
The latest weekly report on jobless claims coincides with fading prospects in Washington for a new federal rescue aid package that economists say is urgently needed for unemployed workers and struggling businesses, states and cities. Congress remains at an impasse.
At the same time, economists say they have grown increasingly skeptical about the government’s figures for unemployment claims, even though there is little doubt that hiring has slowed and many employers are still cutting jobs.
7 Great Biotech Stocks That Don’t Depend on a Coronavirus Cure
Biotech stocks are some of the most volatile for investors to include in their portfolio. And that volatility can be hard to predict. Biotech companies don’t have a firm correlation with the overall economy. And what can add to the challenge is that many of these companies are small-cap companies that are not well-known names.
These small biotech stocks may shoot higher based on a vaccine or drug candidate that gets national attention. But these small-cap stock also reflect the adage of letting the buyer beware. Because the stark reality for many investors is that the vast majority of these treatments never make it past clinical trials. And that means that a stock that goes up rapidly can move down just as fast.
We’re seeing that right now with the multitude of companies that are competing in the race towards a vaccine and/or treatment for Covid-19 and the novel coronavirus that causes the disease. And if you’ve been good at timing the market, you could have made some good money on some of these candidates.
Of course, if you held the stock too long, you could have lost your shirt as well.
That doesn’t mean however that buy and hold investors should avoid the biotech sector altogether. There are still some attractively priced small-cap biotech companies that are working on treatments for a range of conditions that provide them with a large addressable base. And we’ve identified seven of these stocks in this special presentation.
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