This week in Bidenomics ending 07-05-24

[Truth Detector]

Housing affordability hits new low under Biden

Newly released data regarding the housing market’s continual deterioration further threaten President Joe Biden’s reelection chances.

Housing affordability hits new low under Biden - Washington Examiner

Newly released data regarding the housing crisis further threaten President Joe Biden's reelection bid.

www.washingtonexaminer.com

Labor market continues to cool as applications for unemployment benefits rise​

First-time applications for unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market.

Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year, with financial markets hopeful that the easing cycle could start in September.

Labor market continues to cool as applications for unemployment benefits rise

First-time applications for unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradu…

nypost.com

 

[Truth Detector]

Mod Pizza chain — with 500 shops in the US — could soon be filing for bankruptcy: report​

Popular fast-casual pizza chain Mod Pizza could soon be filing for bankruptcy — following in the footsteps of several other well-known US restaurants, according to a new report.

The company, which has locations in 28 states, is preparing a potential bankruptcy filing and could enter court protection as soon as next week, sources told Bloomberg Wednesday.

Mod Pizza chain — with 500 shops in the US — could soon be filing for bankruptcy: report

The pizza joint known for its made-on-the-spot, customizable personal pizzas has more than 500 locations across 28 states.

nypost.com

 

[Truth Detector]

Bob’s Stores closing all locations after 70 years in latest US retail casualty​

Bob’s Stores, the beloved store that has clothed families across the northeast for 70 years, will permanently shut its doors at all its locations in the US’s latest retail casualty.

The iconic retail giant was “unable to secure the finances needed to maintain operations,” president Dave Barton announced on Monday.

Bob’s Stores will liquidate its inventory at its 21 locations throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island — offering discounts between 30 and 70 percent leading up to the store’s closure on July 14.

Bob’s Stores closing all locations after 70 years in latest US retail casualty

Bob’s Stores will liquidate its inventory at its 21 locations throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island after filing for Chapter 11 bankruptc…

nypost.com