Top Stories From the Breitbart News Desk

[Maganomics Daily]( Top Stories From the Breitbart News Desk Initial claims for unemployment benefits surged higher last week. Economists had expected a slight upward drift from 712,000 to 724,000. Instead, jobless claims soared to 853,000, 137,000 above the revised figure for the prior week and the highest claims figure in three months. While some of this week’s elevated claims may be a hangover from Thanksgiving week – when employers hold off on discharging workers, and laid-off workers often don’t bother to apply until after the holiday – it’s hard to escape the impression that the economy is weakening more rapidly than expected. Claims have been up for three of the past four weeks, and the nonfarm payroll number for November showed employment expanding much less than expected. What’s driving the economy’s deterioration? Lockdowns and restrictions on the hours and capacity of businesses are obviously weighing on employment. And businesses looking ahead do not see a light at the end of the tunnel thanks to the vaccines. Instead, they see higher taxes and increasing regulatory burdens under an increasingly likely Biden administration. What’s more, there’s no Paycheck Protection Program to prop up employment while businesses are shuttered, so many will have no choice but to lay off workers. [How To Live Your Best Life]( Speaking of COVID relief legislation, Congress is adjourning until sometime next week without having come close to a deal. While it’s always possible Congress could do something before Christmas, that looks increasingly unlikely. At that point, lawmakers will likely wait to find out who will control the Senate following the Georgia runoff election. Whatever the outcome in Georgia, new legislation may have to wait until after Inauguration Day, which will likely mean a lot of layoffs and rising unemployment over the next few weeks. France fined Amazon the equivalent of $42 million for tracking customers’ activity online. To put that in perspective, Amazon had $280.5 billion in revenue last year. So France’s enforcement of privacy rights cost Amazon just under 0.015% of last year’s sales. That’s the equivalent of fining someone earning $100,000 a year slightly less than $15. That’ll teach ’em. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image]( [France Fines Google $120 Million, Amazon $42 Million for Tracking Users]( France’s data-protection agency CNIL has fined Google $120 million and Amazon $42 million for dropping tracking cookies without consent. Google’s revenue in the third quarter of 2020 reached $46.2 billion. The regulator has been investigating Google and Amazon over the past year and discovered tracking cookies were automatically dropped when a user visited the domains, which is in breach of France’s Data Protection Act, according to a report by TechCrunch. [[Click here for more]( Recommended Link [$21,730 From One Stock? (Named For Free)]( [image]( He’s never worked a day on Wall Street… Yet, this man is showing regular folks how to make as much as $18,666… $19,508… and even $21,730 in a single month… With up to 92.3% accuracy… By trading just ONE STOCK… [SHOW ME HOW]( -- IN OTHER STORIES… [Josh Hawley Issues Plan for Second Round of $1,200 Checks to Americans]( Sen. Josh Hawley (R-MO) has introduced legislation to deliver a second round of $1,200 stimulus checks to American citizens as mass unemployment continues due to the Chinese coronavirus crisis. [[Click here for more]( [U.S. Household Net Worth Hit Record High in Third Quarter]( Surging values of stock portfolios and real estate holdings pushed the net worth of U.S. households to a record high in the third quarter, a report from the Federal Reserve showed Thursday. [[Click here for more]( [Jobless Claims Jump to 853,000, Far Worse Than Expected]( New weekly jobless claims jumped 137,000 to 853,000 in the week that ended December 5, the Department of Labor said Thursday. That is far worse than expected. [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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