“The nation’s fledgling economic recovery is losing momentum, as a new wave of coronavirus infections causes businesses to scale back or reshutter in several big states and consumers to retreat anew.
Restaurant seating rates have fallen of late in Florida, California, Arizona and Texas. Foot traffic to businesses has ebbed in some states since late June. Google searches for “file for unemployment” in Arizona and Florida are rising.
“While it’s only begun to bear out over the past week, there are some early signs that the recovery may be losing steam,” said Matt Sigelman, CEO of Burning Glass Technologies, a labor-market data analytics software firm.”