Economic indicators

Accountants expressed much higher confidence in the economy during the first quarter of this year compared to last year, especially in North America, according to a new survey.

Amid a resurgence in COVID-19, accountants around the world are less confident in the chances of the economy bouncing back soon.

Economic experts believe the current surge is not enough to stop continued losses incurred by various segments of economy.

Global confidence improved significantly in the third quarter of the year among accountants.

The unemployment rate declined to 7.9 percent in September, the U.S. Bureau of Labor Statistics reported Friday.

The jobs report showed signs of economic recovery despite the COVID-19 pandemic, although the number of accounting and bookkeeping jobs declined.

The Internal Revenue Service projects that lower levels of employment in the U.S. could persist for years, showcasing the economic fallout of the coronavirus pandemic.

The American Institute of CPAs reported Thursday that its Personal Financial Satisfaction Index declined 55 percent in the second quarter of the year, a level not seen since 2015, as the COVID-19 pandemic continued to ravage consumer finances.