Economy Jun 10 WATCH: Fed ‘not thinking about raising rates,’ Powell says Chairman Jerome Powell faces a challenging task Wednesday: He'll need to make a convincing case that the Federal Reserve is committed to using all its tools to bolster an economy gripped by recession — without making any policy changes to…
Economy Jun 08 A U.S. recession began in February in the face of coronavirus, say economists The U.S. economy entered a recession in February, a group of economists declared Monday, ending more than a decade of steady if slow growth.
Economy Jun 05 Unemployment rate falls to 13.3 percent, U.S. adds 2.5 million jobs The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic.
Economy Jun 04 1.9 million seek jobless aid even as reopenings slow layoffs Nearly 1.9 million people applied for U.S. unemployment benefits last week, the ninth straight decline since applications spiked in mid-March, a sign that the gradual reopening of businesses has slowed the loss of jobs.
Economy Jun 03 U.S. job losses in May could raise 3-month total to 30 million The epic damage to America's job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report.
Economy May 29 WATCH: Powell says Fed will soon begin ‘challenging’ Main Street lending Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch of a program lending directly to private companies.
Economy May 28 41 million have lost jobs since virus hit, but layoffs slow Roughly 2.1 million people applied for U.S. unemployment benefits last week, a sign that companies are still slashing jobs in the face of a deep recession even as more businesses reopen and rehire some laid-off employees.
Economy May 21 Nearly 39 million have sought U.S. jobless aid since virus hit Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Nation May 19 WATCH: Fed’s Powell says new lending programs to launch by June 1 Treasury Secretary Steve Mnuchin and Federal Reserve Chair Jerome Powell will testify Tuesday at 10 a.m. before the Senate Banking, Housing and Urban Affairs Committee.
Economy May 14 3 million more U.S. layoffs intensify fears of lasting damage Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions.