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.
Economy May 14 36 million have sought U.S. unemployment aid since virus hit 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.
Economy May 13 Powell warns of prolonged recession and unemployment The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that widespread bankruptcies among small businesses and extended…
Nation May 08 Jobless rate spikes to 14.7 percent, highest since Great Depression The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.
Economy May 07 33 million have sought U.S. unemployment aid since virus hit Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the viral outbreak deepened the worst U.S. economic catastrophe in decades.
Economy May 06 April jobs data to show epic losses and soaring unemployment The economic catastrophe caused by the viral outbreak likely sent the U.S. unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of jobs.