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Christopher Rugaber, Associated Press

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Christopher’s Recent Stories

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.

Economy May 04

Federal reserve set to launch ‘Main Street’ loan program

With the U.S. economy sinking into a severe recession, the Federal Reserve is set to launch a high-risk program through which it will lend money to small and medium-sized companies outside the banking industry for the first time since the…

Economy Apr 30

30 million in U.S. have sought unemployment benefits since virus hit

More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.

Economy Apr 29

WATCH: Fed signals it will likely keep rates near zero for months

Fed chair Jerome Powell suggested that given the depth of the U.S. economic catastrophe, with perhaps 30 million people having lost jobs in the past six weeks, it will “probably will take some time for us to get back to…

Economy Apr 23

Gig workers and self-employed keep waiting for jobless aid

Economists say the layoffs could send the unemployment rate as high as 20%, which would be the worst level since the Great Depression. But there are many more filings for jobless aid to come, including millions of independent contractors, gig…

Economy Apr 23

26 million have sought unemployment benefits since virus hit

More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday.

Economy Apr 22

Many small businesses say loans won’t get them to rehire

Some small businesses that obtained a highly-coveted government loan say they won't be able to use it to bring all their laid-off workers back, even though that is exactly what the program was designed to do.

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