Record economic plunge, bleak jobs numbers reveal virus toll
The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter. It is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating.
Hiring rose in 46 states in May, yet jobless rates remain high
Employers added jobs in 46 states last month, evidence that the U.S. economy’s surprise hiring gain in May was spread broadly across the country — in both states that began reopening their economies early and those that did so only…
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What the latest jobs numbers say about a U.S. economic recovery
The number of weekly jobless claims is the lowest since the economic shutdown began in March, but it remains far above what the U.S. has experienced during other financial crises. Jerome Powell, chairman of the Federal Reserve, said earlier this…
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Do May jobs numbers indicate economic recovery has begun?
Jobs numbers from May were unexpectedly strong, catching most economists by surprise. But the Trump administration was quick to hail them as early indications of an economic recovery already underway. How do others interpret the new data -- and what…
As U.S. businesses prepare for gradual reopenings, the number of Americans filing for unemployment seems to be leveling off. Still, the Labor Department says more than 38 million people sought jobless benefits in the past nine weeks. But as he…
For more than two months, the toll of unemployment in the U.S. has grown each week. The retail sector, which was already struggling before the pandemic, is among the hardest hit, with stores closed or at reduced capacity and consumers…
Rent comes due again for more than 30 million people around the U.S. who have sought unemployment benefits amid shutdowns caused by the coronavirus outbreak.
New government jobs numbers reiterate the extent of the pandemic’s economic damage. In the last six weeks, more than 30 million Americans have lost their jobs, including another 3.8 million filing for unemployment last week. Lawmakers are still debating how…
As Americans endure an unprecedented economic situation, they are confronting new challenges and worries about many aspects of their lives. In this week’s Ask Us, we focus on concerns about jobs and money. Michelle Singletary, The Washington Post’s finance columnist,…
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