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IMF slashes forecast for the global economy, warns of soaring debt levels and unemployment

by Troy S. Mason | Jun 25, 2020 | Business News

The International Monetary Fund slashed its economic forecasts once again on Wednesday and warned that public finances will deteriorate significantly as governments attempt to combat the fallout from the coronavirus crisis. The IMF now estimates a contraction of 4.9...

Unemployment rate falls to 13.3 percent as economy gains surprise 2.5 million jobs despite coronavirus

by Troy S. Mason | Jun 5, 2020 | Business News

The U.S. economy gained 2.5 million jobs in May and the unemployment rate dropped to 13.3 percent. That’s down from 14.7 percent in April, according to the monthly employment report released Friday by the Bureau of Labor Statistics. The surprising data comes amid the...

Latino college graduates worry about their futures in a pandemic economy

by Troy S. Mason | May 27, 2020 | Business News

Alexis Aviles, 22, had it all planned out. The recent University of Richmond graduate was going to move to Chicago and pursue a job with a nonprofit. Then the coronavirus pandemic hit. Quarantined with her family in her native New Orleans, Aviles, a first-generation...

Jobless claims top 30 million as coronavirus continues to devastate economy

by Troy S. Mason | May 1, 2020 | Business News

Around 3.8 million more workers filed for first-time employment benefits last week, bringing the national jobless total to a staggering 30 million — or around 18 percent of the workforce. Continuing claims, or the number of people receiving ongoing benefits, hit 18...

Will oil’s price slump be worse for the economy than the effects of the coronavirus?

by Troy S. Mason | Apr 22, 2020 | Business News

The prospect of cheaper gas at a time when most Americans are holed up at home is not much of a silver lining to the coronavirus pandemic. Energy analysts say there is little upside to the unprecedented plunge in oil prices that sent crude oil futures spiraling into...
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