by Troy S. Mason | Jun 12, 2020 | Business News
U.S. stocks dropped sharply on Thursday as investors weighed sobering economic forecasts and new data, along with indications that the COVID-19 pandemic is far from subsiding. The Dow Jones Industrial Average closed down 1,861 points, or 6.9 percent, and the S&P 500 was down 5.9 percent, the biggest fall since March 16. Just a day […]
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...
by Troy S. Mason | May 11, 2020 | Business News
President Donald Trump has pushed for a swift turnaround after weeks of lockdowns, saying he believes the economy will “transition into greatness” in the third quarter. However, as the country slowly reopens, the economy is not expected to simply bounce...
by Troy S. Mason | Apr 29, 2020 | Business News
The coronavirus pandemic has slammed into the economy so hard the nation’s GDP has fallen by 4.8 percent, bringing the longest economic expansion on record to an abrupt halt. Gross domestic product, which measures the output of goods and services, sank by 4.8...
by Troy S. Mason | Mar 31, 2020 | Business News
Millions of Americans already have lost their jobs due to the coronavirus crisis — and the worst of the damage is yet to come, according to a Federal Reserve estimate. Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which...
