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 […]
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Unemployment rate falls to 13.3 percent as economy gains surprise 2.5 million jobs despite coronavirus
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 […]
Unemployment rate soars to 14.7 percent, highest level since the Great Depression
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 […]
GDP falls by 4.8 percent, bringing longest economic expansion on record to abrupt halt
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 […]
Coronavirus job losses could total 47 million, unemployment rate may hit 32 percent, Fed estimates
Millions of Americans already have lost their jobs due to the coronavirus crisis — and the worst of the damage is yet to come, according […]
Trump administration warns of 20 percent unemployment rate
WASHINGTON — Trump administration officials warned Senate Republicans on Tuesday that the coronavirus outbreak in the United States could cause the unemployment rate to reach […]
U.S. ‘will not have’ unemployment rate of 20 percent, Mnuchin says
The U.S. will not see unemployment levels of 20 percent, Treasury Secretary Steven Mnuchin clarified Wednesday, just one day after issuing a stark warning about […]
Dow falls 10 percent in brutal day for markets
Wall Street recorded historic losses Thursday as fears intensified over the economic fallout from the coronavirus pandemic amid what some saw as an anemic response […]