Fed Chairman Jerome Powell warns that long downturn would mean severe damage
“The longer the downturn lasts, the greater the potential for longer-term damage from permanent job loss and business closures,” Powell said. “Long periods of unemployment can erode workers’ skills and hurt their job prospects.”
“The longer the downturn lasts, the greater the potential for longer-term damage from permanent job loss and business closures,” Powell said. “Long periods of unemployment can erode workers’ skills and hurt their job prospects.”
Extra $600 in unemployment benefits ends next month, what happens then?
Lawmakers are at odds over additional aid for the tens of millions of Americans who are still unemployed.
Lawmakers are at odds over additional aid for the tens of millions of Americans who are still unemployed.
Fear turns to greed on Wall Street as Fed details bond buys
The Dow Jones Industrial Average was down 629 points, or 2.5%, at 24,975, as of 9:48 a.m. Eastern time, and the Nasdaq composite was down 1.5%. The losses were widespread, with 98% of the stocks in the S&P 500 lower
The Dow Jones Industrial Average was down 629 points, or 2.5%, at 24,975, as of 9:48 a.m. Eastern time, and the Nasdaq composite was down 1.5%. The losses were widespread, with 98% of the stocks in the S&P 500 lower
1.5 million more laid-off workers seek unemployment benefits
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.
Nursing homes to face enforcement action for swiping coronavirus stimulus checks from seniors
The Trump administration on Tuesday warned nursing homes that they will face repercussions for unlawfully seizing economic impact payments from seniors.
The Trump administration on Tuesday warned nursing homes that they will face repercussions for unlawfully seizing economic impact payments from seniors.
'We need help': Small cities face fiscal calamity from coronavirus
“This is not a downtown Allentown problem,” Santo Napoli said. “This is a Main Street everywhere problem.”
“This is not a downtown Allentown problem,” Santo Napoli said. “This is a Main Street everywhere problem.”
US employers laid off 7.7 million workers in April
U.S. employers laid off 7.7 million workers in April _ a sign of just how deep the economic hole is after the closure of thousands of offices, restaurants, stores and schools during the pandemic.
U.S. employers laid off 7.7 million workers in April _ a sign of just how deep the economic hole is after the closure of thousands of offices, restaurants, stores and schools during the pandemic.
Low-wage essential workers face higher risk of health and financial issues amid pandemic, study finds
Low-wage workers are less likely than high-wage workers to have access to things like masks, hand sanitizer and training on how to prevent the spread of COVID-19, according to recent research.
Low-wage workers are less likely than high-wage workers to have access to things like masks, hand sanitizer and training on how to prevent the spread of COVID-19, according to recent research.
Despite global reopening push, some jobs are gone for good
Factories and stores are reopening, economies are reawakening – but many jobs just aren’t coming back.
Factories and stores are reopening, economies are reawakening – but many jobs just aren’t coming back.
Citing jobs, Trump claims victory over virus, econ collapse
The unemployment rate dropped to a better-than-expected 13.3%, but that is still on par with what the nation witnessed during the Great Depression.
The unemployment rate dropped to a better-than-expected 13.3%, but that is still on par with what the nation witnessed during the Great Depression.
US unemployment drops unexpectedly to 13.3% amid outbreak
The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers.
The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers.
Ill-considered social media posts lead to lost jobs amid protests, COVID-19 crisis
Many people have found themselves without jobs after posting ill-advised messages amid the George Floyd protests and COVID-19 pandemic.
Many people have found themselves without jobs after posting ill-advised messages amid the George Floyd protests and COVID-19 pandemic.
1.9 million seek jobless aid even as reopenings slow layoffs
Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.
Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.
41 million have lost jobs since virus hit, but layoffs slow
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
Stocks soar on reopening optimism
U.S. equity markets surged to their best levels in months as states continued to reopen and as traders returned to the New York Stock Exchange for the first time since shutting down on March 23 to slow the spread of COVID-19.
U.S. equity markets surged to their best levels in months as states continued to reopen and as traders returned to the New York Stock Exchange for the first time since shutting down on March 23 to slow the spread of COVID-19.
US existing home sales plunge 17.8% in April
The National Association of Realtors said Thursday that last month's decline pushed sales down to a seasonally adjusted annual rate of 4.33 million units, the slowest pace since September 2011.
The National Association of Realtors said Thursday that last month's decline pushed sales down to a seasonally adjusted annual rate of 4.33 million units, the slowest pace since September 2011.
Nearly 39 million have sought US jobless aid since virus hit
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Millennial Money: Put off debt payments to start saving now
If you’re one of the millions of Americans making less or receiving unemployment benefits because of the coronavirus pandemic, you’re probably working to recalibrate your finances.
If you’re one of the millions of Americans making less or receiving unemployment benefits because of the coronavirus pandemic, you’re probably working to recalibrate your finances.
Pier One Imports to wind down retail operations, JC Penney to close 250 stores
There is no hope for one North Texas-based retail chain while another could be thrown a lifeline by an online competitor.
There is no hope for one North Texas-based retail chain while another could be thrown a lifeline by an online competitor.
JCPenney files for bankruptcy as coronavirus pushes retailer over edge
Retailer JCPenney filed for Chapter 11 bankruptcy protection after the coronavirus pandemic forced stores to shut, the company announced Friday evening, joining J. Crew and Neiman Marcus.
Retailer JCPenney filed for Chapter 11 bankruptcy protection after the coronavirus pandemic forced stores to shut, the company announced Friday evening, joining J. Crew and Neiman Marcus.