Economics

Roughly 22 million Americans have lost their jobs amid the coronavirus shutdown over the past four weeks — a figure that roughly equals the cumulative workforce of 23 states, as noted by the New York […]

(Bloomberg) — Just days after OPEC and its allies announced their big deal to rescue the global oil industry, it’s becoming brutally clear that all they’ve done is limit the worst of the damage. The […]

Data: U.S. Bureau of Labor Statistics via FRED; Chart: Andrew Witherspoon/Axios Another 6.6 million Americans filed for unemployment last week, the Labor Department announced Thursday. Why it matters: It adds to the staggering 10 million […]

(Bloomberg) — The evidence is mounting that March marked the start of a deep global recession. The breadth of the collapse is beginning to appear in the initial trickle of economic data across the world, […]

(Bloomberg) — Michael Burry, the doctor-turned-investor who famously bet against mortgage securities before the 2008 financial crisis, has taken to Twitter with a controversial message: lockdowns intended to contain the coronavirus pandemic are worse than […]

In recent days, social media has been abuzz over photos of large trucks dumping milk, which seems astonishing since the demand for groceries has ballooned in recent weeks due to the coronavirus pandemic. However, the […]

The coronavirus is turning Europe’s retail apocalypse into a nightmare for landlords and lenders. Government-imposed lockdowns have shut stores across the region, leading retailers such as Hennes & Mauritz AB to stop paying the rent. […]

Nonfarm payrolls dropped by 701,000 in March, according to Labor Department numbers released Friday that only begin to show the economic damage wrought by the coronavirus crisis. It was the first decline in payrolls since […]

Data: U.S. Labor Department via FRED; Chart: Andrew Witherspoon/Axios 6.6 million people filed for unemployment last week, a staggering number that eclipses the record set just days ago amid the coronavirus pandemic, according to government […]

The US Postal Service is in crisis, with lawmakers warning that plunging mail volumes could shut it down by June without “urgent” financial help — threatening everything from critical medicine deliveries and vote by mail […]