Economics

The US has been hit by an unprecedented wave of unemployment since the start of the coronavirus pandemic. Nearly 39 million Americans have filed new unemployment claims and the unemployment rate has hit a staggering […]

A field hospital set up in Brooklyn specifically for coronavirus patients is now being dismantled without having served a single patient, The City reported. As New York City quickly became the global COVID-19 epicenter, city […]

(Bloomberg) — The U.S. jobless rate may still be in the double digits when President Donald Trump stands for re-election in November, said a White House economic adviser and a regional Federal Reserve president. While […]

Layoffs fueled by the coronavirus pandemic continue to mount. About 2.4 million Americans filed initial unemployment benefit claims last week, the Labor Department said Thursday, as the health and economic crisis sparked by the coronavirus […]

House Speaker Nancy Pelosi on Saturday called for Veritas, one of San Francisco’s biggest landlords, to return a $3.6 million Paycheck Protection Program loan that was intended to help small businesses cover expenses and retain […]

Plunging prices have wreaked havoc on Texas companies struggling to avoid a wave of bankruptcies that has ravished the industry during the past five years, leaving them ripe takeover targets for rivals from China and […]

Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday. Economists surveyed by Dow Jones expected the advanced retail […]

WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses […]

WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence […]

The IRS has paid out more than $207 billion in coronavirus relief payments to individual taxpayers, as part of the $2 trillion package passed by Congress known as the CARES Act. And among the recipients […]