Nearly 2M more jobless claims are forecast, pushing total to more than 42M. But as economy reopens, layoffs are easing and some are returning to work
Author: Paul Davidson, USA TODAY
Unemployment: Nearly 2M more Americans likely filed jobless claims but COVID-19 layoffs are easing
Nearly 2M more jobless claims are forecast, pushing total to more than 42M. But as economy reopens, layoffs are easing and some are returning to work
Laid-off workers start side hustles, business ventures to survive amid COVID-19 pandemic
Americans laid off because of the coronavirus are scrambling for part-time jobs and new business ventures to make some extra money and survive.
There may be no Social Security cost-of-living increase next year, early estimate shows
Social Security beneficiaries may receive no cost-of-living increase next year because of unusually low inflation, a preliminary estimate shows.
Layoffs are easing but remain at historic levels as millions likely filed for unemployment last week
Economists estimate another 2.5 million initial jobless claims were filed last week. The claims are a reliable measure of layoffs.
With COVID-19 threatening a long recession and weak recovery, Fed’s Powell vows to use tools to fullest to avoid pain
Fed Chair Powell cited the risk the coronavirus could mean ‘a prolonged recession and weak recovery.’ He said Fed will use its tools “to the fullest.”
Consumer prices had their biggest drop ever. Is that a good thing?
A core measure of consumer prices posted the sharpest decline on record because of COVID-19. But it may not last and it’s no reason to celebrate.
Unemployment soars to 14.7%, job losses reach 20.5 million in April as coronavirus pandemic spreads
Some 30% of America’s economy has evaporated, leading to 20.5 million job losses and soaring unemployment.
Small, non-bank lender, savior for small firms shunned by large banks, struggles to meet demand
Ready Capital has kept thousands of small businesses waiting for critical loans as it struggled to meet demand
21M job losses, 16% unemployment would reflect just part of the economic damage from the coronavirus
Economists forecast 21.5M job losses and 16% unemployment in April report due Friday. But such numbers don’t account for millions who left labor force.