U.S. Lost 701,000 Jobs In March; Much Worse To Come
For the first time in nearly a decade, the economy suffered a net loss of jobs as the coronavirus began to take hold in the country. The unemployment rate shot up to 4.4%.
recession
U.S. Economic Slowdown In Coming Months Expected To Be Worst On Record
Forecasters say the government's aggressive efforts to curtail the spread of the virus will trigger the sharpest slowdown on record. Some see the economy shrinking a staggering 24%.
Tepid U.S. Jobs Report Adds To Economic Jitters
The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.
Manufacturing Shrinks For 1st Time In 3 Years On Trade Tensions
Manufacturing activity in the U.S. shrank last month for the first time in three years. Factories are especially sensitive to international forces, including the ongoing trade wars.
Trump Dismisses Recession Fears, Saying Fed Must Help The Economy
The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
Stock Markets Take A Breather After Steep Drop
Investors paused to catch their breath Thursday after the stock market suffered its worst drop of the year the day before. Consumer spending is still strong, despite signs of a looming recession.
U.K. Economy Shrinks, Taking A Step Toward Recession For First Time Since 2012
If the U.K. sees similar negative growth in the current quarter, the country will officially be deemed to be in a recession.
2-Tiered Wages Under Fire: Workers Challenge Unequal Pay For Equal Work
For years after the Great Recession, employers were reluctant to boost wages. Now a tight labor market is giving workers the leverage they need to demand a larger slice of the nation's economic pie.
Stocks Indexes Drop As Bond Market Flashes Recession Warning
The bond market flashed an ominous warning Friday, as the yield on long-term government debt dipped below that of short-term bills. That unusual situation often signals a recession on the horizon.
Unhappy 10th Anniversary, Great Recession. You Still Hurt Us
The Great Recession began exactly one decade ago this month. Although the economy has been growing steadily for years, the downturn's impact is still deeply felt by millions who lost homes and jobs.