economy

Read More: March jobs report numbers might appear better than reality Coronavirus puts 4.4 million more out of work, bringing crisis total to 26 million US workers file 1.5 million jobless claims as crisis total tops 44 million US workers file 1.3 million jobless claims as coronavirus total tops 51 million

Read More: Neiman Marcus to file for bankruptcy as soon as this week: sources US retail sales set another grim record amid coronavirus crisis Consumer spending plunges as Americans hoard cash amid coronavirus Retail sales surge record 18 percent as coronavirus lockdowns ease

Retail sales rebounded in May in the largest monthly jump on record as U.S. shoppers took advantage of many states lifting business closures and stay at home orders put in place to combat the coronavirus pandemic. Retail sales jumped a record 17.7 percent from April to May, the Commerce Department said Tuesday, blowing past the 8 …

US retail sales roared back from record losses last month as states eased coronavirus lockdowns and stores reopened, new data show. Retail and food service sales surged a record 17.7 percent to $485.5 billion in May after plunging 14.7 percent in April amid pandemic restrictions that shut shoppers in their homes, the US Department of …

Systemic racism is choking the US economy by preventing all Americans from fully participating in it, top central bankers say. The heads of two regional Federal Reserve banks recently made economic arguments against racism amid both raging protests against police brutality and the coronavirus pandemic that has disproportionately affected black people. The Fed chiefs contend …

The Labor Department announced Thursday that 1.5 million Americans filed new unemployment claims last week, the tenth straight week of declining jobless numbers since the economy was forced to shutter due to the coronavirus pandemic. Thursday’s numbers were lower than most estimates, falling by 355,000 from the previous week’s total of 1.9 million. Continuing jobless …

Some 1.5 million Americans applied for unemployment benefits last week even as the US emerged from its coronavirus lockdown, the feds said Thursday. Thursday’s figures from the US Department of Labor show more than 44 million people — or roughly 28 percent of the US workforce — tried to join the nation’s unemployment rolls in …

The Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5 percent decline in gross domestic product this year, a 9.3 percent unemployment rate at year’s end — and no interest rate increases through 2022. In the first economic …

The dollar dropped to a three-month low on Wednesday as speculation increased that the Federal Reserve will announce later in the session it intends to keep the recent rise in bond yields in check. Concern about possible measures or even a simple statement of intent by the Fed to hold down the yields of US …

A second round of coronavirus infections could cripple the global economy’s recovery from the worst recession in nearly a century, the Organization for Economic Cooperation and Development said Wednesday. The influential international group released a new economic forecast warning of severe consequences if COVID-19 cases spike as countries ease lockdowns meant to control the deadly …