economy

OPEC members and Russia agreed on Sunday to oil production cuts to stem free-falling prices caused by a trade war between Russia and Saudi Arabia. The agreement will cut worldwide output by 10 million barrels per day, amounting to one tenth of the global supply of oil. U.S. senators have sharply criticized Saudi Arabia over …

Millions of Americans, idled by the coronavirus pandemic, could soon be back at work — and still keeping their social distance. Business leaders and analysts see promising signs of a recovery in the labor markets, and in the coronavirus-crippled economy, by early summer, The Post has learned. “I would hope and pray to God it …

It’s time to plan for a grand reopening of the American economy, and we need to execute it in a safe, methodical and robust way. The country must come back strong in honor of the many lives lost to this horrendous virus and the many who have suffered through it — and as a testament …

The trillions of dollars in cash and loans unleashed by the Federal Reserve and US political leaders in recent weeks is meant to build a financial bridge for the country to get beyond the coronavirus pandemic and restart the economy with little or no long-term damage. But that mammoth effort is still unlikely to change …

US consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain. With the country virtually at a stand-still and the economy rapidly …

The definitive guide to the key events and policies that caused the Great Depression. ew areas of historical research have provoked such intensive study as the causes of America’s Great Depression—and for good reason. Tens of millions of humans suffered intense misery and despair. How bad was the Great Depression? The dimensions of the economic …

Less than half the US jobs lost to the coronavirus crisis will be recovered by the end of next year, a new survey shows. Economists expect non-farm payrolls to shed a monthly average of more than 4.5 million jobs from April through June as the pandemic keeps the economy largely frozen, according to the National …

President Trump has been telling voters that the US economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail to match the speed and severity of the …

Walmart’s China branch announced at an investment conference hosted by the Wuhan city government on Wednesday that it was committing 3 billion yuan ($425 million) to expand its presence in the origin point of the coronavirus pandemic over the next five years. According to Walmart China, the company will be putting up at least four …

More than six million Americans filed jobless claims last week, the second highest number of initial unemployment claims filed in one week since the Department of Labor began tracking the data in 1967. Over 16 million Americans have lost their jobs over the past three weeks as states have closed businesses and implemented social-distancing measures …