economy

President Trump said he would push to cap the capital gains tax rate at 15 percent if he is elected to a second term, in comments to Fox News‘s Maria Bartiromo on Thursday. Trump stated earlier this week that his administration was considering a capital gains tax cut as an economic relief measure amid the …

The U.S. Labor Department reported on Thursday that 963,000 workers filed for unemployment benefits last week, the first time jobless claims have fallen below 1,000,000 since March. The drop in claims may fuel hopes that the labor market is improving after the coronavirus pandemic and subsequent mitigation efforts forced mass closures of businesses. Since March …

A conservative think tank ranked New York’s economic outlook the worst in the nation as the state tries to recover from the coronavirus pandemic. The Empire State placed dead last on the American Legislative Exchange Conference’s annual ranking for the seventh straight year largely thanks to its high taxes and hefty debts. New York and …

Some 963,000 million Americans applied for unemployment benefits last week as initial jobless claims dipped below 1 million for the first time since mid-March, the feds said Thursday. But last week’s filings nonetheless drove the number of unemployment claims filed during the coronavirus pandemic above 56 million. New claims fell from 1.191 million the prior …

Uber would be forced to shut down its ride-hailing operations in California if a court ruling that blocks it from classifying its drivers as independent contractors goes into effect, the company said in a court filing. A California judge on Monday granted the state’s request for a preliminary injunction blocking Uber and rival Lyft from …

The British economy suffered a massive contraction from April to June as the coronavirus pandemic plunged the UK into its worst recorded recession, officials said. The country’s gross domestic product plummeted by 20.4 percent in the second quarter, the biggest decline since officials there started keeping quarterly records in 1955, the Office for National Statistics …

President Trump on Monday took aim at Senator Ben Sasse, accusing him of “foolishness” over the Republican senator’s criticism of Trump’s executive actions over the weekend intended to provide economic relief for Americans in the absence of a legislative solution from Congress. “RINO Ben Sasse, who needed my support and endorsement in order to get the Republican …

The US economy’s growth slowed in July, adding just 1.8 million jobs following skyrocketing numbers of COVID-19 cases in states like Texas and Florida. The unemployment rate dropped to 10.2 percent, from 11.1 percent in June, data from the Bureau of Labor Statistics show. The numbers are the first look at the economy following the …

Weekly unemployment claims fell last week to their lowest level since the coronavirus pandemic began, although claims continue to be filed at a rate unprecedented before the U.S. outbreak began. Initial jobless claims totaled 1.186 million for the week ending August 1, below the 1.42 million economists had expected and about 249,000 less than the …

Dr. Anthony Fauci, chief medical advisor for the Trump administration’s coronavirus task force, said Wednesday that the country can overcome the coronavirus without shutting down the economy a second time. “There seems to be a misperception that either you shut down completely and damage a lot of things, mental health, the economy, all kinds of things, …