economy

The number of Americans applying for unemployment benefits topped 1 million for the twentieth straight week — bringing the total number of initial jobless claims filed during the coronavirus pandemic to more than 55 million. An additional 1.186 million people filed for unemployment last week, according to the US Department of Labor. The unemployment rate …

Absent a deal with Microsoft or another U.S. company TikTok will have to close its U.S. operations by Sept. 15, President Trump said Monday. “I don’t mind whether it’s Microsoft or someone else, a big company, a secure company, a very American company buys it,” Trump told reporters at the White House. “It’ll close down …

White House Chief of Staff Mark Meadows suggested Monday that President Trump will issue executive orders regarding another wave of coronavirus relief should negotiations with Democrats on another relief package fail. “This president will do more in the next four weeks than Joe Biden and his team did in the last 40 years, so you …

Many small businesses across the country face near-certain catastrophe if they do not receive Federal aid soon, a Monday letter signed by some of the biggest names in business claims. Mom and pop shops face “a wave of permanent closures” by Labor Day if the government doesn’t step in with a comprehensive recovery program, according …

Following news that the United States had suffered its worst-ever GDP contraction amid the coronavirus pandemic, both MSNBC anchor Brian Williams and CNN anchor Chris Cuomo incorrectly characterized the numbers as they took the opportunity to criticize President Trump. The Commerce Department said Thursday that national gross domestic product fell 9.5 percent from April through …

The U.S. economy suffered its largest contraction on record in the second quarter as the country suffered in the throes of the coronavirus pandemic and states issued lockdown orders, ordering Americans to stay home and businesses to close. Gross domestic product fell 9.5 percent from April through June, the Commerce Department said Thursday, the largest …

Some 1.43 million Americans applied for unemployment benefits last week, pushing the number of initial jobless claims filed during the coronavirus pandemic above 54 million, new data show. Last week marked the second consecutive week with an increase in new jobless filings, a further indication that the economic recovery from the pandemic is faltering. “Jobs …

The US economy suffered its worst blow since the Great Depression in the second quarter as the coronavirus crisis brought the country to a standstill, the feds said Thursday. The nation’s gross domestic product — the value of all goods and services produced here — plunged by an annual rate of 32.9 percent from April …

Senate Republicans criticized their party’s own coronavirus relief bill in public comments and during a private lunch with Senate GOP leadership on Tuesday. The disagreements could make negotiations with House Democrats over the legislation even more tricky, with enhanced federal unemployment benefits set to end on July 31 and a moratorium on evictions for renters …

White House economic advisor Larry Kudlow said Sunday that the coronavirus relief package being rafted by Senate Republicans will include a second round of direct payments to Americans as well as an extension of the moratorium on evictions for renters. “There’s a $1,200 check coming, that’s going to be part of the new package,” Kudlow …