The unemployment rate dropped to a better-than-expected 13.3%, but that is still on par with what the nation witnessed during the Great Depression.
California will allow schools, day camps, bars, gyms and professional sports with modifications to begin reopening starting next Friday.
The report gives credence to the building optimism among stock investors that the economy can recover relatively quickly from its current hole.
The Federal Trade Commission (FTC) is warning of a “large-scale scam erupting in the midst of the coronavirus pandemic” involving impostors who are filing claims for unemployment benefits using the personal information of people who have not filed any claims.
Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.
Private employers slashed 2.7 million jobs in May as the coronavirus-induced lockdown devastated the U.S. economy and labor market, according to the ADP National Employment Report released Wednesday.
U.S. equity markets fought for gains Tuesday after President Trump threatened to deploy the military to quell violence and looting in cities across America after the death of a black man in police custody in Minneapolis.
CBO expects a 'significant markdown' in GDP over the coming decade.
ISM Manufacturing rose to 43.1 in May.
Two months after the federal government rolled out the Paycheck Protection Program, small business owners that tapped the coronavirus aid can officially have their loans forgiven.
As the coronavirus pandemic cuts deep into Americans’ finances, millions of homeowners throughout the country are struggling to pay — or skipping entirely — their mortgage payments.
The pandemic has had a devastating impact on retail as businesses across the country were forced to close their doors for weeks at a time. In the sporting goods industry, the impact has depended on the focus of the business.
U.S. equity markets curbed the bulk of their losses Friday after President Trump announced a new wave of crackdown efforts on China, but stopped short of instituting new sanctions or upending the trade deal between the two countries.
Small businesses in low-income neighborhoods and rural communities received some big help on Thursday, as the Small Business Administration (SBA) announced a $10 billion plan to directly help these businesses get up and running once again.
The company, which also owns Marshalls and HomeGoods, made the announcement in a recent press release.
The Dow Jones Industrial Average fell 148 points, or 0.58 percent, while the S&P 500 slipped 0.21 percent.
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
It was the biggest quarterly decline in more than a decade, since an 8.4% fall in 2008 during the depths of the financial crisis.
The sudden loss in income is causing a growing number of Americans to tap their retirement savings accounts.
Some have reportedly mistaken their Economic Impact Payment debit cards as junk mail after being confused by the envelope.