Citing jobs, Trump claims victory over virus, econ collapse
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 to let schools, gyms, bars reopen next week with modifications
California will allow schools, day camps, bars, gyms and professional sports with modifications to begin reopening starting next Friday.
Wall Street's rally zooms higher after surprise gain in jobs
The report gives credence to the building optimism among stock investors that the economy can recover relatively quickly from its current hole.
FTC warns of ‘large scale’ unemployment fraud scam amid coronavirus pandemic
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.
1.9 million seek jobless aid even as reopenings slow layoffs
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.
US private sector lost 2.7M jobs in May
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.
Stocks fight for gains after Trump vows to quell rioting
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.
Coronavirus could cause multitrillion-dollar decline in US economic output, new report shows
CBO expects a 'significant markdown' in GDP over the coming decade.
Stocks shrug off weekend riots, June begins on high note
ISM Manufacturing rose to 43.1 in May.
Small business owners can now apply for PPP loan forgiveness: Everything to know
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.
Struggling to pay your mortgage? Credible CEO on 3 tips homeowners need to know
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.
Sporting goods industry hit or miss during pandemic
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.
Stocks jump for month as oil posts record gain
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.
New plan aims to help small businesses in rural, minority communities
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.
Most TJ Maxx, Marshalls and HomeGoods stores could be reopened by end of June, company says
The company, which also owns Marshalls and HomeGoods, made the announcement in a recent press release.
Stocks retreat as Trump preps social media and China crackdowns
The Dow Jones Industrial Average fell 148 points, or 0.58 percent, while the S&P 500 slipped 0.21 percent.
41 million have lost jobs since virus hit, but layoffs slow
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
US economy shrank at 5% annual rate in Q1
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.
Americans tapping retirement savings after coronavirus-led job loss, study finds
The sudden loss in income is causing a growing number of Americans to tap their retirement savings accounts.
It’s not junk mail: Coronavirus stimulus payment debit cards come in plain envelope
Some have reportedly mistaken their Economic Impact Payment debit cards as junk mail after being confused by the envelope.