The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as an economy grounded to a halt by the coronavirus pandemic throws millions out of..
The U.S. Labor Department showed 3.3 million Americans filed for unemployment for the week ending March 21.
According to Business Insider that's a staggering increase in unemployment cases.
In a CNBC..
Financial markets around the world took another hammering on Monday as a rising tide of national coronavirus lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to..
Large companies have put hundreds of thousands of staff on unpaid leave this week, bowing to the reality of a prolonged shutdown and setting the scene for another historic high in jobless claims when.. bizjournals - Published
· *US stocks fell sharply on Wednesday after President Donald Trump told the country to brace for a "very, very painful two weeks" amid the coronavirus pandemic.*
· *The White House projected that.. Business Insider - Published
By Chan Kung*
With the spread of the novel coronavirus (Covid-19), extreme locking down measures have been ongoing in various countries. Poland, previously eager towards the European Union, has now.. Eurasia Review - Published
· Private-sector firms cut 27,000 jobs in the month ended March 12, according to a Wednesday report from ADP.
· The release marks the metric's first decline since 2017 and suggests the labor market.. Business Insider - Published
· *Economists expect that unemployment data released Thursday could exceed last week's blockbuster report showing record layoffs amid the coronavirus pandemic. *
· *Estimates range from about.. Business Insider - Published
· *Mortgage applications to buy a home fell 11% last week and 24% from a year ago, according to a survey released Wednesday by the Mortgage Bankers Association. *
· *"The bleaker economic.. Business Insider - Published
· *US stocks declined on Tuesday as investors weighed a longer-than-expected recovery from the escalating coronavirus outbreak.*
· *The weak trading came as major banks revised their second-quarter.. Business Insider - Published
Last week's record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new.. Reuters India - Published Also reported by •Reuters
Goldman Sachs said on Tuesday the second-quarter U.S. economic decline would be much greater than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high.. Reuters - Published Also reported by •Reuters India
· Apple may be considering delaying the iPhone 12's launch because it's concerned that consumer demand for smartphone upgrades may be low following the coronavirus outbreak and economic fallout.
·.. Business Insider - Published
· *US stocks slipped on Tuesday as investors weighed a longer-than-expected recovery from the escalating coronavirus outbreak.*
· *The losses came as major banks revised their second-quarter GDP.. Business Insider - Published
· *Sixty-six percent of investors have not touched their stock portfolios even amid the coronavirus market meltdown, according to a survey released Tuesday by Bankrate. *
· *Still, Americans.. Business Insider - Published
· Weekly jobless claims are set to hit a second-straight record as the coronavirus further clamps down on the frozen US economy, experts surveyed by Bloomberg said.
· Thursday's claims report will.. Business Insider - Published
· US gross domestic product will shrink by 34% in the second quarter as the coronavirus fuels a worse-than-expected hit to the labor market, Goldman Sachs said Tuesday.
· The bank initially called.. Business Insider - Published
The coronavirus crisis already is testing America's ingenuity and survival instincts in ways unseen since the Great Depression, a trial by fire that is unlikely to soon abate if today's U.S. Department.. bizjournals - Published
· Demand for same-day pay has gone up amid the coronavirus pandemic, which has led to record jobless claims in the US.
· In recent years, startups like DailyPay and Earnin have cropped up offering.. Business Insider - Published
· *US stocks rose Monday as investors digested a** slew of updates around the coronavirus pandemic.*
· *Healthcare stocks led gains, rallying on developments in rapid testing and a potential vaccine.. Business Insider - Published
· *More than 47 million Americans could lose their jobs in the second quarter amid the coronavirus pandemic, sending the unemployment rate to 32%, according to a recent study from the Federal Reserve.. Business Insider - Published
A look at some of the key business events and economic indicators upcoming this week:
The Conference Board issues its latest monthly reading on U.S. consumer confidence.. SeattlePI.com - Published Also reported by •Seattle Times
· *Economists say the US economy is either entering a recession or already in one, but the way it rebounds could take several forms.*
· *Experts have turned to the alphabet to describe how GDP,.. Business Insider - Published
· *Major US stock indexes slipped on Friday as coronavirus infections in the US increased to outnumber those in China.*
· *Investors also further digested dire jobless-claims data and awaited.. Business Insider - Published
The brief rebound in oil prices was never going to last in the current environment, and as the global crude glut nears historic highs, prices are heading towards $20 (Click to enlarge) (Click to.. OilPrice.com - Published
· Shalin Madan, the founder and chief investment officer of Bodhi Tree Asset Management, thinks the coronavirus will kickstart an unwind of an extremely levered US economy.
· In an exclusive.. Business Insider - Published
· The House passed the Coronavirus Aid, Relief, and Economic Security, or CARES, Act on Friday, sending the bill to the White House for President Donald Trump to unleash $2 trillion in stimulus for.. Business Insider - Published
· *Major US stock indices slipped on Friday morning as coronavirus infections the US outnumbered those in China for the first time.*
· *Investors are also digesting dire jobless claims data.. Business Insider - Published
Gold eased on Friday after five straight days of gains, but was still set for its largest weekly rise since December 2008 on safe haven demand as the coronavirus led to a surge in U.S. jobless claims.. Reuters India - Published
· The $2 trillion coronavirus bill Congress is set to pass this week is not a stimulus, it is a rescue package. It is not meant to bolster the American economy, it's meant to save it.
· With this.. Business Insider - Published
· *Stocks fell on Friday as surging unemployment and novel coronavirus cases in the US overpowered hopes for a $2 trillion stimulus bill to mitigate the pandemic's fallout.*
· *Initial jobless.. Business Insider - Published
Gold fell on Friday as investors booked profits, but was set for its best week since December 2008 as record high U.S. jobless claims due to the coronavirus fuelled hopes for more stimulus to stem the.. Reuters India - Published
(Natural News) A total of 3.2 million people filed for unemployment benefits last week as the economic slowdown caused by the coronavirus outbreak forced layoffs around the U.S. last week. The.. NaturalNews.com - Published
WASHINGTON (AP) — With rare bipartisanship and speed, Washington is about to deliver massive, unprecedented legislation to speed help to individuals and businesses as the coronavirus pandemic takes a.. SeattlePI.com - Published
Asian stock markets are mostly higher on Friday following the following the overnight gains on Wall Street after the U.S. Senate finally voted to approve a massive $2 trillion stimulus package in.. RTTNews - Published