Business > Economy

A Dismal Record: Nearly 10 Million Filed For Unemployment In Last 2 Weeks

2 monthes ago   |   By NPR

The staggering number of people claiming jobless benefits set a new record for the second week in a row. Much of the country has been ordered to stay at home, bringing the economy to a lurching halt.
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US jobless claims skyrocket to 6.6 million, marking a 2nd straight weekly record, as coronavirus layoffs persist

US jobless claims skyrocket to 6.6 million, marking a 2nd straight weekly record, as coronavirus layoffs persist

2 monthes ago   |   By Business Insider

US weekly jobless claims spiked to a second consecutive weekly record as coronavirus-induced layoffs persist across the entire country.
6.64 million Americans filed for unemployment insurance in the week ending March 28, the Labor Department reported Thursday.
Economists expect that the US will fall into recession in the second quarter if it isn't already in one. The sky-high jobless claims could raise the unemployment rate by multiple percentage points.
"What is striking about this crisis is how broad, how deep, and how rapid these cuts have been," Julia Pollak, labor economist at...
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Virus exposes sharp economic divide: College vs. non-college

Virus exposes sharp economic divide: College vs. non-college

The damage inflicted on the job market since February has highlighted a widening line of inequality based on education. Read more ...

A Maine factory says it will have to discard all coronavirus swabs made...

A Maine factory says it will have to discard all coronavirus swabs made during Trump's factory tour

Puritan Medical Products, a medical swab manufacturer, will reportedly have to throw away all the coronavirus swabs made during President Trump's visit to the factory on... Read more ...

Photos show where around the world Black Lives Matter and anti-police...

Photos show where around the world Black Lives Matter and anti-police brutality protests are erupting, from Tokyo to Amsterdam

Countries across the globe are erupting in response to the death of George Floyd. From Europe to Asia, to South America, and Australia, protesters in several countries and... Read more ...

Poland hopes to host US troops if they are withdrawn from Germany - PM...

Poland hopes to host US troops if they are withdrawn from Germany - PM Morawiecki

Warsaw has set its hopes on hosting some of the US troops reportedly preparing to leave Germany on Donald Trump's orders, Poland's prime minister has signaled, amid reports the... Read more ...

Marine Corps officially bans Confederate battle flag on military bases...

Marine Corps officially bans Confederate battle flag on military bases - including on bumper stickers and coffee mugs

The US Marine Corps has officially banned the Confederate battle flag from both public and work spaces on its military bases - including its display on vehicle bumper stickers... Read more ...

US economy adds 2.5 million jobs in May, unemployment falls to 13.3%

US economy adds 2.5 million jobs in May, unemployment falls to 13.3%

The US economy added 2.5 million jobs last month as the nation began its recovery from the coronavirus crisis, the feds said Friday. The nation's unemployment rate dropped to... Read more ...

Twitter blasts Trump for saying it's a ‘great day for George Floyd' after...

Twitter blasts Trump for saying it's a ‘great day for George Floyd' after good US jobs numbers, but his words taken out of context

Twitter erupted in a rage after reports that Donald Trump said the murdered George Floyd would be “happy” about good US jobs figures. It turned out the president wasn't talking... Read more ...

Jeff Bezos responded to an 'offended' customer who wants Amazon to say All...

Jeff Bezos responded to an 'offended' customer who wants Amazon to say All Lives Matter instead of Black Lives Matter: 'My stance won't change'

Amazon CEO Jeff Bezos shared an email exchange he had with a customer upset about the Black Lives Matter banner on Amazon's website. Bezos wrote that the Black Lives Matter... Read more ...

'Greatest miss in forecasting history': 4 economists and strategists react...

'Greatest miss in forecasting history': 4 economists and strategists react to Friday's surprising May jobs report

The May jobs report released Friday from the Labor Department showed the US economy gained 2.5 million jobs and the unemployment rate declined to 13.3%. It was a major surprise... Read more ...

Reddit co-founder resigns from board, urges black replacement

Reddit co-founder resigns from board, urges black replacement

Alexis Ohanian, co-founder of the link-sharing site Reddit, announced his resignation from the company's board of directors Friday and called on the company to replace him with... Read more ...