The U.S. Has Already Lost More Than 100,000 Oil And Gas Jobs
The US oil and gas labor market is amongst the world’s most severely hit by the downturn that the Covid-19 pandemic has brought, a Rystad Energy analysis of the latest Continue Reading
German economy to contract more sharply in second quarter than in first quarter: ministry
Germany’s economic output will fall further in the second quarter than in the first but the easing of coronavirus-related restrictions and leading indicators suggest the trough has been passed, the Continue Reading
Wall Street plunges to close with biggest one-day loss since mid-March
Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve. All three major U.S. stock Continue Reading
A month into reopening, no clear turn for U.S. economy or pandemic
A month into efforts to broadly reopen the U.S. economy there is little clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress Continue Reading
US Unemployment Benefits: 1.5 Million Filed Claims Last Week
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UK economy shrank by a quarter in depths of lockdown
Britain’s economy shrank by a quarter in the March-April period as entire sectors were shuttered by the coronavirus lockdown, reaching what looks likely to be the bottom of a “catastrophic” Continue Reading
Record-breaking plunge in eurozone industrial output
Eurozone industrial production plunged by a record 17.1 per cent in April, as the coronavirus pandemic caused major disruption to businesses across almost all manufacturing and construction sectors of the Continue Reading
China’s Factory-Gate Deflation Accelerates
China’s industrial deflation worsened in May, with factory-gate prices falling at their fastest pace in more than four years as the coronavirus pandemic crushed global demand for commodities. The country’s Continue Reading
Hard-hit retailers projected to shutter as many as 25,000 stores this year, mostly in malls
Consumers may be eager to hit their nearest reopened mall, but it could already be too late for many struggling retailers. U.S. retailers will shutter 20,000 to 25,000 stores this Continue Reading
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 Continue Reading