The U.S. unemployment rate likely shot up to almost 20% in May, a new post World War Two record, with millions more losing their jobs, exposing the horrific human toll Continue Reading
The German economy has passed the trough of its coronavirus recession and is starting to grow again, the Bundesbank said, endorsing the government’s sweeping fiscal stimulus that should underpin the Continue Reading
The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are Continue Reading
The U.S. services sector shrank for a second month in May as the coronavirus pandemic triggered shutdowns and layoffs around the country. Activity did rise from levels last month that Continue Reading
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
The U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdowns, the Congressional Budget Office said Monday. In an analysis Continue Reading
Low-carbon technologies could disrupt global oil demand in the not-too-distant future the way COVID-19 crushed demand during the lockdowns worldwide, Mark Little, chief executive of one of Canada’s largest oil Continue Reading
The U.S. economy contracted 5% in the first quarter of 2020. With the coronavirus crisis continuing into the summer, economists are expecting an even steeper contraction in the second quarter. Continue Reading
The Congressional Budget Office projected on Monday that the pandemic would inflict a devastating long-term blow on the United States economy, costing $7.9 trillion over the next decade. Without adjusting Continue Reading
