The U.S. economy added 2.5M jobs in May as the U.S. economy reopened businesses shuttered by the coronavirus pandemic. 8 million job losses were forecast.
Author: Paul Davidson, USA TODAY
‘Signs of stabilization’: Hiring picks up in these industries as coronavirus layoffs ease and states reopen
As COVID-19-related layoffs ease, hiring is picking up in some industries
Another 1.9 million workers seek jobless benefits as layoffs persist even as states reopen economies
1.9 million workers file for unemployment even as states begin letting businesses reopen after coronavirus shutdowns. Claims are a gauge of layoffs.
Laid-off workers start side hustles, business ventures to survive amid COVID-19 pandemic
Americans laid off because of the coronavirus are scrambling for part-time jobs and new business ventures to make some extra money and survive.
Another 3 million Americans file jobless claims as layoffs continue to ravage economy
Another 3 million workers sought unemployment last week as relentless string of layoffs continued. More than 36 million have filed claims in 8 weeks.
There may be no Social Security cost-of-living increase next year, early estimate shows
Social Security beneficiaries may receive no cost-of-living increase next year because of unusually low inflation, a preliminary estimate shows.
With COVID-19 threatening a long recession and weak recovery, Fed’s Powell vows to use tools to fullest to avoid pain
Fed Chair Powell cited the risk the coronavirus could mean ‘a prolonged recession and weak recovery.’ He said Fed will use its tools “to the fullest.”
Layoffs are easing but remain at historic levels as millions likely filed for unemployment last week
Economists estimate another 2.5 million initial jobless claims were filed last week. The claims are a reliable measure of layoffs.
Consumer prices had their biggest drop ever. Is that a good thing?
A core measure of consumer prices posted the sharpest decline on record because of COVID-19. But it may not last and it’s no reason to celebrate.
Unemployment soars to 14.7%, job losses reach 20.5 million in April as coronavirus pandemic spreads
Some 30% of America’s economy has evaporated, leading to 20.5 million job losses and soaring unemployment.