New York (CNN Business)The US unemployment rate surprisingly fell to 13.3% in May, as the economy gained 2.5 million jobs. The labor market rebounded from April’s drastic losses, when a revised 20.7 million jobs vanished. The unemployment rate last month soared to 14.7% as businesses shut […]
Hong Kong (CNN)When China announced a 6.6% increase in its military budget last week while cutting substantially in other areas, analysts said it made one thing clear: Beijing senses an increasing security threat and is giving the People’s Liberation Army the military muscle to deal with […]
New York (CNN Business)The economy has gone from President Donald Trump’s greatest political asset to perhaps his biggest weakness. Unemployment is spiking at an unprecedented rate. Consumer spending is vanishing. And GDP is collapsing. History shows that dreadful economic trends like these spell doom for sitting presidents […]
It took 10 years for the U.S. to create 20 million jobs after the housing crisis and recession. It took just one month for the coronavirus pandemic to destroy that job growth. According to MarketWatch, more than 5 million citizens have filed for unemployment benefits for a third […]
As the coronavirus pandemic shatters the economy and redraws society, policymakers are scrambling to find ways to soften the economic gut punch. This means policies once considered fringe are suddenly racing up the mainstream political agenda. Universal basic income ― the idea of giving […]
Only 47% of firms surveyed by the National Association for Business Economics reported rising sales in the last quarter of the year, down from 61% the previous quarter, while the number of businesses reporting falling sales nearly tripled, from 6% to 17%. The holiday […]