The Chinese economy's first-ever contraction in history belies hopes of a rapid return to the growth path for the global economy.
U.S. stocks closed higher on Thursday although more than 5.2 million Americans filed for unemployment last week
The jobless rate in Australia is expected to more than double by mid-year
Some 5.245 million Americans filed unemployment claims last week, bringing the four week total to more than 22 million and wiping out all job gains since the Great Recession.
U.S. stocks were mixed Thursday although more than 5.2 million Americans filed for unemployment last week
Since there is nothing fundamentally wrong with the economy, many are hoping that the recovery will be just as swift as the downturn itself, once the outbreak is under control or a vaccine is found.
Reeling states leave jobless Americans waiting for help
G20 agrees to debt relief for poorest countries amid pandemic
Millions of American households have fallen behind on their mortgage payments
Virus sends Germany into recession as curbs to be extended to May 3
The IMF is forecasting a 3% drop in global GDP this year. That compares to a 0.1% falloff in 2009, the height of the Great Recession.
Australian unemployment rate to double as virus hammers economy
Terrible or merely bad? Investors brace for ugly Q1 earnings
A slew of experts expect the US economy to crater in the second quarter
US economy purged 17 mn jobs amid pandemic
U.S. stocks rose on Thursday as 6.6 million Americans filed for unemployment last week, although the Fed has taken new steps to support the economy.
The massive jobless claims coming in every week since the beginning of the coronavirus lockdown cast a cloud over President Trump's re-election chances. Or do they?
Americans go jobless as coronavirus continues. As many as 20 million workers could be unemployed as April moves forward.
U.S. stocks rose on Thursday as 6.6 million Americans filed for unemployment last week, although the Fed takes steps to support economy.
New US jobless data to add to skyrocketing unemployment
Florida residents risked exposure to the coronavirus to line up for unemployment benefits after a state website for the benefits crashed.
Coronavirus plunges world economy into brutal recession