Recessions and depressions

A woman walks past a boutique with a sale sign, Thursday, June 4, 2020, in Cleveland Heights, Ohio. The state says more than 34,000 Ohioans filed unemployment claims during the last week of May. That is the lowest figure since Ohio's stay-at-home orders depressed the economy and led to widespread layoffs. (AP Photo/Tony Dejak)
June 04, 2020 - 11:01 pm
WASHINGTON (AP) — America's workers likely suffered another devastating blow in May, with millions more jobs lost to the viral pandemic and an unemployment rate near or even above 20% for the first time since the Great Depression. Economists have forecast that the government will report Friday that...
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Dealers in masks wait for customers before the reopening of the D Las Vegas hotel and casino, Wednesday, June 3, 2020, in Las Vegas. Casinos were allowed to reopen on Thursday after temporary closures as a precaution against the coronavirus. (AP Photo/John Locher)
June 04, 2020 - 11:29 am
LAS VEGAS (AP) — The casino coronavirus closure has ended. Cards are being dealt, dice are rolling and slot machines flashed and jingled for the first customers who started gambling again early Thursday in Las Vegas and throughout Nevada. “The past few months have presented our city with an...
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In this Wednesday, June 3, 2020 photo, Juan Santos stocks shelves at the Presidente Supermarket in the Little Havana neighborhood of Miami. The U.S. government is set to issue its latest report on the layoffs that have left millions unemployed but have steadily slowed as many businesses have begun to reopen and to rehire some laid-off workers. (AP Photo/Wilfredo Lee)
The Associated Press
June 04, 2020 - 9:05 am
WASHINGTON (AP) — 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 of layoffs. The total number of people who are receiving jobless aid rose slightly to 21...
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FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y. Huh, File)
June 03, 2020 - 2:01 pm
WASHINGTON (AP) — 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 estimated to have been lost. Unemployment could near 20%. And potentially fewer than half of all...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)
June 03, 2020 - 11:33 am
Stocks are rising again Wednesday on optimism that the economy can climb out of its current hole more quickly than earlier feared. The S&P 500 was up 1.1% in midday trading, heading for its fourth straight gain as lockdowns loosen around the world and raise hopes for a coming economic recovery...
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A waitress wearing a face mask to protect against coronavirus carries out a plate of fish to serve at a seafood restaurant in Marseille, southern France, Tuesday, June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. (AP Photo/Daniel Cole)
June 03, 2020 - 9:44 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TESTING THE WATERS: Businesses are starting reopen...
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German Chancellor Angela Merkel, right, and German Finance Minister Olaf Scholz, left, attend the weekly cabinet meeting at the Chancellery in Berlin, Germany, Wednesday, June 3, 2020. (Michael Kappeler/DPA via AP, Pool)
June 03, 2020 - 5:40 am
BERLIN (AP) — Europe's unemployment rate ticked up modestly last month, contained by use of labor programs that have kept millions of workers on payrolls and as some people stopped looking for work, official data showed Wednesday. The jobless rate in the 19 countries that use the euro rose to 7.3%...
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Ryongwang Senior Middle School students have their temperatures checked before entering the school in Pyongyang, North Korea, Wednesday, June 3, 2020. All the schools in the country start their lessons this month after delays over concern about the new coronavirus. (AP Photo/Jon Chol Jin)
June 03, 2020 - 5:07 am
SEOUL, South Korea (AP) — South Korea on Wednesday reported 49 new cases of COVID-19, continuing a weekslong resurgence of the virus as the government defended its decision to reopen schools despite health risks. The figures announced by the Korea Centers for Disease Control and Prevention on...
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FILE - In this March 19, 2020, file photo, a man wearing a mask, left, rides a personal transporter past the Reserve Bank of Australia in Sydney. The coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year 2022, and the situation is expected to get worse. (AP Photo/Rick Rycroft, File)
June 03, 2020 - 5:04 am
CANBERRA, Australia (AP) — The coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year, and the situation is expected to get worse. Treasurer Josh Frydenberg said Wednesday the current June quarter will be the second in a row in...
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Police stand guard as protesters rally at the Trump Tower, Monday, June 1, 2020, in Las Vegas, over the death of George Floyd. Floyd, a black man, died after being restrained by Minneapolis police officers on Memorial Day. (AP Photo/John Locher)
The Associated Press
June 01, 2020 - 11:55 pm
WASHINGTON (AP) — Wielding extraordinary federal authority, President Donald Trump threatened the nation’s governors on Monday that he would deploy the military to states if they did not stamp out violent protests over police brutality that have roiled the nation over the past week. His...
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