Recessions and depressions

June 07, 2020 - 9:35 pm
TOKYO (AP) — Japan’s economy is still in recession but contracted at a smaller rate than initially estimated for the first quarter, according to government data released Monday. The difference was largely because private sector demand had not dropped as much as previously estimated. The Cabinet...
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In this June 1, 2020, photo President Donald Trump returns to the White House after visiting outside St. John's Church in Washington. (AP Photo/Patrick Semansky, File)
June 06, 2020 - 6:56 am
CHICAGO (AP) — President Donald Trump has always been a big numbers guy. He’s proved adept at taking even the grimmest numbers and giving himself a pat on the back or relying on a creative use of data to make himself look good. But his declaration that an unexpected dip in the unemployment rate...
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President Donald Trump speaks as he signs the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House, Friday, June 5, 2020, in Washington. (AP Photo/Evan Vucci)
June 05, 2020 - 8:47 pm
WASHINGTON (AP) — President Donald Trump effectively claimed victory over the economic crisis and COVID-19 on Friday as well as major progress against racial inequality, heartily embracing a better-than-expected jobs report in hopes of convincing a discouraged nation he deserves another four years...
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Barber Luis Garcia walks out of the Castillo Barbershop where a sign "Now Hiring" is displayed, Friday, June 5, 2020, in Lawrence, Mass. The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy and depressed the job market in the wake of the viral pandemic. (AP Photo/Elise Amendola)
The Associated Press
June 05, 2020 - 11:31 am
WASHINGTON (AP) — U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted, triggering a rally Friday on Wall Street and giving President Donald Trump something to boast about amid his reelection bid. The...
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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)
The Associated Press
June 05, 2020 - 7:42 am
WASHINGTON (AP) — The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic. The May job gain suggests that businesses have quickly been...
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An officer checks the temperature of Wannapa Kotabin, a 38-year-old kitchen assistant at an Italian restaurant, in front of Social Security office for claim unemployment benefit in Bangkok, Thailand, Thursday, June 4, 2020. The government ordered all restaurants closed in March to combat the spread of the coronavirus, and Wannapa hasn't worked since. That's the harsh truth facing workers laid off around the world, from software companies in Israel to restaurants in Thailand and car factories in France, whose livelihoods fell victim to a virus-driven recession that's accelerating decline in struggling industries and upheaval across the global workforce. (AP Photo/Sakchai Lalit)
The Associated Press
June 05, 2020 - 2:04 am
BANGKOK (AP) — Factories and stores are reopening, economies are reawakening – but many jobs just aren’t coming back. That’s the harsh truth facing workers laid off around the U.S. and the world, from restaurants in Thailand to car factories in France, whose livelihoods fell victim to a virus-...
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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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