unemployment

A New York investment firm pitched wealthy investors in recent days on a way to make returns of 22 percent to 175 percent using US government programs designed to help Americans keep their jobs and boost the coronavirus-stricken economy, according to a marketing document seen by Reuters. Following questions posed by Reuters, Arcadia Investment Partners, …

More than six million Americans filed jobless claims last week, the second highest number of initial unemployment claims filed in one week since the Department of Labor began tracking the data in 1967. Over 16 million Americans have lost their jobs over the past three weeks as states have closed businesses and implemented social-distancing measures …

More than 6.6 million people applied for unemployment benefits last week as the coronavirus crisis put nearly 17 million Americans out of work in just three weeks, new federal data show. Last week’s seasonally adjusted total added to an unprecedented surge in initial jobless claims as the pace of filings barely slowed from a record-shattering …

JPMorgan Chase top boss Jamie Dimon on Monday said he sees a “bad recession” in 2020, and that the largest US bank could suspend its dividend if the coronavirus crisis deepens. Dimon, widely regarded as the face of the US banking sector, is the most prominent voice on Wall Street so far to project that …

The shock of the coronavirus is hitting the economy like another Great Depression — and Americans aren’t alone in their misery. A tsunami of job losses and welfare claims in Britain, the European Union and Asia in the last two weeks parallel the 10 million unemployment claims in the US as businesses around the world …

Pan-dammit, the employment numbers for March were truly shocking! That doesn’t understate what can be said about the employment report for last month that was released by the Labor Department Friday morning. It was so shocking, in fact, that it’ll make the experts reconsider how bad the job numbers are going to get in the …

The US economy shed 701,000 jobs last month as the coronavirus crisis brought the nation’s nine-year hiring streak to a screeching halt, new federal data show. The losses in non-farm payrolls reflected a massive contraction from February, when the economy added 273,000 jobs. The unemployment rate rose nearly a full percentage point to 4.4 percent …

Stocks sank for the third day in a row on Thursday as a massive spike in US unemployment claims roiled Wall Street. The Dow Jones industrial average dropped as much as 167.81 points, or 0.8 percent, at the open after the feds revealed more than 6.6 million people filed initial jobless claims last week as …

More than 6.6 million Americans applied for unemployment benefits last week as the coronavirus continued to gut the US labor market, the feds said Thursday. The seasonally adjusted number of initial jobless claims reported by the US Labor Department surpassed the prior week’s record-shattering revised total of 3.3 million — another signal that the pandemic …

US private payrolls dropped in March for the first time in 2 1/2 years, likely as businesses shut down in compliance with strict measures to contain the coronavirus epidemic, supporting economists’ views that the longest employment boom in history probably ended last month. The ADP National Employment Report on Wednesday showed private payrolls fell by …