The sudden loss in income is causing a growing number of Americans to tap their retirement savings accounts.
As Hertz Global Holdings Inc., files for bankruptcy following a near-halt on most travel amid the coronavirus pandemic, rental companies have reportedly begun selling much of their fleets in an attempt to survive the devastating economic impacts of the COVID-19 lockdowns.
Forty-five percent surveyed said they spent more during quarantine.
Parent company L Brands will also close 50 Bath & Body Works stores in U.S. and one in Canada.
U.S. equity markets closed lower across the board giving up earlier gains as investors took profits and reassessed the progress of a potential coronavirus treatment.
The IRS and the U.S. Treasury Department will begin sending economic stimulus payments on preloaded debit cards this week, the Trump administration said on Monday.
Bipartisan Policy Institute estimated that the depletion date would jump from 2035 to 2029.
The outlook is hazy for a second cash payment for Americans who have been impacted by the coronavirus pandemic.
The new Small Business Pulse Survey from the U.S. Census Bureau highlighted the impact COVID-19 is having on small U.S. stores, retailers and businesses.
Roughly 36 million people have now sought jobless aid in just the two months since the coronavirus first forced businesses to close down and shrink their workforces, the government said Thursday.
Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions.
The price index for meats, poultry, fish and eggs increased the most, according to the U.S. Bureau of Labor Statistics.
Two local states are poised to hire at least 1,200 people to assist with contact tracing to assist with detecting and stopping new virus clusters before they get out of control.
It takes hundreds of millions of taxpayer dollars a year for the Pennsylvania General Assembly to maintain one of the country's largest legislative staffs, a small army that needs food, shelter, transportation, office supplies and modern electronics.
Countries in Europe are reopening their economies amid the coronavirus pandemic but in chaotic ways. Life resumed in Paris' iconic streets and schoolchildren returned to class in the Netherlands as countries tried to balance how to reopen economies without rekindling new outbreaks.
"I think there’s a considerable risk of not reopening," Treasury Secretary Steven Mnuchin said. "You’re talking about what would be permanent economic damage to the American public.”
Call it realism or pessimism, but more employers are coming to a reluctant conclusion: Many of the employees they’ve had to lay off in the face of the coronavirus pandemic might not be returning to their old jobs anytime soon.
More than a decade of job gains were erased in April; the stunning job losses are more than double what the U.S. saw during the 2008 financial crisis.
Promises of a big income working from home, especially when the “opportunity” involves an up-front fee or giving your credit card information, “should make you very suspicious,” the FTC says.
The unemployment rate could reach 16% or more. Twenty-one million jobs may have been lost in April.