Economy

The number of Americans applying for unemployment benefits fell below 1 million last week for the first time since the coronavirus pandemic started in mid-March.

The uptick was about twice what economists expected. But inflation remains in check: Consumer prices are up just 1% over the past year.

The iconic summer job for high school and college students has been on the wane for nearly 20 years. But the pandemic is squeezing even more young people out of the workforce.

The fate of a second stimulus check was thrown into uncertainty last week when White House officials and Democratic leaders missed a self-imposed deadline to cut a deal on another round of emergency coronavirus aid.

Amazon, celebrating the boom in e-commerce, is in discussions with Simon Property Group, the largest U.S. mall owner by number of malls with 204 properties, the Journal reported, citing people familiar with the matter.

The COVID-19 outbreak and resulting economic upheaval have thrown millions of lives into disarray. Industries have collapsed, businesses closed, jobs disappeared. Compounding the misery is a question no one can answer: When will this all be over?

As the coronavirus continues to transform a vast swath of the economy, it's becoming evident that millions of Americans face the prospect of a permanent job loss that will force some to seek work with new industries or in new occupations.

While Congress is deadlocked on another coronavirus relief package that's widely expected to include a second stimulus check, millions of Americans are still awaiting the arrival of their first $1,200 cash payment.

The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is stalling hiring and slowing an economic rebound.

After more than a week's worth of meetings, at least some clarity is coming to bipartisan Washington talks on a huge COVID-19 response bill.

Around the country, across industries and occupations, millions of Americans thrown out of work because of the coronavirus are straining to afford the basics now that an extra $600 a week in federal unemployment benefits has expired.

Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired.

Housing advocates fear that they could see a wave of evictions in the coming months, as states end moratoriums put in place during the coronavirus pandemic.

The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of 52.6. Any reading above 50 signals that U.S. manufacturing is expanding.

Frustrated congressional negotiators of a massive coronavirus relief bill are facing new pressure with Thursday's brutal economic news and the approaching lapse in a $600 per-week COVID-19 jobless benefit.

The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday.

Restaurants, bars and other merchants struggling to stay afloat during the coronavirus pandemic are desperately reaching out for a lifeline from insurers who say they are being miscast as potential saviors.