Americans tapping retirement savings after coronavirus-led job loss, study finds
The sudden loss in income is causing a growing number of Americans to tap their retirement savings accounts.
Stocks pare gains fueled by America's reopening
U.S. equity markets were mixed Wednesday as U.S. states continued with their plans to reopen America.
Pennsylvania unemployment rate hits 15.1% as payrolls collapse
Pennsylvania’s unemployment rate more than doubled to 15.1% in April, up from 5.8% in March, the state Department of Labor and Industry said Friday.
Nearly 39 million have sought US jobless aid since virus hit
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Stocks rally as more states reopen economies
U.S. equity markets maintained gains Wednesday even though the Federal Reserve, in the April minutes, warned the coronavirus may carry 'considerable risk' for the U.S. economy.
Change.org petition urges Joe Biden to endorse $2K monthly stimulus income amid COVID-19
A Change.org petition aimed at getting 2020 presidential candidate and former Vice President Joe Biden to publicly endorse a “universal basic income” of $2,000 per month for every U.S. resident.
Stocks reverse course as investors take profits
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.
IRS to issue coronavirus stimulus payments on prepaid debit card
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.
Coronavirus pandemic puts Social Security at risk of insolvency by 2030
Bipartisan Policy Institute estimated that the depletion date would jump from 2035 to 2029.
Target extends $2-an-hour pay increase for workers through July 4
The pay bump will last into the summer, two months longer than originally announced.
Office Depot closing stores, laying off 13,000 workers
Office Depot announced a restructuring plan that includes closing stores and laying off about 13,100 employees by 2023.
JCPenney files for bankruptcy as coronavirus pushes retailer over edge
Retailer JCPenney filed for Chapter 11 bankruptcy protection after the coronavirus pandemic forced stores to shut, the company announced Friday evening, joining J. Crew and Neiman Marcus.
Industrial production plunges unprecedented 11.2% in April
Industry was running at 64.9% of capacity last month, shattering the previous record low set in the Great Recession year 2009. Factory capacity utilization also hit a record low 61.1%.
US retail sales plunged 16% in April as virus froze economy
U.S. retail sales tumbled 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the country and weighed down a sinking economy.
3 million more US layoffs intensify fears of lasting damage
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.
UN forecasts pandemic to shrink world economy by 3.2 percent
The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s.
Taxpayers foot bill to supply Pa. legislators, army of aides
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.
Distinct possibility: ‘Temporary’ layoffs may be permanent
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.
Unemployment 'could be' nearing Great Depression levels: Mnuchin
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.
Lost your job? Here's what you need to know
Nearly 33.5 million Americans have lost their jobs and applied for unemployment benefits in the past 7 weeks — a stunning record high that reflects the near-complete shutdown of the U.S. economy.