All Economy
How ad hoc supply workarounds became US pandemic responseU.S. manufacturers are adapting to produce medical equipment to help fight COVID-19 amid a fitful federal response.聽
First LookGlobal economy flooded with resources and resolve to meet virusWide measures are being taken globally to boost economic performance and support failing businesses in response to the coronavirus. Here's a roundup of the latest developments.
First LookHow small does a 'small business' need to be for financial aid?National hotel, restaurant, and service聽chains are eligible for the government's聽$349 billion聽Paycheck Protection Program meant to support small businesses during shutdowns. Critics worry these industry giants will overshadow mom-and-pop shops.聽
First LookRecord 6.6 million file for unemployment as US economy slowsThe unprecedented layoffs lead many economists to forecast the U.S. unemployment rate could spike to as high as 15% this month, breaking records set during a deep recession in 1982.
FocusFaces of the new jobs crisis, from restaurants to real estateA record 10 million workers filed U.S. unemployment claims in the past two weeks. Here are the people confronting the coronavirus downturn.
The ExplainerCoronavirus and recession: How is this economic crisis different?In order to rein in the coronavirus pandemic, the United States is steering into a recession. That makes the current economic crisis very different.
As jobless numbers spike, a question rises: When can economy reopen?A record 3.3 million Americans filed initial jobless claims in the past week, four times the previous high, amid efforts to contain the coronavirus.
First LookSafety net? Record 3.3 million people seek unemployment benefitsAfter massive coronavirus layoffs, economists say the U.S. unemployment rate will be near 13% by May, the highest since the 1930s. One provision in the $2 trillion federal rescue bill offers an extra $600 a week on top of unemployment aid from states.
First LookFederal Reserve unleashes unprecedented support for US economyThe Federal Reserve's new programs go beyond any rescue attempt done during the 2008 crisis to both stabilize the economy and alleviate panic in financial markets. But economists warn that Congress鈥� fiscal support is essential and should come soon.
The next Tesla? Why Ohio鈥檚 鈥榁oltage Valley鈥� has high hopes.Lordstown Motors is retooling a shuttered GM factory to make electric pickup trucks. Success may hinge on federal policy as well as local ingenuity.
Grocery clerks get a new title: Emergency respondersAs unexpected front-line workers in a crisis, food store clerks win praise, respect, and even formal 鈥渆mergency worker鈥� recognition in some states.
FocusFrom Milan to Miami, locked-in nations try to soften an economic blowA global health crisis has become an economic crisis spurring governments to open checkbooks, not to avert a recession as much as to lessen severity.聽
First LookA temporary government stimulus brings stock market stabilityGovernments worldwide are quickly moving to establish financial aid packages to stabilize stock markets. The hope is to avoid a long-term economic recession due to coronavirus lockdowns.
Not just for the military: More chaplains come to employees鈥� aidWorkplace chaplains are becoming more common as some companies look to supplement employee assistance programs.
First Look'Despite whipping out the big guns' Dow dives 2,997 pointsVolatility is the new normal in Wall Street as the stock market plunged again for its worst day in more than three decades. But President Donald Trump and professional investors say the stock market could bounce back strongly as the virus gets under control.聽
First LookPreventative move? US Fed Reserve abruptly cuts interest ratesConcerned about slowing economic activity, the U.S. Federal Reserve made a surprise move Sunday to cut rates and inject $700B into bond markets.聽
First LookWorst market day since 1987; wide-scale event cancellationWall Street ended its unprecedented bull-market run of nearly 11 years Thursday when the S&P 500 plummeted 9.5%. The cancellations of sports tournaments, cultural events, travel, and more gain momentum worldwide.
When fear goes viral: Battling prejudice in ChinatownFear of COVID-19 can fan racism. But our reporter finds that communities around the world are countering prejudice with acts of kindness and gratitude.
FocusWhy COVID-19 is likely to change globalization, not reverse itCan the world鈥檚 connecting fabric be undone by the coronavirus? Business experts say the benefits of trade are undiminished.
First LookBlack Monday: Why global stocks and oil prices plungedThe combination of the Russia vs. Saudi Arabia oil price war and a crash in equities triggered by coronavirus economic concerns led to what analysts are calling a "Black Monday." Investors expect the European Central Bank聽 to announce new stimulus measures.