Economics News Results

  • U.S. Business Bankruptcies Rose 48% in May

    Corporate bankruptcies spiked during May as the coronavirus pandemic slammed the U.S. economy, pushing the number of filings to levels recorded in the wake of the 2007-09 recession. U.S. courts recorded 722 businesses nationwide filing for chapter 11 protection last month, a yearly increase of 48%, according to figures from legal-services firm Epiq Global. In May 2019, a total of 487 businesses filed for that type of bankruptcy, which lets corporations resolve their financial...

  • U.S. Trade Gap Widened in April Amid Coronavirus Disruptions -- 3rd Update

    WASHINGTON-- U.S. exports and imports both posted their largest monthly decreases on record amid coronavirus- related shutdowns around the world. Imports fell 13.7% in April from March, and exports dropped 20.5%, the largest declines since record-keeping began in 1992, the Commerce Department reported Thursday. The trade deficit expanded 16.7% to a seasonally adjusted $49.41 billion.

  • Euro Jumps as ECB Expands Bond-Buying Program -- Update

    The euro climbed near a three-month high against the dollar and yields on southern European debt fell as investors cheered the European Central Bank's expansion of its bond-purchase program. The euro rose 0.8% to $1.1323 after the ECB said Thursday it would increase the size of its Pandemic Emergency Purchase Program by EUR600 billion to buy as much as EUR1.35 trillion of eurozone government and corporate debt through June 2021, putting its stimulus effort in league with...

  • Euro Jumps as ECB Expands Bond-Buying Program

    The euro climbed near a three-month high against the dollar and yields on southern European debt fell as investors cheered the European Central Bank's expansion of its bond-purchase program. The euro rose 0.7% to $1.1306 after the ECB said Thursday it would increase the size of its Pandemic Emergency Purchase Program by EUR600 billion to buy up to EUR1.35 trillion of eurozone government and corporate debt through June 2021, putting its stimulus effort in league with the...

  • Jobless Claims Hold Steady as Economy Slowly Reopens -- 3rd Update

    The number of workers applying for and receiving unemployment benefits was historically high but eased at the end of May, indicating the U.S. labor market has weathered the worst of the economic fallout from the coronavirus pandemic. The ranks of Americans drawing on unemployment benefits ticked up to 21.5 million in the week ended May 23, though the pace of increase significantly slowed from earlier in the crisis, the Labor Department said Thursday. So-called continuing...

  • May Unemployment Rate Seen at 19.5% -- Data Week Ahead

    The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Friday 0830 Nonfarm Payrolls May -8330 K -20500 K 0830 Unemployment Rate May 19.5% 14.7% 0830 Avg.

  • U.S. Trade Gap Widened in April Amid Coronavirus Disruptions -- 2nd Update

    WASHINGTON-- U.S. exports and imports both posted their largest monthly decreases on record amid coronavirus- related shutdowns around the world. Imports decreased 13.7% in April. Exports, meanwhile, fell 20.5% from March.

  • U.S. Productivity Fell at a Revised 0.9% Rate in First Quarter

    U.S. worker productivity slid in the first quarter, according to data released Thursday by the Labor Department, as the coronavirus pandemic suppressed both output and hours worked. --Nonfarm labor productivity declined at a seasonally adjusted annual rate of 0.9% in the first quarter from the fourth quarter of 2019.. --The productivity decline was smaller than the preliminary estimate of -2.5% for the first quarter largely because revised numbers reveal sharper declines in...

  • Jobless Claims Hold Steady as Economy Slowly Reopens -- 2nd Update

    The number of workers receiving unemployment benefits increased slightly to 21.5 million at the end of May, reflecting continued coronavirus fallout. In the week ended May 23, the number of Americans who were drawing on unemployment benefits ticked up by 649,000 from a week earlier, the Labor Department said Thursday. So-called continuing claims are released with a one-week lag.

  • U.S. April Trade Deficit Widened to $49.41 Billion

    The U.S. trade deficit widened to $49.41 billion in April as imports and exports both fell amid coronavirus-related lockdowns.

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