Latest Recessions and depressions News

US jobless claims down 14,000 to 385,000 as economy rebounds

Aug. 05, 2021 09:07 AM EDT

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession. The Labor Department reported Thursday that...

US jobless claims fall by 14,000 to 385,000, another sign the economy, hiring are reboundng from the pandemic recession

Aug. 05, 2021 08:40 AM EDT
WASHINGTON (AP) — US jobless claims fall by 14,000 to 385,000, another sign the economy, hiring are reboundng from the pandemic recession.

US consumers boost spending 1% as inflation remains high

Jul. 30, 2021 11:18 AM EDT

WASHINGTON (AP) — American consumers increased their spending by 1% in June — a dose of energy for an economy that is quickly rebounding from the pandemic recession but is facing new risks led by the delta variant of the coronavirus. At the same time, a key inflation...

EXPLAINER: What happens after foreclosure moratorium ends

Jul. 30, 2021 10:33 AM EDT

NEW YORK (AP) — Since early 2020, banks across the U.S. have been banned from foreclosing on homes as part of the federal government’s efforts to assist families feeling economic pain caused by the pandemic. On Saturday, the ban will end, potentially putting thousands of families at risk....

European economy grows 2%, ending double-dip recession

Jul. 30, 2021 09:03 AM EDT

FRANKFURT, Germany (AP) — Europe emerged from a double-dip recession in the second quarter with stronger-than-expected growth of 2.0% over the quarter before, according to official figures released Friday, as pandemic restrictions eased, consumers started spending built-up savings and major...

Official figures show European economy grew 2% in second quarter, ending double-dip recession

Jul. 30, 2021 05:05 AM EDT
FRANKFURT, Germany (AP) — Official figures show European economy grew 2% in second quarter, ending double-dip recession.

US economy surpasses pre-pandemic size with 6.5% Q2 growth

Jul. 29, 2021 15:28 PM EDT

WASHINGTON (AP) — Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. The total size of the economy has now surpassed its pre-pandemic level....

US average mortgage rates mixed; 30-year loan rises to 2.80%

Jul. 29, 2021 15:04 PM EDT

WASHINGTON (AP) — Mortgage rates were mixed last week. The key 30-year home loan remained below 3% for the fifth straight week amid continued concern over the surging delta coronavirus variant and the progress of economic recovery. Mortgage buyer Freddie Mac reported...

US jobless claims down 24,000 to 400,000 as economy recovers

Jul. 29, 2021 09:08 AM EDT

WASHINGTON (AP) — The number of Americans collecting unemployment benefits slid last week, another sign that the job market continues to recover rapidly from the coronavirus recession. Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported...

Revisions show slightly smaller GDP drop last year

Jul. 29, 2021 09:07 AM EDT

WASHINGTON (AP) — The U.S. economy contracted by a slightly smaller amount last year than previously reported and grew slightly more in 2019 and slightly less in 2018. Those are the results from the government’s annual benchmark revisions of the gross domestic...