Latest Recessions and depressions News

Signs of recovery as California adds jobs for 2nd month

Apr. 16, 2021 18:04 PM EDT

SACRAMENTO, Calif. (AP) — California employers added 119,600 new jobs in March, the second straight month of growth following a topsy-turvy year of enormous losses and inconsistent gains during an unpredictable pandemic. New unemployment claims, both for traditional...

AP FACT CHECK: Biden hails record job growth, skips caveats

Apr. 16, 2021 17:54 PM EDT

WASHINGTON (AP) — Taking a page from his predecessor's boastful ways, President Joe Biden is claiming credit for two months of record job creation as employers bring back many workers sidelined by the pandemic. Though his numbers are right, it's a misleading portrait. ...

Hank Huckaby dies at 79 after 'unparalleled' Georgia career

Apr. 15, 2021 18:43 PM EDT

ATLANTA (AP) — Henry “Hank” Huckaby, for decades a consummate insider called on by Georgia governors from both parties to oversee finances and make tough choices, died Wednesday at age 79. Huckaby's death was announced by Gov. Brian Kemp and House Speaker David...

Better Indiana outlook brings calls for bigger schools boost

Apr. 15, 2021 14:49 PM EDT

INDIANAPOLIS (AP) — Indiana educators called Thursday for a bigger school funding boost to help improve the state’s lagging teacher pay, as new projections showed state tax collections are expected to bounce back stronger than expected from the pandemic recession. A...

With layoffs down and spending up, US rebound gains momentum

Apr. 15, 2021 14:47 PM EDT

WASHINGTON (AP) — A much-awaited economic boom coming off the pandemic recession appeared to edge closer to reality Thursday with fresh data showing the pace of layoffs dwindling, consumers spending freely and manufacturing rebounding. The latest barometers point to a...

Treasury Department creates office to oversee virus relief

Apr. 14, 2021 20:14 PM EDT

WASHINGTON (AP) — The Treasury Department has created a new office to supervise the disbursement of the billions of dollars in relief money authorized by Congress to combat the coronavirus-related recession. Officials said Wednesday that the goal is to streamline the...

Senate OKs tough former regulator as market watchdog chief

Apr. 14, 2021 13:54 PM EDT

WASHINGTON (AP) — The Senate has approved President Joe Biden’s choice of Gary Gensler to head the Securities and Exchange Commission, signaling an emphasis on investor protection for the Wall Street watchdog agency after a deregulatory stretch during the Trump administration. ...

Ecuador picks conservative for president; Peru sets runoff

Apr. 12, 2021 22:22 PM EDT

QUITO, Ecuador (AP) — Ecuador will be led for the next four years by a conservative businessman after voters rebuffed a left-leaning movement that yielded an economic boom and then a recession since taking hold of the presidency last decade. That election certainty, however, did not extend...

UN chief urges wealth tax of those who profited during COVID

Apr. 12, 2021 17:06 PM EDT

UNITED NATIONS (AP) — Secretary-General Antonio Guterres declared Monday that the world’s failure to unite on tackling COVID-19 created wide inequalities, and he called for urgent action including a wealth tax to help finance the global recovery from the coronavirus. ...

US budget deficit jumps to record $1.7 trillion this year

Apr. 12, 2021 16:49 PM EDT

WASHINGTON (AP) — The U.S. government's budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. ...