Latest Recessions and depressions News

The Latest: Philippine president eases lockdown in capital

May. 13, 2021 23:15 PM EDT

MANILA, Philippines — The Philippine president has eased a coronavirus lockdown in the bustling capital and adjacent provinces to fight economic recession and hunger but still barred public gatherings this month, when many Roman Catholic summer religious festivals are held. ...

US mortgage rates fall for 4th week; 30-year dips to 2.94%

May. 13, 2021 17:41 PM EDT

WASHINGTON (AP) — Mortgage rates declined this week, marking their fourth consecutive week below 3% and further evidence of the strength in the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac reported Thursday that the average for the...

Biden team moves swiftly to tackle pipeline political peril

May. 12, 2021 21:23 PM EDT

The Biden administration swung aggressively into action after a primary gasoline pipeline fell prey to a cyberattack — understanding that the situation posed a possible series of political and economic risks. The pipeline shutdown was an all-hands-on-deck situation for...

Consumer prices shot up 0.8% in April as worries escalate

May. 12, 2021 18:35 PM EDT

WASHINGTON (AP) — A worrisome bout of inflation struck the U.S. economy in April, with consumer prices for goods and services surging 0.8% — the largest monthly jump in more than a decade — and the year-over-year increase reaching its fastest rate since 2008. The...

How major US stock indexes fared Wednesday

May. 12, 2021 16:46 PM EDT

Stocks pulled back again on Wall Street Wednesday after a surprisingly big jump in inflation last month worsened worries among investors that the economy may run too hot as it bounces back from its pandemic-induced recession. Tech giants, which had soared during the past...

EU economy to expand, bouncing back from pandemic crisis

May. 12, 2021 07:16 AM EDT

BRUSSELS (AP) — The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to regain the ground lost by the end of next year. In its latest forecast Wednesday, the EU’s executive commission...

Public service in the US: Increasingly thankless, exhausting

May. 12, 2021 03:42 AM EDT

STERLING HEIGHTS, Mich. (AP) — He scurries through his apartment, downing a quick mug of coffee, brushing his teeth, feeding his pet rabbit, Auggie, before leaving. Not so long ago, Bill Mathis would have headed to his high school classroom to discuss great literature like “To Kill a...

States push jobless from virus recession to return to work

May. 11, 2021 12:46 PM EDT

STOWE, Vt. (AP) — Eduardo Rovetto is hoping the state of Vermont's reinstated requirement that people who are collecting unemployment benefits must seek work to qualify will help him hire enough staff for his restaurant in the resort town of Stowe. After more than a...

Job market for new grads: Much hiring but much competition

May. 10, 2021 15:05 PM EDT

After a painful year of joblessness, the future has finally brightened for Alycia St. Germain, a 22-year-old college senior at the University of Minnesota. Having lost a part-time gig at Barnes and Noble last March as the viral pandemic tore through the U.S. economy, she...

EU: Pandemic measures to total about $5.85 trillion

May. 10, 2021 14:12 PM EDT

BRUSSELS (AP) — The European Union's top economy official said Monday that the recovery measures the EU and its 27 member states have in the works to emerge from the pandemic total around $5.85 trillion. EU Economy Commissioner Paolo Gentiloni told a European...