Latest Recessions and depressions News

FILE - In this Saturday, May 16, 2020, file photo, Glen Buhlmann, lower left, fills out a job application during a walk- and drive-up job fair in Seattle for clothing maker Outdoor Research's new line of face masks and other personal protection equipment the company has started manufacturing due to the coronavirus pandemic. U.S. employers likely rehired several million more workers in June, thereby reducing a Depression-level unemployment rate, but the most up-to-date data suggests that a resurgent coronavirus will limit further gains. (AP Photo/Ted S. Warren, File)

US unemployment falls to 11%, but new shutdowns are underway

Jul. 2, 2020 12:17 PM EDT

WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the jobless rate...

FILE - In this Tuesday, March 10, 2020, file photo, specialists James Denaro, left, and Mario Picone work on the floor of the New York Stock Exchange. Global stock markets and Wall Street futures rose Thursday, July 2, 2020, on hopes for the development of a coronavirus vaccine and ahead of the release of monthly U.S. jobs data. (AP Photo/Richard Drew, File)

Stocks rise on jobs data, S&P 500 nears week-long sweep

Jul. 2, 2020 12:09 PM EDT

NEW YORK (AP) — Wall Street is rising Thursday after a report showed the U.S. job market continues to climb from the crater created by the coronavirus pandemic in the spring. The S&P 500 was 0.9% higher in midday trading and on pace for its fourth-straight gain. Stocks also rose across Europe and...

In this Thursday, June. 18, 2020, photo, West Quincy Pawn Shop owner Lionel Hammond poses for a photo in the gun section of the store which Hammond pointed out has a noticeably low stock in West Quincy, Mo. At West Quincy Pawn Shop, Hammond said sales have been off the charts and that he can't keep merchandise on the shelves as buyers are using their governmental stimulus money to buy firearms, jewelry, televisions and other electronics. (Jake Shane/Quincy Herald-Whig via AP)

Background checks, a metric for gun sales, hit all-time high

Jul. 1, 2020 4:42 PM EDT

Historic numbers of background checks to purchase or possess a firearm were done in June, a trend in a year marked by uncertainty over the coronavirus pandemic, a subsequent economic recession, protests over racial injustice and calls to reduce police funding. FBI numbers released Wednesday show that 3.9 million...

FILE - In this June 4, 2020 file photo, a pedestrian wearing a mask walks past a reader board advertising a job opening for a remodeling company, in Seattle. U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves the job market far below its pre-pandemic levels. The payroll company ADP said that small businesses reported the largest gain, adding 937,000 jobs. Construction firms and restaurants and hotels also posted big increases in hiring. (AP Photo/Elaine Thompson, File)

5 things to watch for in Thursday's jobs report for June

Jul. 1, 2020 3:33 PM EDT

WASHINGTON (AP) — With the viral outbreak worsening and unemployment at Depression-era levels, the government on Thursday will issue what will almost surely be another remarkable jobs report. Hiring in June might have reached the highest monthly total on record — 3 million. Yet so deep were the...

FILE - In this Saturday, May 23, 2020, file photo, a man wearing a face mask is reflected in a mirror as he waits inside his car to be tested for COVID-19 while volunteers take registration information in Annandale, Va. COVID-19 testing was available from Fairfax County at no cost and without a doctor's order. Hundreds of people had lined up in cars and on foot by 10 a.m. Officials planned on testing about 1,000 people from 10 a.m. to 6 p.m. (AP Photo/Jacquelyn Martin)

Six takeaways of the KHN/AP public health investigation

Jul. 1, 2020 7:57 AM EDT

Local and state public health departments in the United States work to ensure that people have healthy water to drink, their restaurants don’t serve contaminated food and outbreaks of infectious diseases don’t spread. Those departments now find themselves at the forefront of fighting the coronavirus...

A woman wearing a mask passes the New York Stock Exchange, Tuesday, June 30, 2020, during the coronavirus pandemic. (AP Photo/Mark Lennihan)

Asian shares up after Wall St closes best quarter since 1998

Jul. 1, 2020 12:00 AM EDT

TOKYO (AP) — Asian shares were mostly higher Wednesday after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic. Japan's benchmark Nikkei 225 slipped 0.2% to 22,187.27. South Korea's Kospi rose 1.0% to 2,130.14. Australia's...

Residents wearing masks to curb the spread of the coronavirus line up for COVID-19 test outside the Worker's Stadium in Beijing on Tuesday, June 30, 2020. Test sites have sprung up through the Chinese capital as test have become a daily normal after the latest outbreak of the coronavirus, (AP Photo/Ng Han Guan)

The Latest: SKorea weighs listing churches as 'high risk'

Jun. 30, 2020 9:58 PM EDT

SEOUL, South Korea -- South Korea is considering including religious facilities on the same list with nightclubs, hostess bars and karaoke rooms as “high risk” venues for the spread of COVID-19 following a slew of transmissions tied to church gatherings. South Korean Prime Minister Chung Sye-kyun...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, June 30, 2020. Asian shares are rising, cheered by a rally on Wally Street that underlined some optimism about global business performance despite the ongoing coronavirus pandemic. (AP Photo/Vincent Yu)

Asian shares rise after Wall St rally, strong housing data

Jun. 29, 2020 11:28 PM EDT

TOKYO (AP) — Asian shares rose Tuesday, cheered by a rally on Wally Street reflecting some optimism over stronger than expected economic data, despite widening coronavirus outbreaks. Japan's benchmark Nikkei 225 gained 1.8% in morning trading to 22,380.02. South Korea's Kospi gained 1.5% to 2,123.85,...

Britain's Prime Minister Boris Johnson visits the construction site of Ealing Fields High School in west London, Monday June 29, 2020. (Toby Melville/Pool via AP)

Boris Johnson says COVID-19 has been a disaster for Britain

Jun. 29, 2020 1:08 PM EDT

LONDON (AP) — Prime Minister Boris Johnson acknowledged Monday that the coronavirus pandemic has been a “disaster” for Britain, as he announced a spending splurge designed to get the country — and his faltering Conservative government — back on track. As the U.K. emerges from a...

A motorbike ice-cream vendor smokes a cigarette as he waits for customers next to a beach on Salamina island, west of Athens, Monday, June 29, 2020. (AP Photo/Thanassis Stavrakis)

Greece says pandemic to worsen long-term economic problems

Jun. 29, 2020 9:50 AM EDT

ATHENS, Greece (AP) — Greece's central bank says the country could avoid a major recession if it makes good use of emergency EU support funds and does not suffer a major renewed outbreak of COVID-19, but the pandemic is likely to compound long-term financial problems. In a 210-page report published Monday,...