Latest Moody's Corporation News

Patrolman Elliot Landrau keeps watch at the West Side Market, Friday, April 10, 2020, in Cleveland. There were fewer shoppers this year before the Easter holiday than in previous years due to the coronavirus. (AP Photo/Tony Dejak)

Virus puts brakes on US economic engine: consumer spending

Apr. 10, 2020 4:24 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ________________________ CONSUMER DURESS: The consumer drives about 70% of all economic activity in the...

FILE - In this March 13, 2020 file photo, unionized hospitality workers wait in line in a basement garage to apply for unemployment benefits at the Hospitality Training Academy in Los Angeles.  More than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus.   (AP Photo/Marcio Jose Sanchez, File)

A record 10 million sought US jobless aid in past 2 weeks

Apr. 2, 2020 11:57 AM EDT

WASHINGTON (AP) — More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus outbreak. Combined with last week's report that 3.3 million people sought...

FILE - In this Sept. 18, 2019, file photo job applicants looks at jobs available at Florida International University during a job fair in Miami. On Wednesday, Jan. 8, 2020, payroll processor ADP reports on how many jobs its survey estimates U.S. companies added in December. (AP Photo/Lynne Sladky, File)

U.S. businesses cut 27,000 jobs in March, before virus hit

Apr. 1, 2020 9:14 AM EDT

WASHINGTON (AP) — U.S. companies shed 27,000 jobs in March, according to a private survey, a figure that mostly reflected the economy as it stood before the full impact of the viral outbreak. Payroll processor ADP said small businesses took the biggest hit, losing 90,000 jobs, while medium-sized and large...