Latest Recessions and depressions News

Pandemic 'exposed' UK households' finances, report finds

Apr. 21, 2021 07:13 AM EDT

LONDON (AP) — Households in Britain, especially poorer ones, are far more likely to have suffered a severe income shock during the coronavirus pandemic over the past year than their counterparts in France and Germany, a well-respected British-based think tank said Wednesday. ...

German court refuses effort to block EU recovery fund

Apr. 21, 2021 05:46 AM EDT

FRANKFURT, Germany (AP) — Germany's top court has refused to issue an injunction blocking the country's participation in the European Union's 750 billion-euro (more than $900 billion) coronavirus recovery fund, clearing the way for the launch of the fund and its common borrowing aimed at...

Indiana budget deal boosts school funding, construction

Apr. 20, 2021 18:46 PM EDT

INDIANAPOLIS (AP) — A new Indiana state budget awash in federal coronavirus relief money will give a sizeable funding boost to public schools while also paying for numerous economic grant programs and construction projects. The state budget deal announced Tuesday by...

Liz Weston: How the pandemic has shaken up retirement

Apr. 19, 2021 07:28 AM EDT

Pandemic-related job losses forced many older Americans out of the workplace i n the past year, perhaps permanently. But the COVID-19 crisis also seems to have delayed some retirements. Remote work eliminated commutes and often allowed more flexible schedules with fewer...

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...