Latest Recessions and depressions News

President Donald Trump signs an executive order during a news conference at the Trump National Golf Club in Bedminster, N.J., Saturday, Aug. 8, 2020. (AP Photo/Susan Walsh)

Trump's pandemic relief orders are limited in scope

Aug. 9, 2020 7:29 PM EDT

NEW YORK (AP) — President Donald Trump's new executive orders to help Americans struggling under the economic recession are far less sweeping than any pandemic relief bill Congress would pass. Trump acted Saturday after negotiations for a second pandemic relief bill reached an impasse. Democrats...

James Jackson poses for a photograph outside his home during the coronavirus pandemic, Thursday, July 30, 2020, in West Park, Fla. Jackson is among the tens of thousands hospitality workers fighting for survival in the age of the pandemic. Jackson's employer, the Diplomat Beach Resort, in Hollywood, Fla., was forced to close in March because of the outbreak. (AP Photo/Lynne Sladky)

For pandemic jobless, the only real certainty is uncertainty

Aug. 9, 2020 9:50 AM EDT

CHICAGO (AP) — For three decades, Kelly Flint flourished as a corporate travel agent, sending everyone from business titans to oil riggers around the planet. Then came the worst pandemic in a century, leaving her jobless and marooned in an uncertain economy. Furloughed since March, Flint has dipped into...

James Jackson poses for a photograph outside his home during the coronavirus pandemic, Thursday, July 30, 2020, in West Park, Fla. Jackson is among the tens of thousands hospitality workers fighting for survival in the age of the pandemic. Jackson's employer, the Diplomat Beach Resort, in Hollywood, Fla., was forced to close in March because of the outbreak. (AP Photo/Lynne Sladky)

For pandemic jobless, the only real certainty is uncertainty

Aug. 9, 2020 9:46 AM EDT

CHICAGO (AP) — For three decades, Kelly Flint flourished as a corporate travel agent, sending everyone from business titans to oil riggers around the planet. Then came the worst pandemic in a century, leaving her jobless and marooned in an uncertain economy. Furloughed since March, Flint has dipped into...

Leesa Huddleston talks about washing dishes and cleaning kitchens at a casino from her home, Monday, Aug. 3, 2020, in Shelbyville, Ind.  Huddleston returned in June after a three-month furlough caused by the coronavirus. She felt fortunate to no longer be among the roughly 30 million Americans who remain jobless and are now struggling with suddenly reduced unemployment aid. Yet the return of her job hardly ended Huddleston's financial troubles. Her employer, its revenue shrunken by the loss of customers, cut her schedule to four days a week. (AP Photo/Darron Cummings)

Virus causing financial pain even for people still working

Aug. 8, 2020 10:04 AM EDT

ATLANTA (AP) — Getting her job back should have been a relief for Leesa Huddleston. A kitchen worker at an Indiana casino, Huddleston returned in June after a three-month furlough caused by the coronavirus. She felt fortunate to no longer be among the roughly 30 million Americans who remain jobless and are...

Desks are spaced out in a classroom at Aikahi Elementary School in Kailua, Hawaii on Tuesday, July 28, 2020. While Hawaii has one of the lowest rates of cases per capita in the country and many of its schools have open-air campuses, the challenges of returning kids full time to classrooms may still be insurmountable. (AP Photo/Jennifer Sinco Kelleher)

The Latest: Hawaii schools to open year with remote learning

Aug. 7, 2020 10:21 PM EDT

HONOLULU — Hawaii officials say the state’s public school students will begin the academic year with remote learning only, after a spike of coronavirus cases. Gov. David Ige said Friday that all public students will spend the first four weeks of the school year learning online from home. Officials...

FILE - In this July 9, 2020, file photo, a large video display reads

US hiring slows amid signs of longer-lasting economic damage

Aug. 7, 2020 9:28 PM EDT

WASHINGTON (AP) — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned. The United States added 1.8 million jobs in July, a...

A currency trader smiles at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 7, 2020. Asian shares were mostly lower Friday in lackluster trading, as the region weighed continuing trade tensions over China and optimism about more fiscal stimulus for the ailing U.S. economy. (AP Photo/Ahn Young-joon)

Asian shares skid amid virus woes, China-US trade tensions

Aug. 7, 2020 12:06 AM EDT

TOKYO (AP) — Asian shares were mostly lower Friday in lackluster trading, as trade tensions between the U.S. and China offset optimism about more fiscal stimulus for the ailing U.S. economy. Investors were also awaiting a U.S. report on jobs later Friday for another gauge of the economic fallout from the...

Cemetery workers bury 65-year-old Maria Joana Nascimento, whose family members, behind, suspect died of COVID-19, at Vila Formosa cemetery in Sao Paulo, Brazil, Thursday, Aug. 6, 2020. Brazil is nearing 3 million cases of COVID-19 and 100,000 deaths. (AP Photo/Andre Penner)

The Latest: UN says cybercrime hindering pandemic response

Aug. 7, 2020 12:00 AM EDT

UNITED NATIONS — The United Nations’ counterterrorism chief says a 350% increase in phishing websites was reported in the first quarter of the year and many of them targeted hospitals and health care systems, hindering their response to the coronavirus pandemic. Vladimir Voronkov told the U.N....

FILE-In this Thursday, Aug. 16, 2018 file photo, a man walks away after changing currency at a currency exchange shop in Istanbul. Turkey's currency dropped to an all-time low against the dollar on Thursday Aug. 6, 2020, as the global recession created by the coronavirus pandemic brings to the fore weaknesses in the country's economy. (AP Photo/Lefteris Pitarakis, File)

Turkish currency hits all-time low amid market jitters

Aug. 6, 2020 11:18 AM EDT

LONDON (AP) — Turkey’s currency dropped to an all-time low against the dollar on Thursday as the global recession created by the pandemic brings to the fore weaknesses in the country's economy. The Turkish lira fell to 7.307 against the dollar, past the previous low of 7.26 in May and is down about...

FILE - In this Feb. 5, 2019, file photo, Alaska Airlines planes are parked at a gate area at Seattle-Tacoma International Airport in Seattle. Alaska Airlines said over 300 employees among the company's workforce in Anchorage may lose their jobs on Oct. 1, 2020. The company said the Anchorage layoffs are part of company-wide job cuts because of the economic fallout from the coronavirus pandemic, Alaska Public Media reported Tuesday, Aug. 4. (AP Photo/Ted S. Warren, File)

1.2 million seek jobless aid after $600 federal check ends

Aug. 6, 2020 9:18 AM EDT

WASHINGTON (AP) — Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired. The government's report Thursday did offer a smidgen of hopeful...