Jobless Rate Triples to 14.7% in Sharpest Labor Downturn
In the harshest downturn for American workers in history, employers cut an unprecedented 20.5 million jobs in April and the unemployment rate more than tripled to 14.7%.
US Economy Shrinks at 4.8% Pace, Signaling Start of Recession
The record-long U.S. economic expansion is over after almost 11 years, with what’s likely to be the deepest recession in at least eight decades now underway.
US Durable Goods Orders Plunge Most Since 2014 on Pandemic
U.S. orders for durable goods declined in March by the most since 2014 as the coronavirus and slumping oil prices reverberated through the manufacturing sector and spurred cancelled orders for Boeing Co. airplanes.
US Factory Output Declines by Most Since April Due to GM Strike
U.S. manufacturing output slumped in October by the most in six months as an auto workers strike at General Motors Co. curtailed vehicle production and the trade war continued to weigh on other factories.
Quality Trails Quantity in US Job Market, Index Shows
If quality is more important than quantity, the U.S. labor market isn’t as good as the headline numbers indicate, according to new research.
Payrolls, Wages Miss Estimates in New Sign of Downshift
U.S. hiring missed projections in September and wage gains cooled, offering a warning that the record-long expansion is poised for further slowing even as the jobless rate fell to a half-century low.
Weak Jobs Outlook Echoes Disaster-Hit Months
The last time U.S. payroll forecasts were this low, hurricanes had slammed the country in 2017, temporarily closing businesses. Or go back to 2013 when there was a federal government shutdown.
Unemployment Filings Rise at Lower-Than-Expected Rate
Filings for U.S. unemployment benefits rose less than estimated and remained around historically low levels, offering the latest signs that the labor market is holding up.
Factory Output Rises More Than Forecast in Broad Gain
U.S. factory output increased in August by more than forecast in a broad advance that signals manufacturing may be starting to stabilize.
Core Producer-Price Index Posts First Drop in Two Years
A measure of underlying U.S. producer prices unexpectedly fell in July, with the first drop since early 2017 adding to signs of muted inflation that may reinforce the case for further Federal Reserve easing.