A food bank in Corpus Christi, Texas, one of the areas where unemployment has shot up, even as the number of virus cases has remained relatively low.Ilana Panich-Linsman for The New York Times
In Corpus Christi, Texas, many people strain to name anyone infected with the coronavirus. In east
Black employment rates are plummeting, and the evolving wealth and income hit could fall on the shoulders of those ill-equipped to bear it.
WASHINGTON — The coronavirus recession has hit black Americans particularly hard, amplifying racial inequalities that may worsen as the economy begins what is expected to be a
U.S. stock futures advanced and global markets rallied Tuesday as governments around the world planned steps for a return to normal life and work after the coronavirus outbreak.
Futures markets suggested Wall Street would open nearly 2 percent
The U.S. economy faces irreparable damage from the fallout of the coronavirus pandemic, the nation’s top economic policymakers warned lawmakers on Tuesday, as the Congress and the White House grapple with how to restart business activity and how much additional government support is needed.
In a joint appearance before lawmakers,
Matthew Henderson couldn’t be entering the job market at a worse time. As a senior at Loyola University, he spent the spring semester interning as a trade policy analyst at the British Consulate in Chicago. But his chances of turning that opportunity into a permanent job after graduation ran headlong
Jerome H. Powell, the Federal Reserve chairman, said that while he expected the United States economy to recover from the sharp and painful downturn brought about by the coronavirus, that process would take time — potentially until the end of 2021.
“This economy will recover; it may take a while,”
The Labor Department said Friday that the economy shed more than 20.5 million jobs in April, sending the unemployment rate to 14.7 percent — devastation unseen since the Great Depression.
The report underscores the speed and depth of the labor
Even by the standards of the coronavirus pandemic, Friday’s report on employment in the United States will be staggering.
It will also be far more illuminating than data that has been released so far, offering
WASHINGTON — Efforts to quickly restart economic activity risk further dividing Americans into two major groups along socioeconomic lines: one that has the power to control its exposure to the coronavirus outbreak and another that is forced to choose between potential sickness or financial devastation.
It is a pick-your-poison fact
The coronavirus pandemic has united Americans of different races and income levels in deep pessimism about the economy, in contrast to the widely divergent views that prevailed before the crisis.
Highly paid or less so, black or white, investors in the stock market or not, Americans largely expect a poor
“We went from 0 to 60 in five seconds,” said Kim Guadagno, Fulfill’s chief executive and president. Hurricane Sandy in 2012 was devastating, she said, but this is worse because “the need is widespread, with no end in sight.”
Last year, before the pandemic, Feeding America, the nation’s largest network
WASHINGTON — Walter Isenberg is the sort of business owner President Trump has in mind when he talks about the need to start lifting coronavirus lockdowns and reopen the American economy. Mr. Isenberg’s hotel and restaurant group in Denver has seen its revenues drop from $3 million a day last
