Economic outlook

A woman walks past a boutique with a sale sign, Thursday, June 4, 2020, in Cleveland Heights, Ohio. The state says more than 34,000 Ohioans filed unemployment claims during the last week of May. That is the lowest figure since Ohio's stay-at-home orders depressed the economy and led to widespread layoffs. (AP Photo/Tony Dejak)
June 05, 2020 - 8:42 am
WASHINGTON (AP) — The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic. The May job gain suggests that businesses have quickly been...
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A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Thursday, June 4, 2020. Asian stock markets are mixed after Wall Street rose on better U.S. jobs and manufacturing data than expected.(AP Photo/Lee Jin-man)
June 04, 2020 - 4:55 pm
Wall Street paused on Thursday, and the S&P 500 fell for the first time in five days as stocks that had held steadiest through this year’s feverish swings gave back some of their gains. The S&P 500 lost 10.52 points, or 0.3%, to 3,112.35 after being on track earlier in the day for its...
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A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Thursday, June 4, 2020. Asian stock markets are mixed after Wall Street rose on better U.S. jobs and manufacturing data than expected.(AP Photo/Lee Jin-man)
June 03, 2020 - 11:53 pm
Most Asian stock markets were mixed Thursday after Wall Street gain on surveys showing better U.S. jobs and manufacturing conditions than expected. Benchmarks in Shanghai and Hong Kong declined while Tokyo, Sydney and Southeast Asia advanced. Stock markets have risen on optimism about a possible...
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A waitress wearing a face mask to protect against coronavirus carries out a plate of fish to serve at a seafood restaurant in Marseille, southern France, Tuesday, June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. (AP Photo/Daniel Cole)
June 03, 2020 - 8:27 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TESTING THE WATERS: Businesses are starting reopen...
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FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y. Huh, File)
June 03, 2020 - 3:01 pm
WASHINGTON (AP) — The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are estimated to have been lost. Unemployment could near 20%. And potentially fewer than half of all...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)
June 02, 2020 - 11:39 pm
TOKYO (AP) — Asian shares rose Wednesday after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. Japan's benchmark Nikkei 225 gained 1.1% to 22,581.19 in morning trading. Australia's S&P/ASX...
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A woman poses for a photo by the "Lennon Wall" with a face mask attached to the image of John Lennon, in Prague, Czech Republic, Monday, April 6, 2020. (AP Photo/Petr David Josek)
June 02, 2020 - 10:35 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ SPENDING: — With countries starting to loosen...
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A woman wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, June 1, 2020. Asian stock markets have rebounded after U.S. President Donald Trump avoided reigniting a trade war with China amid tension. (AP Photo/Vincent Yu)
June 02, 2020 - 12:01 am
TOKYO (AP) — Shares were mostly higher in Asia on Tuesday, lifted by moves to reopen many regional economies from shutdowns aimed at containing the coronavirus pandemic. Benchmarks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney. Jakarta’s main index jumped 2% and Singapore’s was...
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Senate Minority Leader Sen. Chuck Schumer of N.Y., center, arrives for a news conference on Capitol Hill in Washington, Tuesday, May 12, 2020. (AP Photo/Patrick Semansky)
June 01, 2020 - 8:06 pm
WASHINGTON (AP) — The Congressional Budget Office said Monday that the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus. The CBO, which had already issued a report forecasting a...
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John Price and Bijan Black have lunch with their son Parker Price, 2, all of Seat Pleasant, Md., at the Wharf area in Washington, Friday, May 29, 2020. This was their first time venturing out since the coronavirus pandemic started. (AP Photo/Susan Walsh)
May 29, 2020 - 8:50 pm
WASHINGTON (AP) — With new U.S. economic numbers highlighting the rough road ahead for a hoped-for rebound, President Donald Trump on Friday took aim at the World Health Organization and China, blaming both for their roles in the pandemic's devastation. Trump announced that the United States will...
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