US economy shrank at 4.8% rate last quarter as coronavirus struck
The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.
US unemployment claims surge by another 4.4 million
More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday.
People missing out on stimulus checks because spouses are immigrants
Roughly 1.2 million U.S. citizens did not receive stimulus checks because they are married to immigrants who don’t have social security numbers and joint-filed their taxes.
Reopening US could require thousands more public health workers
Without the extra help, officials insist, states cannot possibly be ready to resume normal everyday activities.
Online banking outages reported on same day millions of Americans receive stimulus payment
Many users on Twitter reported having trouble accessing their online bank accounts on the same day that millions of Americans were expected to receive stimulus money.
Trump reverses course on power to 'reopen' states amid virus
Democratic and Republican governors sounded alarm about a federal power grab a day after Trump asserted he had the ultimate say on when and how to reopen the economy.
Website for Angelenos to seek prepaid debit cards crashes after going live Tuesday
The website for low-income Angelenos struggling amid the coronavirus pandemic to apply for prepaid debit cards has been crashing since it was put online Tuesday morning, and staff members from Mayor Eric Garcetti's office said they are trying to fix it.
Fauci: 'We're not there yet' on key steps to reopen economy
Fauci said a May 1 target is “a bit overly optimistic” for many areas of the country.
IMF: Global economy will suffer worst year since Great Depression
The IMF said Tuesday that it expects the global economy to shrink 3% this year — far worse than its 0.1% dip in the Great Recession year of 2009.