Category: Economy

Stocks rise after better-than-expected jobs report to close out winning week

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coronavirus pandemic.  The Dow Jones Industrial...

Mortgage demand falls for second week, suggesting slowdown in housing recovery

A real estate agent readies a house for viewing in Venice, Calif. Anne Cusack | Los Angeles Times | Getty Images The surge in mortgage demand from homebuyers over the...

U.S. weekly jobless claims total 1.48 million, vs 1.35 million estimate

Jobless claims totaled 1.48 million last week as unemployment related to the coronavirus pandemic remained stubbornly high, though those receiving benefits fell below 20...

Some thrive as others suffer

Federal Reserve Chair Jerome H. Powell during a speech on March 3, 2020 in Washington, DC. Mark Makela/Getty Images The recession caused by the coronavirus pandemic is...

The Fed says it is going to start buying individual corporate bonds

The Federal Reserve is expanding its foray into corporate credit to now buy individual corporate bonds, on top of the exchange-traded funds it already is purchasing, the...

Authentic Brands Group CEO is looking for coronavirus retail deals

Authentic Brands Group Chief Executive Jamie Salter. Source: Authentic Brands Group The company that has purchased retailers such as Aeropostale, Barneys New York and...

Unemployment rate comes in at 13.3%, better than expected

Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than...

Mortgage demand from homebuyers shows strong and quick recovery

It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than...

Unemployment is nearing Great Depression levels. Here's how the eras are similar — and different

The unemployment rate is at its highest since the Great Depression. The current situation differs from that of the early 20th century in a few ways that may prevent the...

May unemployment was worse than expected, signaling another bad jobs report

State reopenings have not yet helped stem the rise in unemployment, which is expected to show another big jump in the month of May.  Weekly jobless claims totaled 2.4...