Economy

US housing starts March 2020

U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago. The Commerce Department said Thursday that groundbreakings occurred last month at a seasonally adjusted annual rate of 1.2 million units, down from a 1.56 million pace in February. Construction of single-family houses fell 17.5%, while apartment […]

Economy

Jobless claims hit 5.245 million; monthly loss now 22M due to coronavirus

Protection measures against the coronavirus continued to tear through the employment ranks, with 5.245 million more Americans filing first-time claims for unemployment insurance last week, the Labor Department reported Thursday. That brings the crisis total to just over 22 million, nearly wiping out all the job gains since the Great Recession. The total was a […]

Economy

New York taps McKinsey to develop a ‘Trump-proof’ economic reopening plan

New York Governor Andrew Cuomo has hired high-powered consultants to develop a science-based plan for the safe economic reopening of the region that can thwart expected pressure from President Donald Trump to move more rapidly, state government sources told Reuters on Wednesday. Cuomo, along with many other U.S. governors, shut his state economy to limit […]