Recessions and depressions

FILE - In this July 15, 2020, file photo, job seekers exercise social distancing as they wait to be called into the Heartland Workforce Solutions office in Omaha, Neb. For the first time in nearly 50 years, older workers are facing higher unemployment than midcareer workers, according to a study released Tuesday, Oct. 20, 2020, from the New School. (AP Photo/Nati Harnik, File)
October 20, 2020 - 2:49 pm

Older Workers Face Higher Unemployment Amid Virus Pandemic

For the first time in nearly 50 years, older workers face higher unemployment than their midcareer counterparts, according to a study released Tuesday by the New School university in New York City. The pandemic has wreaked havoc on employment for people of all ages. But researchers found that...
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October 19, 2020 - 3:01 am

Imf: Nearly All Mideast Economies Hit By Pandemic Recession

DUBAI, United Arab Emirates (AP) — The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Oman — are expected to see some level of economic growth next year, according to a report...
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Cars are parked to be exported at Yokohama port, near Tokyo on Sept. 29, 2020. The drop in Japanese exports diminished last month, according to government data released Monday, Oct. 10, 2020, underlining how the blunt of the trade damage from the coronavirus pandemic may be gradually easing. (AP Photo/Koji Sasahara)
October 19, 2020 - 12:12 am

Japan Exports Fall Amid Slow Recovery From Pandemic Downturn

TOKYO (AP) — Japan's exports fell at a slower pace in September in a sign that trade damage from the coronavirus pandemic is easing, according to Finance Ministry data released Monday. The report showed Japan’s exports in September declined 4.9%, better than the nearly 15% drop in August. The...
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FILE - In this Friday, Oct. 9, 2020 file photo, a waiter wearing a face mask to prevent the spread of coronavirus sweeps the terrace of a bar in downtown Madrid, Spain. Europe’s economy was just catching its breath from what had been the sharpest recession in modern history. A resurgence in coronavirus cases in October 2020 risks undoing that and will likely turn what was meant to be a period of healing for the economy into a lean winter of job losses and bankruptcies. (AP Photo/Manu Fernandez, File)
October 17, 2020 - 12:05 am

Dark Déjà Vu For European Economy As Virus Cases Spike

LONDON (AP) — Europe’s economy was just catching its breath from what had been the sharpest recession in modern history. A resurgence in coronavirus cases this month is a bitter blow that will likely turn what was meant to be a period of healing for the economy into a lean winter of job losses and...
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October 16, 2020 - 7:00 am

Us Industrial Production Fell A Sharp 0.6% In September

WASHINGTON (AP) — U.S. industrial production fell 0.6% in September, the weakest showing since spring and a sign that the economy’s recovery from the pandemic recession may be faltering just as confirmed viral infections are resurging in much of the country. The Federal Reserve reported Friday that...
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FILE — In this Thursday, June 20, 2019 file photo, South African President Cyril Ramaphosa delivers his State of the Nation Address in parliament in Cape Town, South Africa. Ramaphosa announced Thursday, Oct. 15, 2020 that his government will be extending relief measures to the country's poor who have been hurt by the economic downturn caused by COVID-19. (Rodger Bosch/Pool Photo via AP, FILE)
October 15, 2020 - 9:31 am

South Africa Extends Relief Grants To Help Poor Amid Virus

JOHANNESBURG (AP) — South African President Cyril Ramaphosa announced Thursday that his government will extend relief grants to 6 million of the country’s unemployed who have been hurt by the economic downturn caused by the COVID-19 outbreak. Ramaphosa, delivering an economic recovery plan to...
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FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange, in New York. Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14, as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak. (AP Photo/John Minchillo, File)
October 15, 2020 - 7:22 am

Stocks Open Lower On Wall Street As Virus Spreads In Europe

Stocks are falling on Wall Street in early trading Thursday, extending the market's pullback this week as optimism that Congress will deliver another round of stimulus for the economy wanes and new data show another weekly surge in the number of Americans seeking unemployment aid. The S&P 500...
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FILE - In this Wednesday, Sept. 2, 2020, file photo, passers-by walk past a business storefront with store closing and sale signs in Dedham, Mass. U.S. employers advertised for slightly fewer jobs in August while their hiring ticked up modestly. The Labor Department said Tuesday, Oct. 6, 2020, that the number of U.S. job postings on the last day of August dipped to 6.49 million, down from 6.70 million July. (AP Photo/Steven Senne, File)
Associated Press
October 15, 2020 - 5:44 am

Layoffs remain elevated as nearly 900,000 seek jobless aid

WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession that erupted seven months ago. Thursday’s report from the Labor Department...
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October 13, 2020 - 8:50 pm

'driving While Black' Shows History Of Us Black Motorists

ALBUQUERQUE, N.M. (AP) — A new film examines the history of African Americans driving on the road from the Great Depression to the height of the Civil Rights movement. “Driving While Black,” airing this week on most PBS stations in the U.S., show how the automobile liberated African Americans to...
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FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period. (AP Photo/Frank Franklin II, File)
October 13, 2020 - 2:51 pm

Jpmorgan, Citi Profits Improve Amid Signs Of Recovery

CHARLOTTE, N.C. (AP) — Two of the nation's biggest banks — JPMorgan Chase and Citigroup — said Tuesday that their profits improved markedly over the summer, as the U.S. economy tried to bounce back from the coronavirus shutdowns that were imposed earlier this year. Even so, both New York banks...
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