Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
If you’re one of the millions of Americans making less or receiving unemployment benefits because of the coronavirus pandemic, you’re probably working to recalibrate your finances.
Retailer JCPenney filed for Chapter 11 bankruptcy protection after the coronavirus pandemic forced stores to shut, the company announced Friday evening, joining J. Crew and Neiman Marcus.
U.S. retail sales tumbled 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the country and weighed down a sinking economy.
Additional rescue aid from government spending or tax policies, though costly, would be “worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Federal Reserve Chair Jerome Powell said.
Mortgage balances, the largest component of household debt in the U.S., jumped by $156 billion in the first quarter.
More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.
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.
Governor Greg Abbott said now is not the time to reopen places where people are naturally closer together or sharing the same space and equipment, such as bars, salons and gyms.
The city of Fort Worth announced a federal grant injecting tens of millions of dollars into a longtime troubled community.
Last week, FOX 4 told you about economic stimulus checks being deposited into temporary accounts set up by tax prep services.