Economy

While the jobless rate was down from 13.3% in May, it is still at a Depression-era level. And the data was gathered during the second week of June, just before a number of states began to reverse or suspend the reopenings of their economies to try to beat back the virus.

The number of laid-off workers who applied for unemployment benefits fell to 1.48 million last week, the 12th straight drop and a sign that layoffs are slowing but are still at a painfully high level.

It was the sharpest quarterly decline since an 8.4% fall in 2008 during the depths of the financial crisis.

For the 47 percent who are worried about money issues currently, 23 percent said their cause of stress revolved around everyday expenses, which Bankrate noted was down from the 32 percent who said the same last year.

Sales of new homes rose a surprisingly strong 16.6% in May suggesting that the reopening of major parts of the country were giving a boost to the housing market.

About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.

U.S. employers laid off 7.7 million workers in April _ a sign of just how deep the economic hole is after the closure of thousands of offices, restaurants, stores and schools during the pandemic.

The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers.

Nearly three weeks after JCPenney filed for Chapter 11 bankruptcy, the company has announced it will close down 154 stores nationwide in 38 states as a first step in reorganizing the business.

Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.

About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.

It was the biggest quarterly decline in more than a decade, since an 8.4% fall in 2008 during the depths of the financial crisis.

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.