Economy

FILE - In this April 27, 2020 file photo shows a sale pending sign on a home in Mount Lebanon, Pa The National Association of Realtors releases its April report on pending home sales, which are seen as a barometer of future purchases on Thursday, May 28.(AP Photo/Gene J. Puskar, File)
AP News Staff
May 28, 2020 - 9:06 am
BALTIMORE (AP) — April had a record collapse in Americans signing contracts to buy homes, a reflection of the broader shutdown of economic activity in response to the coronavirus outbreak. The National Association of Realtors said Thursday that its pending home sales index plunged 21.8% from the...
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This April 16, 2020 photo shows a real estate company sign that marks a home for sale in Harmony, Pa. U.S. new home sales plunged 15.4% in March as the lockdowns that began in the middle of the month began to rattle the housing market. The Commerce Department reported Thursday, April 23, that sales of new single-family homes dropped to a seasonally ajdjusted annual rate of 627,000 last month after sales had fallen 4.6% in February. (AP Photo/Keith Srakocic)
AP News Staff
May 21, 2020 - 9:46 am
WASHINGTON (AP) — Sales of existing homes plunged 17.8% in April with the real estate market still in the grips of the coronavirus pandemic. The National Association of Realtors said Thursday that last month's decline pushed sales down to a seasonally adjusted annual rate of 4.33 million units, the...
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FILE - In this April 6, 2020 file photo, a customer wearing a mask carries his purchases as he leaves a Target store during the coronavirus pandemic, in the Brooklyn borough of New York. Online sales at Target more than doubled as the pandemic put millions in lockdown during the first quarter, revealing further the critical role big box stores played in getting supplies to an immobilized population. The Minneapolis company reported Wednesday, May 20 that comparable-store sales, which include online purchases, rose 10.8% for the three-month period that ended May 2. (AP Photo/Mark Lennihan, File)
AP News Staff
May 20, 2020 - 6:18 am
NEW YORK (AP) — Online sales at Target more than doubled as the pandemic put millions in lockdown during the first quarter, revealing further the critical role big box stores played in getting supplies to an immobilized population. The Minneapolis company reported Wednesday that comparable-store...
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FILE - In this Feb. 26, 2019, file photo, Jeep vehicles are parked outside the Jefferson North Assembly Plant in Detroit. Defying a wave of layoffs that has sent the U.S. job market into its worst catastrophe on record, at least one major industry is making a comeback: Tens of thousands of auto workers are returning to factories that have been shuttered since mid-March due to fears of spreading the coronavirus. (AP Photo/Carlos Osorio, File)
AP News Staff
May 15, 2020 - 9:37 am
DETROIT (AP) — Defying a wave of layoffs that has sent the U.S. job market into its worst catastrophe on record, at least one major industry is making a comeback: Tens of thousands of auto workers are returning to factories that have been shuttered since mid-March due to fears of spreading the...
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A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
AP News Staff
May 14, 2020 - 10:05 am
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions. The wave of layoffs has heightened concerns that...
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FILE - In this May 7, 2020, file photo, a pedestrian walks by The Framing Gallery, closed due to the COVID-19 pandemic, in Grosse Pointe, Mich. The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. (AP Photo/Paul Sancya, File)
AP News Staff
May 08, 2020 - 7:43 am
WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses reflect what...
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FILE - In this April 30, 2020 file photo, a man writes information in front of Illinois Department of Employment Security in Chicago. U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy. The Wednesday, May 6, report from payroll company ADP showed the tragic depth and scale of job losses that left no part of the world’s largest economy unscathed.  (AP Photo/Nam Y. Huh, File)
AP News Staff
May 07, 2020 - 8:14 am
WASHINGTON (AP) — Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the viral outbreak deepened the worst U.S. economic catastrophe in decades. Roughly 33.5 million people have now filed for jobless aid in the seven weeks since the...
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FILE - This April 29, 2020 file photo, a passer-by wearing a mask out of concern for the COVID-19 coronavirus, background center, walks past mannequins in a clothing store in Boston. The nation’s small businesses slashed more than 11 million jobs in April as they were forced to close or suffered steep revenue losses amid the coronavirus outbreak. That report comes from payroll provider ADP, which counted the jobs lost at its business customers with under 500 workers. (AP Photo/Steven Senne, File)
AP News Staff
May 06, 2020 - 12:13 pm
NEW YORK (AP) — While thousands of small businesses waited for coronavirus relief money to arrive, they were shutting down and laying off workers. Two reports issued this week shed light on the crisis that business owners have been struggling through since the coronavirus hit. On Wednesday, payroll...
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FILE - In this Wednesday, April 15, 2020, file photo, an Illinois Department of Employment Security office is closed in Chicago. At least a half-dozen states, including Illinois, already have notified the federal government that they could need to borrow billions of dollars to pay unemployment benefits because their own trust funds are running out of money. Though the shortfalls won't prevent unemployed workers from getting government aid, the federal loans could lead to higher taxes for businesses in future years to repay the debt. (AP Photo/Nam Y. Huh, File)
AP News Staff
May 06, 2020 - 7:32 am
BALTIMORE (AP) — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse as the coronavirus outbreak closed of offices, factories, schools, construction sites and stores that propel the U.S. economy. The Wednesday report from payroll company ADP showed the tragic depth and...
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Mohammad Ikram closes a large door to his business Hot Stop, fully stocked but closed during the coronavirus pandemic, on the boardwalk in Atlantic City, N.J., Tuesday, April 28, 2020. (AP Photo/Matt Rourke)
AP News Staff
April 29, 2020 - 12:30 pm
WASHINGTON (AP) — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the...
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