US Economy

On Monday, July 27, two days after the eviction moratorium in Maryland expired, Timothy Young, his wife, Tammy, and their two children, Hermione, 8, and Negan, 2, scrambled to move out of their duplex. They’d received their notice to vacate.  Young estimates that he’s applied to more than 400 jobs over the last few months, and nothing has panned out....

Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring.

Papa John’s on Monday announced it would hire 10,000 more workers as it tries to meet surging demand for its pizzas.  Consumers who are sheltering in place are ordering more Papa John’s food during the coronavirus pandemic. During the three months ended June 28, the pizza chain’s North American same-store sales soared 28%, according to its preliminary estimates.  The company recently...

Negotiations over the next COVID-19 rescue bill are in flux

More airline employees are signing up for buyouts, leaves of absence and early retirements as the threat of furloughs looms this summer.

Treasury Secretary Steven Mnuchin is urging Congress to quickly enact a new pandemic relief package targeting hardest-hit swaths of the economy, as lawmakers race to stand up federal aid in the face of the latest spike in coronavirus cases across much of the Sun Belt and persistent severe unemployment

Joe Biden has released a $2 trillion plan aimed at combating climate change and spurring economic growth in part by overhauling America’s energy industry

It is the perfect storm for the nation’s homebuilders. A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs made for remarkable housing demand in June.

The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues

Bed Bath & Beyond said Wednesday its sales tumbled nearly 50% during its latest quarter, even as online sales surged more than 100% during April and May, with consumers stocking up on cleaning supplies and home decor.

Renters are nearing the end of their financial rope as the assistance and protections given to them during the pandemic run their course

Newly released government data show at least a dozen lawmakers have ties to organizations that received federal coronavirus aid

As jobs vanish, incomes drop and food prices rise, more Americans are going to bed hungry — and advocates warn that without intervention from Congress, those numbers could rise to a level unseen in modern times.

The denim maker Levi Strauss & Co.’s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the Covid-19 crisis.  Consumers by and large have shifted away from tight pants and denim, opting instead for loungewear and pants...

Democrats have driven a temporary extension of a popular subsidy program for small businesses through the GOP-controlled Senate.

Billions of dollars offered by Congress as a lifeline to small businesses in the pandemic are about to be left on the table when a key government program stops accepting loan applications

President Donald Trump indicated Monday he’s open to a second round of stimulus payments as the U.S. economy continues to reel from the coronavirus pandemic.

McDonald’s said Thursday that it would hire 260,000 workers in the United States this summer. The announcement follows similar hiring plans from Subway, Yum Brands’ Taco Bell, Panda Express and Dunkin. However, McDonald’s plans are nearly double all four of those chains’ combined summer hiring plans. The Chicago-based chain is one of the largest private employers in the country. The summer months typically spark...

Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022

The worst U.S. downturn since the Great Depression is now officially a recession, according to the National Bureau of Economic Research.