Recessions and depressions

Home Depot customers carry their purchases as they leave the store, Friday, April 3, 2020 during the coronavirus pandemic in New York. (AP Photo/Mark Lennihan)
April 03, 2020 - 6:15 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ____________ COSTS MOUNT: The pandemic will cost the global economy as much as $4.1...
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Pat Marmo, owner of Daniel J. Schaefer Funeral Home, walks through a viewing room set up to respect social distancing, Thursday, April 2, 2020, in the Brooklyn borough of New York. He and other funeral directors are seeing a surge of clients because of the coronavirus pandemic. (AP Photo/John Minchillo)
April 02, 2020 - 10:04 pm
NEW YORK (AP) — The coronavirus outbreak has thrown 10 million Americans out of work in just two weeks in the swiftest, most stunning collapse the U.S. job market has ever witnessed, and the public health crisis deepened in New York City, where a funeral home in a hard-hit neighborhood had 185...
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European Commission President Ursula von der Leyen speaks during a media conference, detailing EU efforts to limit the economic impact of the Covid-19 outbreak, at EU headquarters in Brussels, Thursday, April 2, 2020. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (Francois Lenoir, Pool Photo via AP)
April 02, 2020 - 10:51 am
BRUSSELS (AP) — As the new coronavirus spreads across Europe, ravaging economies and killing thousands, governments and the European Union are focusing much of their economic rescue efforts on containing a boom in joblessness, particularly by helping companies not fire workers. Unions estimate,...
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FILE - In this March 13, 2020 file photo, unionized hospitality workers wait in line in a basement garage to apply for unemployment benefits at the Hospitality Training Academy in Los Angeles. More than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus. (AP Photo/Marcio Jose Sanchez, File)
April 02, 2020 - 10:23 am
WASHINGTON (AP) — More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus outbreak. Combined with last week's report that 3.3 million people sought...
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President Donald Trump hands a pen to Senate Majority Leader Mitch McConnell of Ky., after signing the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. From left, White House chief economic adviser Larry Kudlow, Treasury Secretary Steven Mnuchin, McConnell, Trump, House Minority Leader Kevin McCarty, R-Calif., and Vice President Mike Pence. (AP Photo/Evan Vucci)
April 02, 2020 - 5:23 am
WASHINGTON (AP) — President Donald Trump aims to shovel $2.2 trillion into the U.S. economy over the next few weeks to try to cushion its free fall. But that means putting his fate in the hands of banks, profit-minded businesses and government bureaucrats he has frequently derided, along with a man...
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A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, April 1, 2020. Asian shares were mixed Wednesday, on continuing worries about the economic fallout from the pandemic as reports of coronavirus cases keep surging in various regions. (AP Photo/Vincent Yu)
March 31, 2020 - 9:57 pm
TOKYO (AP) — Asian shares were mixed on Wednesday, on continuing worries about the economic fallout from the pandemic as reports of coronavirus cases keep surging in various regions. Japan's benchmark Nikkei 225 dropped 1.7% in morning trading to 18,588.90. Adding to the damage was the Bank of...
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FILE - In a Thursday, July 4, 2019 file photo, Vice President Mike Pence, center, his wife Karen Pence, pose for a group photo with new naturalized citizens following a naturalization ceremony at the National Archives in Washington. Almost half of the foreign-born who moved to the U.S. in the past decade were college-educated, a level of education greatly exceeding immigrants from previous decades, as the arrival of highly skilled workers supplanted workers in fields like construction that shrunk after the Great Recession. New figures released this week by the U.S. Census Bureau show that 47% of the foreign-born population who arrived in the U.S. from 2010 to 2019 had a bachelor’s degree or higher, compared to 36% of native-born Americans and 31% of the foreign-born population who entered the country in or before 2009. (AP Photo/Pablo Martinez Monsivais, File)
March 31, 2020 - 12:32 pm
ORLANDO, Fla. (AP) — Almost half of the foreign-born who moved to the U.S. in the past decade were college-educated, a level of education greatly exceeding immigrants from previous decades, as the arrival of highly skilled workers supplanted workers in fields like construction that shrunk after the...
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A sparsely occupied Fifth Avenue, usually bustling with traffic, appears at midday on Wednesday, March 18, 2020 in New York. (Photo by Evan Agostini/Invision/AP)
March 31, 2020 - 10:20 am
LONDON (AP) — The coronavirus-related recessions around the world are going to be bad — and for some of the world's major industrial nations the worst that anyone alive has experienced, according to analysts at Deutsche Bank. In a wide-ranging report using data that in parts goes back 800 years,...
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March 31, 2020 - 7:54 am
BALTIMORE (AP) — U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the coronavirus outbreak caused millions of job losses and tossed the U.S. economy into a likely recession. The S&P CoreLogic Case-Shiller 20-city home price...
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Linda DeFrancesco stocks shelves with her farm's own salsa, spreads, veggies and salsa at DeFrancesco Farm Stand in Northford, Conn., Thursday, March 26, 2020. Businesses across the state are worried about the impact of the coronavirus, even the ones considered "essential" like farmers' markets and garden centers. The farm stand opens Saturday at 10 a.m. (Dave Zajac/Record-Journal via AP)
March 30, 2020 - 1:49 pm
NEW YORK (AP) — When will the money arrive? That's the urgent question for small business owners who have been devastated by the coronavirus outbreak. They're awaiting help from the $2 trillion rescue package signed into law Friday. But with bills fast coming due, no end to business closings and an...
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