U.S. March, April job losses revised higher

WASHINGTON (Reuters) – The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week. The Labor’s Department’s Bureau of Labor Statistics (BLS), which compiles the closely followed monthly employment report, also raised March’s job losses to show nonfarm payrolls decreasing 881,000 […]

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U.S. consumer prices post largest decrease since 2008

WASHINGTON (Reuters) – U.S. consumer prices dropped by the most since the Great Recession in April, weighed down by a plunge in demand for gasoline and services including airline travel as Americans stayed home during the coronavirus crisis. The report from the Labor Department on Tuesday also showed a record decline in underlying prices last month, raising the specter of […]

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Still hiring! Walmart, other superstores buck U.S. employment trend

WASHINGTON (Reuters) – Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N), the world’s largest retailer, added more than 90,000 jobs. Overall, roughly 20.5 million people lost their jobs in April, the U.S. Labor Department said on Friday, a wipeout of jobs at a rate not seen since the […]

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U.S. joblessness slams Latinos, less educated with brutal force

WASHINGTON (Reuters) – The U.S. economy’s record run of job growth and historically low unemployment has been stopped in its tracks by the fight against the coronavirus pandemic: joblessness hit 14.7% in April, and even if it starts to fall in coming weeks there will be scars. And the scars are deeper for some than others. Just as the decade-long […]

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Coronavirus: Economy on track for deepest decline ‘in living memory’

The UK economy is heading for its biggest contraction “in living memory”, according to a report highlighting a slump in activity for the UK’s powerhouse services sector. The IHS Markit/CIPS Purchasing Managers’ Index (PMI) for April suggested a contraction in quarterly GDP (gross domestic product) of at least 7%. But it cautioned that the number would be expected to be […]

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UPDATE 1-Moody's cuts Mexico 2020 GDP forecast to -7%

(Adds details) MEXICO CITY, May 4 (Reuters) – Credit rating agency Moody’s Investors Services said on Monday that it had revised down its forecast for Mexico’s economic performance in 2020 to a contraction in gross domestic product (GDP) of 7% from a contraction of 3.7% previously. “While the coronavirus outbreak represents a large and negative shock to the economy, weak […]

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