Economy – CNBC

US payrolls plunge 701,000 in March amid the start of a job market collapseUS payrolls plunge 701,000 in March amid the start of a job market collapse

US payrolls plunge 701,000 in March amid the start of a job market collapse

It was the first decline in payrolls since September 2010 and came close to the May 2009 financial crisis peak…

4 hours ago
Small businesses have ‘a million questions’ about paycheck relief loan as applications come dueSmall businesses have ‘a million questions’ about paycheck relief loan as applications come due

Small businesses have ‘a million questions’ about paycheck relief loan as applications come due

As the SBA prepares to start accepting applications for payroll relief loans on Friday, business owners are confused about the…

4 hours ago
Coronavirus could create ‘a generation of supersavers’ and reshape the economyCoronavirus could create ‘a generation of supersavers’ and reshape the economy

Coronavirus could create ‘a generation of supersavers’ and reshape the economy

A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts…

4 hours ago
Jobs may not come totally back for years, all depending on how small businesses weather this stormJobs may not come totally back for years, all depending on how small businesses weather this storm

Jobs may not come totally back for years, all depending on how small businesses weather this storm

By some estimates, it will take until 2023 or even longer to bring the labor market back to where it…

4 hours ago
US jobless claims could soon exceed 8 million, economist projectsUS jobless claims could soon exceed 8 million, economist projects

US jobless claims could soon exceed 8 million, economist projects

The number of weekly unemployment claims filed in the U.S. could soon exceed 8 million as the fallout from widespread…

4 hours ago
US weekly jobless claims double to 6.6 millionUS weekly jobless claims double to 6.6 million

US weekly jobless claims double to 6.6 million

First-time claims for unemployment insurance had been expected to total 3.1 million, according to economists surveyed by Dow Jones.

4 hours ago
These states could be hit with the biggest job losses from the coronavirus pandemicThese states could be hit with the biggest job losses from the coronavirus pandemic

These states could be hit with the biggest job losses from the coronavirus pandemic

When the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to…

8 mins ago
Fed’s Eric Rosengren says the central bank ‘acted quickly’ but Congress will need to do moreFed’s Eric Rosengren says the central bank ‘acted quickly’ but Congress will need to do more

Fed’s Eric Rosengren says the central bank ‘acted quickly’ but Congress will need to do more

The Boston Fed president still expects big hits from coronavirus on the economy, particularly employment.

8 mins ago
Coronavirus effect could be ‘far deeper than the subprime crisis,’ says mortgage company CEOCoronavirus effect could be ‘far deeper than the subprime crisis,’ says mortgage company CEO

Coronavirus effect could be ‘far deeper than the subprime crisis,’ says mortgage company CEO

For most mortgage borrowers, the first of the month is payment day. This month, however, is a very different story.…

8 mins ago
Mnuchin says he will ask Congress for more small business loan funding if $350 billion pool runs outMnuchin says he will ask Congress for more small business loan funding if $350 billion pool runs out

Mnuchin says he will ask Congress for more small business loan funding if $350 billion pool runs out

The $350 billion loan program aims to help small businesses cover payroll and benefits during the coronavirus pandemic.

8 mins ago