The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of 52.6. Any reading above 50 signals that U.S. manufacturing is expanding.
The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday.
Pew Research Center reports that 52% of Americans are in middle-income households.
The White House has dropped a bid to cut Social Security payroll taxes as Republicans unveil a $1 trillion COVID-19 rescue package.
The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy.
The desperate race to corral the coronavirus pandemic is taking on even greater urgency as a burgeoning economic crisis collides with political turmoil.
U.S. wholesale prices fell 0.2% in June as food costs dropped sharply, offsetting a big increase in energy prices.
As a recent coronavirus resurgence threatens to derail the U.S. economy's gradual recovery from the worst downturn since the Great Depression, the spike in cases has put added pressure on Congress to pass another round of fiscal aid.
IRS permits more Americans to tap retirement accounts without penalty.
About 41 million people have now applied for aid since the virus outbreak intensified in March, though not all of them are still unemployed.
The sudden loss in income is causing a growing number of Americans to tap their retirement savings accounts.
Many major auto insurance companies in the U.S. are offering policyholders some sort of refund or credits.
Interest rates will remain at zero percent until the financial effects of the coronavirus pandemic begin to subside, which is good news for some consumers, the Federal Reserve announced Wednesday.
Fewer than half of working-age Americans could earn a paycheck in May as the coronavirus pandemic triggers millions of job losses.
Small businesses could soon be shuttering their doors as the result of the coronavirus pandemic, concerning entrepreneurs who are part of the fabric of our country.
More U.S. cities are capping commission fees third party delivery services charge restaurants, many of which are mom-and-pop small business owners.
U.S. stores will be open for to-go and delivery service, with cafe seating remaining closed to customers.
The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.
According a report from The Intercept, the employees will call in sick or walk off the job during their lunch break.
The order will use the Defense Production Act to classify meat processing as critical infrastructure to keep production plants open, according to the Associated Press.