Recessions and depressions

House Speaker Nancy Pelosi of Calif., center, accompanied by Senate Minority Leader Sen. Chuck Schumer of N.Y., left, speak to reporters following a meeting with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows as they continue to negotiate a coronavirus relief package on Capitol Hill in Washington, Friday, Aug. 7, 2020. (AP Photo/Andrew Harnik)
August 10, 2020 - 9:46 pm
WASHINGTON (AP) — Speaker Nancy Pelosi is not about to blink. The Democratic leader has been here before, negotiating a deal with the White House to save the U.S. economy, and lessons from the Great Recession are now punctuating the coronavirus talks. With Republicans again balking at big...
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Fashion school graduate Phoebe St. Leger poses for a photo in Florence, Italy, Jan. 25, 2018. Around the world, young people armed with new degrees, diplomas and professional qualifications are struggling to enter the workforce as the pandemic pushes the global economy into recession. British fashion school graduate Phoebe St. Leger’s dream of landing a job at a design label is on hold. The coronavirus forced the cancellation of her university graduating class's final-year fashion show, which removing the chance to show her knitwear collection to people in the industry, some of whom might have liked her work enough to offer her a job. (Shannon Davidson via AP)
August 10, 2020 - 3:03 am
LONDON (AP) — British fashion school graduate Phoebe St. Leger’s dream of landing a job at a design label is on hold. Like many others in the global Class of 2020, the pandemic is clouding her career ambitions. The coronavirus forced the cancellation of her university graduating class's final-year...
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President Donald Trump signs an executive order during a news conference at the Trump National Golf Club in Bedminster, N.J., Saturday, Aug. 8, 2020. (AP Photo/Susan Walsh)
August 09, 2020 - 6:28 pm
NEW YORK (AP) — President Donald Trump's new executive orders to help Americans struggling under the economic recession are far less sweeping than any pandemic relief bill Congress would pass. Trump acted Saturday after negotiations for a second pandemic relief bill reached an impasse. Democrats...
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FILE - In this July 9, 2020, file photo, a large video display reads "Now hiring for our new hotel coming soon!," at the new Emerald Queen Casino, which is open, and owned by the Puyallup Tribe of Indians, in Tacoma, Wash. The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus has weakened hiring and the economic rebound. (AP Photo/Ted S. Warren, File)
August 07, 2020 - 5:55 pm
WASHINGTON (AP) — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned. The United States added 1.8 million jobs in July, a...
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August 06, 2020 - 7:50 am
LONDON (AP) — Turkey’s currency dropped to an all-time low against the dollar on Thursday as the global recession created by the pandemic brings to the fore weaknesses in the country's economy. The Turkish lira fell to 7.2775 against the dollar before recovering slightly to around 7.24, compared...
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FILE - In this Feb. 5, 2019, file photo, Alaska Airlines planes are parked at a gate area at Seattle-Tacoma International Airport in Seattle. Alaska Airlines said over 300 employees among the company's workforce in Anchorage may lose their jobs on Oct. 1, 2020. The company said the Anchorage layoffs are part of company-wide job cuts because of the economic fallout from the coronavirus pandemic, Alaska Public Media reported Tuesday, Aug. 4. (AP Photo/Ted S. Warren, File)
August 06, 2020 - 7:43 am
WASHINGTON (AP) — Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired. The Labor Department’s report Thursday marked the 20th...
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This photo provided by Samsung shows the Galaxy Note20 Ultra, from Samsung. Samsung aims to lift sinking smartphone sales with two new models that will test consumers' willingness to buy high-priced gadgets during the worst economic downturn since the Great Depression. The company's latest Galaxy phones, unveiled Wednesday, Aug. 5, 2020, during an online showcase, will cost $1,000 to $1,300. (Samsung via AP)
August 05, 2020 - 1:44 pm
Samsung aims to lift its sinking smartphone sales with three new models that will test consumer willingness to buy high-priced gadgets during the worst economic downturn since the Great Depression. The latest Galaxy phones, unveiled Wednesday during an online showcase, will cost $1,000 to $1,300...
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FILE - In this Wednesday, May 13, 2020 file photo, Ford Motor Co. employees work a ventilator at the Rawsonville plant in Ypsilanti Township, Mich. The plant was converted into a ventilator factory, as hospitals battling the coronavirus report shortages of the life-saving devices. According to the Institute for Supply Management, U.S. manufacturing rebounded in June 2020 as major parts of the country opened back up, ending three months of contraction in the sector caused by the coronavirus pandemic. (AP Photo/Carlos Osorio)
August 03, 2020 - 9:42 am
WASHINGTON (AP) — U.S. manufacturing improved again in July with a key gauge of activity rising further into expansion territory. 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...
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FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla. U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again. (AP Photo/Lynne Sladky, File
July 31, 2020 - 9:21 am
WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...
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FILE - In this June 1, 2020, file photo, waiters prepare the terrace of a restaurant in order to respect distancing measures in Paris as France gradually lifts its lockdown due to the coronavirus. France's economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said Friday, July 31, 2020. (AP Photo/Christophe Ena, File)
July 31, 2020 - 7:32 am
PARIS (AP) — The economy of the 19-country eurozone shrank by a devastating 12.1% in the April-June period from the quarter before - the largest drop on record - as coronavirus lockdowns shut businesses and hampered consumer spending. Economists say the worst of the downturn is past as many...
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