Recessions and depressions

A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, June 5, 2020. Asian markets are mostly lower after Wall Street rally takes a breather, as investors parse unemployment data. (AP Photo/Eugene Hoshiko)
June 05, 2020 - 10:35 am
Stocks are rushing higher Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline. The S&P 500 was up 2.6% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists...
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A woman walks past a boutique with a sale sign, Thursday, June 4, 2020, in Cleveland Heights, Ohio. The state says more than 34,000 Ohioans filed unemployment claims during the last week of May. That is the lowest figure since Ohio's stay-at-home orders depressed the economy and led to widespread layoffs. (AP Photo/Tony Dejak)
June 05, 2020 - 7:42 am
WASHINGTON (AP) — The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic. The May job gain suggests that businesses have quickly been...
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Dealers in masks wait for customers before the reopening of the D Las Vegas hotel and casino, Wednesday, June 3, 2020, in Las Vegas. Casinos were allowed to reopen on Thursday after temporary closures as a precaution against the coronavirus. (AP Photo/John Locher)
KNSS News
June 04, 2020 - 11:29 am
LAS VEGAS (AP) — The casino coronavirus closure has ended. Cards are being dealt, dice are rolling and slot machines flashed and jingled for the first customers who started gambling again early Thursday in Las Vegas and throughout Nevada. “The past few months have presented our city with an...
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FILE - In this Thursday, March 19, 2020 file photo, a pedestrian wearing a surgical mask and gloves walks past the New York Stock Exchange in New York. Much of Wall Street is still skeptical of the huge surge for stocks over the last two months. Stocks have a long history of making big gains within long-term down markets, only for the bottom to give out again. (AP Photo/Kevin Hagen)
June 04, 2020 - 10:36 am
Just because stocks have scrambled nearly all the way back to their record heights doesn’t necessarily mean the market is in the clear. Stocks have a long history of making big gains within long-term down markets, only for the bottom to give out again. Such mini-, ultimately futile rallies were...
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In this Wednesday, June 3, 2020 photo, Juan Santos stocks shelves at the Presidente Supermarket in the Little Havana neighborhood of Miami. The U.S. government is set to issue its latest report on the layoffs that have left millions unemployed but have steadily slowed as many businesses have begun to reopen and to rehire some laid-off workers. (AP Photo/Wilfredo Lee)
June 04, 2020 - 9:05 am
WASHINGTON (AP) — Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs. The total number of people who are receiving jobless aid rose slightly to 21...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)
KNSS News
June 03, 2020 - 3:08 pm
Stocks closed higher on Wall Street, extending the market’s winning streak to a fourth day. The S&P 500 rose 1.4% Wednesday. Investors are hoping that the economy will continue to open up following the lockdowns put in place to stem the spread of the coronavirus. Treasury yields also rose in a...
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FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y. Huh, File)
June 03, 2020 - 2:01 pm
WASHINGTON (AP) — The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are estimated to have been lost. Unemployment could near 20%. And potentially fewer than half of all...
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A waitress wearing a face mask to protect against coronavirus carries out a plate of fish to serve at a seafood restaurant in Marseille, southern France, Tuesday, June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. (AP Photo/Daniel Cole)
June 03, 2020 - 9:44 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TESTING THE WATERS: Businesses are starting reopen...
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FILE - In this April 30, 2020 file photo, a man writes information in front of Illinois Department of Employment Security in Chicago. U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy. The Wednesday, May 6, report from payroll company ADP showed the tragic depth and scale of job losses that left no part of the world’s largest economy unscathed.  (AP Photo/Nam Y. Huh, File)
KNSS News
June 03, 2020 - 7:55 am
BALTIMORE (AP) — U.S. businesses shed 2.8 million jobs in May, significantly less than the 9.3 million job losses that were expected. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March, with the bulk of the layoffs occurring in April...
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Ryongwang Senior Middle School students have their temperatures checked before entering the school in Pyongyang, North Korea, Wednesday, June 3, 2020. All the schools in the country start their lessons this month after delays over concern about the new coronavirus. (AP Photo/Jon Chol Jin)
June 03, 2020 - 5:07 am
SEOUL, South Korea (AP) — South Korea on Wednesday reported 49 new cases of COVID-19, continuing a weekslong resurgence of the virus as the government defended its decision to reopen schools despite health risks. The figures announced by the Korea Centers for Disease Control and Prevention on...
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