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US economy

NPR
The Coronavirus Crisis
A sign asking patrons to wear a mask is seen at the entrance of a restaurant in New York City on Aug. 3. The spread of the delta variant led to sharply slower economic growth in the July-to-September quarter.

How the economy went from sizzle to fizzle, and why there's hope for a way back

Oct 28, 2021
The U.S. economy slowed sharply in the third quarter as the delta variant and persistent supply chain woes weighed on growth. The months ahead should be better.
NPR
Business
Lamar Cornett has worked in restaurants for more than 20 years. During the pandemic, he began thinking about leaving that career behind.

Low Pay, No Benefits, Rude Customers: Restaurant Workers Quit At Record Rate

Jul 20, 2021
Average wages for nonmanagers at restaurants and bars hit $15 an hour in May, but many say no amount of pay would get them to return. They are leaving at the highest rate in decades.
NPR
The Coronavirus Crisis
A sign noting a retail space is available for lease appears in San Francisco in December. A resurgence in the pandemic likely dealt a major blow to the U.S. economy in the fourth quarter.

Down But Not Out: Pandemic Likely Dealt Blow To Economy, But There's Room For Hope

Jan 27, 2021
The U.S. economy is likely to have slowed in the last three months of the year, ending 2020 smaller than it began. But for some companies, business is now back to pre-pandemic levels.
NPR
Biden Transition Updates
President-elect Joe Biden's pick to lead the Treasury Department, Janet Yellen, here in 2019, is urging greater federal spending to cope with the pandemic and to help boost the struggling economy.

Yellen Urges Congress To 'Act Big' To Prop Up Pandemic-Scarred Economy

Jan 19, 2021
At her confirmation hearing Tuesday, Treasury Secretary-designate Janet Yellen warned that without more federal help, the recession would last longer and be more painful than necessary.
NPR
The Coronavirus Crisis
Then presidential candidate Joe Biden speaks at a "Build Back Better" Clean Energy event on July 14, 2020. On Thursday, Biden unveiled an ambitious economic plan just days before he's set to be inaugurated as president.

$1,400 Checks And Help For The Jobless: What's In Biden's Plan To Rescue The Economy

Jan 14, 2021
President-elect Joe Biden is proposing a $1.9 trillion plan to address the coronavirus pandemic and the resulting economic crisis.
NPR
The Coronavirus Crisis
With coronavirus cases surging in December, restaurants, movie theaters and other businesses that rely on in-person traffic struggled, weighing on the U.S. job market.

Pandemic Pricetag: U.S. Employers Cut 140,000 Jobs In December

Jan 08, 2021
The runaway pandemic put more pressure on the U.S. job market last month. Employers shed 140,000 jobs as the unemployment rate held steady at 6.7%.
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NPR
Coronavirus Updates
As the number coronavirus cases rises across the country, so too does the number of consumers reluctant to head out.

Unemployment Claims Jump Just Before Critical Aid Programs Are Set To Expire

Dec 10, 2020
Jobless claims rose sharply last week as critical relief programs, including expanded jobless benefits, are due to expire the day after Christmas.
NPR
Coronavirus Updates
A protester holds a sign to protest measures in Miami to close indoor seating amid a rise in coronavirus cases. The number of unemployment claims rose for a second week, reinforcing concerns about the economy.

Unemployment Claims Jump For 2nd Week As Pandemic Rages

Nov 25, 2020
Claims for state unemployment benefits again rose last week, signaling ongoing weakness in the job market as coronavirus infections continue to soar.
NPR
The Coronavirus Crisis
A woman sits in a theater in Irvine, Calif., waiting for a movie to start, on Sept. 8. A COVID-19 vaccine could unleash pent-up spending from households that have mostly avoided activities like going to the gym during the coronavirus pandemic.

Vaccine Could Unlock Trillions In Spending, Leading To 'Biden Boom'

Nov 13, 2020
Pent-up demand from households that have been cooped up over the last eight months could drive a spending boom in the spring, providing a big boost to the economy.
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NPR
The Coronavirus Crisis
A woman holds a sign saying "We Need Our Jobs" during a protest by workers in the cruise ship industry in Miami last month. Employers added fewer jobs as pandemic cases start to surge again across the country.

Unemployment Drops To 6.9%, But Pandemic Surge Clouds Recovery

Nov 06, 2020
U.S. employers added 638,000 jobs last month as the unemployment rate dipped to 6.9%. A winter spike in coronavirus infections threatens to further weaken job growth.
NPR
Politics
Voters are sharply divided along partisan lines and their views on President Trump and Joe Biden when it comes to the economy and the pandemic, according to a massive poll conducted by The Associated Press.

Election Shows Stark Partisan Divide On Economy, Coronavirus

Nov 04, 2020
Partisan views are shaping opinions of the economy as the nation slowly digs its way out of the coronavirus recession.
NPR
The Coronavirus Crisis
Signs in the window of a retail store offers discounts, and jobs, in Santa Monica, Calif. U.S. GDP grew at a record-setting rate, reflecting pent-up activity after the coronavirus lockdowns, but economists warn of trouble ahead.

U.S. Economy Grows At Record Pace But Still Has A Long Way To Go

Oct 29, 2020
U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession.
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NPR
The Coronavirus Crisis
A store advertises discounts in Santa Monica, Calif., on July 28 amid the coronavirus pandemic. Economic growth data on Thursday are expected to show a record-setting figure for the third quarter, but that covers the more worrisome picture underneath the

Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster

Oct 28, 2020
The U.S. is expected to report record-setting economic growth in the most recent quarter. But that won't repair all of the damage done during the spectacular downturn three months earlier.
NPR
Coronavirus Live Updates
Federal Reserve Chair Jerome Powell has said the Fed is ready to support the economy as a recovery falters.

As Economic Recovery Slows, Fed Sees Many Risks And Pledges Full Support

Sep 16, 2020
The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
NPR
The Coronavirus Crisis
People eat in an outdoor dining area in New York City's Chinatown on Aug. 10. Economists warn spending may suffer this month.

Rebound In Consumer Spending Fades In July

Aug 28, 2020
Consumer spending rose 1.9% last month — but the rebound slowed from May and June. Unemployment benefits continued to prop up spending in July, but that may change in August.
NPR
The Coronavirus Crisis
The extra $600-a-week unemployment benefit has kept jobless people from plummeting into further debt and has allowed for sustained spending, a boon for the struggling economy.

U.S. Economy On High Alert Over Shaky Future Of Extra Jobless Benefits

Aug 06, 2020
As Congress debates whether to renew supplemental unemployment benefits for people thrown out of work by the pandemic, new research shows those benefits offer a critical boost for the U.S. economy.
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NPR
Coronavirus Live Updates
United Airlines says it plans to furlough up to 36,000 employees as the pandemic continues to batter the travel industry and much of the economy.

'Devastated': As Layoffs Keep Coming, Hopes Fade That Jobs Will Return Quickly

Jul 09, 2020
Applications for jobless benefits are up again. "What we're seeing now is that lots more people who are unemployed are going to be unemployed for a longer period of time," economist Nick Bunker says.
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NPR
Coronavirus Live Updates
Boxes of food are loaded on vehicles last month at the Los Angeles Regional Food Bank. The country has officially entered a recession amid the pandemic, the National Bureau of Economic Research said Monday.

It's Official: U.S. Economy Is In A Recession

Jun 08, 2020
The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
NPR
Economy
President Trump prepares to sign the tax legislation in the Oval Office on Dec. 22, 2017. The GOP tax cut did not pay for itself, as promised, nor did it deliver a sustained boost to economic growth.

After 2 Years, Trump Tax Cuts Have Failed To Deliver On GOP's Promises

Dec 20, 2019
The president said it would be "rocket fuel for our economy," but the Republican tax cut passed in 2017 did not pay for itself as promised — nor did it deliver a sustained boost to growth.
NPR
Economy
Federal Reserve Chairman Jerome Powell has said he's not predicting a recession, but the trade war could hurt business spending. "Uncertainty around trade policy is causing some companies to hold back now on investment," he said this month.

Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy

Sep 18, 2019
The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
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