CBO Sees Double-Digit Jobless Rate Through 2020, GDP to Shrink 5.9%

The jobless rate is expected to remain in double-digits through the end of the year, and the economy will shrink an estimated 5.9%, according to projections released by the Congressional Budget Office. 


 
U.S. Unemployment Rate Fell to 11.1% in June

The employment report, based on survey data largely collected in mid-June, doesn't reflect recent government-mandated business closures and related layoffs in response to the coronavirus. 


 
U.S. Stocks Rally on Jobs Report

The Dow industrials and S&P 500 climbed after the June employment report showed the economy gained more jobs than expected last month. 


 
Oil Prices Rise on Jobs Report

Global crude prices rose Thursday after employment data showed the U.S. economy gained more jobs than expected last month. 


 
U.S. Oil-Rig Count Falls by 3 in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. fell by 3 in the past week to 185, according to oil-field services company Baker Hughes. 


 
Mortgage Rates Hit a Record Low-Again

Rates were weighed down by fears that the U.S. economy's recovery will be held back by new coronavirus outbreaks. 


 
Economic Recovery Fuels Bets on Lower Volatility

The Cboe Volatility Index has fallen this week as U.S. stocks staged a rebound amid optimism about an economic bounce and the Federal Reserve's stimulus. 


 
U.S. Trade Deficit Widened in May

Trade between the U.S. and the rest of the world slowed further in a sign of the continuing toll that the coronavirus pandemic was taking on the global economy. 


 
Europe Avoids Jobless Surge as Furlough Schemes Cushion Economic Decline

Unemployment in Europe rose only slightly in May, a testament to the success of government programs that pay the wages of workers put on furlough by their employers. 


 
Brace for an Autumn of Discontent

Investors need to recalibrate their expectations of what the economy will look like through the end of the year.