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A larger proportion of Americans have lost their jobs during this pandemic than at any time since the Great Depression. In the UK, unemployment increased to 2.1 million in April, and economists expect millions more people to become unemployed once the furlough scheme ends. The current, acute crisis in unemployment is likely to become a […] More
The US economy risks “permanent damage” if coronavirus lockdowns continue for months, the treasury secretary, Steven Mnuchin, has warned Congress. Mnuchin’s comments came in a joint appearance before the Senate banking committee with Jerome Powell, the chairman of the Federal Reserve. Appearing via video link, the pair offered a stark assessment of the fragile state […] More
Since the beginning of 2020, Russian President Vladimir Putin’s popularity has dropped to its lowest point in 14 years. From February to March, Putin’s favorability dropped from 69% to 63%, and his disapproval ratings rose from 30% to 36%. While the Russian president continues to have a net favorability among his citizens, the declining numbers […] More
With West Texas Intermediate futures trading in negative territory for the first time in history, it seemed the market had finally come to terms with what experts had long warned: The world is running out of oil storage. With human movement restricted due to the coronavirus pandemic, aviation grounded and the global economy halted, demand […] More
Welcome to “Chewing the Fat,” our weekly talk show here at WXYZ. Today, we have a special treat for you: two guests who will answer the question on everyone’s mind. Should we stay at home in virtual quarantine or should we head out the front door and reopen the economy? The coronavirus pandemic is still claiming lives, nearly […] More
Professor argues US president is stabbing citizens in back while pretending to be saviour Coronavirus – latest updates See all our coronavirus coverage Donald Trump has frozen payments to the World Health Organization amid the coronavirus crisis. Photograph: White House/Zuma Wire/Rex/Shutterstock Donald Trump is culpable in the deaths of thousands of Americans by using the […] More
Under Trump, American exceptionalism means poverty, misery and death Robert Reich No other advanced nation denies healthcare and work protections, or loosens lockdown while fatalities mount Donald Trump listens during a meeting with Republican members of Congress on Friday. Photograph: Tom Brenner/Reuters No other nation has endured as much death from Covid-19 nor nearly as […] More
Four causes for alarm in the US jobs figures – and one possible reason for hope More than 20m Americans lost their jobs in April – and Friday’s report suggests there might be much more trouble ahead Jobs figures: April worst month since Great Depression A closed thrift shop in downtown Hialeah in Florida. The […] More
