CNBC: Economy

May unemployment looks worse than expected, signaling another bad jobs report could be coming

So far, state reopenings have not helped stem the rise in unemployment, which is expected to show another big jump in the month of May.

Mitch McConnell says next coronavirus bill will not extend enhanced unemployment benefits

House Democrats passed a bill last week to extend the enhanced $600 per week unemployment benefit through January.

Second wave of coronavirus infections could cause a worse economic disaster, experts warn

States across the country began reopening parts of their economies as early as April 24. Guidelines for reopening differ widely but a key difference lies in which sector can open first and the speed

Home sales dropped nearly 18% in April, while decline in inventory pushed prices to a record high

The economic fallout from the coronavirus hit the housing market hard in April.

Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks

The total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late

More than half of small businesses are looking to have PPP funds forgiven, survey says

Frustrations are mounting on Main Street due to a lack of guidance from the Small Business Administration on PPP loan forgiveness, a new survey shows.

Fed minutes show fears of 'extraordinary amount of uncertainty and considerable risks' because of coronavirus

The meeting, which ended April 29, concluded with the central bank's policymaking arm holding steady on interest rates and pondering future measures ahead.

Dallas Fed President Robert Kaplan says more fiscal help will be needed, including aid to states

More help will be needed from the Federal Reserve and Congress to get the U.S. economy through its current slump, Dallas Fed President Robert Kaplan told CNBC.

As states reopen, it's a race against the clock for small businesses to pay bills and stay solvent

As states reopen, the focus has turned to whether smaller companies can find enough business to survive, preventing a wave of failures.

Weekly mortgage applications point to a remarkable recovery in homebuying

If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses.

CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit

The CBO also projects 26 million more unemployed Americans than there were at the end of 2019.

U.S. housing starts fall sharply in April

U.S. homebuilding dropped to a five-year low in April, underlining fears that the novel coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great

Jamie Dimon says coronavirus crisis is 'wake-up call' for a more inclusive economy

Dimon detailed the steps his firm has taken to support customers and employees since the crisis began two months ago.

Unemployment is nearing Great Depression levels. Here's how the eras are similar — and different

The unemployment rate is at its highest since the Great Depression. The current situation differs from that of the early 20th century in a few ways that may prevent the U.S. from entering another

Powell to tell Congress the Fed is committed to using all tools to fight the unprecedented downturn

"We are committed to using our full range of tools to support the economy in this challenging time," Powell said in remarks he will deliver to the Senate.

Homebuilder sentiment bounces back in May, after record plunge in April

After the sharpest one-month drop in the history of the index in April, homebuilder sentiment bounced back slightly in May as builders saw a quick rebound in interest from buyers.

Federal government should help states, cities and hospitals recover from coronavirus, Gary Cohn says

Former Trump advisor Gary Cohn said that a potential vaccine shouldn't stop the government from providing aid to parts of the country that have been hobbled by the economic shutdown.

Trump advisor Kevin Hassett: Fed chief too pessimistic on time it'll take for economy to recover

White House senior advisor Kevin Hassett told CNBC on Monday he disagrees with Fed Chairman Jerome Powell on the time-frame for an economic recovery.

LinkedIn data shows U.S. job hiring may have hit bottom in mid-April

The U.S. may have experienced the worst of its coronavirus-related job losses in mid-April, and hiring could be on the verge of starting to recover, according to data gathered by LinkedIn and provided

Powell says GDP could shrink more than 30%, but he doesn't see another Depression

The central bank chief conceded that jobless numbers will look a lot like they did during the 1930s.