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Articles written by Christopher Rugaber

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AP FACT CHECK: Trump team's false comfort on schools, virus

WASHINGTON (AP) — President Donald Trump's aides are misrepresenting the record on kids and the coronavirus as they push for schools to reopen. White House press secretary Kayleigh McEnany on Monday inaccurately characterized what the chief of the...

 

Layoffs stuck at high level as 1.3 million seek jobless aid

WASHINGTON (AP) — More than 1.3 million Americans applied for unemployment benefits last week, a historically high pace that shows that many employers are still laying people off in the face of a resurgent coronavirus. The persistently elevated lev...

 

Richmond Fed chief: With outlook hazy, economy needs support

WASHINGTON (AP) — As president of the Federal Reserve Bank of Richmond since 2018, Tom Barkin is a member of the Fed's powerful committee that sets interest rates. The committee has been engaged this year in an extraordinary drive to support the...

 

Can job market sustain its gains? Uncertainties cloud future

WASHINGTON (AP) — Layoffs are slowing, unemployment is declining and hiring is gradually rising, suggesting that a steady rebound may be afoot in the U.S. job market. Or is it? So many uncertainties are overhanging the economy that no one knows...

 

Fed to keep providing aid and sees no rate hike through 2022

WASHINGTON (AP) — Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022. At the same time, the Fed said it will...

 

Fed acts to broaden appeal of 'Main Street' lending program

WASHINGTON (AP) — The Federal Reserve is expanding the range of companies that will qualify for its soon-to-begin Main Street Lending Program, in which the Fed will lend directly to individual companies for the first time since the Great...

 

A distinct possibility: 'Temporary' layoffs may be permanent

WASHINGTON (AP) — In late March, Britney Ruby Miller, co-owner of a small chain of steakhouse restaurants, confidently proclaimed that once the viral outbreak had subsided, her company planned to recall all its laid-off workers. Now? Miller would...

 

US unemployment surges to a Depression-era level of 14.7%

WASHINGTON (AP) — The coronavirus crisis has sent U.S. unemployment surging to 14.7%, a level last seen when the country was in the throes of the Depression and President Franklin D. Roosevelt was assuring Americans that the only thing to fear was...

 

Lost your job? Here's what you need to know

WASHINGTON (AP) — Nearly 33.5 million Americans have lost their jobs and applied for unemployment benefits in the past 7 weeks — a stunning record high that reflects the near-complete shutdown of the U.S. economy. On Friday, the government said...

 

Economic figures show grim toll in Europe and US from virus

NEW YORK (AP) — Bleak new figures Thursday underscored the worldwide economic pain inflicted by the coronavirus: The number of Americans filing for unemployment benefits has climbed past a staggering 30 million, while Europe's economies have gone...

 

Questions swirl as Fed meets amid deepening economic crisis

WASHINGTON (AP) — The Federal Reserve has largely calmed turbulent financial markets. Yet a far tougher task remains: Helping rescue an economy and job market that appear to be free-falling into the worst catastrophe since the Great Depression....

 

US relief checks begin arriving as economic damage piles up

WASHINGTON (AP) — Government relief checks began arriving in Americans' bank accounts as the economic damage to the U.S. from the coronavirus piled up Wednesday and sluggish sales at reopened stores in Europe and China made it clear that business...

 

Evidence of virus' effect on US economy grows more ominous

WASHINGTON (AP) — Evidence of the coronavirus' devastating impact on the U.S. economy has been steadily emerging, and the signs have grown ominous. Sales at stores and restaurants plunged in March by the largest amount on records dating back to...

 

Record 16.8 million have sought US jobless aid since virus

WASHINGTON (AP) — With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: More than one in 10 workers have lost their jobs in just the past three weeks to the coronavirus outbreak. The...

 

A bleak US jobs report likely portends even deeper losses

WASHINGTON (AP) — A grim snapshot of the U.S. job market's sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak that's brought the economy to a near-standstill. The...

 

US added robust 273K jobs in February before virus escalated

WASHINGTON (AP) — Hiring in the United States jumped in February as employers added 273,000 jobs, evidence that the economy was in strong shape before the coronavirus began to sweep through the nation. The Labor Department said Friday that the...

 

Healthy US job market: How big a political edge for Trump?

WASHINGTON (AP) — U.S. hiring jumped last month, and many more people were encouraged to look for work, showing that the economy remains robust despite threats from China's viral outbreak, an ongoing trade war and struggles at Boeing. The strong...

 

Trump's economy: Solid and steady but vulnerable to threats

WASHINGTON (AP) — A portrait of a robust U.S. economy is sure to take center stage Tuesday night when President Donald Trump gives his third State of the Union address. It is an economy that has proved solid and durable yet hasn't fulfilled many...

 

Fed chair sees China virus as possible risk to world economy

WASHINGTON (AP) — Just as the outlook for the global economy had been brightening in recent months, a new threat has suddenly emerged in the form of the viral outbreak in China. That was the cautionary message that Chairman Jerome Powell delivered...

 

US firms keep hiring, easing worries of weakening economy

WASHINGTON (AP) — American businesses have complained for years that they can't find the workers they need to fill available jobs. November's robust hiring gain suggests that at least some have found a way to do so. With the unemployment rate now...

 

An emerging priority for Powell Fed: The plight of the poor

WASHINGTON (AP) — Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate...

 

Powell: Solid economy but tame inflation allows low rates

Federal Reserve Chairman Jerome Powell is sketching an optimistic view of the economy but signaling that continued low inflation means higher interest rates won't likely be necessary anytime soon. Powell says that even with unemployment near a 50-yea...

 

Trump pushes back on reports US will remove China tariffs

WASHINGTON (AP) — President Donald Trump on Friday dismissed a Chinese official's assertion that his administration has agreed to roll back some of the higher tariffs it's imposed on Chinese goods. The Chinese official said Thursday that the two si...

 

US adds modest 136,000 jobs, lowering unemployment to 3.5%

WASHINGTON (AP) — U.S. employers added a modest 136,000 jobs in September, enough to help lower the unemployment rate to a new five-decade low of 3.5%. The figures show that hiring has slowed this year as the U.S.-China trade war has intensified,...

 

Modest hiring enough to fuel sluggish but durable US economy

WASHINGTON (AP) — Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy's record-long expansion in the coming months. Yet with the economy still under threat from a weak...

 

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