Photo of Jerome Powell

Powell: A Stronger Job Market Is Key to Combating Inequality

WASHINGTON — Federal Reserve Chairman Jerome Powell stressed Wednesday that the federal government's role in strengthening the U.S. market in the face of a recession is vital in preventing a worsening of economic inequality. Powell said the the Fed would co...
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BP to Cut 10,000 Jobs Worldwide Amid Virus Pandemic

LONDON — Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry. “We are spending much, much more than we make – I a...
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US Unemployment Drops Unexpectedly to a Still-High 13.3%

WASHINGTON — The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers faster than economists h...
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10 Takeaways From the Worst Jobs Report in US History

BALTIMORE — Brutal. Horrific. Tragic. Choose your description. The April jobs report showed, in harrowing detail, just how terribly the coronavirus outbreak has pummeled the U.S. economy. Most obviously, there’s the 14.7% unemployment rate, the highest since ...