Mexico celebrates start of new trade accord with US, Canada
Mexico celebrated the implementation of a new free trade agreement with Canada and the United States that it hopes will lead to more investment in its struggling economy.
Economy
House Democrats pass $1.5 trillion ‘green’ infrastructure bill filled with climate policies
The House passed a $1.5 trillion “green” infrastructure package on a partisan basis Wednesday by a 233-188 vote, as Democrats signaled their commitment to combating climate change through multiple avenues, a key issue for their voting base.
Almost half the US population was unemployed in May 2020
Almost half the US population was jobless last month, CNBC reported Monday. According to the Bureau of Labor data for May 2020, the number of employed people as a percentage of the US adult population was 52.8% last month, meaning 47.2% of Americans had no job. The figures for June will be published on Thursday this week.
U.S. GDP fell at a 5% rate in the first quarter, and the worse is likely on the way
The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic.
IMF Downgrades Global Economic Forecast
As governments around the world battle the economic fallout of the COVID-19 pandemic, the International Monetary Fund (IMF) has published a further grim forecast, predicting a 4.9% contraction in global GDP (gross domestic product) for 2020, a lower figure than the 3% forecast in April, CNBC reports. The IMF also downgraded its GDP prediction for 2021, lowering it to 5.4% from the 5.8% forecast in April.
US-Russia Unfreeze Nuclear Talks Amid Cold War Tensions
The United States and Russia have restarted negotiations about their nuclear arsenals following a break of more than a year amid the worst military tensions between the two atomic superpowers since the Cold War. But the talks in Vienna, Austria, began Monday amid uncertainty over whether U.S. President Donald Trump wants to secure a nuclear arms control treaty in the last four months before presidential elections.
Frustration and Hope as World Deals with Virus and Visitors
Hope but also frustration and uncertainty marked the world’s efforts Sunday to deal with the ongoing coronavirus pandemic.
Israel’s ‘Corona Cabinet’ Approves New Restrictions, as Economy Continues to Take Hit
The Israeli government’s ad hoc “Corona Cabinet” approved on Monday several new measures to deal with the ongoing COVID-19 pandemic.
Trump is reportedly considering a new $1 trillion infrastructure stimulus plan to boost the US economy
US President Donald Trump is considering an infrastructure plan worth $1 trillion to help revive the economy from the fallout of coronavirus and push ahead with his longstanding goal of spending big on US infrastructure, Bloomberg reported Tuesday.
Twitter ‘Deletes’ China’s Communists, Zoom ‘Deletes’ Dissidents
U.S. social media giants have reacted differently to China’s mounting censoring pressure, Worthy News monitored Friday.
U.S. Stocks Plunge Over Coronavirus and Economic Concerns
U.S. President Donald Trump pledged a strong, swift economic recovery and coronavirus vaccine after the U.S. market had its worst finish in three months.
Fed vows to support U.S. economy’s ‘long road’ to recovery after dire 2020
The U.S. Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5% in 2020 and the unemployment rate to be 9.3% at year’s end.
Pandemic driving broadest economic collapse in 150 years, World Bank says
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.
Economy entered recession in February, economists say
The National Bureau of Economic Research announced Monday that a recession began in February of this year, marking the end of the longest period of economic growth in history.
Most Americans Say Things ‘Out Out of Control’ Poll Claims
Two significant media companies claim their survey suggests that eight out of 10 American voters believe things in the United States “are out of control.” The NBC News/Wall Street Journal opinion poll, released Sunday, came amid sometimes violent protests over perceived racist police abuse and concerns over the coronavirus pandemic.
President Trump: ‘American Comeback’ As Jobless Rate Drops To 13.3%
The U.S. stock market surged to near-record highs after unemployment dropped unexpectedly in May to 13.3 percent prompting President Donald Trump to cheer as he seeks re-election this year.
Unemployment rate dropped to 13.3% as economy gained 2.5M jobs in May
The economy gained 2.5 million jobs in May, lowering the unemployment rate to 13.3%, the Labor Department said Friday.
Trump Cancels Republican Convention In North Carolina, Seeks New State
U.S. President Donald Trump says he wants a different state to host the Republican National Convention because host North Carolina refuses to guarantee the event can take place in Charlotte without restrictions due to ongoing concerns over the coronavirus outbreak.
U.S. economy shrank at 5% annual rate in the first quarter
The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter.
U.S.Stock Surge Despite Virus Pandemic
There were two realities in the United States Tuesday with stocks on Wall Street surging to their highest levels in two months while Main Street suffered due to the coronavirus pandemic.