President Donald Trump invited some of the top leaders in business and industry to the White House Wednesday for a discussion on how to safely begin reopening parts of the economy that have been devastated by stay-home orders in response to COVID-19.
The US marriage rate is at its lowest since the federal government began collecting data in 1867, the National Center for Health Statistics (NCHS) reported on Wednesday. Lead author of the report Sally Curtin told the Wall Street Journal: “Millennials are in peak marriage years, their 20s and 30s, and it’s still dropping. This is historic.”
Urban experts have warned that over 100 million people in cities worldwide may suffer extreme poverty as a result of losing their jobs and income to the COVID-19 pandemic, Reuters reports. In addressing the issue, the World Bank and other experts have called for investment in slum areas around the world and for mapping strategies to identify vulnerable communities.
America’s top health official in the fight against the coronavirus pandemic dampened hopes of a full reopening of the U.S. economy as he expects many more cases of the virus disease COVID-19.
A principal United Nations agency warns that nearly half of the world’s working population may lose jobs and incomes as the coronavirus pandemic continues to devastate lives and economies. The International Labour Organization (ILO) said some 1.6 billion people are in “immediate danger of having their livelihoods destroyed” by the economic impact of the virus outbreak and related measures.
The U.S. economy shrank at 4.8 percent in the first quarter of this year, the most significant decline since the Great Recession of the late 2000s, as the nation shivers of the coronavirus pandemic measures. With much of America in lockdown, figures released by the Commerce Department showed that the United States entered a recession that will end the longest expansion on record.
Nearly nine out of every 10 Americans fear the imminent collapse of the U.S. economy during the coronavirus pandemic, according to a new poll. The Axios-Ipsos CoronavirusIndex also showed that Americans fear the possible financial ruin of their nation more than the risk of reopening communities too early amid the virus outbreak.
The US Congressional Budget Office (CBO) predicted on Friday that, as a result of the COVID-19 pandemic, America’s deficit will reach $3.7 trillion this year, Politico reports. The CBO also said that unemployment will rise to 16 percent in 2020, before going to down to 9.5 percent by the end of 2021.
After the U.S. unveiled similar measures, the European Union has approved a $580 billion aid package to help limit the devastating economic consequences of coronavirus pandemic lockdowns in member states. However, beyond the immediate aid, the dispute remains over the structure – and funding – of a long-term recovery plan. It emerged this weekend that the European Commission, the EU’s executive, has now been tasked to make proposals by May 6, when another video conference will be held.
Protests against lengthy coronavirus-related lockdowns have spread in Europe where most people have died in the global pandemic, devastating economies and wracking lives of millions. In Germany, the continent’s largest economy, police detained dozens of protesters over the weekend for violating the strict lockdown measures they were demonstrating against.
Poland’s health minister risked the anger of other government officials by suggesting to delay next month’s presidential elections until 2022 due to the coronavirus pandemic. Minister Lukasz Szumowski, who is also a cardiologist, said Friday that postponing the vote ‘the only safe option’ as the virus disease COVID-19 spreads across the nation.
U.S. President Donald Trump signed a $484 billion bill on Friday to aid employers and hospitals under pressure from the coronavirus pandemic as the related death toll rose to more than 50,000 Americans.
U.S. unemployment is nearing levels of the Great Depression of the 1930s, with one in 6 Americans of working age out of a job as the coronavirus pandemic essentially shut down the economy. About 4.4 million Americans filed for unemployment insurance last week alone, reported the U.S. Labor Department on Thursday.
Sales of new U.S. single-family homes dropped by the most in more than 6-1/2 years in March and further declines are likely as the novel coronavirus outbreak batters the economy and throws millions of Americans out of work.
A United Nations agency has warned that the world risks widespread famines ‘of Biblical proportions’ due to the coronavirus pandemic.
President Trump announced on Monday night that, due to the COVID-19 pandemic, he will be ordering a temporary suspension on immigration to the US. In a post on Twitter, the President said: ‘In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States!’
Several European Union member states are slowly reopening their doors in lockdowns that have impacted millions of people, many of them children. The lockdowns were introduced by authorities citing concerns about the spread of the new coronavirus disease COVID-19.
Germany’s health minister says the month-long lockdown has brought the coronavirus outbreak in his country under control. Jens Spahn spoke while several other European Union nations struggled to contain the new virus disease COVID-19.
The chief of the European Union’s executive has made ‘a heartfelt apology’ to Italy for the block’s slow response in handling the coronavirus pandemic. Italy suffered more than 21,000 coronavirus-related deaths, the highest toll in Europe, officials say.
All signs are pointing to a global economic crisis of proportions not seen in decades in the face of the coronavirus pandemic crisis.