Recessions and depressions

A man wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, June 9, 2020. Asian shares were mixed on Tuesday after the Nasdaq hit a record high. (AP Photo/Vincent Yu)
1010 WINS Newsroom
June 08, 2020 - 11:37 pm
TOKYO (AP) — Shares were mixed in Asia on Tuesday after the Nasdaq composite touched a fresh record as enthusiasm about reopening the economy pushed Wall Street still higher. Japan's benchmark Nikkei 225 lost 0.5% to 23,064.75 and South Korea's Kospi dipped 0.3% to 2,178.58. Hong Kong's Hang Seng...
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A woman walks into a closing Gordmans store, Thursday, May 28, 2020, in St. Charles, Mo. Stage Stores, which owns Gordmans, is closing all its stores and has filed for Chapter 11 bankruptcy. (AP Photo/Jeff Roberson)
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June 08, 2020 - 6:42 pm
WASHINGTON (AP) — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record. The economists said that employment, income and spending peaked in February and then fell sharply afterward as the...
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June 08, 2020 - 12:01 am
WASHINGTON (AP) — Business economists expect the United States to suffer its worst downturn this year in more than seven decades before growth resumes sometime next year. Overhanging that forecast, though, is the risk that a second wave of the coronavirus could threaten the economy once again. A...
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June 07, 2020 - 10:35 pm
TOKYO (AP) — Japan’s economy is still in recession but contracted at a smaller rate than initially estimated for the first quarter, according to government data released Monday. The difference was largely because private sector demand had not dropped as much as previously estimated. The Cabinet...
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In this June 1, 2020, photo President Donald Trump returns to the White House after visiting outside St. John's Church in Washington. (AP Photo/Patrick Semansky, File)
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June 06, 2020 - 7:56 am
CHICAGO (AP) — President Donald Trump has always been a big numbers guy. He’s proved adept at taking even the grimmest numbers and giving himself a pat on the back or relying on a creative use of data to make himself look good. But his declaration that an unexpected dip in the unemployment rate...
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President Donald Trump speaks as he signs the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House, Friday, June 5, 2020, in Washington. (AP Photo/Evan Vucci)
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June 05, 2020 - 9:47 pm
WASHINGTON (AP) — President Donald Trump effectively claimed victory over the economic crisis and COVID-19 on Friday as well as major progress against racial inequality, heartily embracing a better-than-expected jobs report in hopes of convincing a discouraged nation he deserves another four years...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, June 5, 2020. Asian markets are mostly lower after Wall Street rally takes a breather, as investors parse unemployment data. (AP Photo/Eugene Hoshiko)
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June 05, 2020 - 4:24 pm
For weeks, critics said Wall Street’s big rally made no sense when the economy seemed set for only more despair. On Friday, it got a bit of validation. The S&P 500 jumped another 2.6% after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst...
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Stylist Kayla Addink arranges items in her workspace Thursday, June 4, 2020, as she prepares for her first day back on the job at the West View Barber Shop when most of southwest Pennsylvania loosens COVID-19 restrictions on Friday in West View, Pa. (AP Photo/Keith Srakocic)
1010 WINS Newsroom
June 05, 2020 - 2:51 pm
WASHINGTON (AP) — U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted, triggering a rally Friday on Wall Street and giving President Donald Trump something to boast about amid his reelection bid. The...
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In this photo taken Thursday, June 4, 2020, Margaret Awino, 54, who lost her job after 15 years as a cleaner for a charity, prepares raw chicken that she bought to fry in the street to earn some income, in the Kibera slum, or informal settlement, of Nairobi, Kenya. Factories and stores are reopening and economies are reawakening but many jobs just aren't coming back - that's the harsh truth facing workers laid off because of the coronavirus around the U.S. and the world. (AP Photo/Khalil Senosi)
1010 WINS Newsroom
June 05, 2020 - 9:56 am
BANGKOK (AP) — Factories and stores are reopening, economies are reawakening – but many jobs just aren’t coming back. That’s the harsh truth facing workers laid off around the world, from restaurants in Thailand to car factories in France, whose livelihoods fell victim to a virus-driven recession...
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A woman walks past a boutique with a sale sign, Thursday, June 4, 2020, in Cleveland Heights, Ohio. The state says more than 34,000 Ohioans filed unemployment claims during the last week of May. That is the lowest figure since Ohio's stay-at-home orders depressed the economy and led to widespread layoffs. (AP Photo/Tony Dejak)
1010 WINS Newsroom
June 05, 2020 - 8:42 am
WASHINGTON (AP) — The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic. The May job gain suggests that businesses have quickly been...
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