Economy

US gains 2.5 million jobs in May, unemployment falls despite pandemic

The US economy regained 2.5 million jobs in May as coronavirus pandemic shutdowns began to ease, sending the unemployment rate falling to 13.3 percent, the Labor Department reported Friday. The result defied even the most optimistic expectations among economists, who had been expecting job losses of more than eight million and a jobless rate of […]

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COVID-19: German economy plunges into recession

The German economy plunged into a recession after suffering its steepest quarterly contraction since the 2009 financial crisis as shops and factories were shut down in mid-March to fight the spread of the coronavirus, preliminary data showed on Friday. The 2.2 per cent first-quarter contraction was a foretaste of worse to come. Economists expect a […]

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