IMF chief Kristalina Georgieva has warned of a possible second wave of the coronavirus, urging countries around the world to keep their support programs in place. Georgieva said Thursday that the global economy still faces challenges even though there are some signs of recovery from the pandemic. Activity “has started to gradually strengthen… But we […]
UK Chancellor Rishi Sunak has said a popular program to support furloughed workers amid the Covid-19 outbreak cannot last indefinitely. The opposition warned that many people will lose their livelihoods unless it is extended. Under the program, which launched in April, employers can apply for grants to cover more than half of the wages of […]
The coronavirus economic freeze could cost 47 million jobs and send the unemployment rate past 32%, according to St. Louis Fed projections.
There are nearly 67 million Americans working in jobs that are at a high risk of layoffs, according to the analysis.
St. Louis Fed President James Bullard said last week that the initial estimates are grim but the plunge should be short-lived.
