Economy

Construction of U.S. homes jumped 17.3% in June as some states reopened, but the pace still lags last year after this spring’s massive slowdown in building activity due to the coronavirus outbreak. The Commerce Department reported Friday that new homes were started at a seasonally adjusted annual rate of 1,186,000 in June after a modest

The number of Americans who filed for unemployment benefits rose more than expected last week as the country continues to grapple with the economic impacts of the coronavirus pandemic.  Initial weekly jobless claims came in at 1.3 million for the week ending July 11, the Labor Department said Thursday. Economists polled by Dow Jones expected

An aerial view of a construction worker roofing an apartment home on May 27, 2020 in Uniondale, New York. Al Bello | Getty Images To find a V-shaped recovery from the economic wreckage of the coronavirus pandemic, look to the nation’s single-family homebuilders. Homebuilder sentiment jumped 14 points to 72 in July, according to the

A shopper walks with bags of purchases in New York. John Lamparski | SOPA Images | Getty Images Retail sales in June are expected to have gained 5.2% as the economy reopened, but sales could have trailed off towards  the end of the month as the virus outbreak worsened. According to Dow Jones, economists expect

People with colorful dresses selling and buying goods in a street market in Osogbo, Nigeria at dusk. Jorge Fernández | LightRocket via Getty Images Declining fertility rates will likely mean almost every country has shrinking populations by the end of the century, according to a new study, triggering “major shifts” in global economic power. A

Dallas Federal Reserve President Robert Kaplan said the U.S. economic growth will accelerate next year as the country rebounds from the coronavirus crisis. “In ’21, we will see an above-trend growth, and we will continue to grind down the unemployment rate,” Kaplan said on CNBC’s “Closing Bell” on Tuesday. “I still believe if we follow these

U.S. consumer prices increased by the most in nearly eight years in June as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy. The Labor Department said on Tuesday its consumer price index increased 0.6% last month, the biggest gain

A construction worker wearing a protective mask moves bricks to the back of a house as they resume construction on a home in Bloomfield Hills, Michigan, May 7, 2020. Emily Elconin | Bloomberg via Getty Images It is the perfect storm for the nation’s homebuilders. A sharp decline in the supply of existing homes for

Treasury Secretary Steve Mnuchin with national debt signage in background. Tom Williams | CQ Roll Call | Getty Images The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues. The Treasury Department reported

Servers wear masks as musicians play in the street for patrons of the 1803 restaurant in lower Manhattan during phase 3 of the coronavirus pandemic on July 09, 2020 in New York. Roy Rochlin | Getty Images Surging coronavirus cases are showing up in both a slowdown of current economic activity as well as future

Weekly jobless claims were lower than expected last week as workers slowly returned to their jobs in the wake of rising coronavirus cases. Claims for the week ended July 4 totaled 1.314 million, compared with the 1.39 million expected from economists surveyed by Dow Jones. The total marked a decrease of 99,000 from a week

Jaeden Milam makes clear acrylic safety shield dividers on a computer-controlled cutting machine at Screaming Images amid the spread of the coronavirus on May 18, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images U.S. producer prices unexpectedly fell in June as the economy battles depressed demand amid the Covid-19 pandemic. The Labor Department

Gerard Miller | CNBC Amid historically aggressive policy moves from the U.S. central bank and Congress, Dallas Federal Reserve President Robert Kaplan said the most important thing for the economy now is wearing protective face coverings. Masks in public, Kaplan said, are key to stopping the coronavirus spread, which is increasing in record numbers and