140,000 jobs have been lost in the US last month for the first time since April, as the coronavirus pandemic tightens its grip on consumers and businesses.
A study by the World Bank shows Afro-Uruguayans are victims of racism, are being excluded and earn much less than the rest of the country.
Suicides have increased in Iraq since the beginning of the year, as many young people suffer social and economic problems fuelled by the pandemic.
Turkey’s exports increased by up to 27 per cent in the June-August period compared with March-April, Turkey’s Treasury and Finance Minister Berat Albayrak says at launch of three-year economic plan.
Germany has cautiously reopened and the economy has started bouncing back but economists say it is far from the pre-pandemic level.
Bank says coronavirus pandemic inflicted a "swift and massive shock" causing broadest collapse of global economy since 1870.
Japan's economy has shrunk at an annual rate of 2.2 percent, better than the early estimations due to the hit of coronavirus pandemic and the ongoing trade conflict between US and China, country's most important trading partners.
Surveys have also shown consumer confidence, manufacturing and services industries stabilising albeit at low levels in May, indicating the downturn triggered by Covid-19 pandemic was bottoming.
The national jobless rate was 14.7 percent in April, the highest since the Great Depression, and many economists expect it will near 20 percent in May, a sign companies are still slashing jobs.
Data published on Tuesday showed the number of people claiming unemployment benefits rose by 856,500 –– the biggest ever month-on-month jump –– to 2.1 million, a 69 percent increase from March.
The wave of layoffs may not subside until Congress can agree on providing rescue aid for financially desperate state and local governments as well as further help for households.
The unemployment rate is forecast to reach 16 percent, the highest rate since the Great Depression, and economists estimate that 21 million jobs were lost last month.
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