Wednesday , February 1 2023
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Economy

U.S. jobless rate skyrockets

The U.S. unemployment rate rose to 14.7 percent in April, the highest rate since the Great Depression. In all, 20.5 million jobs went away last month – the worst job-loss month on record – as the COVID-19 pandemic continued to take a sledge hammer to the economy, according to data …

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IE manufacturing continues to sink

The Inland Empire’s manufacturing sector took another major hit in April, as the full impact of COVID-19 continued to be felt. The purchasing managers index for the fourth month of the year was 41.8, down from 43.3 in March and well below the 50 benchmark that determines if manufacturing is …

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State loses 99,000-plus jobs

Large Job Gains Doesn’t Stop Unemployment Jump

California’s unemployment rate rose to 5.3 percent in March, a 1.4 percent month-over-month increase that marked the end of 120 consecutive months of job gains dating to the end of the Great Recession. As bad as those numbers are, they may tell only half the story of how much damage …

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Coronavirus levels Inland Empire manufacturing

The first numbers are in, and they aren’t pleasant to look at. March was the worst month for local manufacturers in more than four years. We now know how much damage the Coronavirus can do to a major sector of the Inland Empire economy. Unlike the most recent housing and …

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Report: Coronavirus will damage the U.S. economy

But maybe not as bad as some have predicted – perhaps not even a recession – says the UC Riverside study. The Coronavirus pandemic will deliver a “serious hit” to the national and U.S economies, an its longterm impact is impossible to predict now, according to the UC Riverside School …

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U.S. economy sheds 701,000 jobs

Large Job Gains Doesn’t Stop Unemployment Jump

The U.S. economy lost 701,000 jobs in March, it’s worst month since 2009, as the full-impact of the Coronavirus pandemic began to be felt. This marked the first time since September 2010 that the country posted a job loss in one month, the U.S. Bureau of Labor Statistics reported Friday. …

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