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People gather at the entrance for the New York State Department of Labor offices on March 20, which closed to the public due to the coronavirus outbreak in the Brooklyn borough of New York City.

The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing ...

Over 10 million Americans filed for unemployment in March. Macy's, Marriott, buzzy startups, and more contributed to that record-breaking number.
Men wearing masks walk at nearly empty Gran Via Street during the state of emergency by the government against the coronavirus outbreak in Madrid, Spain.

Spain is moving to permanently establish universal basic income in the wake of the coronavirus pandemic

Spain would be the first European country to enact a basic income and provide monthly cash payments to its citizens.
Federal Reserve Chair Janet Yellen holds a news conference following day two of the Federal Open Market Committee (FOMC) meeting in Washington, U.S., December 14, 2016.

Janet Yellen warns coronavirus-hit US economy could contract 30% next quarter, says unemployment might already be 13%

"My hope is that we get back to business as usual as quickly as possible," said former Federal Reserve Chair Janet Yellen.

A whopping 35 million Americans could lose their health insurance due to massive layoffs from coronavirus, new study says

The figure highlights the unprecedented ripple effect of the coronavirus across the US economy and health care.
Mervin Sealy from Hickory, North Carolina, takes part in a protest rally outside the Capitol Building in Washington, October 5, 2011. Demonstrators were demanding that Congress create jobs, not make budget cuts during the protest.

US annualized gross domestic product to decline by 10-40% in 2nd quarter, SocGen says

Current US market turmoil is expected to trigger the "deepest quarterly pullback" in US post-war history, according to Societe Generale.
A man with a face mask crosses a street in Brooklyn, New York, United States on March 25, 2020.

Credit Suisse says the US economy will shrink 33.5% next quarter, the biggest drop in history

The bank also expects annual GDP to decline 5.3%, a bigger slump than was seen amid the global financial crisis in 2008.
FILE PHOTO: Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks in Las Vegas

Billionaire Bill Ackman says he’s ‘beginning to get optimistic’ about a coronavirus recovery, weeks after saying ‘hell is comi...

Ackman cited the one-day drop in New York-based virus deaths along with lockdowns taking place throughout the country for his newly positive outlook.

The legendary economist who predicted the housing crisis says the stock market is probably far from the bottom — in a video interview from his b...

Shilling expects this recession to run at least through the end of the year and says the stock market is probably far and away from the bottom.

Economists think coronavirus could push unemployment above Great Depression levels. Here’s why the pain won’t be as prolonged this time.

Issuing state and local aid before possible budget deficits can help avoid "a huge drag on the economy," an Economic Policy Institute director said.
Passengers of the Carnival Sensation, operated by Carnival Cruise Line.

Here’s why the depleted cruise line industry will be one of the biggest losers of the new $500 billion corporate bailout program

The largest cruise lines are incorporated outside the US. That means they won't be able to get a cut of the bailout money under Trump's stimulus law.