Wednesday, May 12, 2021

Tag: Recession

Will Gen Z ever recover from the COVID-19 recession?

US unemployment for workers aged 16 to 24 hit 24.4 percent this spring, according to a report by the Economic Policy Institute [File: Lisa Maree Wiliams/Bloomberg]

November 10 (Al Jazeera) - The global economy has been brought to its knees by COVID-19 and one generation may never fully bounce back from the beating: Generation Z. Born between 1997 and 2012, some Gen Zers – teens and college students – are entering the labour market for the first time during an unprecedented economic crisis caused by a ...

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Virus-hit Philippine economy plunges into recession

© Lisa Marie David The Philippine economy has been devastated by virus lockdowns

August 6 (AFP) - The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdowns that have wrecked businesses and thrown millions out of work. Gross domestic product shrank 16.5 percent on-year in the second quarter, the Philippine Statistics Authority said, when the country endured one of the world's ...

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It’s official: U.S. economy entered recession in February

FILE PHOTO: A pedestrian walks on an empty street amid the coronavirus disease (COVID-19) outbreak, in Boston, Massachusetts, U.S., May 12, 2020. REUTERS/Brian Snyder/File Photo

June 9 (Reuters) - The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday. The Business Cycle Dating Committee of the National Bureau of Economic Research said in a statement its ...

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