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Biden's test: Engineering economic boom in a partisan divide

BALTIMORE (AP) — When Joe Biden entered the White House as vice president, the economy was cratering. Job losses were mounting. Stocks were crashing. Millions of Americans were in the early stages of ...

Biden's aid plan could revamp economy, prompt GOP resistance

BALTIMORE (AP) — The $1.9 trillion rescue plan unveiled by President-elect Joe Biden offers the chance to sculpt the U.S. economy toward the Democrats’ liking: a $15 minimum wage, aid to poor families...

U.S. economy plunged an annualized 31.7% in second-quarter

BALTIMORE (AP) — The U.S. economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government est...

AP FACT CHECK: Trump payroll tax cut is Social Security risk

BALTIMORE (AP) — President Donald Trump’s proposed payroll tax cut is a threat to Social Security no matter how he casts it. During a news conference Wednesday, he insisted he could ...

US sales of existing homes jump 20% after a 3-month slump

BALTIMORE (AP) — Americans stepped up their home purchases in June by a robust 20.7% after the pandemic had caused sales to crater in the prior three months. But the housing market could struggle to r...

US retail sales jump 7.5% in June, but economy still ails

BALTIMORE (AP) — U.S. retail sales climbed a solid 7.5% in June, a sign that the economy was healing right before infections from the coronavirus spiked again and dragged down hopes for a steady recov...

Record low US mortgage rates for the third consecutive week

BALTIMORE (AP) — Rates on 30-year mortgages have fallen to record lows for the third consecutive week as inflation remains muted in a weakened economy, even in the face of persistent demand from homeb...

US retail sales likely recovered partly from record plunge

BALTIMORE (AP) — U.S. retail sales likely recovered somewhat last month as the economy increasingly reopened from shutdowns caused by the coronavirus and more shoppers felt confident enough to spend. ...

African Americans point to racial biases in economics

BALTIMORE (AP) — The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish suffi...

Pending home sales plunged 21.8% in April on a monthly basis

BALTIMORE (AP) — April had a record collapse in Americans signing contracts to buy homes, a reflection of the broader shutdown of economic activity in response to the coronavirus outbreak. ...

US new-home sales post slight gain in April

BALTIMORE (AP) — U.S. new home sales ticked up 0.6% in April, a surprising gain amid the coronavirus outbreak that hints at the relative health of potential buyers. The Commerce Depa...

Economist's forecast: Slumping home sales but steady prices

The coronavirus has depressed U.S. home sales, just as it has nearly every economic sector. Perhaps surprisingly, though, prices have remained fairly sturdy. Still, prospects for the housing industry ...

US retail sales likely tumbled in April as virus took hold

BALTIMORE (AP) — U.S. retail sales likely plummeted last month as the coronavirus paralyzed the economy, kept away millions of shoppers and threatened the future of stores across the country. ...

Fed: Financial struggles greater for workers losing jobs

BALTIMORE (AP) — Just half of Americans who suffered a job loss or reduced income because of the coronavirus feel they’re doing all right financially, according to a new survey released Thursday by th...

10 takeaways from the worst jobs report in US history

BALTIMORE (AP) — Brutal. Horrific. Tragic. Choose your description. The April jobs report showed, in harrowing detail, just how terribly the coronavirus outbreak has pummeled the U.S...