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Fed says 15 million Americans will remain jobless by year-end
Central bank expects unemployment to remain above by 9% by year-end and for joblessness to remain elevated into 2022.
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Central bank expects unemployment to remain above by 9% by year-end and for joblessness to remain elevated into 2022.
Although the job market has likely touched bottom, how fast it breaks for the surface is anyone's guess.
Some fraudsters are targeting people with false job offer and phony assistance filing for jobless aid.
The future is uncertain for many who recently graduated from college, trade schools or vocational programs. The coronavirus pandemic has led to an economic downturn, and many companies are now on a hiring freeze, and even rescinding job offers. CBS News campaign reporters Cara Korte and Zak Hudak spoke with some of these students whose lives are now in limbo.
The U.S. economy added 2.5 million jobs in May, stunning experts who anticipated losses on the scale of the Great Depression. Jill Schlesinger joins "CBS This Morning: Saturday" to discuss the new 13.3% unemployment rate and the outlook for Americans and the country as it recovers from the coronavirus pandemic.
President Trump appeared energized at a Friday press conference where he touted the latest jobs report, which says the U.S. economy added 2.5 million jobs last month. This comes at the end of a week of harsh criticism from both sides of the aisle for the president, over his response to protests and racial issues roiling the country. Ben Tracy reports on the latest from Mr. Trump at the White House.
Many states, including Florida, are continuing to re-open businesses despite reports of increasing coronavirus infections. Manuel Bojorquez reports.
The good news on the unemployment rate wasn't felt by all Americans. For black workers, the rate continued to rise in May. Mark Strassmann reports.
President Trump is hailing a surprising drop in the unemployment rate. Paula Reid reports.
Trump hails drop in unemployment numbers; 30 million Americans still out of work; Moments of grace and unity during George Floyd protests.
"Hopefully, George is looking down right now and saying this is a great thing that's happening for our country," President Trump said Friday.
President Trump said Friday that May's jobs report is the first step in the country's comeback from the coronavirus pandemic; and that it will help race relations. CBS News chief Washington correspondent Major Garrett, CBSN political contributor and Democratic strategist Joel Payne and Republican strategist Joseph Pinion join CBSN to discuss.
Blacks and Latinos occupy many of the frontline service-sector jobs that saw higher unemployment in recent weeks.
The "biggest payroll surprise in history" is fueling investor optimism that the economy is rebounding.
President Trump declared victory over improving unemployment numbers and a week of protests, saying the George Floyd is looking down on the progress.
In a surprising turn, the economy added 2.5 million jobs in May, dropping the new unemployment rate to 13.3%. CBS News Business Analyst Jill Schlesinger joins "CBS This Morning" to discuss the reasons behind the unexpected positive data.
Employers added 2.5 million jobs in May, reversing April's sharp drop and showing hope for a swifter recovery.
Lower-income Americans are more likely to feel hardship, according to latest CBS News poll.
Applications for jobless aid have been dropping steadily, indicating that the worst of the layoffs may have passed.
The Department of Labor says unemployment claims hit 1.9 million last week, but that's down 249,000 since the prior week. IRC Wealth CEO David Ragland joins CBSN to discuss the significance of those numbers, and why the stock market continues to stay afloat.
A new CBS News poll finds two-thirds of Americans say the U.S. is on the wrong track, as the nation deals with three major crises: the coronavirus pandemic, record unemployment, and protests over police brutality. Karen Tumulty, a Washington Post columnist covering national politics, joined CBSN to discuss what this all means for the 2020 presidential election.
Payroll firm ADP reported 2.8 million jobs lost in May, fewer than many thought, bolstering hopes of a layoffs peak.
Some 42 million workers have lost their jobs since March — twice the number lost during the entire Great Recession.
Another 2.1 million Americans filed for unemployment benefits in the past week. Many Americans are relying on those benefits, but some are still waiting for their first unemployment check. Mark Strassmann reports.
Millions of service workers, who rely on tips to make a living, are finding that their base pay is too low to qualify for unemployment benefits amid the pandemic. CBS News MoneyWatch producer Irina Ivanova joins CBSN's Elaine Quijano to discuss her reporting.
Banks, airlines and other Microsoft clients grappled with global outages due to a CrowdStrike software issue.
Researchers have published more than 24,000 papers on long COVID — a constellation of health effects such as shortness of breath, fatigue, brain fog and heart failure that last months or years after the initial infection.
Biden campaign manager Jen O'Malley Dillon denied reports the president is considering leaving 2024 presidential race against Trump.
The Wall Street Journal calls reporter Evan Gershkovich's conviction on spying charges in Russia "bogus," but it may clear the way for a prisoner swap.
The Microsoft outage on Friday caused many PCs to display an error message nicknamed the "blue screen of death."
Although Donald Trump vows to bring U.S. prices down "very quickly," some economists say his policies could rekindle inflation. Here's what to know.
The judge ruled that two social media posts targeting Meloni by journalist Giulia Cortese amounted to "body shaming."
The outages Friday were connected to "a defect found in a single content update for Windows hosts," CrowdStrike CEO George Kurtz said in a statement.
The full moon, also known as the Thunder Moon, will last three days, peaking on Sunday morning.
A 72-year-old man killed a grizzly bear in Flathead County, Montana after it attacked him while he was out picking berries.
A Marine accused of using a Nazi salute during the U.S. Capitol insurrection has been sentenced to almost five years in prison for assaulting police officers who were guarding the building.
Investors are sizing up which industries could benefit under a second Trump administration. But Wall Street preach caution, saying it's easy to get burned.
Starbuck's mobile order ahead and pay features are down. Here's what the company is doing to restore them.
Mr. Biden indicated earlier Friday he could be back on the campaign trail within days.
Investors are sizing up which industries could benefit under a second Trump administration. But Wall Street preach caution, saying it's easy to get burned.
Starbuck's mobile order ahead and pay features are down. Here's what the company is doing to restore them.
The Microsoft outage on Friday caused many PCs to display an error message nicknamed the "blue screen of death."
Experts say the increasing demand for energy in the U.S. is forecast to hit a record high this year.
The outages Friday were connected to "a defect found in a single content update for Windows hosts," CrowdStrike CEO George Kurtz said in a statement.
A Marine accused of using a Nazi salute during the U.S. Capitol insurrection has been sentenced to almost five years in prison for assaulting police officers who were guarding the building.
Mr. Biden indicated earlier Friday he could be back on the campaign trail within days.
Biden campaign manager Jen O'Malley Dillon denied reports the president is considering leaving 2024 presidential race against Trump.
The House Oversight Committee refused to push back the date of U.S. Secret Service Director Kimberly Cheatle's testimony.
Experts say not enough is yet known about the parents of gunman Thomas Matthew Crooks, who have been cooperating with investigators.
Researchers have published more than 24,000 papers on long COVID — a constellation of health effects such as shortness of breath, fatigue, brain fog and heart failure that last months or years after the initial infection.
Mr. Biden indicated earlier Friday he could be back on the campaign trail within days.
"Great scans, everything was clear. Cancer-free,"19-year-old Isabella Strahan said after a battle with medulloblastoma, a malignant brain tumor.
Republicans were once the party of Obamacare repeal and abortion opposition. They've said little about either issue in Milwaukee.
The now-recalled Diamond Shruumz gummies had been sold legally, but testing found they contained an illegal controlled substance.
What to know as banks, airlines and other Microsoft clients grapple with global outages due to a CrowdStrike software issue.
The judge ruled that two social media posts targeting Meloni by journalist Giulia Cortese amounted to "body shaming."
The boat, carrying more than 80 people, was en route to the Turks and Caicos Islands, officials said.
The full moon, also known as the Thunder Moon, will last three days, peaking on Sunday morning.
Gymnast Shoko Miyata, 19, left Japan's training camp in Monaco after an investigation found she allegedly violated the Japan Gymnastics Association's rules on drinking alcohol and smoking.
After the success of "Heat Waves," Dave Bayley opens up about his struggles and the creative process behind Glass Animals' new album, "I Love You So F***ing Much."
Glass Animals, famed for their hit "Heat Waves," recently released their latest album. Anthony Mason catches up with the band in London, revisiting the street where their success story started.
Sarah Gelman, editorial director for Amazon Books, joins "CBS Mornings" with must-read book recommendations for the summer.
Shannen Doherty had accused Kurt Iswarienko of prolonging the divorce so he didn't have to pay spousal support.
Bob Newhart, a groundbreaking standup who became a sitcom star, died Thursday at 94. Starting in the 1960s, he was hugely popular, first with his best-selling comedy albums, then on the CBS comedies that bore his name. His work influenced generations of comedians.
What to know as banks, airlines and other Microsoft clients grapple with global outages due to a CrowdStrike software issue.
A global tech outage impacted millions on Friday after a faulty software update was sent from cybersecurity firm CrowdStrike to Microsoft clients. CrowdStrike provides antivirus software to Microsoft for its Windows devices. Dan Ives, managing director and senior equity analyst for Wedbush Securities, joined CBS News to discuss the incident.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
The Microsoft outage on Friday caused many PCs to display an error message nicknamed the "blue screen of death."
The outages Friday were connected to "a defect found in a single content update for Windows hosts," CrowdStrike CEO George Kurtz said in a statement.
Experts say the surging demand for energy in the U.S. is forecast to hit record-highs both this year and next year, straining the country's aging power grid and creating more planet-warming emissions. Part of the demand is from a growing number of data centers across the nation and the rise of artificial intelligence.
The melting of glaciers and polar ice sheets causes water to move closer to the equator, fattening the planet and slowing its rotation, according to a recent study.
Spade-toothed whales are the world's rarest, with no live sightings ever recorded. Until, perhaps, now. One may have washed up onto a New Zealand beach.
Symptoms among the new bird flu cases included "fever, chills, coughing and sore throat/runny nose," alongside pink eye and eye tearing, a CDC spokesperson confirmed Monday.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
"It was just a horrific scene that even seasoned officers told me it is the worst thing they've ever seen," the sheriff said.
The drug ring would appeal to a witchdoctor "to receive his blessing and for the success of its cocaine transportation," police said.
John Carter was charged with two counts of murder in relation to the death of his fiancée Katelyn Markham.
Weisselberg was sentenced in April to five months in Rikers Island, in line with a plea agreement over his alleged perjury in a 2023 civil fraud case.
A man who authorities have described as a dangerous pedophile was arrested in Georgia, nearly 30 years after he fled an Oregon prison.
NASA says the Deorbit Vehicle will drive the lab to a controlled re-entry and breakup in 2030 to close out three decades of operation.
Rain already falls on Venus, but it took more than 14 minutes for Missy Elliott's The Rain (Supa Dupa Fly)" to reach the planet.
It has been two years since NASA's James Webb telescope gave us a stunning first look at the depth of our universe. To commemorate the achievement, NASA has released new images showing two distant galaxies interacting with each other. Jane Rigby, astrophysicist and a senior project scientist for the Webb telescope at NASA, joins CBS News to discuss.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
SpaceX's Falcon 9 rocket suffered a catastrophic engine failure as it launched a batch of Starlink satellites into orbit Thursday night, the first time in nearly a decade the rocket has failed. CBS News space consultant Bill Harwood has more on that and the latest images from the James Webb Space Telescope.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
Former President Donald Trump was joined onstage by his wife Melania, his children and some of his grandchildren at the end of his speech at the Republican National Convention on Thursday. Red, white, blue and gold balloons fell from the ceiling as the Trump family stood before the crowd in Milwaukee at the conclusion of the event.
Saturday marks 55 years since Neil Armstrong first stepped foot on the moon as part of the Apollo 11 mission. Derrick Pitts, chief astronomer at the Franklin Institute, joined CBS News to discuss the event's significance in history and space exploration.
New details are coming out about the assassination attempt against former President Donald Trump and the moments after the shooting when Trump was treated at a local Pennsylvania hospital. CBS News correspondent Charlie De Mar spoke with an official at that hospital and has more.
Video shows dozens of members of the reclusive Mashco Piro tribe searching for food on a beach in the Peruvian Amazon. One advocacy group for Indigenous peoples says this is evidence that logging concessions are "dangerously close" to the tribe's territory, raising fears of conflict between logging workers and tribal members as well as potentially exposing dangerous diseases to the natives.
A global tech outage impacted millions on Friday after a faulty software update was sent from cybersecurity firm CrowdStrike to Microsoft clients. CrowdStrike provides antivirus software to Microsoft for its Windows devices. Dan Ives, managing director and senior equity analyst for Wedbush Securities, joined CBS News to discuss the incident.