The Department of Labor in the U.S. reported more than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week.
On Thursday, the U.S reported that the trade deficit tumbled in February to the lowest level since 2016 as exports fell, and imports fell more. The politically sensitive gap in the trade of goods with China narrowed when the world’s No. 2 economy was locked down to combat the Coronavirus outbreak.
Nearly 900,000 workers have lost their jobs in Spain, authorities said Thursday. The job loss is vastly greater than in January 2009, when 350,000 workers lost their jobs during the global financial crisis.
The European Commission has designed a new program to raise up to 100 billion euros in loans to address unemployment.
The airline, South Korea’s largest, recently put all foreign pilots on unpaid leave for three months and may soon ask its entire workforce of 20,000 to do the same if conditions deteriorate.
The pandemic is expected to wipe out $23 billion in passenger revenue from airlines across the Middle East and Africa this year, according to an assessment Thursday by the aviation industry’s largest trade association.
