Another 5.2 million Americans sought unemployment benefits last week, lifting total filings for claims over the past month above an astounding 20 million, which would underscore the deepening economic slump caused by the novel coronavirus outbreak. The United States Labor Department on Thursday said 5.245 million new unemployment claims were filed last week, down from…

The flood of negative economic indicators caused by COVID-19 is set to reach epic proportions in the second quarter, with the world’s major economies poised to see a decline unlike any before. “I don’t think there’s any question that the second quarter of this year is going to show the worst numbers for all major economies in recorded history,” said…

Two weeks after the return of the coronavirus-stricken Zaandam cruise ship, a “small number” of its Canadian passengers remain in hospital in Florida, according to Global Affairs Canada. It declined to provide a precise number.  The passengers include Geoffrey Vaughan’s father-in-law, who is alone in a hospital just outside Fort Lauderdale, battling COVID-19. “My father-in-law has had some rough…

This story is part of The COVID Economy, a CBC News series looking at how the uncertainty of the coronavirus pandemic is affecting jobs, manufacturing and business in regions across Canada. It was in late March that a prominent national trade association released a bleak report forecasting the worst year for Canadian manufacturers since the Great Recession…

Cases of COVID-19 have been confirmed at a third Alberta meat-packing plant, according to the union that represents those workers. United Food and Commercial Workers Canada Union local 401 president Thomas Hesse said three cases of COVID-19 have been confirmed at the JBS plant in Brooks, Alta.  At the Cargill plant in High River, there…

The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system. The necessary efforts to…