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The US economy shrank at a record-breaking 32.9% rate in the second quarter of this year as Americans sheltered at home during the coronavirus pandemic and slashed personal spending, the Commerce Department said Thursday.
Construction of U.S. homes jumped 17.3% in June as some states opened back up, but still lags behind last year’s pace after this spring’s massive slowdown in building activity due to the coronavirus outbreak.
The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.
Governor Roy Cooper has vetoed a bill that would have temporarily allowed fitness clubs, gyms, and bars to reopen.
Wilmington City Council learned more about a proposal to close streets in Downtown Wilmington to accommodate outdoor dining while restrictions are in place due to the coronavirus pandemic.
Unemployment around the U.S. declined slightly in May, falling to 13.3% as the economy showed signs of recovering from the impact of nationwide shutdowns caused by the coronavirus.
It's a whole new world for business owners as they face an uncertain future in the face of COVID-19.
North Carolina legislators want to make available another $300 million in federal COVID-19 relief funds to Gov. Roy Cooper’s administration to cover additional government expenses incurred due to the virus.
The epic economic swoon that has followed the coronavirus pandemic could haunt the U.S. for as long as a decade, with the Congressional Budget Office pegging the cost at nearly $16 trillion by 2029.