Economy

S. Korea's May exports dive 46% as virus wipes out global demand

SEOUL • South Korean exports and imports suffered a precipitous decline in the first 10 days of May, underlining a bleak outlook for Asia’s fourth largest economy and international trade as the coronavirus crisis slammed global demand. Exports contracted 46.3 per cent year on year in the period, while imports fell an equally dizzying 37.2 […]

Economy

US jobless rate triples to 14.7% in sharpest labour downturn

WASHINGTON – In the harshest downturn for American workers in US history, employers cut an unprecedented 20.5 million jobs in April and the unemployment rate more than tripled to 14.7 per cent. Back in February, before the coronavirus pandemic brought the U.S. economy to a standstill, the rate hovered at just 3.5 per cent. That […]