Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.

Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.

Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.

It may seem obvious, with double-digit unemployment and plunging economic output. But if there was any remaining doubt that the U.S. is in a recession, it's now been removed by the official scorekeepers at the National Bureau of Economic Research.

The bureau's Business Cycle Dating Committee — the fat lady of economic opera — said the expansion peaked in February after a record 128 months, and we've been sliding into a pandemic-driven recession since.

Updated at 4:13 p.m. ET

The U.S economy rebounded with surprising strength last month as businesses began to reopen from the coronavirus lockdown. U.S. employers added 2.5 million jobs in May, and the unemployment rate fell to 13.3%.

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Updated at 8:47 a.m. ET

The coronavirus pandemic has pushed unemployment to its highest level since the Great Depression, but the pace of layoffs has been easing. And there are now some signs that the job market could slowly start to recover.

The Labor Department says another 1.87 million people filed claims for unemployment insurance last week. That's down 249,000 from the previous week. While still very high by historical standards, the number has been declining steadily from a peak of 6.8 million the week ending March 28.

Updated at 10:36 a.m. ET Wednesday

The death of a black man at the hands of a white police officer has sparked days of civil unrest in the United States. Those sparks have landed in a tinderbox assembled over decades of economic inequality, now made worse by the coronavirus pandemic.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

President Trump is warning of possible sanctions this week against China over its treatment of Hong Kong. It's the latest source of friction in what's become an increasingly tense relationship between the world's two biggest economies.

Preschool teacher Lainy Morse has been out of work for more than two months. But the Portland, Ore., child care center where she worked is considering a reopening. Morse says she is dreading the idea, as much as she loves the infants and toddlers for which she cared.

"They always have snotty faces. It's just one cold after another," she says. "It feels just like an epicenter for spreading disease. And it feels really scary to go back to that."

RACHEL MARTIN, HOST:

Tens of millions of people are out of work because of the coronavirus. But if they apply for unemployment, they get $600 a week, which is more than some were making in their previous jobs. That was a deliberate effort by Congress to cushion the economic fallout from the pandemic, but now those benefits are getting a second look. Here's NPR chief economics correspondent Scott Horsley.

The United States is still losing jobs at an alarming pace two months after the coronavirus pandemic took hold.

Another 2.4 million people filed claims for unemployment last week, the Labor Department reported Thursday. That's down 249,000 — or 9% — from the previous week, but still painfully high by historical standards.

In the past nine weeks, jobless claims have totaled 38.6 million. That's roughly one out of every four people who were working in February, before the pandemic hit.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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Members of the Senate Banking Committee squabbled Tuesday over how quickly the U.S. economy can rebound from the coronavirus shutdown and whether the federal government is doing enough to support struggling families and businesses in the meantime.

Federal Reserve Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the coronavirus pandemic. But he says this will not be another Great Depression.

"It's going to be a very sharp downturn," Powell said in an interview with 60 Minutes that aired Sunday. "It should be a much shorter downturn than you would associate with the 1930s."

With the U.S. economy in free-fall, a lot of forecasters have been digging deep into the history books, looking for a guideposts of what to expect. Often, they've turned to the chapter on the 1930s.

"Clearly people have made comparisons to the Great Depression," said former Federal Reserve Chairman Ben Bernanke.

"It's not a very good comparison," he cautioned.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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