you can keep up to date with all the latest news on our website that's t w dot com and you can follow us on twitter and on instagram too. i'm unique and i mistimed thanks for joining us. from boston and i literally do keep every year on the books for over a match at home the 4th time from the most recent at the columbus zoo or at least the bottom of the ballets at the nasa dragons this one has called the hard. to agree books on. passionate drama competition wife marketing numbers atmosphere by at time and traditional love

hate money. fans around the planet of spam and. only. because we love football. to go off on you tube joining us. the world's biggest economy is creating jobs again as pandemic shutdowns are easing the u.s. unemployment surprisingly drops many raising hopes the economy could recover from the coronavirus prices sooner than expected also from the international monetary fund warns the pandemic could push emerging economies back several years in their development and british luxury carmaker bentley says aleck's nearly one quarter of the workforce facing the double. lenna of any virus been damaged and

a potential no deal braxton's. congress over in the land welcome to the program more than 42000000 people in the united states have lost their job in the corona cotto no virus crisis so far but recent figures indicate the worst could be over as the unemployment rate in the u.s. is falling the bureau of labor statistics says the jobless rate fell to 13.3 percent last month 2 and a half 1000000 people found work after more than 20000000 lost their jobs in april alone the rise in employment could suggest that companies are bringing workers back on board as parts of the economy reemerge from locked out. for more let's bring in the dollars financial correspondent yes korda in new york yes were we expecting the jobless figure to fall. nobody expected it there were no economists that could imagine that that we would see an increase in jobs 2

and a half 1000000 new jobs for the month of weight may that is the best monthly increase per in u.s. history just recently the federal reserve expected that the economy might contract by 50 percent in the 2nd quarter but that seems less likely so now that we see a pretty strong comeback science and at least on the labor market and yes quickly tell us how the markets react to the news. that was. created bill increase that we saw a blue chips up by more than $800.00 points more than 3 percent done for the week blue chips are up almost 2000 points so there was a huge reaction here on wall street so markets have recovered strongly after the initial coronavirus shock did they have a viable reason to do so and do we have to expect a 2nd massive drop again once the dust settles. well we might see another drop at

judy on the labor market and also on the stock markets because we shouldn't forget that the u.s. government at the federal reserve has ruled trillions of dollars at the problem and what happens when those governmental programs and it is not unlikely that we might then see another wave of layoffs we also still have quite a few companies on the brink of bankruptcy so it's good to see those numbers for now yes the economy the jobs are coming back quicker than expected but that does not mean an end to the crisis and a lot of analysts on wall street are also getting a bit uncomfortable what levels we reach the blue chips now across the twenty's the 7000 point mark and the nasdaq composite actually even end the week on a new all time high and yes briefly are there other signs for the u.s. economy getting back on track. all week long we saw some signs that

things are not great but not as bad as some fear it and then we do see business gaining some traction for example when you look at the construction industry but also allies are slowly restarting their fleets of airline stocks by the way were up by 35 percent on the week that was the best week for airline stocks ever the u.s. is creating jobs again yes yes quarter reporting for us from new york yes thank you . now despite the rising optimism on the u.s. labor market the coronavirus pandemic has deeply scarred the world's biggest economy often hitting those with already low or unstable income still hardest thing as a result millions have been forced to turn to food banks across the country. look beyond the economic numbers and you find scenes like this a car park turned into

a heaving food bank on the outskirts of new york city and a convoy of shared desperation. very. mother of 4 must see a doctor he lost her hotel job when this crisis began and when the kids in class i would say you have to go makes a little sugar and water just assert that. you. know what this is. and the grates on rivaling of the u.s. jobs market this drive through food bank has become a lifeline for those hardest hit the people who distribute it publicly though the number 1200000 were new this year same time as last year it's a dramatic ending for the myriad believes he knows where her husband was laid off making ends hard to meet her job is safe for now i think i take care of her to various officials that work in the intensive care unit at bellevue. i have been

very stressed but good to say the least. she's not alone long lines reflect the depths of despair this pandemic has brought. and hopefully we'll be able to get over this. current of a list together. here at least community is helping. so far countries in africa have had more than 160000 confirmed infections and nearly 5000 deaths from covert 9000 according to official figures many experts believe the continent is only in the early stages of the panda but economically things are already looking to. in northeastern nigeria the pandemic very nearly caused a famine. now the international red cross is distributing seeds so that farmers can cultivate their fields again. we couldn't go anywhere because of covert 19

and we weren't able to work. so we just stayed at home and suffered. even before the outbreak most people here lived hand to mouth and now there's even less to go around thanks to foreign investors withdrawing capital and because those living abroad are sending less money home in fact the coronavirus crisis could push nigeria back several years when it comes to fighting poverty and it's not alone says the i.m.f. between 35 and 40 sub-saharan african countries have made a request for emergency assistance from the i.m.f. and 27 countries so far have received financing from the fund they have received. for a total of about u.s. $10000000000.00. nigeria has received $3000000000.00 partly because the country has

another problem on its hands a drop in global demand means oil prices remain low that makes production barely profitable nigeria may need further loans from abroad to see itself through the crisis the i.m.f. says it's prepared to make more funds available. let's take a look now at some of the other business stories making news around the german prosecutors are investigating the board of financial tech from wire caught on suspicion of market manipulation after the electronic payments developer repeatedly put all of the publication of the 29000 financial results investigators in unity had been searching headquarters. canadian aircraft manufacturer bombard 2 and a half 1000 jobs this year that's 10 percent of its global workforce citing the impact of the 19 pence. make on demand for its business just last month bob barr gave reported a $200000000.00 1st quarter loss. luxury

british carmaker bentley has also announced it will cut around $1000.00 jobs or nearly one quarter of its workforce as the coronavirus plagues struggling car seats it's the latest on a raft of bad news for the global auto industry but for the 800000 workers in britain's car sector an economic recession combined with the looming prospect of a new deal brags it has created the ultimate horror sin aria. production at press markets only slowly starting again normally 90 people were in the heart of england supplying steel parts for the car industry. coronas hit the company hard they have very few new orders the last thing they need is a hard drags it with no trade deal and the end of the year that's going to be a double whammy it's very difficult especially in a market that's been depressed as well so it's 2nd a triple hit it's going to be the most challenging time in my career ever the u.k.

car industry is facing its biggest crisis ever due to the virus. luxury carmaker mclaren had to layoff a quarter of its workforce and nodia bragg's it with the e.u. would mean that cost as well as components would be hit with a 10 percent tariff making u.k. cost very expensive to sell on the continent its main export market if there was a no trade deal breaker at the end of the year there would be a hit to exports and therefore a hit to production in the u.k. and we would see tens of thousands of job losses there's a very real question mark about whether some plants would actually close and in the longer term car companies my dream located to the continent if they get investment decisions then go again to the u.k. over the next few years a possible loss of output of the order of another half a 1000000 cars and you know that would mean much of the u.k. mass industry effectively being wiped out at the supplier press mark there that are

hoping that the u.k. and the e.u. will agree to extend the so-called transition period to give more time to reach a deal. and under wraps up our program as usual you can find more on our web site at d w dot com slash business or on our social media i'm chris called rambling from me and the entire team thanks for watching i'm ever so.

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