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.

New claims for unemployment benefits jumped last week for the second week in a row, signaling ongoing weakness in the job market as coronavirus infections continue to soar.

The Labor Department reported 778,000 people applied for state benefits in the week ending Saturday, an increase of 30,000 from the previous week.

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

STEVE INSKEEP, HOST:

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

ARI SHAPIRO, HOST:

And I'm Ari Shapiro in Washington, where the transition has officially begun. Last night, the General Services Administration at last acknowledged Joe Biden's win, paving the way for the new Biden administration.

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

MARY LOUISE KELLY, HOST:

Updated at 6:15 p.m. ET

The United States has had 77 Treasury secretaries in the last 231 years. So far, they've all been men.

That's about to change.

President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to head the Treasury Department, a source close to the transition told NPR on Monday

If confirmed, Yellen would play a leading role in shaping economic policy as the United States continues to dig its way out of the deep hole caused by the coronavirus pandemic.

Updated at 4:07 p.m. ET

After languishing for more than a year, Judy Shelton's controversial nomination to the Federal Reserve's board of governors appears poised for Senate confirmation in what is likely to be a narrow vote.

Senate Majority Leader Mitch McConnell moved to hold a vote sometime this week after Sen. Lisa Murkowski, R-Alaska, signaled her support for the nominee.

Shelton has attracted great scrutiny over views that place her well outside the economic mainstream.

What Brandon Fritze misses most this year is belting out Coldplay's "Yellow" at karaoke sessions with his friends.

"I was a big karaoke guy," said Fritze. "I'd be going to the karaoke bar pretty much every night. But since the pandemic started, the bar's been shut down and that wasn't an option. I don't think I've sung in eight months now."

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

AUDIE CORNISH, HOST:

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

AUDIE CORNISH, HOST:

Updated at 9:02 a.m. ET

U.S. employers added 638,000 jobs last month as the economy continued its slow recovery from the coronavirus recession. Job growth slowed for the fourth month in a row.

Loading...

When it comes to how the economy is emerging from the pandemic, voters couldn't be further apart.

A massive survey conducted by The Associated Press showed more than 4 in 10 Americans describe the economy as "good" or "excellent." And they voted overwhelmingly for President Trump.

Those who see the economy as "poor" or "not so good," on the other hand, were much more likely to cast their ballots for Joe Biden.

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

MARY LOUISE KELLY, HOST:

After a chaotic spring and uncertain summer, the workers and businesses that make up the U.S. economy are learning to adapt to this pandemic reality.

ARI SHAPIRO, HOST:

The U.S. economy grew at a record pace during the last three months, according to the last major economic report before the election.

Not many people are popping champagne corks, though, because GDP also shrank at a record pace during the previous three months. Despite the strong rebound in July, August and September, the economy has not yet recovered from the damage done by the coronavirus pandemic.

DAVID GREENE, HOST:

There is news this morning that the U.S. economy grew at a record pace during the past three months. Not many people are popping champagne corks, however. This is because the economy also shrank at a record pace in the three months before that. And as strong as the rebound was in July, August and September, it was not enough to repair the damage done by the pandemic earlier this spring. NPR's Scott Horsley is here to talk us through this. Hi, Scott.

SCOTT HORSLEY, BYLINE: Good morning, David.

On its surface, economic growth data out this week will look like one for the record books. But dig in, and the picture is not as bright.

The Commerce Department is expected to report on Thursday record-setting growth in gross domestic product during the most recent quarter, reflecting pent-up demand as businesses reopened and consumers streamed back into the marketplace.

Throughout her years as a working mother climbing the corporate ladder, Farida Mercedes tried to be home for dinner with her kids. But until recently, she never imagined staying home full time.

"I respect stay-at-home moms. But it wasn't part of my DNA," said Mercedes, who spent almost two decades working for the cosmetics company, L'Oreal. "I love the hustle. I love being hungry and passionate. And I love my children. But I just couldn't see myself out of that."

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

ARI SHAPIRO, HOST:

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

RACHEL MARTIN, HOST:

When the coronavirus pandemic hit this spring, government relief payments provided a life raft to millions of people who had been thrown out of work.

That life raft, however, is now losing air, threatening to leave the unemployed in a perilous situation just as Washington leaders struggle to clinch a new package of aid ahead of the November election.

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

ARI SHAPIRO, HOST:

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

AILSA CHANG, HOST:

Going once. Going twice.

Auctions are at the heart of this year's Nobel Memorial Prize in Economic Sciences. The winners — Stanford University professors Paul Milgrom and Robert Wilson — were recognized "for improvements to auction theory and inventions of new auction formats."

They designed the auction the FCC used to sell radio spectrum to wireless telephone companies, raising more than $120 billion for something the government used to give away for free.

Paul Milgrom and Robert Wilson will share the Nobel Prize for Economics this year. NPR's Scott Horsley reports.

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

Updated at 4:08 p.m. ET

Federal Reserve Chairman Jerome Powell urged Congress to provide another round of pandemic relief Tuesday, saying it's better to do too much than too little.

However, hours later, President Trump dashed hopes for any quick deal with lawmakers, saying he'd called a halt to negotiations until after the November election.

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

TONYA MOSLEY, HOST:

Here's a stunning stat: Women are leaving the workforce at four times the rate as men.

The burden of parenting and running a household while also working a job during the pandemic has created a pressure cooker environment in many households, and women are bearing the brunt of it.

Updated at 10:05 a.m. ET

Job growth slowed sharply in September, as U.S. employers added just 661,000 new workers.

The report from the Labor Department is the last snapshot of the job market before the November election, and it comes hours after President Trump and the first lady tested positive for the coronavirus.

Updated at 4:26 p.m. ET

Stock prices fell after President Trump revealed he had tested positive for the coronavirus, but recovered somewhat on hopes Congress would clinch a deal for a new round of stimulus.

The Dow Jones Industrial Average fell 134 points, or nearly 0.5%. The S&P 500 finished almost 1% lower, while the Nasdaq composite index lost 2.2%.

The coronavirus pandemic is taking a heavy economic toll on Asian Americans.

From Vietnamese nail salons to Cambodian donut shops, Asian-owned businesses have struggled. And Asian American workers have gone from having the lowest unemployment rate in the country to one of the highest.

Jerry Raburn lost his job at a mortgage servicing company in Southern California in March, just six months after he started.

"The business decreased dramatically, and based on seniority, I was let go," said Raburn, who came to the U.S. from Thailand when he was 8 years old.

From empty pizza boxes to Amazon cartons, household trash cans are overflowing with the refuse of our new, stay-at-home era — and cities are struggling to keep up.

Residential trash volume spiked as much as 25% this spring, according to the trade group Solid Waste Association of North America. It has shrunk a bit since then but remains well above pre-pandemic levels.

For garbage collectors, that means longer workdays and more trips to the dump.

Pages