As the worldwide death of Covid-19 approaches 400,000, U.S. health officials are closely monitoring case numbers and hospitalization rates as states continue to loosen blocking measures and reopen various types of businesses.
The US cases have risen since Memorial DayBut New York City reached an optimistic milestone this week: On Friday, the city, the epicenter of the US outbreak, reported no coronavirus deaths for that day. That hasn’t happened since March. NYC is expected to enter the first phase of its reopening on Monday.
According to the World Health Organization, the virus continues to spread rapidly in parts of Latin America and Eastern Europe. Brazil’s caseload and mortality rate are particularly high, although Reuters reports that President Jair Bolsonaro has threatened to pull his country out of the WHO.
This is CNBC’s live blog with the latest news on the Corona virus outbreak. This blog will be updated later in the day once the news is released.
- Global cases: More than 6.76 million
- Worldwide deaths: At least 395,400
- US cases: More than 1.89 million
- Deaths in the U.S.: At least 109,000
The above data has been compiled by Johns Hopkins University.
In a surprising employment report, economists once again speak of a V-shaped recovery
10:45 a.m. ET – According to a surprising report by the Bureau of Labor Statistics on Friday, which shows a drop in unemployment contrary to expectations, talk about a V-shaped recovery has sparked again. Jan Hatzius, chief economist at Goldman Sachs, said in a note that the report marked the “beginning of the recovery in the job market”, while Tom Porcelli, chief economist at RBC Capital Markets, described employment growth in May as “just the beginning.”
However, experts say that there is still a long way to go. The 2.5 million jobs gained in May represent only a small portion of the jobs lost in March and April, and different restrictions on social distance still exist across the country. Scott Clemons, chief investment strategist at Brown Brothers Harriman, said the recent rally in stocks is the market awaiting activity recovery. “That seems to be coming faster than expected,” he said. – – Tucker Higgins
After the pandemic, you may find a robot that does its job
10:22 a.m.ET – – During a downturn, companies typically invest in automation to save labor costs. Thanks to the coronavirus pandemic, we will see more of it, according to futurist and author Ravin Jesuthasan, who has written four books on the future of work and is a member of the Labor and Employment Steering Committee of the World Economic Forum. CNBC’s Annie Nova has the full report. – Kenneth Kiesnoski
Source: Ravin Jesuthasan
Please wait in your car until we call you
10:00 AM ET entrepreneurs are getting creative with their reopening strategies, trying to reconcile the need to protect employees and customers amid a pandemic and desperate desire to get back to work.
From treadmills surrounded by translucent plexiglass barriers to waiting rooms in the parking lot, here’s what you can expect when America gets back to work. CNBC’s Cory Rose got the full report. – – Elisabeth Butler Cordova
How and when professional sport can return
9:50 am ET – So many sports fans are ready for the return of an appearance of professional sports. CNBC’s Brian Clark and Jordan Smith explain in the following video what it could look like if it happened. – –Elisabeth Butler Cordova