Jim Zarroli | New Hampshire Public Radio

Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

Over the years, he has reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders, and Ponzi schemers. Most recently, he has focused on trade and the job market. He also worked as part of a team covering President Trump's business interests.

Before moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position, he reported from the United Nations and was also involved in NPR's coverage of Hurricane Katrina, the London transit bombings, and the Fukushima earthquake.

Before joining NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

He lives in Manhattan, loves to read, and is a devoted (but not at all fast) runner.

Zarroli grew up in Wilmington, Delaware, in a family of six kids and graduated from Pennsylvania State University.

Updated at 11:34 a.m. ET

New claims for unemployment benefits rose last week for the first time in four months — since March 28 — as states began reimposing lockdown restrictions in an effort to reverse a surge of coronavirus cases.

More than 1.4 million new claims were filed during the week ending July 18, an increase of more than 100,000 over the week before, the Labor Department reported Thursday.

Updated at 12:45 p.m. ET

The dramatic collapse of the U.S. economy from the coronavirus is pummeling America's largest banks, raising new concerns about how much growth is slowing.

They fume and rage and demand their rights. Sometimes they even get violent.

In the age of COVID-19, most people practice social distancing guidelines when they go into stores and restaurants, putting on masks and standing 6 feet behind other customers.

Still, there are the nightmare customers — those who refuse to comply.

"I've had a lot of conflict. I've had a lot of pushback from people," says Brenda Leek, owner of Curbside Eatery in La Mesa, Calif.

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Stock prices took another nosedive Wednesday, amid fears that a spike in coronavirus cases in parts of the Sunbelt could force the economy into another lockdown.

The major stock indexes finished the day down more than 2%, as investors grappled with evidence that the economy may not rebound as fast as they'd expected.

The Dow Jones Industrial Average lost 770 points, a drop of more than 2.7%.

Shares of companies that have been especially hard hit by the pandemic, such as homebuilders and cruise lines, lost ground, as did bank stocks.

Updated at 4:07 p.m. ET

Stocks plunged Thursday amid reports of a second wave of coronavirus cases, as well as a warning from Fed officials that the economy may take longer than first thought to recover.

After the coronavirus lockdowns forced it to shut down its 345 U.S. theaters, Texas-based Cinemark in April decided to do what a lot of companies have done: borrow money by selling bonds.

It's counterintuitive.

At a time of roiling civil unrest and an unprecedented economic crisis, stock prices are chugging along quite nicely. In fact, they have rebounded sharply since the dark days of March.

The Dow Jones Industrial Average, which lost 37% of its value between Feb. 12 and March 23, has now regained more than two-thirds of the ground it lost. Same with the broader S&P 500 index.

Trevon Ellis spent years building up his north Minneapolis barbershop, the Fade Factory, luring customers with smart haircuts, snacks and friendly conversation.

It took just one terrible night to destroy it all.

"Inside is totally burned down," Ellis says. "Everything was burned to a crisp."

The recent wave of protests against police brutality has left a trail of chaos and destruction in many city neighborhoods, with countless businesses looted and damaged.

Updated at 8:43 a.m. ET

Another 3.2 million people filed for unemployment for the first time last week, bringing the total number of jobs lost during the coronavirus crisis in the last seven weeks to at least 33.5 million.

Last week's number was down from the nearly 3.9 million initial claims filed the week ending April 25, and filings have fallen for five weeks in a row.

The claims numbers come one day before the release of the April jobs report, which is expected to show a staggering jump in unemployment to around 16%.

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State unemployment funds are starting to run dry. They simply can't keep up with the flood of unemployment claims coming in right now. Some 30 million people have applied for benefits since the middle of March. Here's NPR's Jim Zarroli.

Normally, spring is the time when Gillson Trucking's fleet of 150 trucks are at their busiest, transporting strawberries and lettuce from the farms of California's Central Valley to restaurants in the Northeast and Midwest.

But with most of the country's restaurants shut down indefinitely, the trucks are mostly sitting idle right now.

"The produce is available, but because of these restaurant chains has been closed down there are no buyers," says the Stockton, Calif., company's co-owner, Harsimran Singh.

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Updated at 8:46 a.m. ET

The number of people forced out of work during the coronavirus lockdown continues to soar to historic highs. Another 4.4 million people claimed unemployment benefits last week around the country, the Labor Department said.

That brings the total of jobless claims in just five weeks to more than 26 million people. That's more than all the jobs added in the past 10 years since the Great Recession.

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Updated at 1:36 p.m. ET

Restaurant chains, construction companies and mobile-home makers are among more than a million businesses approved for loans so far under the government's $349 billion Paycheck Protection Program.

The program is primarily intended to benefit small businesses — defined as those with fewer than 500 employees — hurt by the coronavirus pandemic. However, some larger, publicly traded companies have also qualified for loans.

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Tonight President Trump announced new guidelines for a gradual step-by-step reopening of the country.

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Updated at 8:43 a.m. ET

The number of people filing for unemployment climbed by another 5.2 million last week as the toll of the nation's economic dive amid the pandemic continues to mount. That number is down from the revised 6.6 million in the week that ended April 4, the Labor Department said.

But in the past four weeks, a total of 22 million have filed jobless claims — nearly wiping out all the job gains since the Great Recession.

The coronavirus, we are sometimes told, is a great equalizer, preying on both the elite and the ordinary, the well-heeled and the downtrodden.

"It doesn't care about how rich you are, how famous you are," Madonna assures us in her latest video, sitting naked in bathwater laced with rose petals.

But being rich sure does let you ride out the pandemic in much more pleasant surroundings.

Banks are starting to reel from the financial impact of job losses and business shutdowns across the country from the coronavirus.

Two of the nation's biggest banks reported plummeting profits during the first three months of the year as they sought to prepare for an onslaught of defaults in debt that ranged from credit cards and mortgages to business loans.

Updated at 2:25 p.m. ET

One of the country's largest pork-producing plants closed indefinitely after nearly 300 of its employees tested positive for COVID-19. And the company's CEO warned that the coronavirus pandemic is pushing the nation's meat supply "perilously close" to the edge.

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Updated at 10 a.m. ET

The number of people seeking unemployment benefits shot up again last week, as 6.6 million more people filed initial claims, the Labor Department said Thursday. About 16.8 million have filed in the past three weeks, and analysts expect the numbers to keep rising.

In the prior week, ending March 28, a revised 6.9 million people filed first-time claims.

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Updated at 10:51 a.m. ET

A record 3.28 million Americans filed for unemployment benefits last week as the coronavirus pandemic shut down much of the country. The Labor Department's report for the week ended March 21 was one of the first official indicators of how many people have suddenly been forced out of work nationally.

In the prior report, for the week ended March 14, initial claims totaled 282,000.

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Updated at 10:13 a.m. ET

New claims for unemployment benefits climbed to 281,000 last week as the coronavirus pandemic shuttered businesses and left people out of work, the Labor Department said Thursday. It was the highest level since Sept. 2, 2017, when they totaled 299,000.

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There's been a sharp spike in the number of companies laying workers off. A lot of states say they're suddenly flooded with unemployment claims. And as NPR's Jim Zarroli reports, some are not prepared for the onslaught.

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