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.

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:

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

SCOTT SIMON, HOST:

BJ Leiderman still writes our theme music, but pocket change is the new toilet paper. How's that for a transition?

SCOTT SIMON, HOST:

With America stuck in recession, prices have been falling but not at the supermarket. Grocery stores are doing a brisk business. As NPR's Scott Horsley reports, the way people are filling their shopping carts tells us something about how Americans are adjusting to the pandemic.

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

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

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.

NOEL KING, HOST:

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

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

Updated at 10:32 a.m. ET

Food prices have jumped the most since 1974, when double-digit inflation became a national concern. But inflation isn't a worry this time as prices for just about everything else are diving.

New inflation numbers out Tuesday from the Labor Department offer a window on how consumers are coping in the COVID-19 era. And the bottom line is that we're snacking more — and paying more for a lot of food — as we shop more at our local grocery stores.

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

NOEL KING, HOST:

As more businesses start to reopen and people go back to work, some companies are looking for advice on how to keep employees safe from the coronavirus.

So far, the federal government hasn't been much help.

"It's the Wild West out there," said Geoff Freeman, president of the Consumer Brands Association, which represents grocery manufacturers. "The federal government, particularly CDC and OSHA, is failing to provide the clear and specific guidance necessary to encourage relatively consistent adoption across the country."

Updated at 8:38 a.m. ET

The telephone lines are still jammed at the nation's unemployment offices.

Another 3.8 million people filed claims for jobless benefits last week, according to the Labor Department. While that's down from the previous week's 4.4 million, a staggering 30.3 million have applied for unemployment in the six weeks since the coronavirus began taking a wrecking ball to the U.S. job market.

That's roughly one out of five people who had a job in February.

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.

STEVE INSKEEP, HOST:

The coronavirus pandemic is likely to trigger the worst recession since the Great Depression — dwarfing the fallout from the financial crisis a dozen years ago, the International Monetary Fund warned Tuesday.

It predicts the global economy will shrink 3% this year, before rebounding in 2021. The expected contraction in the U.S. will be almost twice as sharp, the IMF said, with the gross domestic product falling by 5.9% in 2020. The IMF predicts a partial recovery in the U.S. next year, with the economy growing by 4.7%.

As the United States tumbles into a coronavirus recession, the Federal Reserve is using its nearly unlimited power to generate cash to cushion the fall.

"The Fed is doing everything they can to keep financial markets functioning and credit available to households and firms," former Fed Chair Janet Yellen said during a forum organized by the Brookings Institution.

Factories in the U.S. are hunkering down like the rest of us.

Manufacturing activity slowed in March, according to a survey conducted by the Institute for Supply Management.

Production and factory employment fell sharply, as the coronavirus pandemic and other problems weighed on the factory sector. New orders hit their lowest level in 11 years.

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

RACHEL MARTIN, HOST:

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

ARI SHAPIRO, HOST:

The toll of the coronavirus pandemic is steep - hundreds of thousands of confirmed infections around the world, tens of thousands of lives lost.

ALISA CHANG, HOST:

The U.S. economy has never hit the brakes quite like this before.

While the course of the coronavirus pandemic is unpredictable, forecasters are using their economic models and making some educated guesses about just how bad the damage will be. The forecasts are not pretty:

  • Oxford Economics expects the U.S. economy to shrink at an annual rate of 12% between April and June.
  • JPMorgan Chase sees a second-quarter contraction of 14%.

Updated at 11:15 a.m. ET Thursday

The Trump administration wants to give Americans an emergency shot of spending money, even as it's closing many of the places they would ordinarily spend it.

As part of its $1 trillion proposal to address the economic fallout from the coronavirus pandemic, the administration has proposed sending up to $500 billion directly to U.S. households.

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.

STEVE INSKEEP, HOST:

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

MICHEL MARTIN, HOST:

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

MICHEL MARTIN, HOST:

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

NOEL KING, HOST:

RACHEL MARTIN, HOST:

Stocks fell deeper into the red this morning as investors tried to grapple with the economic cost of the coronavirus pandemic. Trading was briefly halted just minutes after the opening bell, when the S&P 500 index plunged by seven percent. Last night, President Trump announced new measures to try to contain the virus and shore up the economy.

(SOUNDBITE OF ARCHIVED RECORDING)

Pages