Scott Horsley

Millions of Americans went back to work last month as the economy re-opened. But the job gains could be jeopardized by a new surge in coronavirus infections.

COVID-19 cases are surging in several states. In some places, officials are urging people to stay home and enjoy July 4th celebrations, like fireworks, from their houses.

The U.S. economy is slowly climbing out of a deep recession. The country added a record 4.8 million jobs last month. But now, job growth may be slowing, as the number of new coronavirus cases soars.

The unemployment rate fell to 11.1%. But there are indications that the job growth has slowed recently amid a surge of new coronavirus infections.

The Labor Department issues its monthly report on employment and unemployment Thursday. The job market is slowly recovering from a tidal wave of layoffs triggered by the coronavirus pandemic.

People aren't waiting for governors or mayors to make the decision for them. Real-time data show they cut back on spending when they're worried about being infected with the coronavirus.

In areas that have seen a spike in coronanvirus cases, consumers are getting more cautious about spending money – a reminder that the best way to help the economy is to get control of the pandemic.

President Trump declared that the trade deal with China is still on, despite growing friction between the two countries. China has increased purchases of U.S. goods but is still short of its promises.

In another sign of how the coronavirus crisis is disrupting commerce, banks are running short of nickels, dimes and quarters. The Federal Reserve, which supplies banks, is having to ration change.

Nickels, dimes, quarters, and pennies aren't circulating the way they normally do since the pandemic. It's forced the Federal Reserve to temporarily ration coins that businesses need to make change.

The pandemic has changed the way Americans spend money, and wealthy families started spending less. Their cautious spending on in-person services may put the brakes on economic recovery.

While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.

Lainy Morse, a preschool teacher, dreads going back to a classroom filled with kids who don't understand hand-washing or social distancing. And she'd make less than she does on unemployment.

The price of baking flour has fallen along with the price of eggs, suggesting an easing in the baking craze that gripped hungry and housebound consumers in the early weeks of the coronavirus pandemic.

Even as restaurants start to re-open, analysts say we're likely to keep eating more of our meals at home for some time to come, which is affecting grocery prices.

The Fed leaves interest rates near zero as expected, and promises to use all of its tools to support the economy. Officials project unemployment above 9% at the end of this year.

A better-than-expected jobs report may have lawmakers feeling less urgency about the need for another round of the pandemic relief. But economists say it is too soon to pull the plug on federal help.

The National Bureau of Economic Research has announced Monday the U.S. economy is officially in a recession. Economists said the recession is unusual, but they hope it could end quickly.

The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.

A monthly job report published Friday has shown signs of strength in the labor market. Unemployment has declined and employers have created millions of new jobs in May.