Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased.

Major U.S. stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared.

As many parts of the world's biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect a quick return to growth, U.S. Federal Reserve officials said on Friday.

Follow our live coronavirus updates HERE Coronavirus: The symptoms

Follow our LIVE updates about the coronavirus outbreak here Coronavirus: The symptoms

Follow our live coronavirus updates here

Fashion chains Oasis and Warehouse have fallen into administration, affecting some 2,300 workers.

Follow our live coronavirus updates here Coronavirus: the symptoms

Follow our live coronavirus updates HERE

The first official signs of the jobs fallout from the coronavirus lockdown emerged today as figures showed the number of people in paid employment falling and job vacancies starting to dry up.

Cath Kidston is cutting 900 jobs and permanently shutting 60 UK stores.

America's economic crisis deepened today as new figures revealed 26 million people have now claimed unemployment benefits since the country started going into lockdown.

More than 1,800 people are set to lose their jobs at Oasis, Warehouse and two other brands, after administrators were unable to find a buyer for the business.

Ryanair has said it expects up to 3,000 jobs to be lost as part of a restructuring of the airline.

Spain's strict coronavirus lockdown has sent the unemployment rate to a near four-year high.

British airline to make drastic cut to staffing and end operations at Gatwick amid financial fallout from coronavirus pandemic

Nearly a quarter of employees in Britain have been furloughed in just two weeks, officials have said.

Airbnb CEO Brian Chesky described the global pandemic as the "most harrowing crisis of our lifetime" and said the coronavirus has cut the company's anticipated revenue in more than half.

The ride-hailing company is cutting 3,700 jobs. It's the latest U.S. tech company to turn to layoffs to deal with fallout from the coronavirus crisis.

Canada Emergency Response Benefit (CERB), for people who lost income due to COVID-19, provides $2,000 a month for up to four months.

The U.S. unemployment rate hit 14.7 per cent in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.

Statistics Canada reported Friday that the economy lost nearly two million jobs in April and the unemployment rate soared to 13.0 per cent as the full force of the pandemic hit.

The Canadian economy lost almost two million jobs in April, a record high, as the closure of non-essential services to slow the spread of COVID-19 forced businesses to shutter temporarily.

Actor Kevin Spacey has broken his silence over sex assault allegations, comparing being shunned by the film industry to those who are out of work as a result of the coronavirus crisis. The 60-year-old American Beauty star has not appeared in a professional movie or series since accusations of abuse were made by several men. "I don't think it will come as a surprise for anyone to say that my world completely changed in the fall of 2017,” he said in comments made during an interview for the German business conference Bits & Pretzels podcast. “My job, many of my relationships, my standing in my own industry were all gone in just a matter of hours.” The former House of Cards lead, who was dropped by the show after allegations surfaced, has largely kept a low profile since the allegations were made. He was also removed from the film All the Money in the World, which had to be reshot with actor Christopher Plummer. Spacey has always denied the claims, several of which date back several decades. “While we may have found ourselves in similar situations, albeit for very different reasons and circumstances, I still believe that some of the emotional struggles are very much the same," he said. “And so I do have empathy for what it feels like to suddenly be told that you can't go back to work or that you might lose your job and that it's a situation that you have absolutely no control over.” At the end of the podcast interview, Spacey added: “I was so busy defining myself by what I did or what I was trying to do, that when it all stopped I had no idea what to do next. All I knew how to do was act, I was born to do it. “I don’t want to sugarcoat this devastating time that we’re in, I am hoping that I can encourage you to see an opportunity in all of this and turn this into a positive.”

Philip Rivers already has his next job set up, though he won't start coaching the St. Michael Catholic High School football team in Alabama until he retires as an NFL quarterback.

U.S. employers shed a record number of jobs in April, as the unemployment rate climbed to the highest since the Great Depression. The coronavirus crisis has locked down much of the economy.

NPR's Ron Elving talks about the historic U.S. unemployment rate, and the Justice Department's move to drop its criminal case against former national security adviser Michael Flynn.

Prime Minister Justin Trudeau says it's a fundamental principle of life in Canada that no one should have to go to work if they don't feel safe doing so.

The U.S. economy lost more than 20 million jobs in April amid the deadly coronavirus outbreak, sending the unemployment rate to 14.7 percent — the highest since the Great Depression.

'If I'm not acting, I'm not sure who I am,' the True Blood star said

Andersson said it has been "humbling" to return to her old profession during the coronavirus crisis

Rylan Clark-Neal has revealed his career could have taken an entirely different turn if he'd accepted an unexpected offer made by the former US presidential candidate Hillary Clinton.

The supermarket has responded after the comedian revealed he missed out on a delivery driver job

Networking and expanding job opportunities during lockdown is easier than you think. Laura Hampson speaks to career coach and consultant, Hannah Salton to see how it's done

The once-acclaimed actor then admitted he felt lost when the #MeToo movement turned his life upside down.

Former Tottenham boss Mauricio Pochettino is now the even-money favourite to take over from Steve Bruce as Newcastle United manager.

Gareth Southgate says no other coaching job could ever be as fulfilling as managing England.

Trump expects a sharp bounce-back in jobs. But as bankruptcies pile up, the labor market will need much of the next decade to replace the jobs gone for good.

Compared to the Great Recession, fewer male and blue-collar workers have lost jobs, while women, Latinos, African Americans and young workers have been hit hardest.

Wendy Morgan has a degree in science, 40 years of work experience and even a forklift licence, but no-one will give her a job. She says living on Newstart makes the job hunt even harder.

The 34-year-old from Richmond Hill returns to Kingston, where he spent three seasons as coach of the OHL’s Frontenacs.

California lost more manufacturing jobs to China than any other state.

Coronavirus unemployment hits a broad swath of industries across California.

Nail guns that help you hang photos, twinkle lights, slatwall siding, and more. Get your DIY project done faster.

As the National Horse Traceability Scheme awaits an official launch, experts say horse welfare is falling short while volunteers take the lead.

The think tank predicts between 14 and 26 per cent of the entire Australian workforce will lose their job, if they haven't already, as a result of government shutdowns and physical distancing rules.