User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Sep 18 2020 03:30 IST RSS 2.0
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By the numbers: A snapshot of Chicago’s economy six months into the pandemic 18.9.2020 Chicago Tribune: Popular
Since the start of the coronavirus pandemic, hundreds of thousands of Chicago-area jobs were lost, consumer spending dropped 43%, and over half of temporary business closures became permanent.
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COVID-19 danger continues to drive joblessness in US, even as unemployment claims fall 17.9.2020 Chicago Tribune: Business
The number of Americans applying for unemployment benefits fell last week to 860,000, a historically high figure that reflects economic damage from the coronavirus outbreak. In Illinois, first-time claims for benefits totaled 23,339 last week, down from 25,478 a week earlier.
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Federal Reserve plans to keep interest rates near zero at least through 2023 17.9.2020 Chicago Tribune: Business
Fed Chairman Jerome Powell said the economic outlook still remains highly uncertain and depends heavily on the ability of the U.S. to get control of the pandemic. “A full economic recovery is unlikely until people are confident that it is safe to re-engage in a wide variety of activities,” Powell said.
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Economic expansion in 2019 brought income gains, poverty reduction but more uninsured 16.9.2020 LA Times: Business

The nation's uninsured rate worsened and the onset of COVID-19 means last year's income gains are long gone.

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Unemployment: Planned redundancies twice the rate of last recession 14.9.2020 BBC: Business
Employers are notifying the government of job cuts at twice the level seen in 2009.
Experts: US is experiencing a ‘K-shaped’ recovery that has troubling implications for the future of America’s economy 10.9.2020 Raw Story
During a Sunday appearance on “Fox News Sunday,” Symone Sanders, a senior campaign adviser to Democratic presidential candidate Joe Biden, lamented how recent economic gains were distributed unequally. “It is going well for folks at the top, but for folks who are middle class or below, it’s going down,” Sanders told host Bret Baier. “The question really is, is […]
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“It’s unprecedented”: Congress returns as Coloradans seek help with housing, unemployment 8.9.2020 Headlines: All Headlines
Crushed under the weight of economic shutdowns, many Coloradans expect the federal government to ease the financial burdens this pandemic has caused. For the past several months, their weary eyes have seen nothing but congressional stalemates and inaction.
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Presidential rivals Trump and Biden spar over Covid-19 vaccine 8.9.2020 BBC: Front Page
Trump accuses Biden of "reckless rhetoric" while the Democrat questions whether the president can be trusted.
Coronavirus: 300,000 redundancies planned in June and July 8.9.2020 BBC: Business
A Freedom of Information request shows a sixfold increase in the number of firms planning job cuts
It took decades to build Mexico's middle class. The coronavirus could demolish it 6.9.2020 LA Times: Nation

The coronavirus is eroding decades of slow but steady progress in building up Mexico's middle class. Economists say the damage will be long-lasting.

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Official Statistics Show Wage Growth, But That’s Due to Low-Wage Job Losses 5.9.2020
A study by the Federal Reserve Bank of San Francisco says the recent spike in wage growth is an ...
‘The situation is dire’: As Trump takes victory lap, new jobs report reveals alarming surge in permanent unemployment 5.9.2020 Raw Story
“The pain is nowhere near over for millions of workers and their families across the country.” President Donald Trump on Friday wasted no time taking a victory lap after the Bureau of Labor Statistics announced the U.S. unemployment rate fell to 8.4% in August, but economists warned a closer look at the new economic figures reveals an alarming surge […]
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US unemployment rate falls below 10% as firms rehire staff 4.9.2020 BBC: Business
It is the fourth month in a row that America's jobs picture has improved, as the economy begins to rebound.
France in huge coronavirus recovery plan focusing on green energy 3.9.2020 BBC: Business
France unveils a 100bn-euro plan to kick-start the economy, with a promise to invest in green energy.
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GOP under fire for offering ’emaciated’ COVID-19 relief plan as record layoffs continue and mass evictions loom 3.9.2020 Raw Story
“After weeks on taxpayer-paid vacation,” said one critic, “the best they could come up with in that time amounts to a band-aid as the economy continues to hemorrhage jobs.” As new Labor Department figures released Thursday morning confirmed mass layoffs continue at an unprecedented rate due to inaction from Congress and the ongoing pandemic, Democratic lawmakers and progressive advocacy […]
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New US unemployment claims fall below 1 million, but layoffs remain elevated 3.9.2020 Chicago Tribune: Business
The number of laid-off Americans applying for unemployment benefits fell to roughly 880,000 last week, a sign of possible improvement but evidence that the viral pandemic keeps forcing many businesses to slash jobs.
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The 1980s 'super recession': When unemployment topped 3m - and kept rising 1.9.2020 BBC: Front Page
As the UK copes with being in a recession, how does it compare with the recession in the 1980s?
Trump celebrates his economy as unemployment becomes top Google search query in 97 percent of US counties 1.9.2020 Raw Story
President Donald Trump and the GOP spent most of last week celebrating the Trump economy as being solid and on the rebound after the February recession and the coronavirus pandemic. Director of the United States National Economic Council Larry Kudlow said Trump rescued the United States as it was entering a recession. If one only […]
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ANATOMY OF A MAN-MADE DISASTER: 595 ways Trump has failed to protect us from COVID-19 30.8.2020 Raw Story
Crises have a way of sorting the good presidents from the bad. Historians rank Abe Lincoln and Franklin Delano Roosevelt among the top three presidents for their handling of the Civil War, the Great Depression, and World War II. By contrast, the string of catastrophes that trailed George W. Bush, from 9/11 to Iraq to Hurricane Katrina to his obliviousness to warning signs in the housing […]
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No, Trump didn’t create ‘the greatest economy in history’ — or even in the last few years 30.8.2020 Raw Story
The most repeated phrase of the Republican National Convention was that President Donald Trump created the greatest economy the world has ever seen. The evidence, however, shows that it’s not the greatest in world’s history, or American history.  It may not be even better than the Obama economy, even before the pandemic devastated our economy. […]
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