User: newstrust Topic: Personal Finance
Category: Unemployment
Last updated: Jul 14 2020 07:31 IST RSS 2.0
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The US monthly budget deficit hit an all-time high of $864 billion in June, amid COVID-19 recession and mass unemployment 14.7.2020 Chicago Tribune: Business
We're on track to hit a forecasted $3.7 trillion deficit for the whole year, which would surpass the previous annual record set during the 2008 financial crisis.
Post-Pandemic Education Must Move Beyond Mere Job Training 12.7.2020
As education confronts economic crisis and COVID, more training for jobs that can disappear overnight isn't the ...
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‘It’s back-to-back 9/11s’: MSNBC’s Nicolle Wallace blasts Trump’s failed leadership on coronavirus pandemic 11.7.2020 Raw Story
Speaking to physician Dr. Kavita Patel on Friday, MSNBC’s Nicolle Wallace noted that the coronavirus crisis, along with the Russian bounty scandal, the recession and increasing unemployment numbers are like a bunch of little “back-to-back 9/11s.” Wallace, who served in the White House communications department under President George W. Bush saw 9/11 and the aftermath […]
John Lewis to close eight stores permanently 9.7.2020 BBC: Front Page
The move to "secure the business's long-term future" puts 1,300 jobs at risk.
Coronavirus: Chancellor Rishi Sunak sorry for not being able to protect all jobs 9.7.2020 BBC: Front Page
The chancellor warns the UK is facing a "severe recession," with "significant" job losses.
Coronavirus, unemployment, uncertainty imperil Texas workers: 'It trickles down' 9.7.2020 LA Times: Health

As coronavirus spikes in Houston, refinery towns to the east that boomed before the pandemic now face business closures and layoffs.

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Coronavirus: How are other economies dealing with the downturn? 8.7.2020 BBC: Business
As the UK chancellor gives his latest update, how are other economies tackling the coronavirus slowdown?
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GOP senator: I may not support more stimulus because of the ‘great’ 11 percent unemployment 3.7.2020 Raw Story
On Friday, NBC News reported that although President Donald Trump remains interested in a second round of stimulus payments, many Senate Republicans are not. One of these skeptical Republicans is Sen. Bill Cassidy (R-LA), who told reporters that he wanted to wait and see in light of the “great” new unemployment numbers. “Sen. Bill Cassidy, […]
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High-profile Trump donor now doubts the president’s hopes for re-election: report 3.7.2020 Raw Story
Peter Thiel, the tech entrepreneur and iconoclast who openly embraced Donald Trump’s 2016 campaign, now has doubts about whether the president can win re-election and is keeping his distance from the campaign, according to a report in the Wall Street Journal. The Daily Beast had previously reported that Thiel wasn’t playing an active role in the Trump campaign […]
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Trump Holds Press Conference to Celebrate Massive Unemployment Rate 2.7.2020 Mother Jones
The latest jobs report is out—and with 4.8 million jobs added to the economy last month and unemployment falling to 11.1 percent, it’s far better than most economists had expected. It’s encouraging news, to be sure, but joblessness remains higher than at any point during the Great Recession. Furthermore, the report is a bit stale; […]
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Congress eyes more spending as coronavirus surges and economy struggles 2.7.2020 Chicago Tribune: Business
There is a growing recognition across party lines that Congress will need to spend more money, soon, to continue to prop up the U.S. economy during the coronavirus recession.
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Unemployment falls to 11.1% in June amid record job gains, but pandemic dims outlook 2.7.2020 Chicago Tribune: Business
U.S. employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month yet still remained far short of regaining the colossal losses it suffered this spring.
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How North Carolina Transformed Itself Into the Worst State to Be Unemployed 2.7.2020 Mother Jones
This story was published in partnership with ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for The Big Story newsletter to receive stories like this one in your inbox. By March, when the coronavirus began accelerating through the United States, Shawn Hill-Watkins had been working as a cashier at a Food Lion supermarket […]
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Coronavirus and unemployment: How bad is it? 5 key questions. 2.7.2020 Chicago Tribune: Business
Economists have forecast that employers added 3 million jobs in June and that the unemployment rate dropped to 12.3%. If they’re correct, Americans have still recovered just one-quarter of the jobs they lost in March and April,
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Democrats Want to Take the Fate of the Unemployed Out of Mitch McConnell’s Hands 1.7.2020 Mother Jones
As temporary enhancements to unemployment benefits are set to sunset at the end of July, Senate Democrats are proposing a permanent extension, one that would automatically adjust with changing economic conditions, marking a leftward shift among the party’s leadership as it navigates the country’s economic recovery in the face of the pandemic. The proposal, from […]
How North Carolina transformed itself into the worst state to be unemployed 30.6.2020 Raw Story
By March, when the coronavirus began accelerating through the United States, Shawn Hill-Watkins had been working as a cashier at a Food Lion supermarket in High Point, North Carolina, for seven months, taking three buses to work and back each day. She couldn’t afford the groceries she was ringing up for customers, but she had […]
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‘Cruel and bad economics’: Analysis warns devastation will follow if GOP cuts off $600 unemployment boost 27.6.2020 Raw Story
“It would be a catastrophe to let these turn off and replace them with nothing.” A leading progressive economist warned Friday that devastating job losses and income cuts will result if Congress bows to President Donald Trump and Republicans in the Senate and lets the $600 weekly boost in unemployment benefits expire at the end of July. […]
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As the wealthy retrench amid the coronavirus crisis, low-wage workers take the hit 26.6.2020 LA Times: Health

The COVID-19 pandemic has caused richer consumers to pull back on spending, and that has deepened the recession for low-wage service workers.

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It’s Time to Nationalize the Fossil Fuel Industry 26.6.2020
We must institute public ownership of the fossil fuel industry to avert catastrophe, says economist Robert ...
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Fed acts to keep banks 'prudent' amid virus risks 26.6.2020 BBC: Business
The Federal Reserve has warned that big US banks risk losses of $700bn in a severe downturn.
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