User: newstrust Topic: US Economy
Category: Recession
Last updated: Jul 08 2020 01:16 IST RSS 2.0
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Noam Chomsky explains why the ‘neoliberal doctrine’ has intensified the deadly effects of COVID-19 7.7.2020 Raw Story
Neoliberalism has been blamed for a variety of problems in the world, from rising income inequality to the lingering effects of the Great Recession. And according to left-wing author/professor Noam Chomsky, neoliberalism has also made the coronavirus pandemic deadlier than it had to be. In an interview with journalist Elena Matsiori for the English-language edition […]
Is the COVID-19 pandemic cure really worse than the disease? Here’s what our research found 7.7.2020 Raw Story
The Research Brief is a short take about interesting academic work. The big idea The coronavirus pandemic catapulted the country into one of the deepest recessions in U.S. history, leaving millions of Americans without jobs or health insurance. There is a lot of evidence that economic hardship is associated with poor health and can increase […]
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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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Economics columnist says this chart proves the economy is ‘so much worse’ than anyone realizes 2.7.2020 Raw Story
Economics columnist Catherine Rampell wrote in the Washington Post Thursday that she sees a ticking timebomb ready to explode on the American economy. It was revealed that the U.S. was able to add 4.8 million payroll jobs in the month of June, but there’s a question of whether those jobs were merely people who were […]
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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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Germany assumes EU presidency as Merkel pushes for massive bloc-wide recovery plan 1.7.2020 Raw Story
Germany takes over the European Union’s six-month presidency Wednesday, with outgoing Chancellor Angela Merkel staking her legacy on a massive economic recovery plan to help the bloc cope with the coronavirus fallout. Merkel‘s last major role on the international stage comes as the 27-member club faces its deepest recession since World War II, triggered by […]
Here is how ‘Modern Monetary Theory’ could save the American economy 1.7.2020 Raw Story
Stephanie Kelton has found herself at the center of a blossoming debate over a provocative economic idea known as Modern Monetary Theory (often called MMT) — a theory that seeks to flip much conventional economic wisdom on its head. As one of the foremost advocates and articulators of the theory, she has just come out […]
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As coronavirus cases surge in the Sunbelt, so do signs of a new round of layoffs 30.6.2020 Chicago Tribune: Business
Reclosings are complicating prospects for a enduring economic recovery from the sudden and deep U.S. economic downturn. In a worst-case scenario, economists at IHS Markit warn, after a brief rebound, the economy could slip back into recession by the end of the year.
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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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The US entered a recession in February — but Trump has one thing still going for him 25.6.2020 Raw Story
Two of President Donald Trump’s economic advisers are leaving in June. The news came just after the National Bureau of Economic Research, which identifies economic downturns, announced earlier this month that February is the moment the recession began. It has been a key month in the coronavirus crisis that Democrats criticize President Donald Trump on […]
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Hope in the Time of Coronavirus 25.6.2020 The Moderate Voice

The coronavirus pandemic continues to take a horrendous human and economic toll on our society and on our economy.

No aspects of our society and economy have been spared. The charity and non-profit sectors have been especially hard-hit and this at a time when the essential functions these organizations provide to the poor, the hungry, the sick and the dying are needed more than ever.

The post Hope in the Time of Coronavirus appeared first on The Moderate Voice.

Two of Trump’s economic advisers have left this month — while US is in a recession 25.6.2020 Raw Story
The Washington Post reported that a second economic adviser has left the White House this month while the U.S. is facing a recession. The National Bureau of Economic Research that identifies downturns announced earlier this month that February is when the moment began. It has been a key month in the coronavirus crisis that Democrats […]
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