User: newstrust Topic: US Economy
Category: Recession
Last updated: Jul 03 2020 09:16 IST RSS 2.0
 
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Latest Colorado budget forecast has good news — but still gives lawmakers reasons for worry 20.6.2020 Denver Post: All Political News
Colorado received good fiscal news Friday for the first time in months: The immediate budget crisis set in motion by the coronavirus pandemic is suddenly a bit less dire.
EU leaders tackle huge virus recovery plan 19.6.2020 Raw Story
EU leaders launched fraught negotiations Friday, deeply divided over how to raise and then distribute a major recovery fund to revive a European economy ravaged by the coronavirus pandemic. Europe faces its biggest recession in the bloc’s 63-year history, and states are under pressure to look beyond their own borders and to find ways to […]
Post-COVID Economy May Have More Robots, Fewer Jobs and Intensified Surveillance 17.6.2020 Truthout.com
Millions who lost their jobs will not be reabsorbed into the labor force as technology takes over their former ...
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GOP’s Ron DeSantis ‘shooting himself in the foot’ on COVID-19 — and Floridians already regret trusting him to reopen 16.6.2020 Raw Story
Florida Gov. Ron DeSantis delayed locking down his state and was then among the first to reopen, and residents are losing trust in his leadership as coronavirus cases spike after the shutdown ended. The state’s cases are hitting new records on a near-daily basis and, even more ominously, the percentage of positive cases has been […]
We Need a Green New Deal to Confront the Economic Crash and Climate Crisis 15.6.2020 Truthout.com
Our post-pandemic world needs not recovery but rebuilding with a vision of racial, environmental and climate ...
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Banking collapse promises to make the widespread financial misery caused by coronavirus even worse: Economist 12.6.2020 Raw Story
Millions of Americans suffered long-term financial pain because of the Great Recession and the crash of September 2008. Now, the coronavirus pandemic is inflicting additional pain on millions of Americans, and UC Berkeley law professor Frank Partnoy — in a sobering article for The Atlantic’s July/August 2020 issue — warns that another banking crisis is a strong […]
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Black Lobbyist Accuses Joy Reid And Don Lemon Of 'Killing More Black People' Than The KKK 12.6.2020 Crooks Liars
Reynard Jackson is a shameless Republican consultant whose presence in the White House yesterday was to soothe Donald Trump's ego while stoking the hate fires outside. Yes, that's right. The African American lobbyist and author of a column entitled "This is Why I Hate Black Republicans" piped up during a round table about race relations yesterday with this chorus of hate for Black journalists while singing praise and showering glory on Donald Trump. "So you got radical liberal journalists, like Joy Reid from MSNBC, Don Lemon from CNN, Roland Martin, who are putting more poison into the Black community than any drug dealer, show are killing more Black folks than any white person with a sheet over their face," Reynard accused. WOW. What an indictment. What could Reid, Lemon and Martin have said to justify an accusation like that? Speaking directly to Trump, Reynard said, "Spreading those lies about the economy you had, Mr. President, before the virus, was the continuation of Obama. That's just factually ...
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Federal Reserve predicts years of high unemployment rates and economic uncertainty 11.6.2020 Chicago Tribune: Business
The sober projections, the Fed’s first estimates of 2020, depicted a very different economic path from the quick “V-shaped recovery” that President Donald Trump has suggested is underway. From nytimes.com.
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1.5 million new unemployment claims — a high number of layoffs, but 10th straight weekly decline 11.6.2020 Chicago Tribune: Business
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week. In Illinois, 44,814 people filed initial claims for jobless benefits in the week ended June 6, a slight decline from the week before.
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Federal statistics show unemployment dropping despite coronavirus job cuts. Take a closer look at the numbers. 9.6.2020 Chicago Tribune: Business
The June jobs report, to be released early next month, will be a critical test of the potential recovery’s strength.
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Cripple Creek casinos to begin reopening June 15 9.6.2020 Headlines: All Headlines
Casinos in Cripple Creek can begin reopening in a limited capacity on June 15 after regulators approved a variance to the state's safer-at-home guidelines submitted by Teller County.
‘The only thing Trump doesn’t want his name on’: President mocked after #TrumpRecession trends nationwide 9.6.2020 Raw Story
According to The New York Times this Monday, the National Bureau of Economic Research announced that the United States entered into a recession in February, long before the economic downturn that was triggered by the coronavirus lockdowns. The news added a new dynamic to the debate over the economy, causing many of President Trump critics on […]
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Coronavirus disparity, George Floyd protests spotlight chronic economic racial gap: Black Americans have 10 cents in wealth for every $1 whites own 9.6.2020 Chicago Tribune: Business
Despite big pledges and high hopes, economic progress has come slowly, if at all, for black America. African Americans still earn barely 60 cents for every $1 in white income.
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Left out: More workers now losing hope of getting back jobs 9.6.2020 Chicago Tribune: Business
Even as the U.S. economy begins to flicker back to life, the scope of the devastation left by the viral pandemic has grown distressingly clear to millions who'd hoped for a quick return to their jobs: They may not be going back anytime soon.
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It’s official — data shows the US entered a recession in February while Trump pretended all was well 8.6.2020 Raw Story
After months of watching the economic situation in the United States amid the coronavirus crisis, it has become clear that the United States entered a recession in February. The New York Times reported Monday that the National Bureau of Economic Research that identifies downturns announced that February is when the moment began. It has been […]
It’s official: US recession began in February, ending record-long expansion 8.6.2020 Chicago Tribune: Business
“The unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession, even if it turns out to be briefer than earlier contractions,” the economist panel said.
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Jim Cramer: Coronavirus pandemic triggered ‘one of the greatest wealth transfers in history’ 6.6.2020 Raw Story
CNBC‘s Jim Cramer said Thursday that that coronavirus pandemic has triggered “one of the greatest wealth transfers in history.” The remark from the network’s “Mad Money” host came amid “ominous” economic data but a rebounding stock market. “How can the market rebound without the economy? Because the market doesn’t represent the economy; it represents the future of big […]
Trump may come to regret his big celebration of a small dip in unemployment 6.6.2020 Raw Story
Though the unemployment rate remains in the double-digits, the official unemployment numbers are slightly lower than economists expected, prompting self-congratulations by President Donald Trump. This article first appeared in Salon. But experts say celebration is premature. Indeed, the Bureau of Labor Statistics reported that the unemployment rate fell from 14.7 percent in April to 13.3 percent […]
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Opinion: Record-breaking increase in jobs? Sure, but the economy is still reeling 6.6.2020 LA Times: Opinion

When the government reported a record-setting number of hires Friday, it was the not-so-miserable outcome of a lot of people having lost their jobs.

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Employment Jumps 2.5 Million in May, as Unemployment Falls to 13.3 Percent 5.6.2020 Truthout.com
Employment Jumps 2.5 Million in May, as Unemployment Falls to 13.3 Percent
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