Some lost jobs will never come back.Jun 23, 2020
And working parents could hugely benefit.Jun 16, 2020
Say goodbye to snack jars and office gyms.Jun 16, 2020
Millions of businesses might not survive — and many of the tens of millions of jobs they support could evaporate.May 23, 2020
The tightening labor market is opening up new opportunities for American workers over age 50.Feb 12, 2020
The traditionally mobile young are hemmed in by housing costs.Dec 31, 2019
Coronavirus lockdowns and the grand work-from-home experiment killed the business travel industry — and, just like everything else, it's not going back to normal anytime soon, if at all.
Why it matters: Traveling for work is a $1.5 trillion industry that encompasses transportation, hospitality and much more, and this moratorium is threatening countless firms and jobs.
The Paycheck Protection Program (PPP) has left much to be desired for needy small businesses around the U.S., and the overwhelming majority of recipients are about to exhaust their funding and may start laying off employees.
Why it matters: The PPP has been derided by some economists and researchers as inefficient and ineffective, but a new Goldman Sachs survey shows that even for the businesses and employees it helped, it has not been enough.
Apple announced Monday that it is allocating $400 million toward affordable housing and homeowner assistance programs in California this year, as part of the $2.5 billion commitment announced in November.
Why it matters: The housing crisis has worsened in the wake of the coronavirus pandemic, forcing states and cities to pause spending on affordable housing projects.
This week, United Airlines warned 36,000 U.S. employees their jobs were at risk, Walgreens cut more than 4,000 jobs, it was reported Wells Fargo is preparing thousands of terminations this year, and Levi's axed 700 jobs due to falling sales.
Why it matters: We have entered round two of the jobs apocalypse. Those announcements followed similar ones from the Hilton, Hyatt, Marriott and Choice hotels, which all have announced thousands of job cuts, and the bankruptcies of more major U.S. companies like 24 Hour Fitness, Brooks Brothers and Chuck E. Cheese in recent days.
Heartland cities are looking to take advantage of young professionals' sudden willingness to change addresses.
Another 1.3 million Americans applied for unemployment benefits last week, the Labor Department said Thursday.
Why it matters: The number of new unemployment applications has fallen steadily since peaking in March, but the number is still historically higher than before the pandemic hit. Economists are watching the weekly gauge for any sign that spiking unemployment may come alongside the sharp uptick in coronavirus cases around the country.
Six of Joe Biden's former 2020 rivals — and other top Democrats — are barnstorming the airwaves and virtual campaign trail in crucial states this week to pitch a new economic recovery plan he released Thursday, called "Build Back Better."
Why it matters: Biden outperforms President Trump on every issue except for the economy, according to a Pew Research poll of 4,000 adults last month.
As the coronavirus poses risks and concerns for the youngest and oldest Americans, the generations in the middle are buckling under the increasing strain of having to take care of both.
Why it matters: People that make up the so-called sandwich generations are typically in their 30s, 40s and 50s, and in their prime working years. The increasing family and financial pressures on these workers means complications for employers, too.
United Airlines warned its employees on Wednesday of furlough notices going out to 36,000 employees, or about 45% of its U.S. workforce, by October, according to a company memo obtained by Axios.
Why it matters: Demand for air travel has plummeted amid the coronavirus pandemic. Despite a slight rebound from its lows in April, United's scheduled capacity for July is down 75% compared to the same time last year, per the memo. It expects scheduled capacity for August to be down 65% compared to last year.
Thursday's jobs report from the Labor Department showed the U.S. added nearly 5 million jobs in June, leaving 17.8 million people unemployed, but the Labor Department also reported that more than 31 million people were receiving unemployment benefits and an additional 6 million had applied as of June 27.
What happened: The CARES Act allowed for Americans who would not typically be eligible for unemployment assistance to qualify for benefits under the Pandemic Unemployment Assistance (PUA) program, including part-time workers and the self-employed.