Some lost jobs will never come back.Jun 23, 2020 - Economy & Business
And working parents could hugely benefit.Jun 16, 2020 - Economy & Business
Say goodbye to snack jars and office gyms.Jun 16, 2020 - Economy & Business
Millions of businesses might not survive — and many of the tens of millions of jobs they support could evaporate.May 23, 2020 - Economy & Business
A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.
Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.
Interest rates will stay near zero for the foreseeable future, Federal Reserve chairman Jerome Powell said on Thursday.
Why it matters: It staves off concerns that the central bank is eyeing pulling back on its easy money policy if the economy recovers faster than anticipated.
More than 1.4 million Americans filed for jobless claims last week — a figure that includes first-time filings for regular state unemployment and another program for non-traditional workers.
Why it matters: It’s another surge in the number of Americans applying for unemployment benefits, an additional sign the labor market is facing more strain as the coronavirus continues to ravage the country.
Power will move from Wall Street to Washington over the next four years. That's the message being sent by President-elect Biden, with his expected nomination of Wall Street foe Gary Gensler as the new head of the SEC, and also by Sherrod Brown, the incoming head of the Senate Banking Committee.
Why it matters: Biden is going to attempt to chart an economic policy that's visibly to the left of Bill Clinton and Barack Obama. If he succeeds, it's going to show up not only in taxes and spending, but also in regulation.
Over the last year, jobs that we never considered dangerous have turned into hazardous occupations.
Why it matters: Millions of Americans are finding themselves on the front lines of crises that they didn't see coming — and they're often not trained, or paid enough, to be there.
The enormous task of distributing the vaccine across America is leading to a spike in pharmacy job openings.
By the numbers: Pharmacy job postings were up 9.7% in December compared with December 2019 levels, according to data from the jobs site Indeed.
The labor market recovery came to a screeching halt in December, and the few data points that look promising for some of the most vulnerable working Americans are actually deeply troubling upon further inspection.
Driving the news: The recovery was interrupted as the coronavirus raged and the government was slow to move on fiscal support.
More than 1 million Americans filed for unemployment benefits for the first time last week, even as new applications for the Pandemic Unemployment Assistance program fell to their lowest level since March.
State of play: The $900 billion stimulus bill passed by Congress at the end of December extended the PUA program through at least March but also added a new verification process that forces applicants to reapply in order to reduce fraud.
The U.S. economy shed 140,000 jobs in December, while the unemployment rate held at 6.7%, the government said on Friday.
Why it matters: The job market recovery that had been underway for the past seven months ended last month, buckling from the pressure of the coronavirus pandemic.
The ADP private payrolls report showed U.S. employers cut 123,000 non-government jobs in December, the first net job loss since April.
Why it matters: There are still 10 million more unemployed Americans than there were in February and the report suggests a weak job climate could persist, despite recent relief efforts from Congress.