-
More than 2.9 million Americans applied for unemployment benefits last week as the coronavirus crisis put more than 36 million people out of work in two months, according to new data. That means the pandemic has sidelined roughly 23 percent of the American labor force as it put the US economy into a deep freeze. …
-
U.S. unemployment hit 14.7 percent in April amid the coronavirus pandemic, the highest unemployment rate since the Great Depression. The Bureau of Labor Statistics (BLS) reported Friday that the country lost 20.5 million jobs in April, “with particularly heavy job losses in leisure and hospitality.” The 10.3-point increase the unemployment rate from March to April …
-
The coronavirus has the US economy coughing up a lung. The nation lost a record 20.5 million jobs in April as the pandemic caused the worst economic crisis since the Great Depression, the feds said Friday. The mass layoffs sent the unemployment rate up to 14.7 percent — the highest ever recorded since the government …
-
The Department of Labor revealed Thursday that an additional 3.2 million Americans filed new jobless claims last week, bringing the total number of Americans seeking unemployment benefits to over 33 million since mid-March. The data aligned with predictions from economists, who expected 3 million new claims for the week ending May 2, and suggested numbers …
-
A group of GOP Senators is asking President Trump to ramp up his recent “pause” on immigration to include a prohibition on guest-worker visas, citing rising levels of American unemployment amid the coronavirus pandemic. Senator Tom Cotton (R., Ark.), joined by Senators Josh Hawley (R., Mo.), Ted Cruz (R., Texas), and Chuck Grassley (R., Iowa) …
-
The coronavirus pandemic is plunging the European Union into a recession, the European Commission said Wednesday in its spring economic forecast. Predicting a “recession of historic proportions,” the commission warned that the Eurozone economy will contract by 7.5 percent in 2020 — a record number that surpasses the damage caused by the 2009 financial crisis. …
-
The COVID-19 pandemic can be used to illustrate two problems that are both more destructive than the virus. The problems relate to how Americans view the role of government in their lives and to the belief that government money can always fix problems. Let’s Look at the Money Issue First The immediate reaction of our …
-
Private payrolls dropped by more than 20 million in April as the economy ground to a halt due to lockdown orders that caused businesses to close their doors and hemorrhage employees. U.S. companies lost a total of 20,236,000 jobs last month, according to data released Wednesday by the ADP Research Institute. The total easily beats the …
-
Senate Republicans expressed skepticism of President Trump’s proposal of a payroll tax cut for the next coronavirus relief bill, citing litigation protection as a much higher priority. “Right now, not much,” Senate Finance Committee Chairman Chuck Grassley (R., Iowa) told Politico when asked what he thought of the president’s proposal. “I’m going to give it …
-
The Trump administration on Tuesday revealed it is considering a capital gains tax cut as well as other tax-cut proposals as part of a future coronavirus relief bill. President Trump and his allies are also pushing for liability protection for businesses affected by the coronavirus pandemic. “Well run States should not be bailing out poorly …
More than 2.9 million Americans applied for unemployment benefits last week as the coronavirus crisis put more than 36 million people out of work in two months, according to new data. That means the pandemic has sidelined roughly 23 percent of the American labor force as it put the US economy into a deep freeze. …
