U.S. economy shrank at record-breaking 33% last quarter, as 1.4M sought unemployment aid last week
“The job market, the most important pillar of the economy, has been severely damaged. Tens of millions of jobs vanished in the recession.” ...
Posts Tagged ‘economy’
European Union leaders agree on 1.82 trillion euro ($2.1 trillion) budget and coronavirus recovery fund
EU designates 750 billion-euro COVID-19 recovery fund to help member states mitigate economic crash ...
Another 4.4m filed for unemployment last week
At least 4.4m workers claimed unemployment benefits for the first time in the week ending April 18.
Unemployment Insurance Weekly Claims
Initial claims were 4,427,000 for the week ending 4/18 (-810,000).
Insured unemployment was 15,976,000 for the week ending 4/11 (+4,064,000).https://t.co/ys7Eg5LKAW
— US Labor Department (@USDOL) April 23, 2020
The numbers of ...
Why “reopening” the economy won’t save the economy
A large majority of people surveyed say they are concerned that restrictions on social distancing will be lifted too soon. Even before cities and states issued stay at home orders, people were avoiding restaurants and other crowded places, according to Matthew Iglesias of Vox. There's no reason to think that "reopening" the economy is ...
In coronavirus shutdown, Britain will pay self-employed people 80% of average monthly profit
Wouldn't it be amazing if the United States did this?
Britain’s finance minister Rishi Sunak said Thursday all self-employed citizens will receive a taxable grant of 80% of their average monthly profits as part of the government’s coronavirus response plan.
From Reuters:
“The government will pay self-employed people who have been adversely affected by the coronavirus ...
Dow jumps over 11% in largest one-day gain since 1933
Today, the Dow Jones Industrial Average experienced its largest gain in a single day since 1933.
From the Wall Street Journal:
U.S. stocks rallied sharply Tuesday, with the Dow surging to its biggest one-day gain in more than 85 years on signs that lawmakers and the Trump administration were nearing a deal on a giant stimulus ...
Right-wing websites are weighing the pros and cons of letting people die from coronavirus to help the economy
It's already been reported that Trump is getting antsy about all the social-distancing quarantines intended to flatten the curve of coronavirus deaths, and that he's eager to return things to business-as-normal. Who cares about a million deaths as long as the economy is moving, amirite?
I'm sure his decision has nothing to do with the ...
Dow drops 1,000 over Coronavirus
The Dow Jones Industrial Average plummetted more than 1,000 points as news of a spreading coronavirus outbreak suggests wider coming damage to the global economy.
Today's stock market drop was the worst for the Dow in two years, and wiped out all gains so far in 2020.
Nervous investors scrambled for safety, loading ...
Wuhan virus puts airlines on high alert around the world
Here’s a good explainer from Reuters on the airline industry’s response to the Wuhan coronavirus outbreak so far. If the virus spreads becomes a pandemic, this could impact world financial markets as did SARS in 2003.
SARS killed about 800 people. Since then, people travel by plane even more, and other things have changed in ...
The median household income of each state in the USA
New US Census Bureau data shows that while the median household income for the United States (and 14 states within the USA) increased a bit from 2017 to 2018, "income inequality was significantly higher during the same period for the nation and nine states.... Maryland ($83,242) was among the states with the highest median household ...