For the past five years, Mia Marino’s job as a clothing store manager has provided her with “really great” raises that helped her buy a […]
Year: 2020
Macy’s to start furloughing most employees amid coronavirus-related store closures
Macy’s said the majority of its employees will be furloughed beginning this week as it copes with significant sales losses during the coronavirus pandemic. The […]
U.S. set to lose title as top oil producer as demand plunges and gas drops below $1 per gallon
The oil market is in free fall, with one benchmark price hovering around $20 a barrel, and the national average price of gas dipping below […]
Coronavirus job losses could total 47 million, unemployment rate may hit 32 percent, Fed estimates
Millions of Americans already have lost their jobs due to the coronavirus crisis — and the worst of the damage is yet to come, according […]
In California, confusion over what businesses qualify as ‘essential’
After most businesses in California were closed under a “Stay at Home” order by Gov. Gavin Newsom on March 19 to prevent the spread of […]
Trump’s trade war exacerbated shortage of medical equipment
Hospital workers on the front lines of the fight against coronavirus are reporting dangerous shortages of supplies such as masks and gloves. Trade experts accuse […]
Stocks fall as questions rise over passage of $2 trillion economic relief package
Stocks tanked on Friday as the fate of the $2 trillion economic relief package suddenly came into question overnight. The Dow Jones Industrial Average fell […]
Out of work due to coronavirus shutdowns? How to file for unemployment benefits
The record-shattering spike in unemployment filings this week means a surge in Americans seeking assistance as the coronavirus pandemic triggers businesses to initiate layoffs and […]
What should you do with your stimulus check? The experts weigh in.
Consumers should spend their direct cash payment portion of the $2 trillion coronavirus aid package passed by the Senate on basic essentials — or put […]
Stock market attempts a rally, amid record-shattering unemployment figures
Wall Street attempted a rally Thursday morning, despite record-breaking unemployment claims that revealed the extent to which the economy has ground to halt due to […]
More than 3 million Americans filed for unemployment claims last week
More than 3 million Americans filed for unemployment last week, according to new data released Thursday. The massive spike in new jobless claims comes as […]
‘We may well be in a recession’
Federal Reserve Chairman Jerome Powell acknowledged that the coronavirus pandemic is putting unprecedented strain on the U.S. economy but said, “there can be a good […]
With sports events shelved and consumers in lockdown, the advertising industry is in free fall
As companies across the world try to figure out the economic ramifications of the coronavirus, the advertising business is suddenly in free fall. With the […]
Wall Street slowly digests details of long-awaited fiscal stimulus plan
Markets slowly kicked into action Wednesday morning, as investors parsed whether the $2 trillion stimulus package would be able to keep pace with the compounding […]
Will the airline industry get its $25 billion bailout?
Reports that Congress has reached a deal on a $2 trillion stimulus bill that would include $25 billion in grants to help airlines pay their […]