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Summary List Placement The Labor Department’s weekly tally of unemployment-insurance filings has reflected inaccurate data throughout the pandemic, and jobless Americans are being underpaid through the benefits program, the Government Accountability Office said Monday. The historic number of unemployed Americans applying for benefits has skewed weekly claims figures for months, the government watchdog said in […]

Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis. Then it was as if the Housing Demographic […]

Summary List Placement The eurozone economy is going to need more monetary and fiscal support to avoid further damage from the coronavirus pandemic, the International Monetary Fund said on Monday. The United States has the highest individual death toll and infection rate from COVID-19, but Europe as a whole is not far behind, with over […]

Summary List Placement Millions of workers could lose access to paid sick and family leave if Congress does not pass another coronavirus relief package by the end of the year, Politico reported on Sunday.  Up to 87 million workers could be stripped of the benefit which lawmakers approved earlier this year, according to the National […]

Summary List Placement Austan Goolsbee, a former top economic advisor to former President Barack Obama, told CNN on Sunday that it was better for Democrats to accept a smaller relief package if it meant getting federal aid out the door faster. Goolsbee, now a professor of economics at the University of Chicago, said many federal […]

Summary List Placement Janet Yellen’s decades of policymaking experience hint at how she will lead the Treasury Department through the US economic recovery. President-elect Joe Biden is reportedly set to nominate Yellen to run the department, making her the first woman to do so. Yellen was already the first woman to serve as a Federal […]

Summary List Placement The race for a safe and effective coronavirus vaccine appears to be bearing fruit nine months into a pandemic that has killed over 257,000 Americans, wrecked the US economy, and dealt a ferocious blow to Hispanic and Black communities suffering higher death rates and job losses.  The nation, though, may be nearing […]

Summary List Placement The pandemic caused a massive drop in employment in the US, with a loss of 22 million jobs between February and April. While additional economic support under the CARES Act has helped some Americans financially during this time of uncertainty, many of the programs supporting workers have expired, and others are set […]

Summary List Placement Disney is laying off some 32,000 people who work for the company in the first half of 2020. In a filing this week with the US Securities and Exchange Commission, The Walt Disney Company said it would be terminating the employment of “approximately 32,000 employees,” primarily at its parks, Variety reported on […]

Summary List Placement John Fetterman, the former mayor of Braddock, was elected lieutenant governor of Pennsylvania in 2018, beating out better-funded opponents. He is not a democratic socialist, although he was a big supporter of Sen. Bernie Sanders, and he doesn’t even like the label of “progressive.” John Fetterman, Pennsylvania’s Democratic lieutenant governor who lives […]

Summary List Placement Have you thought about moving amid the coronavirus pandemic? Is your Instagram feed littered with captions reading “Surprise! We bought a house!” underneath photos of couples posing with sets of keys and whimsically colored front doors? Have you seen unbearably long lines for open houses in your own neighborhood? If it seems […]

Summary List Placement SEE ALSO: Meet the ‘K-shaped’ recession, where professional workers are largely fine and everyone else is doing awful Join the conversation about this story » NOW WATCH: How waste is dealt with on the world’s largest cruise ship details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com

The average U.S. mortgage rate for a 30-year fixed loan remained unchanged at 2.72% this week, Freddie Mac said in a report on Thursday – the second week in a row rates have sat at the lowest recorded level in the survey’s near 50-year history. The average fixed rate for a 15-year mortgage also remained unchanged from last week at 2.28%. […]

Summary List Placement Remote workers are being offered $10,000 to move to Tulsa, Oklahoma, for a year. As part of its Tulsa Remote program, which launched in November 2018, the city is looking for 250 new workers to relocate to the state’s second-largest city. The program aims to help fuel growth in the city. Tulsa […]

Summary List Placement Environment, Social and Governance investing hit the mainstream this year with a wide range of new investment products being launched. It is expected that ESG funds will outnumber conventional funds by 2025, according to PWC. Despite the rise in ESG products, the ‘Social’ element is the most complex to quantify. A BNP […]

Summary List Placement Treasury Secretary Steven Mnuchin is moving $455 billion in unspent stimulus money into a fund that the incoming Biden administration cannot deploy without Congress, Bloomberg reported on Tuesday.  That amount includes money that Mnuchin is yanking from the Federal Reserve and unused loans for companies. The funds will be deposited into the […]

Summary List Placement Sen. Debbie Stabenow, the fourth-ranking Democrat in the upper chamber, urged immediate action on an economic aid package in the lame-duck session of Congress, even if it was a smaller measure to support people and businesses through the winter. The Michigan Democrat said there were discussions going on in a “bipartisan basis” […]

Summary List Placement Alissa Farina rode out the early days of the coronavirus pandemic in her tiny Manhattan studio. But with the inevitable sub-zero temperatures of a Northeast winter made even harsher by looming COVID-19 restrictions on dining, gyms, and social activities, the 24-year-old entrepreneur decided to move south — to save her sanity. When […]

Summary List Placement A report by the global advocacy group Tax Justice Network found that countries lose $427 billion in revenue per year from wealthy individuals and corporations evading taxes. About $245 billion of these losses stem from corporations shifting their profits to “tax-haven” countries where corporate taxes are very low or nonexistent, the report […]

Summary List Placement President-elect Joe Biden has picked Janet Yellen to head the Treasury Department, the Wall Street Journal reported on Monday. If the Senate confirms her, Yellen would be the first woman to be treasury secretary. Biden announced last week he had chosen a treasury secretary, saying it would be “someone who will be […]

Summary List Placement JPMorgan expects the US economy to shrink in the first quarter of 2021 as new lockdown measures cut into economic activity. Economists led by Michael Feroli lowered their first-quarter gross domestic product forecast to -1% on Friday, making JPMorgan the first major bank to call for a contraction at the start of […]

Summary List Placement Goldman Sachs has cut its US growth forecasts for the next two quarters, pegging their gloomier outlook on the “rapid and broad-based resurgence of the coronavirus.” The bank lowered its fourth-quarter gross domestic product forecast to 3.5% from 4.5%. Growth in the first quarter of 2021 will slow to just 1% from […]

Summary List Placement While people may be leaving urban hubs like San Francisco and New York in droves amid the coronavirus pandemic, real estate in ritzy enclaves just outside those cities is more expensive than ever. Mass migration to posh suburbs has pushed up median home prices in California and New York, the two states […]

Summary List Placement Nobel laureate Paul Krugman said President-elect Joe Biden won’t engage in Trump-style boasting and his team won’t be like the “quacks and hacks” that populate the incumbent administration. He expects US growth to boom next year, once a COVID-19 vaccine is widely distributed, but warned Biden shouldn’t become complacent about good news […]

Summary List Placement President-elect Joe Biden is on course to assume office on January 20, but the balance of power in Washington is still unresolved with a pair of Senate runoffs in Georgia just two weeks before Biden’s inauguration.  In one race, Democrat Jon Ossoff is challenging Republican Sen. David Perdue, while Republican Sen. Kelly […]

Summary List Placement Senate Majority Leader Mitch McConnell issued a statement on Friday afternoon supporting Treasury Secretary Steven Mnuchin’s call for Congress to repurpose unspent stimulus money — and backing the Trump administration in its extraordinary clash against the Federal Reserve. McConnell said “there is an obvious right use” for the unused funds. He argued […]

Summary List Placement Amid the coronavirus pandemic, many are ditching giant hubs like New York City and San Francisco and looking to shack up elsewhere. Rapid economic growth plays a key part in what makes up-and-coming cities attractive potential landing spots. WalletHub recently analyzed 515 US cities to identify the locales that experienced the highest levels […]

Summary List Placement Jonathan Spears is one of the top real estate agents in the country and is just 28 years old, with over $600 million in career sales. He manages a team of seven and works primarily in the high-end market in Northwest Florida. His team has more than $121 million in sales this […]

Summary List Placement UK retail sales rose for a sixth month in October, smashing expectations, as some consumers stocked up ahead of lockdowns and others started buying for Christmas, encouraged by stores holding early sales, the Office For National Statistics (ONS) said on Friday. The ONS said retail sales rose by 1.2% in October compared […]

Summary List Placement Treasury Secretary Steven Mnuchin wants to redirect unspent stimulus money into the American economy, he said on Thursday evening. “I hope that Congress will seriously consider reallocating $580 billion of funds that have already been appropriated that wouldn’t cost taxpayers an additional penny,” he told Bloomberg. The pool of funds includes money […]

Summary List Placement The US economy could expand 4.6% in 2021 on the back of huge fiscal spending by President-elect Joe Biden’s administration, according to a note from Ned Davis Research. The successful distribution of a COVID-19 vaccine will serve as a tailwind throughout 2021, but investors should prepare for a weak first half of […]

Summary List Placement Congress needs to act soon if it aims to avoid another bout of economic turmoil, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday. Fears of a double-dip recession are escalating as the US contends with its worst wave yet of COVID-19 infections. Daily case counts continue to hit new records, […]

Summary List Placement Generation Z’s economic power is the fastest-growing around the world, and investors should start preparing for tectonic shifts in consumer preferences, Bank of America strategists said Thursday. Gen Z’s earnings are set to hit $33 trillion by 2030 and account for more than a quarter of all global income. By 2031, the […]

Summary List Placement Despite immense public health and economic challenges, Congress has not approved another coronavirus relief plan and appears unlikely to do so during the lame duck session. Both parties are clashing on spending levels and the contents of a fourth aid package. The United States, meanwhile, is being blanketed by another wave of […]

Summary List Placement After the US economy saw a historic bounceback over the summer, new indicators suggest its ongoing recovery is decelerating. Spiking COVID-19 cases throughout the country already set the stage for a dire winter. The US reported 163,975 new cases on Wednesday, according to The COVID Tracking Project, bringing the nation’s total to […]

Summary List Placement Fears are growing of a COVID-19 “lockdown generation” in Europe: Young people whose futures will likely be ruined by the economic calamity caused by the virus.  In April, unemployment rose four times higher among the young (15.4%) in the European Union (EU) than among the overall population (6.6%), EU data shows. Despite […]

Summary List Placement Thousands of workers at Walmart, McDonald’s, and other stores and fast food chains are on federally-funded social safety net programs to help pay for basic needs like healthcare and food, according to a report by the nonpartisan Government Accountability Office (GAO). Sen. Bernie Sanders of Vermont, who commissioned the report, described the […]

Summary List Placement The Great Recession can’t take all the blame for millennials being financially behind. The financial crisis left the oldest millennials with wealth levels 34% below where they would be if it didn’t occur, and it possibly stagnated the generation’s wages for up to 15 years after graduation, but other factors are at […]

Summary List Placement Chapter 11 bankruptcies hit their highest level since 2010 in the third quarter as lasting damage from the coronavirus pandemic and expiration of fiscal support overwhelmed US businesses. A gauge of Chapter 11 distress among surged roughly 12 points to 81 over the quarter that ended in September, according to a report from […]

Summary List Placement Roughly 300,000 New Yorkers left the city for greener pastures over the last eight months. The New York Post obtained data regarding mail-forwarding requests from the US Postal Service through a Freedom of Information Act request and found that hundreds of thousands of households fled New York City between March 1 and […]

Summary List Placement House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer called on Senate Majority Leader Mitch McConnell Tuesday to restart relief talks on another stimulus package. “For the sake of the country, we ask that you come to the table and work with us to produce an agreement that meets America’s needs […]

Summary List Placement Recent progress on developing coronavirus vaccines is “certainly good news,” but the US economy is still far from returning to pre-pandemic levels of activity, Federal Reserve Chair Jerome Powell said Tuesday. Investors positioned for a sooner-than-expected economic recovery over the past week as data from Moderna and Pfizer and BioNTech’s experimental vaccines […]

Summary List Placement Nearly 300 companies that received up to $500 million in coronavirus-related government loans have filed for bankruptcy, an analysis has found. An analysis of government data and court filings by the Wall Street Journal revealed that 285 American firms that obtained Paycheck Protection Program (PPP) loans in April eventually ran out of […]

Summary List Placement President-elect Joe Biden called on Congress to pass a $3.4 trillion stimulus plan that House Democrats approved earlier this year. He warned of a “dark winter” as recorded virus infections reach new highs, prompting some states and cities to enact new restrictions to thwart the pathogen’s spread. “That requires sparing no effort […]

Summary List Placement Americans spent less at retailers than expected in October as the economic recovery decelerated amid a worsening pandemic. US retail sales gained 0.3% last month, according to the Census Bureau. Economists surveyed by Bloomberg expected sales to increase by 0.5%. The reading also marked an decline from September’s 1.6% increase. The October […]