Sandi Bochum Source: Donna Aceto Eight weeks after Sandi Bochum applied for unemployment benefits in New York, she’s still waiting for a check. The 75-year-old video journalist’s income has dried up, thanks to the coronavirus pandemic, which has prevented her from getting on the subway or an airplane to shoot events. “I’m completely paralyzed,” said Bochum, […] More
Normally bustling Lincoln Road Mall in Miami Beach, Florida, is seen nearly empty on May 8, with most businesses closed due efforts to contain Covid-19. Joe Raedle/Getty Images Florida residents are growing increasingly frustrated by the state’s lag in paying unemployment benefits — a drama unfolding as home and rental evictions may soon begin anew. States […] More
Richard Cordray, former director of the Consumer Financial Protection Bureau and author of “Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy” Congress provided borrowers a lifeline when it passed the CARES Act. Whether it will deliver significant relief to consumers remains to be seen. The $2.2 trillion coronavirus relief bill […] More
US Treasury Refund Check Thomas Winz Millions of Americans have received their federal stimulus checks in the past four weeks. The IRS has updated its data on just how much emergency relief has been sent. And it shows which states received the most money. Congress gave the green light through the Cares Act for the […] More
In April, two million Canadians and more than 20 million Americans lost their jobs as the COVID-19 pandemic ground the economy to a halt. Our weekend business panel discusses the numbers and the challenges ahead. More
People walk along Broadway as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City. The Bureau of Labor Statistics announced on Friday that the US economy lost 20.5 million jobs in April. This is the largest decline in jobs since the government began tracking the data in […] More
NEW YORK: Wall Street stocks rallied Friday as investors shrugged off historically bad jobs data in anticipation of better times as the economy relaunches from coronavirus shutdowns. The Dow Jones Industrial Average piled on more than 450 points, or 1.9 percent, to finish at 24,331.32. The broad-based S&P 500 rose 1.7 percent to 2,929.80, while […] More
Govts have no choice but to fill the gap in revenue and income and it will have a long-term effect on public debt, says Bruno Verstraete, partner. How are you looking at the US job loss numbers? We are seeing that even the WHO has said that this is the worst show that we have […] More
There’s no better time to think about next year’s taxes than right after you file this year. Jayme Thornton | Tooga Productions | Getty Images There’s still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly. But that window is closing, the IRS said on Friday. […] More
You might be wondering why the stock market is doing so well when you’re doing so badly. Even if you’re coasting, you likely know people who are struggling. The reality is, small-town America doesn’t go under the lens of Wall Street, says Walid Petiri, owner of Financial Management Strategies, an advisory firm in Baltimore. Certain […] More
JOBS REPORT Millions of laid-off Americans didn’t actively search for new jobs in April, so they weren’t included in the official unemployment statistics. By Annalyn Kurtz, Tal Yellin and Byron Manley, CNN BusinessPublished May 8, 2020 The American job market whipsawed from historically great to historically terrible in just two months. As businesses closed in […] More
WASHINGTON: The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses reflect what has become a severe recession caused by […] More
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