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
The number of people looking for work is at historic levels. At the same time, because of shelter-in-place restrictions due to Covid-19, the rules around job hunting have changed. For those who have been laid off, furloughed or edged out of positions amid the coronavirus pandemic, landing a new job will be challenging, yet there are […] More
Record 20.5 million American jobs lost in April. Unemployment rate soars to 14.7% More
Those losses follow steep cutbacks in March as well, when employers slashed 870,000 jobs. Those two months amount to layoffs so severe, they more than double the 8.7 million jobs lost during the financial crisis. For many Americans who lost their jobs and their homes in the 2008 financial crisis, this moment reopens old wounds. […] More
Many would argue that this commentary is injudiciously, or perhaps even insensitively, timed — just when India is seeing a worrying spike in Covid-19 cases, there goes a journalist from a business newspaper wittering on about opening up the economy. We would humbly argue that this is absolutely the right time to ask for unlocking […] More
A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020 in Los Angeles, California. (Photo by Mario Tama/Getty Images) Mario Tama Self-employed workers trying to […] More
The report comes as India enters Day 2 of lockdown 3.0 meant to stem the COVID-19 disease The unemployment rate in the country spiked to an all-time high in April 2020, Mumbai-based think-tank Centre for Monitoring Indian Economy (CMIE) said on Tuesday. The unemployment rate – or the share of jobless people in an economy […] More
A restaurant employee wearing a protective mask poses behind the counter amid the coronavirus pandemic on April 28, 2020 in New York City. Alexi Rosenfeld When it comes to the economic fallout from the coronavirus pandemic, many young professionals are asking, “Will I still have a job?” And no wonder, as 63% of young Americans […] More
President Trump participates in a live May 3 Fox News Channel virtual town hall called “America Together: Returning to Work” about response to the coronavirus pandemic, broadcast from inside the Lincoln Memorial in Washington, D.C. Joshua Roberts | Reuters President Donald Trump is digging in his heels and demanding that further stimulus legislation passed by […] More
A sign is seen at the window of a closed J.Crew store near Rockefeller Plaza on May 4, 2020 in New York City. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images) ANGELA WEISS Jobless workers may be getting a sizable unemployment check as a result of the recently enacted federal […] More
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