Economics

Another 2.1M Unemployment Claims Filed

On Thursday, the federal Department of Labor reported yet another unfathomable pile of claims, this one from the week ending May 23: 2.123 million...

R. Cort Kirkwood May 30, 2020

Unemployment Claims Close to 40M After Another 2.4M File

R. Cort Kirkwood May 21, 2020

The week ending May 16 added another 2.4 million to the unemployment rolls, a decrease from the previous week but one that raised...

3M More File for Unemployment; Total Nears 37M

R. Cort Kirkwood May 14, 2020

Unemployment claims declined for the week ending May 9, but the number of Americans now jobless thanks to the coronavirus lockdowns has continued...

While Money Is “Free,” Pelosi and Schumer Want to Spend More

Bob Adelmann May 11, 2020

House and Senate Democrats are proposing to spend even more money they don’t have in another round of stimulus payments. ...

Frustrated Tesla Founder Elon Musk Threatens to Move Out of California

Bob Adelmann May 11, 2020

Elon Musk is likely taking a page out of Trump's workbook, pressuring county officials to reconsider their decision to keep his plant closed. ...

Nearly 34M Unemployment Claims Filed Since March 1

R. Cort Kirkwood May 7, 2020

Though new unemployment claims are dropping week-to-week, they still number in the millions and continue to show the devastating blow from the Chinese...

Jobless Claims Pass 30M, Almost 10 Percent of U.S. Population

R. Cort Kirkwood May 4, 2020

The economy took another massive hit the week ending April 25: Another nearly four million Americans filed for unemployment. ...

Coronavirus Impacts Food Production; Lockdowns Reduce Demand for Milk, Produce

Warren Mass April 28, 2020

Some people worry our nation’s food supply chain is starting to break, with meat-packing plants closing and farmers plowing under crops that there...

Mnuchin: Spending Trillions of Dollars on Coronavirus Relief Will Cause Economy to “Bounce Back”

Warren Mass April 27, 2020

Treasury Secretary Steven Mnuchin said that the “trillions of dollars” the government is spending on coronavirus relief packages will cause the economy to...

Another 4.4 Million File for Unemployment, Total Since March 1 Nearing 27M

R. Cort Kirkwood April 23, 2020

The grim news on the American job market kept coming this morning with the U.S. Labor Department’s announcement that another 4.42 million Americans...

Number of Unemployed Jumps 25 Percent to 7M; Rate Now 4.4 Percent

R. Cort Kirkwood April 3, 2020

The Bureau of Labor Statistics has announced another of the grim societal sequelae of the Chinese Virus: The number of unemployed Americans jumped...

Goldman Sachs Predicts 24% GDP Drop; It’s Not All Bad News

Bob Adelmann March 22, 2020

Though Goldman Sachs is predicting a GDP drop of close to 25 percent, when all is said and done, and the virus has...

Federal Reserve Lowers Funds Rate to Zero, Citing Coronavirus Impact

Warren Mass March 16, 2020

The Federal Reserve cited “the coronavirus outbreak,” which has “disrupted economic activity in many countries” as its reason for lowering the federal funds...