Unemployment claims remain high at 712,000 as COVID-19 pandemic escalates
The number of Americans applying for unemployment benefits fell last week to a still-high 712,000, the latest sign that the U.S. economy and job market remain under stress from the intensified viral outbreak.
IRS admits to erroneously sending $34M in COVID-19 stimulus funds overseas
The IRS acknowledged that it was responsible for sending $34 million worth of COVID-19 stimulus checks to ineligible people living outside of the United States.
Work in paradise: Hawaii offering incentives to remote workers who move to state
Hawaii’s new Movers and Shakas program hopes to attract talented individuals to the islands to work remotely, forging an economy resilient to economic downturns like the one triggered by the COVID-19 pandemic.
Biden unveils economic team at critical moment for recovery
President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic.
McConnell says 'no reason' coronavirus relief shouldn't pass by year's end
Lawmakers have just weeks to reach terms on an agreement before Congress adjourns for the year on Dec. 21.
Coronavirus aid, federal funding remain unresolved as Congress returns
Congress is returning to Washington for one last attempt at deal-making this year.
Black Friday crowds thin amid surging COVID-19 pandemic as retailers push online sales
In normal times, Black Friday is the busiest shopping day of the year, drawing millions of shoppers eager to get started on their holiday spending. But these are not normal times.
Absent new stimulus, wealthy pay off credit cards, while others dive deeper into debt
Credit cards reveal yet another example of the “K-shaped recovery” wherein high earners are recuperating, or even increasing their wealth during the economic downturn, and lower income earners are flailing.
Small Business Saturday more critical this holiday season amid coronavirus pandemic
Sandwiched between Black Friday and Cyber Monday is Small Business Saturday, a national initiative to shop local and break away from large box stores. However, this year shoppers will notice a few changes because of COVID-19.
US economy sprints toward normal in 2021 but with coronavirus scars
With the help of COVID-19 vaccines and, possibly, more government relief, the U.S. economy may return to normal by the second half of next year.
1 in 10 Americans did not have enough food to eat last week, according to the US Census Bureau
As people continue to lose jobs in a crippled economy during the ongoing COVID-19 pandemic, the uncertainty of providing food for a full household only adds to the stress.
Oklahoma organization offering $10K if you move to Tulsa for remote work
Tulsa Remote is an incentive program offering $10,000 to out-of-state remote workers who move to Oklahoma.
Unemployment claims rise to 778,000 as COVID-19 pandemic worsens
The number of Americans applying for unemployment benefits rose last week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks.
RadioShack gets another shot, this time with e-commerce
RadioShack has been pulled from the brink of death, again. Entrepreneur investors Alex Mehr and Tai Lopez scooped up the brand this year and plan to make RadioShack competitive again — this time online.
Dow crests 30,000 points on vaccine hopes, Biden transition
The Dow Jones Industrial Average traded above 30,000 points for the first time on Nov. 24 as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.
Economists urge Congress to send out second round of $1,200 stimulus checks
A group of more than 125 economists is calling on Congress to send out more direct cash payments to American families to help them weather the coronavirus pandemic and subsequent economic downturn.
Guitar Center files for Chapter 11 bankruptcy amid ongoing COVID-19 pandemic
Guitar Center has filed for Chapter 11 bankruptcy, citing financial hardships due to the ongoing COVID-19 pandemic.
UK signs trade deal with Canada to prepare for Brexit
The U.K. has signed an interim trade deal with Canada to give the government more time to negotiate future trading rules as it prepares the country for business life outside the European Union.
Unemployment claims increase to 742,000 as COVID-19 cases surge
The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the economy and forcing more companies to cut jobs.
Stock market comeback on pause amid coronavirus surge
The numbers underscore how the coronavirus pandemic is worsening and threatening to drag the economy lower, at least in the near term.