Coming February 6, 2024 . . .
MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop
Coming February 6, 2024 . . . MURDER, POLITICS, AND THE END OF THE JAZZ AGE by Michael Wolraich Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop |
Jobless claims now exceed 16 million as shutdowns from the coronavirus pandemic widen and problems with getting benefits persist.
By Patricia Cohen & Tiffany Hsu @ NYTimes.com, April 9
With the coronavirus outbreak shutting businesses in every state, fresh evidence of the economic devastation was delivered Thursday as a government report showed that 6.6 million more workers had lost their jobs.
The Labor Department announcement, reflecting last week’s filings for unemployment benefits, meant that more than 16 million people had been put out of work in just three weeks, an unheard-of figure. Two years of job losses from the last recession produced barely half that total.
Many economists say the actual job losses so far are almost certainly greater, and there is wide agreement that they will continue to mount.It’s as if “the economy as a whole has fallen into some sudden black hole,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics
The Federal Reserve redoubled its effort to break that fall on Thursday with an ambitious plan to help companies and state and local governments gain access to funding. The Fed said its new and expanded programs could pump $2.3 trillion into the economy.
The central bank’s intervention was welcomed in financial markets, with the S&P 500 stock index ending the day with a gain of almost 1.5 percent.
But additional relief from Washington hit a Senate roadblock over what to include. Republicans have proposed $250 billion to replenish a loan program for distressed small businesses, while Democrats want $250 billion more to assist hospitals and state and local governments dealing with coronavirus-related expenses and revenue shortfalls [....]
Comments
by artappraiser on Thu, 04/09/2020 - 9:22pm
by artappraiser on Thu, 04/09/2020 - 9:23pm
by artappraiser on Thu, 04/09/2020 - 10:16pm
California paying pretty decent unemployment checks until July!
Edit to add: of course, remember that rents there mostly cost a fortune.
by artappraiser on Fri, 04/10/2020 - 12:09am
by artappraiser on Fri, 04/10/2020 - 3:08am