New York (CNN Business) Another 1.1 million Americans filed initial claims for unemployment benefits on a seasonally adjusted basis last week, dashing economists’ hopes for a second-straight week with fewer than 1 million claims. Economists were optimistic that the US jobs market would be on a steady trajectory toward recovery. […]
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[New York Post, AP] President Trump heaped praise Saturday on the four states that have jumped on his plan to extend extra unemployment benefits to those made jobless by the coronavirus pandemic. “Great work by the Governors of AZ, IA, LA, and NM who responded to my Executive Action and […]
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[The New York Times, AP] Here’s what you need to know: 963,000 filed new state unemployment claims last week, but layoffs remained high. State unemployment offices are still struggling, so the jobless struggle, too. In an industry dependent on gathering crowds, no sign of a return to work. Air travel […]
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[FOX NEWS, Associated Press] BEDMINSTER, N.J. — President Donald Trump signed executive orders Saturday for a deferment on payroll taxes, an extension of unemployment insurance and a moratorium on rental evictions. The president also signed an order that would defer student loans. The “payroll tax holiday” will affect Americans making less […]
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[NBC NEWS] A new study finds more unemployed Californians are starting to lose hope they’ll ever get their old jobs back. Some of those in the latest filings for unemployment have been laid off twice after so many months of COVID closures and researchers say pessimism is setting in. “I’m […]
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[ABC NEWS] The Illinois Department of Employment Security (IDES) is extending the state’s unemployment benefits. Typically unemployed residents seeking benefits are allowed to get unemployment benefits for up to 26 weeks. That was extended to an additional 13 weeks. Now, residents will get an additional seven weeks, for a total […]
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[The Hill] A seasonally adjusted 1.2 million new people applied for unemployment benefits in the week ending Aug. 1, a marked drop from the 1.4 million in the previous two weeks. While this was the 20th week in a row that the Labor Department reported more than 1 million claims […]
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[The Hill] Tax preparers are concerned that many of the millions of Americans receiving unemployment benefits due to the pandemic are unaware that they might owe money to the IRS next year. Jobless benefits are subject to federal income taxes, as well as state income taxes in most parts of […]
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[Global Trade, DepositPhotos] The ongoing COVID-19 pandemic has touched just about every part of the economy, and the jobs market as a whole has gone into alarming freefall, despite the government’s job retention measures. Where are the jobs going? The sectors which have struggled most are, by and large, the ones you […]
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[CNN] New York — The US economy contracted at a 32.9% annual ratefrom April through June, its worst drop on record, the Bureau of Economic Analysis said Thursday. Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting […]
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