Oct 06 Fed Chair Powell says lack of further stimulus 'would lead to a weak recovery' By Christopher Rugaber, Associated Press Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday. Continue reading
Oct 05 Service sector grows for the 4th consecutive month By Martin Crutsinger, Associated Press The index had fallen sharply for three months starting in March as shutdowns aimed at containing the virus closed many businesses and put millions of Americans out of work. But starting in June, the index has resumed rising. Continue reading
Oct 04 Watch 12:35 This multimillion dollar CA ballot measure could decide the future of gig work By Laura Fong This November, Californians will vote on the future of gig work for rideshare and delivery drivers for companies like Uber, Doordash and Lyft. While a new state law categorizes the workers as ‘employees,’ the companies, who have put over $181… Continue watching
Oct 04 Pope: Market capitalism has failed in pandemic, needs reform By Nicole Winfield, Associated Press Pope Francis says the coronavirus pandemic has proven that the “magic theories” of market capitalism have failed and that the world needs a new type of politics that promotes dialogue and solidarity and rejects war at all costs. Continue reading
Oct 02 Watch 7:44 The deeply unequal economic consequences of the pandemic The last jobs report before Election Day showed the smallest monthly gain since May, raising concerns about a slowing and deeply uneven economic recovery. About half the initial 22 million jobs lost to the pandemic have been added back, but… Continue watching
Oct 02 Stock markets sink after Trump tests positive for coronavirus By Associated Press The future contracts for the S&P 500 and the Dow industrials dropped 1.6% and 1.5%, respectively while the price of oil tumbled almost 4%. Continue reading
Oct 02 U.S. hiring slows for 3rd month but jobless rate falls to 7.9 percent By Associated Press With September’s hiring gain, the economy has recovered only slightly more than half the 22 million jobs that were wiped out by the viral pandemic. Continue reading
Oct 01 Watch 8:13 How some older Americans are monetizing their #VanLife By Paul Solman With large parts of the economy still sputtering under the weight of the coronavirus pandemic, many people are having to scale back. But some older Americans were already living a minimalist lifestyle on the road -- and some of them… Continue watching
Oct 01 WATCH: House Minority Leader McCarthy slams Pelosi on COVID-19 relief By Associated Press The White House is backing a $400 per week pandemic jobless benefit and is dangling the possibility of a COVID-19 relief bill of $1.6 trillion as last-ditch, pre-election negotiations hit a critical phase Thursday. Continue reading
Oct 01 WATCH: Federal officials testify on fraud prevention in small business loan programs By Courtney Vinopal Officials from the Office of the Inspector General and the U.S. Government Accountability Office will testify Oct. 1 about efforts to prevent fraud within federal programs set up to support small businesses affected by the novel coronavirus pandemic. Continue reading