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“#853,000 filed amid COVID-19 lockdowns” American workers submitted 853,000 applications for unemployment benefits last week as a new wave of coronavirus lockdowns kept the labor market under pressure, the feds said Thursday. The latest batch of initial jobless claims brought the total reported during the COVID-19 pandemic to roughly 70.5 million — a number larger…
“#Hedge funds set records at the end of historically volatile 2020” One of the most turbulent years in modern history is coming to an end — and hedge funds are racking up their best returns in a generation. Hedge Fund Research’s HFRI 500 — an equal-weighted index of the world’s largest hedge funds’ returns —…
“#COVID-19 hit the working class hardest, just as it was finally doing better” Just when it seemed some of the most disheartening trends in the US economy were finally beginning to reverse, COVID arrived to entrench them. The pandemic has been a neutron bomb targeted at the prospects of lower-income working people. They had finally…
“#Extremist epidemiologists and other commentary” Libertarian: Extremist Epidemiologists A New York Times survey of 700 epidemiologists reveals that several believe it will never “be safe for normal life to resume,” Robby Soave notes at Reason. And in their own lives, “only 29 percent were willing to get a haircut, even though the most infamous case…
“#PPP wasn’t perfect, but it was a huge saver of American jobs” The Paycheck Protection Program was expensive, complicated, unfair and graft-prone. But it worked. The perception of a boondoggle is hardening. But before we slam Congress and President Trump for trying something new, let’s consider the big picture. In late March, as Congress prepared…
“#US adds 245,000 jobs, unemployment rate falls to 6.7%” The US economy added 245,000 jobs in November — barely more than half the number economists expected — as the coronavirus’ resurgence hampered the labor market’s recovery from the pandemic. The unemployment rate barely dropped to 6.7 percent last month from 6.9 percent in October amid…
“#NY small businesses can’t handle minimum-wage hike right now” Pandemic restrictions have forced many employers to furlough workers, cut staffs and even close entirely. And many of those remaining now face the prospect of having to pay a higher minimum wage as of Jan. 1 — which will likely kill more jobs. But Gov. Andrew…
“# Bitcoin lacks market integrity, says former Trump economic adviser ” Gary Cohn, the former president of Goldman Sachs and former chief economic adviser to Donald Trump, believes that Bitcoin may not hold long-term prospects for investors. In an interview with Bloomberg released today, Cohn said that the crypto asset “lacks some of the basic…
“#The fiscal update: We are in for a hard winter” Shannon Proudfoot: Enormous quantities of money will be spilled to try and get Canada through the coming months and, maybe, into a shiny spring It’s the first major economic progress report the government has provided since it was a majority still in its first term…
“#Millions of workers weeks away from losing paid COVID leave” Nearly 90 million workers could be just a month away from losing access to paid leave programs that helped slow the coronavirus’ spread, a new report says. The Families First Coronavirus Response Act — which Congress passed in March in the early stages of the…