Business & Economy
Business & Economy
Retail Sales Bounce Up 17.7% After Record Drop As States Reopen
Spending is still nowhere near last year’s. But as more states and cities allowed restaurants and shopping centers to reopen, May saw a big swing from a historic collapse in March and April.
Federal Reserve Vows To Help Economy Weather The Pandemic Recession
The Fed leaves interest rates near zero as expected, and promises to use all of its tools to support the economy. Officials project unemployment above 9% at the end of this year.
It’s Official: The U.S. Economy Is In A Recession. How Long Will It Last Is Uncertain
The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
Frustrated By Delayed Unemployment Benefits, Laid Off Workers Turn To Washington Supreme Court
Frustration with long delays in getting jobless benefits is boiling over into a lawsuit against the Washington State Employment Security Department. Attorneys representing two laid off workers and the nonprofit Unemployment Law Project filed the case directly with the state Supreme Court on Friday.
Washington’s Smallest Counties Will Lead The Way Into Phase 3 Of State’s Reopening Plan
Nine rural counties are eligible to apply to the state Secretary of Health this week to move to the next stage in Gov. Jay Inslee’s four-phase reopening plan. Lincoln, Ferry, Stevens, Pend Oreille, Columbia and Wahkiakum counties wasted no time and submitted the necessary paperwork and letters of support on Wednesday to advance from Phase 2 to Phase 3.
Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms
Hardship programs appear to be helping many people pause payments and survive the economic shutdown so far. But not everybody is getting the help, and advocates see big potential trouble ahead.
From Jobs To Homeownership, Protests Put Spotlight On Racial Economic Divide
African Americans are 40% less likely to own their homes than whites. And blacks are more likely to hold jobs that put them at risk of the coronavirus. The civil unrest follows decades of inequality.
Washington’s ‘Stay Home’ Order Ends June 1, With State Moving To County-By-County Approach
Gov. Jay Inslee’s stay-at-home order will end at midnight on May 31. Instead, state officials will use a phased plan outlined at the beginning of the month to govern county-by-county reopening permissions.
Idaho Moves To Phase 3 Of 4-Stage Reopening Plan
Idaho Governor Brad Little announced Thursday his state is ready to move on to the next phase of its coronavirus reopening plan, beginning Saturday, May 30.
40.8 Million Out Of Work In The Past 10 Weeks — 26% Of Labor Force
More than 1 in 4 U.S. workers have lost their jobs since coronavirus shutdowns began. Last week, an additional 2.1 million people filed for unemployment benefits.
Boeing Cuts More Than 12,000 Jobs Due To Drop In Air Travel
The number of people traveling by air has plummeted more than 90% since the beginning of March. More than half of the employees losing their jobs are being laid off involuntarily.
After Months of Steep Declines, Air Traffic Is Picking Up
The airlines have lost billions of dollars in revenue with virtually no demand during the coronavirus pandemic. Now they are seeing more bookings despite concern from passengers.
