Business & Economy Archives - Page 4 of 7 - Northwest Public Broadcasting

Business & Economy

Here’s Who’s Being Hit Hardest By The Economic Downturn

By PBS Newshour May 11, 2020

A pedestrian walks past a sign in a shop window reading "We Will Return Boston Strong" after Massachusetts Governor Charlie Baker extended his stay-at-home advisory and his order closing non-essential businesses

The current estimated unemployment rate far exceeds the 10 percent peak reached in the Great Recession in 2009. It is the most devastating loss of jobs since the Great Depression, when economists estimate the unemployment rate reached 25 percent in 1933. Read More

‘Let My People Go’: Opponents Of Coronavirus Measures Again Freely Gather To Protest In Olympia

By Austin Jenkins May 9, 2020

Participants at the Saturday rally prayed as the event got underway. Government overreach and tyranny were common themes. CREDIT: Austin Jenkins/N3

For the second time in a month, opponents of Washington Gov. Jay Inslee’s extended “Stay Home, Stay Healthy” order – many of them openly carrying firearms – rallied at the state Capitol Saturday in an event that brought together sign-waving citizens, conservative state legislators, Republican and Libertarian candidates for public office and members of far-right groups.Read More

For The History Books: 14.7% Unemployment, 20.5 Million Jobs Wiped Away, At Least Temporarily

By NPR News May 8, 2020

Notes: All values are seasonally adjusted. In the bar chart, figures for the two most recent months are preliminary and may be revised later. Source: Bureau of Labor Statistics, Federal Reserve Bank of St. Louis (unemployment rate, payrolls, wages)

U.S. employers shed a record number of jobs in April, as the unemployment rate climbed to the highest since the Great Depression. The coronavirus crisis has locked down much of the economy.Read More

Can George Washington Buy Wooden Teeth With This Washington Town’s New Wooden Money?

By NWPB News May 8, 2020

The design for wooden money Tenino, Washington, plans to print in response to the COVID-19 crisis, modeled after a Depression-era effort.

Tenino, a small town in Thurston County, Washington, has approved a plan to print its own money on strips of wood. Again. It’s a response to the COVID-19 crisis that’s modeled after how the town responded to a prior crisis — the Great Depression.Read More

How The Small Business Loan Program Went Wrong In Just 4 Weeks

By NPR News May 4, 2020

Signs are displayed in the window of a store in Grosse Pointe Woods, Mich.

Not-so-small companies like Shake Shack and organizations like the LA Lakers were able to get loans that were meant for suffering small businesses. What happened?Read More

I Said Hay, What’s Going On? Supply Chain Breakdown Hurting Big Northwest Ag Exports

By Anna King May 2, 2020

File photo. Central Washington is a hay growing and exporting powerhouse. But supply chain disruptions have caused slowdowns at West Coast and East Coast ports.

An unprecedented number of ships have canceled their calls to the ports of Seattle and Tacoma. So far this year, there have been 32 canceled international sailings since January 1. That has created the shortage of shipping containers at those Northwest ports.Read More

House Judiciary Committee Calls On Amazon’s Bezos To Testify

By NPR News May 1, 2020

Amazon CEO Jeff Bezos attends a commemoration ceremony in Istanbul, Turkey.

The House Judiciary Committee has threatened to subpoena Amazon founder Jeff Bezos if he does not voluntarily address the company possibly misleading Congress in earlier testimony.Read More

Jay Inslee Extends Coronavirus Closures Through May, Outlines Phased Plan To Reopen

By NWPB News May 1, 2020

Washington Gov. Jay Inslee announced an extension of the state's stay home, stay healthy measures through May, while unveiling a four-phase economic reopening and recovery plane. CREDIT: TVW

Washington's 'stay home' order will extend until at least May 31. On Friday, Gov. Jay Inslee announced the new time frame and that businesses will be able to open over four phases.Read More

Idaho Gov. Brad Little Begins Lifting Stay-Home Measures To ‘Re-open’ Economy

By Nicholas Deshais April 30, 2020

File photo. Gov. Brad Little speaks March 13, 2020 at a news conference. On Wednesday, April 15, he extended a stay-at-home order to the end of April, saying it’s needed to slow the spread of the coronavirus. CREDIT: Darin Oswald/Idaho Statesman via AP

Idaho Governor Brad Little kicked off the process Thursday of “re-opening” the state after five weeks of “stay home, stay healthy” measures to help stem the spread of coronavirus.Read More

A Staggering Toll: 30 Million Have Filed For Unemployment

By NPR News April 30, 2020

A County Library employee hands unemployment paperwork to residents in Tampa, Fla.

Another 3.8 million people filed claims for unemployment last week, as the coronavirus pandemic continues to weigh on the U.S. job market. That brought the total for the past 6 weeks to 30.3 million.Read More

‘Tip Of The Iceberg’: Economy Shrinks At 4.8% Pace, But Worst Is Yet To Come

By NPR News April 29, 2020

The U.S. economy shrank in the first quarter, as the coronavirus lockdown began.

The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.Read More

3.4 Million Homeowners Skip Payments. But Many Are Scared, Say Congress Needs To Act

By NPR News April 27, 2020

Homeowners say that to catch up on payments, lenders demand big balloon payments they can't afford. Advocates want Congress to mandate that missed payments simply be added to the end of the loan term.Read More

Small Business Loans Site Crashes On First Day Of Reopening

By NPR News April 27, 2020

Banks reported struggling to get through to the Small Business Administration on Monday to enter loan application information to the newly replenished small business relief program

Bankers tell NPR that the SBA's portal wouldn't allow them to enter the loan application information that is needed to access the PPP program.Read More

Pandemic Shutdown Is Speeding Up The Collapse Of Coal

By NPR News April 27, 2020

Energy analysts say coal use is down so much that some power plants might run out of room to stockpile it.

Coal use has plummeted in part because it's more expensive than natural gas or renewable energy. Mines are shutting down, and some power plants may run out of places to stockpile coal. Read More

Washington Moves Toward Reopening Fishing, Hunting, Golfing, State Parks Beginning May 5

By NWPB News April 27, 2020

Palouse Falls State Park is home to Washington's official state waterfall -- and large crowds in the spring runoff season.

Fishing, hunting and golfing can resume on May 5 in Washington, at which time people can also return to state parks and other state lands for day trips, Gov. Jay Inslee announced Monday.Read More

Why Ticket Holders Are Struggling To Get Refunds For Concerts And Live Events

By NPR News April 24, 2020

The U.S. leg of Weezer's Hella Mega tour with Green Day and Fall Out Boy has yet to be canceled due to the coronavirus

Entertainment companies Live Nation and AEG have modified their refund policies for postponed events. Getting money back would depend on whether a concert or a game has a firm rescheduled date.Read More

President Trump Signs New Coronavirus Bill For Small Businesses And Hospital Relief

By NPR News April 24, 2020

President Trump a new coronavirus economic aid package, largely targeted to support small businesses, in the Oval Office on Friday. CREDIT: Olivier Douliery/AFP via Getty Images

The biggest item in the $484 billion measure is roughly $321 billion in additional funding for a small-business loan program. President Trump signed the legislation on Friday. Read More

Gov. Brad Little Announces 4-Stage Reopening And Recovery Plan For Idaho

By Doug Nadvornick April 23, 2020

Idaho has created a new website to share details of its new four-stage coronavirus reopening plan.

Idaho Gov. Brad Little has announced a four-stage plan for re-opening the state’s businesses and communities after closures due to the coronavirus. The first stage is scheduled to take effect May 1.Read More

Inland Northwest Farmers Markets Hit By Coronavirus Closures Adapt To New Rules

By Nicholas Deshais April 23, 2020

Morgan Henry Kerr of Bellingham's Farmers Market monitors the new market entrance to monitor the number of people in the market so that physical distancing is maintained at all times.

While some elements of a farmers market are allowed — selling food and soap — other parts are not considered an “essential business” under Washington and Idaho’s orders. That means no more live music. No more kids’ activities. No seats. No touching the produce.Read More

Economic Deluge Continues With 26 Million Jobs Lost In Just 5 Weeks

By NPR News April 23, 2020

many states say they are seeing the trust funds used to pay unemployment benefits

The number of people forced out of work during the coronavirus lockdown keeps soaring. Last week, 4.4 million people filed for jobless benefits, boosting the total since last month to 26 million.Read More

Harvard And Other Universities Turn Down Relief Funds Amid Swell Of Criticism

By NPR News April 23, 2020

A statue of John Harvard wears a face mask

President Trump and others criticized "elite, wealthy institutions" for money allocated to them by a federal package. Read More

Washington Builds Contact Tracing ‘Fire Brigade’ As State Looks Toward Gradual Reopening

By NPR News April 22, 2020

Washington says it will launch contact tracing teams to map coronavirus exposure. Here, public health nurse Jennifer Morgan, right, checks-in via phone with a patient self-quarantined at home in February. University of Washington epidemiology student Erika Feutz observes in Seattle. CREDIT: Elaine Thompson/AP

Public health experts say finding and isolating coronavirus patients will be key to re-opening public life. That's going to take a lot of work.Read More

Secret Recording Reveals NRA’s Legal Troubles Have Cost The Organization $100 Million

By NPR News April 22, 2020

Wayne LaPierre, CEO of the National Rifle Association

The CEO of the National Rifle Association says legal troubles have cost the powerful gun rights group $100 million, according to a recording of the group's board meeting obtained by NPR.Read More

From Olympia To Richland To Moscow, Protesters Demonstrate Against Coronavirus Safety Measures

By NWPB News April 20, 2020

Protesters rally against social-distancing measures at the Washington state Capitol on April 19, 2020. CREDIT: Will James / KNKX

Demonstrations from Olympia to Richland in Washington, to Sandpoint to Moscow to Boise in Idaho, have been organized by people flouting social distancing measures put in place for public health and to slow the spread of coronavirus.Read More

‘Illegal To Essential’: How The Coronavirus Is Boosting The Legal Cannabis Industry

By NPR News April 20, 2020

More than 20 states designated marijuana businesses essential during the coronavirus shutdown. Cannabis activists say it's a remarkable development, given that it remains illegal under federal law. Read More

Jay Inslee Is Running For A 3rd Term. Here’s What His Opponents Think Of His Coronavirus Response

By Nicholas Deshais April 17, 2020

Last year, Washington Gov. Jay Inslee was running for president. Then he declared a 3rd-term run for governor. Then the coronavirus hit. Now his opponents have a lot to say about how he's handled it.

Washington Gov. Jay Inslee has been called “an example of effective crisis leadership.” Not all Washingtonians agree that Inslee has done well — especially the people who want his job.Read More

Surge In Unemployment Continues As Clunky State Systems Await Upgrades

By Tom Banse April 17, 2020

Shavonne Maes paints a mural onto the boarded up facade of Some Random Bar on March 26, 2020, in Seattle.

Fresh numbers of initial claims for jobless benefits showed some moderation in the past week in the staggering wave of layoffs across the Northwest caused by the coronavirus pandemic. But the level of unemployment claims continues to hover at record levels, as reported Thursday by the state labor and employment departments of Washington, Idaho and Oregon.Read More

10 Years Of Spectacular U.S. Job Growth Nearly Wiped Out In 4 Weeks

By NPR News April 16, 2020

People who lost their jobs wait in line to file for unemployment benefits at an Arkansas Workforce Center in Fayetteville, Ark., on April 6. CREDIT: Nick Oxford/Reuters

The number of people filing for unemployment climbed by another 5.2 million, as the toll of the nation's economic dive continues to mount. In the past four weeks, 22 million have filed claims.Read More

In Washington And Beyond, When Will It Start To Get Back To Normal? Experts Weigh In

By Austin Jenkins April 16, 2020

This chart from the Institute for Health Metrics and Evaluation at the University of Washington shows a sharp decline in COVID-19 related deaths by early May if social distancing practices continue. CREDIT: Office of Gov. Jay Inslee

After weeks of extraordinary efforts to slow the spread of the new coronavirus and prevent hospitals from being overwhelmed, Washington state officials are beginning to talk more openly about easing social distancing restrictions and a sequential unlocking of the economy.Read More

Report: Adding President’s Name To Checks Will Delay Them. IRS Says They’re On Schedule

By NPR News April 15, 2020

Direct-deposit economic relief money is expected to be weeks ahead of physical checks. NoDerog/Getty Images

The IRS said the economic relief payments "are going out on schedule, as planned, without delay." The Washington Post reported that Trump's name would be included on the checks, an unprecedented step.Read More

Washington-Oregon-California Governors Announce ‘Pact’ For Reopening Economies

By NWPB News April 14, 2020

File photo. Porter Hahn makes an iced coffee drink in November 2019 in a Seattle coffee shop. U.S. services companies grew at a faster pace in February 2020 than the previous month. Then the coronavirus outbreak in the region shut down much of the service industry. CREDIT: Elaine Thompson/AP

With President Donald Trump suggesting he has authority to unilaterally re-open businesses around the country, West Coast governors on Monday presented a united front, saying they’ll only lift restrictions when public health data suggests they can.Read More

Great Recession Recovery Effort Shaped A Key Part Of Joe Biden’s Record

By NPR News April 12, 2020

In 2010, Vice President Joe Biden speaks to construction workers at the Brooklyn Bridge, marking a renovation project which was partly funded by money from the 2009 Recovery Act. Spencer Platt/Getty Images

Facing economic peril in 2009, "Sheriff Joe" Biden was in charge of how federal stimulus dollars were spent. It's experience he may compare with President Trump's response to the coronavirus.Read More

White House Seeks To Lower Foreign Guest Farmworker Pay To Help U.S. Farm Owners

By NPR News April 10, 2020

Farmworkers work at a winery in Clarksburg, Calif., on March 24. Farms continue to operate as essential businesses even as the coronavirus has hurt the agriculture industry. CREDIT: Rich Pedroncelli/AP

White House Chief of Staff Mark Meadows is working with Agriculture Secretary Sonny Perdue to see how wage rates for immigrant farmworkers can be reduced. Critics say it will hurt all workers.Read More

Elected Officials, Construction Industry Want Jay Inslee To Classify Home Building As ‘Essential’

By Enrique Pérez de la Rosa April 10, 2020

File photo. Seattle's rental housing market shows more availability than other areas of Washington, like Kittitas and Yakima counties, where new construction hasn't kept up with demand. CREDIT: TED S. WARREN/AP

Construction industry advocates are asking Washington Gov. Jay Inslee to allow more home building to continue under his “stay home, stay healthy” order meant to fight the COVID-19 pandemic.Read More

In Northwest States, Newly Jobless Wait For Unemployment Systems To Catch Up

By Tom Banse April 10, 2020

Laid-off restaurant worker Katrina Thiessen is frustrated by the weeks-long delay in having her unemployment claim approved.

There are hundreds of thousands of additional jobless workers waiting in the wings to file claims, including part-time and gig economy workers and self-employed who qualify under expanded federal benefits. But they are temporarily frozen out. The wait for overloaded unemployment systems to catch up is leaving some of them frustrated or anxious.Read More

Massive Job Losses Continue As 17 Million File For Unemployment In 3 Weeks

By NPR News April 9, 2020

A man collects unemployment forms at a drive-through collection point outside of a library in Hialeah, Fla., on Wednesday. CREDIT: Chandan Khanna/AFP via Getty Images

The number of people seeking jobless benefits shot up again last week, as 6.6 million more of the unemployed filed first-time claims. Much of the economy has shut down, leaving millions out of work.Read More

GM Will Build 30,000 Ventilators For U.S. Government Under Defense Production Act

By NPR News April 8, 2020

General Motors and Ventec Life Systems are partnering to produce ventilators at the GM manufacturing facility in Kokomo, Ind. CREDIT: AJ Mast/General Motors

The ventilators will be delivered to the national stockpile by August. The contract, worth nearly $500 million, is the first ventilator order placed using the Defense Production Act.Read More

Tale Of Two Crops: Pandemic Yields Different Realities For Northwest Potato And Apple Growers

By Anna King April 7, 2020

Potatoes scoot by on fast belts at Balcom & Moe in Pasco. The potatoes get a rinse, are sized and then put in bags destined for America’s supermarkets. The potato farmer and packer-shipper has been in business since the 1920’s. CREDIT: ANNA KING/NW NEWS NETWORK

The coronavirus pandemic continues to make its presence known in all facets of daily life, including agriculture. That extends to some supply and demand economics lessons for Northwest apple and potato growers.Read More

4 Of 5 Workers Are Affected By COVID-19 Worldwide, U.N. Agency Says

By NPR News April 7, 2020

A worker cleans along the Las Vegas Strip, which is nearly empty without the usual crowds as casinos and other businesses are shuttered during the coronavirus outbreak on March 31. John Locher/AP

The COVID-19 pandemic is taking a terrible toll on the world's economy, with lockdown measures now affecting the livelihood of almost 2.7 billion workers, according to a new report.Read More

Boeing And Airbus Halt Production Temporarily, Continuing Global Change In Operations

By NPR News April 6, 2020

Employees work on Airbus SE A321 fuselages at the company's final assembly line facility in Mobile, Ala. in 2017. CREDIT: Bloomberg/Bloomberg via Getty Images

Airbus and Boeing halt production of its jets because of the coronavirus. Orders for new planes have fallen as air travel has plummeted due to the pandemic.Read More

Stumbling Toward Spring: Northwest Growers Scramble To Start During Coronavirus Crisis

By Anna King April 3, 2020

Freshly planted furrows span out across the Columbia Basin as farmers get ready for the coming season as worries of COVID-19 spread in central and eastern Washington.

Spring work starts up, ready or not. And Northwest growers are scrambling to figure out how to work around the global coronavirus pandemic and still bring in the coming harvest. Read More

Jay Inslee Vetoes $235M In Washington Spending As Coronavirus-Caused Fiscal Cliff Looms

By Austin Jenkins April 3, 2020

Gov. Jay Inslee signs Washington's supplemental operating budget into law on April 3, 2020. Before doing so, he vetoed more than $200 million in new spending in anticipation of the fiscal impacts of the COVID-19 pandemic. CREDIT: Office of the Governor

In anticipation of state revenues cratering because of the COVID-19 pandemic, Washington Gov. Jay Inslee on Friday vetoed more than $200 million of new spending from the supplemental budget passed by state lawmakers last month.Read More

Why Insurers May Not Cover Business’ Coronavirus Losses

By NWPB News April 3, 2020

Carlo Lamagna, the owner and chef of Magna Kusina in Portland, Ore., poses for a portrait inside his closed restaurant on Friday, March 27, 2020. Lamagna laid off his entire staff and closed the business following Oregon Gov. Kate Brown’s order to halt dine-in eating at restaurants in response to the coronavirus outbreak. CREDIT: Bryan M. Vance/OPB

As coronavirus pandemic shutters small businesses across the Northwest, business owners are bracing for a wave of insurance denials. That’s because insurers have been telling businesses that coronavirus losses don’t count.Read More

Stimulus Cash Payments May Take Up To 20 Weeks To Reach Some Americans Without Direct Deposit

By NPR News April 2, 2020

Treasury Secretary Steven Mnuchin previously estimated that payments to qualifying Americans would go out by mid-April. CREDIT: Drew Angerer/Getty Images

This time frame is longer than the estimate that Treasury Secretary Mnuchin gave when he negotiated the program for cash payments with congressional leaders. Read More

Washington Steps-Up Messaging On ‘Stay-At-Home’ Order: Risk Ticket Or Losing Business Licence

By NWPB News March 30, 2020

A highway sign in Carmel, Ind., urges resident to stay home as the state ordered residents to remain at home except for essential activities. Similar signs are up in many states, including Washington, after governors have issued their own orders limiting business and travel. CREDIT: Michael Conroy/AP

The governor outlined a three-tier law enforcement response system for violations of the order, which could amount to a gross misdemeanor. A first offense would result in a warning. But consequences thereafter would become more serious.Read More

As Monthly Rents Come Due, So Do Different Eviction Policies For Idaho And Washington Tenants

By Nicholas Deshais March 30, 2020

Rent is due this week. But with stay-home orders in both Washington and Idaho, shuttered businesses and a troubled economy, some people wonder if they’ll get evicted if they don’t pay. In Washington, a moratorium on evictions gives protection to renters hit hard by the COVID outbreak. Idaho has no such moratorium, but a recent court order may protect them.Read More

Lost Work Because Of Coronavirus? How To Get Unemployment, Skip Loan Payments And More

By NPR News March 30, 2020

Stock photo - final notice - bills unpaid - unemployment Fanatic Studio/Getty Images

The federal government is throwing $2 trillion at the coronavirus problem. Banks and other lenders are doing things to assist people on top of that. Here's your survival kit for how to get the help that's available and be in the best financial shape possible as you weather this storm.Read More