Category: Economic Stimulus

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What’s in Joe Biden’s American Rescue Plan?

The US president-elect's government-funded aid package, billed as the American Rescue Plan, is intended to pump money into the US economy as well as bolster vaccination and testing efforts. It comes at a time when deaths from the virus pandemic have hit record levels and unemployment claims are surging amid fresh lockdowns imposed by local governments. "There's no time to waste," Biden said when he unveiled his plan...

America’s Slide Into Economic Oblivion Is Already Starting To Accelerate Here In 2021

Authored by Michael Snyder via TheMostImportantNews.com,Isn’t it fun to live in a rotting, decaying society that is coming apart at the seams all around us?  The latest economic numbers are extremely depressing, but now that free speech is being abolished and the elite are consolidating control over every aspect of our society, we are being assured that better days are right around the corner.  We have just got to be...

New $300 Weekly Unemployment Benefit: When You Get It Depends On Where You Live

Millions of jobless Americans are starting to see larger unemployment checks, as a result of the $900 billion stimulus package passed at the end of 2020. But when that boost arrives depends in part on what state you live in.Supplemental federal unemployment benefits, which had been put into place with the CARES Act last spring, were set to expire last year. But lawmakers from both parties finally came...

Biden Calls for Boosted, Extended Unemployment Benefits. Here’s What You Need to Know

Millions of Americans are still out of work. Biden's new proposal seeks to help them.Millions of Americans have lost their jobs in the wake of the coronavirus pandemic. While the unemployment rate has dropped since reaching a record high last April, joblessness is still rampant. In fact, last week, first-time jobless claims totaled 965,000. That's way worse than the 800,000 analysts were expecting and substantially higher than the...

US joblessness spikes with 1.2m jobless claims in first week of year

WASHINGTON • Ten months after the coronavirus crisis decimated the United States labour market, the resurgent pandemic keeps sending shock waves through the economy. Though more than half of the 22 million jobs lost last spring have been regained, a new surge of infections has prompted shutdowns and layoffs that have hit the leisure and hospitality industries especially hard, dealing a setback to the recovery. The latest evidence...

Joe Biden’s stimulus plan would enact $400 weekly federal unemployment benefits through Septem …

The Biden stimulus package included a $400 weekly federal unemployment benefit through the end of September. It also renews federal unemployment programs for gig workers and people who exhausted state benefits for the same length of time. "This gets money quickly into the pockets of millions of Americans who will spend it immediately on food, rent, and other basic needs," Biden said during a speech on Thursday. Visit...

US unemployment spikes with 1 million jobless claims last week

WASHINGTON (NYTIMES) - Ten months after the coronavirus crisis decimated the US labour market, the resurgent pandemic keeps sending shock waves through the economy. Though more than half of the 22 million jobs lost last spring have been regained, a new surge of infections has prompted shutdowns and layoffs that have hit the leisure and hospitality industries especially hard, dealing a setback to the recovery. The latest evidence...

Joe Biden Unveils $1.9 Trillion COVID Stimulus Plan

Biden unveiled his 2-step plan of "rescue and recovery" in a 30 minute presentation, which was just as was leaked in advance: a $1.9 trillion stimulus proposal which will encounter immediate Republican opposition due to its big-ticket spending on Democratic priorities including aid to state and local governments, a hike in the minimum wage to $15, and expanded unemployment benefits.“We have to act and we have to act...

Unemployment Claims Rise Sharply, Showing New Economic Pain

Ten months after the coronavirus crisis decimated the labor market, the resurgent pandemic keeps sending shock waves through the American economy.Though more than half of the 22 million jobs lost last spring have been regained, a new surge of infections has prompted shutdowns and layoffs that have hit the leisure and hospitality industries especially hard, dealing a setback to the recovery.The latest evidence came on Thursday when the...

U.S. weekly jobless claims jump on COVID-19, renewed supplementary payments

By Lucia Mutikani5 Min ReadWASHINGTON (Reuters) - The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening COVID-19 pandemic disrupts operations at restaurants and other businesses.The larger-than-expected increase in weekly unemployment claims reported by the Labor Department on Thursday was seen by some economists as driven by the recent renewal of supplemental jobless benefits, but...

Kentucky sending $400 checks to thousands barred from Trump unemployment program

Andy Beshear, governor of KentuckyScotty Perry/Bloomberg via Getty ImagesKentucky is sending $400 checks to thousands of unemployed workers in the state who didn't qualify for an earlier round of relief authorized by President Donald Trump.Other workers whose jobless benefits have been significantly delayed will get $1,000 one-time payments.Gov. Andy Beshear signed an executive order Tuesday directing $48 million to these groups of workers, who've slipped through cracks in...

US weekly jobless claims jump on COVID-19, renewed supplementary payments

WASHINGTON: The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening COVID-19 pandemic disrupts operations at restaurants and other businesses.The larger-than-expected increase in weekly unemployment claims reported by the Labor Department on Thursday was seen by some economists as driven by the recent renewal of supplemental jobless benefits, but nonetheless raised the risk of further...
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