Category Archives for "Business"

McConnell Urges Pelosi to Abandon Effort to Use Coronavirus Relief Bill to Achieve Unrelated Policy Goals

McConnell Urges Pelosi to Abandon Effort to Use Coronavirus Relief Bill to Achieve Unrelated Policy Goals 2Senate Majority Leader Mitch McConnell dismissed attempts by House Speaker Nancy Pelosi to spearhead talks about a fourth coronavirus relief bill, saying that she should “stand down” on the proposal.“She needs to stand down on the notion that we’re going to go along with taking advantage of

Source: McConnell Urges Pelosi to Abandon Effort to Use Coronavirus Relief Bill to Achieve Unrelated Policy Goals

Jobless Claims Soar to 6.6 Million, Shatter Another Record

Jobless Claims Soar to 6.6 Million, Shatter Another Record 4Jobless claims surge by an astounding 6.6 million as the coronavirus pandemic-led shutdown of the U.S. economy spurs unprecedented claims.

More than 6.6 million Americans filed for unemployment benefits in the last week of March, the U.S. Labor Department reported on Thursday – an unheard of number never before recorded in the U.S. – as the onslaught of the coronavirus continues to bring the U.S. economy to its knees.

The U.S. Labor Department reported that jobless claims for the week ended March 28 tallied 6,648,000. That followed last week’s eye-popping report of 3.3 million Americans being out of work and having filed for jobless claims – bringing the two-week total to 10 million.

Economists from the likes of Goldman Sachs and Morgan Stanley had been predicting anywhere from 3 million to 5.5 million jobless claims through the second week of a near-nationwide shutdown in economic activity that extended to cover more than two-thirds of the country.

Source: Jobless Claims Soar to 6.6 Million, Shatter Another Record

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