Tag Archives for " Trump economy "

U.S. surpasses 160,000 coronavirus deaths as school openings near – Reuters

U.S. surpasses 160,000 coronavirus deaths as school openings near - Reuters 1(Reuters) – U.S. deaths from the coronavirus pandemic exceeded 160,000 on Friday, nearly a quarter of the world’s total, according to a Reuters tally, as the country debates whether schools are ready to reopen their doors in the coming weeks.

The country with the most coronavirus cases, the United States recorded 160,003 deaths and 4.91 million cases. Coronavirus deaths are rising in 23 states and cases in 20 states, according to a Reuters analysis of data the past two weeks compared with the prior two weeks.

On a per-capita basis, the United States ranks 10th highest in the world for both cases and deaths.

Source: U.S. surpasses 160,000 coronavirus deaths as school openings near – Reuters

US adds 1.8 million jobs in a sign that hiring has weakened

US adds 1.8 million jobs in a sign that hiring has weakened 2WASHINGTON (AP) — The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is weakening hiring and the economic rebound.

At any other time, hiring at that level would be seen as a blowout gain. But after employers shed a staggering 22 million jobs in March and April, much larger increases are needed to heal the job market. The hiring of the past three months has recovered only 42% of the jobs lost to the pandemic-induced recession, according to the Labor Department’s jobs report released Friday.

And now, with much of the nation having paused or reversed plans to restore economic activity, many employers are still reluctant or unable to hire and consumers remain generally hesitant to shop, travel, or eat out. Until the health crisis is solved through a vaccine or an effective treatment, most experts say the economy will struggle to sustain any recovery.

Though the unemployment rate fell last month from 11.1% to 10.2%, that level still exceeds the highest rate during the 2008-2009 Great Recession.

Source: US adds 1.8 million jobs in a sign that hiring has weakened

1.2 million seek jobless aid after $600 federal check ends

1.2 million seek jobless aid after $600 federal check ends 3WASHINGTON (AP) — Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired.

The government’s report Thursday did offer a smidgen of hopeful news: The number of jobless claims declined by 249,000 from the previous week, after rising for two straight weeks, and it was the lowest total since mid-March.

Still, claims remain at alarmingly high levels: It is the 20th straight week that at least 1 million people have sought jobless aid. Before the pandemic hit hard in March, the number of Americans seeking unemployment checks had never surpassed 700,000 in a week, not even during the Great Recession of 2007-2009.

Source: 1.2 million seek jobless aid after $600 federal check ends

Trump threatens executive actions as coronavirus relief deal remains elusive on Capitol Hill – The Washington Post

Trump threatens executive actions as coronavirus relief deal remains elusive on Capitol Hill - The Washington Post 4President Trump on Wednesday threatened to take executive action to extend an eviction moratorium, suspend collection of the payroll tax and boost unemployment benefits unless a coronavirus relief deal can be reached quickly with Democrats on Capitol Hill.

And in a sign the White House could be preparing to act, the Trump administration has asked federal agencies to identify all of the money they have not yet spent from the $2 trillion Cares Act, which passed in March, according to two people briefed on the effort. White House officials are trying to determine whether this money could be redirected and used for other purposes, such as temporary unemployment benefits or the eviction moratorium.

The president has been floating the possibility of acting unilaterally for several days, but he detailed his specific plans for the first time Wednesday at the beginning of a coronavirus news conference at the White House. It came as negotiations continued between top Trump administration officials and congressional Democrats, but agreement remained elusive.

Source: Trump threatens executive actions as coronavirus relief deal remains elusive on Capitol Hill – The Washington Post

Wave of evictions expected as moratoriums end in many states

Wave of evictions expected as moratoriums end in many states 5BALTIMORE (AP) — Kelyn Yanez used to clean homes during the day and wait tables at night in the Houston area before the coronavirus. But the mother of three lost both jobs in March because of the pandemic and now is facing eviction.

The Honduran immigrant got help from a local church to pay part of July’s rent but was still hundreds of dollars short and is now awaiting a three-day notice to vacate the apartment where she lives with her children. She has no idea how she will meet her August rent.

“Right now, I have nothing,” said Yanez, who briefly got her bar job back when the establishment reopened, but lost it again when she and her 4-year-old daughter contracted the virus in June and had to quarantine. The apartment owners “don’t care if you’re sick, if you’re not well. Nobody cares here. They told me that I had to have the money.”

Source: Wave of evictions expected as moratoriums end in many states