Unemployment claims at 870,000 as fraud and backlogs cloud data
The number of people seeking U.S. unemployment aid rose slightly last week to 870,000.
Bank shares tumble on reports of rampant money laundering
The financial sector was hit hard Monday following a report alleging that a number of banks have continued to profit from illicit dealings with disreputable people and criminal networks.
Milpitas woman uses man’s identity to claim unemployment benefits on his behalf
When 20-year-old Sebastian Alvarez opened a recording studio last spring, he couldn’t have anticipated that a pandemic would halt his business before it could get off the ground. But upon approval for unemployment insurance, he found himself in another unforeseeable situation—he couldn’t access any funds, because someone allegedly purchased his social security number, and was using his identity to collect benefits.
Dow plunges 900 points as election, coronavirus lockdown worries mount
U.S. equity markets were sharply lower Monday as investors weighed the possibility of more coronavirus shutdowns in Europe and uncertainty surrounding the U.S. election.
If you didn’t file tax returns, the IRS may still owe you a $1,200 COVID-19 stimulus check
On Friday, the IRS announced that it will mail letters to people who did not file a return for either 2018 or 2019, but still may qualify for an Economic Impact Payment.
SF launches program giving some pregnant women and moms $1,000 a month
San Francisco announced the Abundant Birth Project, which will pay $1,000 a month to Black and Pacific Islander women who are pregnant or recently gave birth.
EDD offers assistance to those who lost jobs due to wildfires
Despite already being overwhelmed by the pandemic and the recession, the EDD is offering assistance to people made jobless by the wildfires.
$300 weekly unemployment benefit extended for two more weeks
The EDD announced that those who qualify for the additional $300 weekly unemployment benefit, initially presented as a 3-week benefit, will get payments for 2 additional weeks.
Study: 52% of young adults forced to move back in with parents amid COVID-19
According to a study done by the Pew Research Center, 52% of young adults have been forced to move back in with their parents or with another person due to the economic and financial impacts of the COVID-19 pandemic.
California lawmakers approve emergency audit of EDD
California assemblymembers approved an emergency audit of the Employment Development Department Thursday to address backlogged claims, call center operations and “efficiencies.”
Santa Clara County hopes to move into red tier of state's reopening plan next week
In Santa Clara County, salons, barbershops, and malls are allowing customers inside. Next week, the county may get the green light from the state to resume more indoor operations.
FedEx to hire 70,000 workers for 'unprecedented holiday shipping season'
FedEx plans to hire as many as 70,000 seasonal workers. That's a 27 percent increase from the 55,000 hired last year.
Unemployment claims fall to 881,000 but layoffs remain elevated
The number of laid-off Americans applying for unemployment benefits fell to roughly 880,000 last week.
Governor Newsom ditches watch list for new 4-tier reopening plan
Gov. Newsom announced a new approach to how California counties may qualify to reopen businesses and activities that have been forbidden during the coronavirus pandemic.
Dining at San Francisco restaurants has plummeted by 91%
New data about San Francisco's world-renowned dining scene shows that the industry is starving for customers. Sales in high-end restaurants to hole-in-the-wall eateries have fallen by 91% during the coronavirus pandemic, according to the city's Chamber of Commerce.
Fed: Rates to stay ultra-low even after inflation picks up
The change means the Fed is prepared to tolerate a higher level of inflation than it generally has in the past.
More than 1 million Americans applied for unemployment benefits
Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales and other segments of the economy rebound from a springtime collapse.
Millions of jobs lost to coronavirus pandemic could take years to return
The damage inflicted to the jobs market is expected to persist for years, IRS projections show.
US unemployment claims jump back above 1 million in face of coronavirus
The coronavirus recession struck swiftly and violently. Now, with the economy still in the grip of the pandemic five months later, the recovery looks fitful and uneven — and painfully slow.
Apple reaches $2 trillion market value as tech fortunes soar
The iPhone maker reached the $2 trillion milestone in Wednesday's early stock market trading when its shares surpassed $467.77.