More Californians stop seeking work as virus surges
More than 327,000 people stopped looking for work in California last month, a worrisome trend that has clouded the state’s economic picture during its worst outbreak of the coronavirus.
US jobless claims rise to 885,000 amid resurgence of coronavirus
The number of Americans applying for unemployment benefits rose again last week to 885,000 as a resurgence of coronavirus cases threatens the economy’s recovery.
Pandemic pushes the formerly employed into poverty, with scant support
1.6 million Californians will lose their unemployment benefits the day after Christmas. With rent due and a stimulus still up in the air, many Californians are falling into poverty with a weak job market and insufficient aid.
California's growth rate hits record low as more people leave state
California saw its slowest growth rate on record for the nation’s most populous state, adding just 21,200 people during the year that ended in July.
IRS warns of scam texts claiming to send fake stimulus check
The Internal Revenue Service is warning of a text sent out by scammers claiming to have access to a $1,200 stimulus check in exchange for personal bank information.
California’s commercial crab season to open December 23
There could be Dungeness crab for Christmas after all. The California Department of Fish and Wildlife announced Friday commercial crab season will open statewide on Wednesday, Dec. 23.
Unemployed Americans losing benefits on Dec. 26 face bleak holiday season
Unemployed people interviewed by KTVU expressed disappointment with the lack of enduring economic support during a pandemic, and lamented the loss of a comfortable and joyous holiday season.
US budget deficit up 25.1% in first 2 months of budget year
The Treasury reported that with two months gone in the budget year, the deficit totaled $429.3 billion, up from $343.3 billion last year.
Airbnb prices shares at $68 ahead of Thursday IPO
Thirteen years after its founders first rented air mattresses in their San Francisco apartment, Airbnb is making its long-awaited stock market debut.
New White House offer adds $600 stimulus checks to COVID-19 relief
It proposes the $600 direct payment for individuals and $1,200 for couples, which is half the payment delivered by the March pandemic relief bill.
Lawmakers say COVID-19 relief bill won’t offer $1,200 checks
The plan being worked on by Republican and Democratic senators is less than half of the Democrats’ push of $2.2 trillion.
US economy will return to pre-pandemic levels by second-half of 2021, experts predict
The U.S. economy's growth is likely slowing as 2020 comes to a close, but a growing number of economists expect it to claw back to its pre-pandemic strength by the second half of next year.
Employers add a modest 245,000 jobs in November as coronavirus pandemic intensifies
America’s employers scaled back their hiring last month as the viral pandemic accelerated across the country, adding 245,000 jobs, the fewest since April and the fifth straight monthly slowdown.
Scam alert: HHS warns of fake social media accounts promising COVID-19 grant money
The Office of the Inspector General for the U.S. Department of Health and Human Services is warning the public of yet another COVID-19-related scam being perpetrated through social media.
Unemployment claims remain high at 712,000 as COVID-19 pandemic escalates
The number of Americans applying for unemployment benefits fell last week to a still-high 712,000, the latest sign that the U.S. economy and job market remain under stress from the intensified viral outbreak.
IRS admits to erroneously sending $34M in COVID-19 stimulus funds overseas
The IRS acknowledged that it was responsible for sending $34 million worth of COVID-19 stimulus checks to ineligible people living outside of the United States.
Work in paradise: Hawaii offering incentives to remote workers who move to state
Hawaii’s new Movers and Shakas program hopes to attract talented individuals to the islands to work remotely, forging an economy resilient to economic downturns like the one triggered by the COVID-19 pandemic.
Coronavirus aid, federal funding remain unresolved as Congress returns
Congress is returning to Washington for one last attempt at deal-making this year.
Absent new stimulus, wealthy pay off credit cards, while others dive deeper into debt
Credit cards reveal yet another example of the “K-shaped recovery” wherein high earners are recuperating, or even increasing their wealth during the economic downturn, and lower income earners are flailing.
1 in 10 Americans did not have enough food to eat last week, according to the US Census Bureau
As people continue to lose jobs in a crippled economy during the ongoing COVID-19 pandemic, the uncertainty of providing food for a full household only adds to the stress.