Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions.
Roughly 36 million people have now filed for jobless aid in the two months since the coronavirus first forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday. Still, the number of first-time applications has now declined for six straight weeks, suggesting that a dwindling number of companies are reducing their payrolls.
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This Marketplace Is Over $7 Trillion And Rising—Seven New Products And Services This Consumer
The so-called longevity economy, which serves the needs of Americans over 50, is currently a $7.1 trillion market and composes 46 percent of the U.S. economy, according to Oxford Economics. As baby boomers continue to age, the market is forecasted to grow to more than $13.5 trillion by 2032. According to the U.S. Census Bureau, by 2030 there will be approximately 71.5 million Americans over the age of 65. This represents nearly 20 percent of the entire projected U.S. population in 2030.
The strong desire to remain in one's own home can generally be attributed to place attachment, or a deep connection to the home. Place attachment describes a special bond between people and specific places. Many older adults have spent years or decades in their current homes; some of their most memorable moments happened there with children, family, friends, and community. Contemplating the idea of packing up those memories and moving somewhere new can therefore pose a huge emotional hurdle.
Why some gig workers are getting less in unemployment benefits - Marketplace
State claims systems have been overwhelmed with unemployment insurance applications, causing delays. But even for those who have managed to apply, a new problem has emerged: Some are getting less money than others , simply because of how their work is classified.
Marketplace’s Nova Safo has been looking into this, and he points out that Congress has tried to shored up the unemployment system by making gig workers eligible for benefits through the Pandemic Unemployment Assistance program.
Getting A Job In The Post COVID-19 Marketplace
The IMF predicts we will be entering the worst global recession since the 1930s, and are forecasting ... [+] a downturn on par with the Great Depression.
Covid-19 has hit certain areas of the marketplace harder than others. For many salaried knowledge workers, it has meant a temporary transition away from the office to a home-based workspace. Millions of others, particularly those in the service sector, have been faced with shockingly sudden, overnight job loss. In many cases, they will not have a company or a job to return to after the pandemic is over.
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Amazon Promotes Its Etsy-Style Marketplace - EcommerceBytes
Amazon promoted its Handmade marketplace on its corporate blog on Wednesday, and made it easier for shoppers to find local and regional artisans. “To help connect customers with local small businesses across the U.S., Amazon Handmade, our store for Makers selling handcrafted products, has launched a new shopping experience featuring a curated collection of items from U.S.-based Makers,” it wrote.
Many people may be unaware of Amazon’s Etsy-style marketplace, but Amazon Handmade will celebrate its 5-year anniversary in October.
Latinas among those hit hardest by COVID-19 job losses - Marketplace
The devastation of the pandemic has cut deep and wide across the economy. Some of the worst job losses so far are among Latinas.
“The unemployment rate for Hispanic women sits at 20.2%,” Gould said. “That's 1 in 5 Hispanic women are now unemployed.”
That demographic saw the biggest jump in unemployment of any racial or ethnic group over the last two months, according to the federal Bureau of Labor Statistics.
What's in the new stimulus bill from House Democrats? - Marketplace
House Democrats have unveiled another stimulus bill that would double the amount of aid the federal government has already provided — to $6 trillion.
By most accounts this is an opening bid in a conversation on whether and how Washington should respond as some existing aid programs run out.
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“There's a trillion dollars for state and local governments, which have been walloped because tax revenue hasn't come in,” Tong told “Marketplace Morning Report Host” David Brancaccio. “The money would pay health workers, first responders, teachers at risk of losing their jobs.”
Can buffets survive the COVID-19 pandemic? - Marketplace
Sherry Buenrostro has operated La Nacional Mexican Buffet in Columbus, Georgia, along with her husband and parents-in-law, for nearly 20 years. But now the pandemic is forcing them to shift away from the buffet into a service model.
They're redoing their menu, paying more staff to attend to customers, and trying to partner with delivery services to boost takeout sales.
"I think it’s a permanent change. I don’t know if anything will ever go back to what the norm was before," Buenrostro said.
Happening on Twitter
2.9 million people lost their jobs this week meaning over 36 million people have now lost their jobs in the past tw… https://t.co/VOf940065G ClayTravis (from Nashville) Thu May 14 13:06:34 +0000 2020
BREAKING: US weekly jobless claims rise by 2.981 million, vs 2.7 million expected; more than 36 million have now fi… https://t.co/DW3NV7OENU CNBCnow Thu May 14 12:32:23 +0000 2020
U.S. weekly jobless claims rise by 2.98 million. More than 36 million have now filed since the coronavirus pandemic began. kylegriffin1 (from Manhattan, NY) Thu May 14 12:35:10 +0000 2020
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