The coronavirus pandemic has impacted millions of Americans financially, with 2.1 million workers claiming unemployment benefits for the week ending May 23. In total, nearly 41 million people have filed for unemployment benefits since early March. While the effects of these job losses have impacted everyone, data from the Bureau of Labor Statistics shows that women are
For some, this is a chance to save like never before. The personal savings rate hit a historic 33% in April, the U.S. Bureau of Economic Analysis said Friday, by far the highest level of saving since the department started tracking data in the 1960s. With Americans largely sheltering at home, this historical spike in
Kevin O’Leary told CNBC on Friday the coronavirus crisis has shown that remote working is good for employees and a business’s bottom line. “Productivity is significantly higher when you give people what they want,” the “Shark Tank” investor said on “Squawk Box.” ”Maybe they’re taking care of an aged parent, maybe they’re raising kids, maybe they don’t want to
U.S. President Donald Trump speaks to reporters after he received a 2020 hurricane season briefing during the coronavirus disease (COVID-19) outbreak in Washington, May 28, 2020. Jonathan Ernst | Reuters President Donald Trump announced Friday that the United States will cut ties with the World Health Organization. “China has total control over the World Health
Residents wait in line for free groceries from a pop-up food pantry amid the coronavirus disease (COVID-19) outbreak in Chelsea, Massachusetts, May 19, 2020. Brian Snyder | Reuters The historic job losses suffered around the world are disproportionately affecting women, Citi said in a new research report. On top of being an inequality issue, there
CNBC’s Jim Cramer said Friday he’s concerned the stock market’s rally from its March lows may run out of steam unless Congress approves additional coronavirus relief measures. “Without another package, I know it’s trillions of dollars, we’re just going to kind of sputter out,” Cramer said on “Squawk Box.” ”I get worried. It’s just too many people that
Zillow CEO Richard Barton told CNBC on Friday that the online real estate company has not observed a dramatic spike in people moving out of dense, urban areas due to the coronavirus pandemic. “We’re all searching for our data to confirm our bias, or our theory, that people are moving out of the city into the suburbs,” Barton said
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NoDerog | iStock | Getty Images Millions of Americans have received their economic stimulus payments of up to $1,200 a person. But some are taking a look at those sums and wondering what happened. Some are finding that those checks are made out for less than they were expecting. Others may find that they receive
Wine store employees catalog a new shipment of alcohol on May 28, 2020 in New York City. Government guidelines encourage wearing a mask in public with strong social distancing in effect as all 50 states in the USA have begun a gradual process to slowly reopen after weeks of stay-at-home measures to slow the spread
The former Calabasas, California home of Kylie Jenner is on the market for $3.6 million. The house is located in the exclusive Oaks neighborhood, where her mother, Kris Jenner, and sisters, Khloe and Kourtney Kardashian, also owned properties. In 2015, when she was 17, Jenner bought the house for $2.6 million. She sold it two years later
Guests wearing face masks visit the Universal Orlando’s CityWalk as sections of the entertainment and retail district opened today for limited hours for the first time since Universal Orlando closed on March 15, 2020 due to the coronavirus pandemic. Paul Hennesy | Barcroft Media | Getty Images More than a century ago, judges in Missouri
Reading, PA – May 8: Major Joy Mudge, left, and Kristy Kushner, right the Director of Social Services, helps to organize boxes ready for distribution. During a food distribution at the Salvation Army location on South 5th Street in Reading, PA Friday afternoon May 8, 2020. (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images)
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Morgan Stanley is planning to kick off the return of trading personnel to its New York headquarters in mid to late June, according to people with knowledge of the situation. The
Martin Seay, president of the Financial Planning Association and chair of the Personal Financial Planning Program at Kansas State University. Financial Planning Association The coronavirus pandemic has forced businesses of all kinds to rethink how they work and interact with customers. Financial planning is no different. Martin Seay, president of the Financial Planning Association, perhaps
The stock market has been erratic, real estate is hurting, bond yields are painfully low and dividends are shrinking. In the coronavirus recession, most financial assets have been disturbingly volatile. But one widely held financial asset, perhaps the most important one for the vast majority of Americans, has performed splendidly: their stake in Social Security.
A customer exits a Wells Fargo & Co. bank branch in Hermosa Beach, California. Patrick T. Fallon | Bloomberg | Getty Images Despite record-high unemployment and massive economic fallout from the coronavirus pandemic, fewer homeowners appear to be struggling to make their monthly mortgage payments now than at the start of the crisis. The number
With California’s unemployment rate approaching 25 percent, it is somewhat surprising to find policymakers contemplating a literal tax on jobs. That is, however, precisely what some California lawmakers have proposed under the COVID-19 Local Government and School Recovery and Relief Act, which would impose a $275 per employee tax on all businesses with at least
Though the stock market is on the rebound of late as more and more states reopen, hedge fund billionaire Ray Dalio has made it clear that he expects the ongoing coronavirus pandemic to leave behind an economic downturn that could be the worst since the Great Depression. “We’re not going to go back to normal” once the pandemic subsides, Dalio
Never has the money sitting in your 401(k) retirement savings plan looked so enticing. Thanks to the CARES Act stimulus package Congress passed in March, if you’ve been negatively impacted by the coronavirus pandemic, you can pull up to $100,000 from your retirement account through the end of the year, without being dinged the usual 10% early withdrawal
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