The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday.
The GOP unveiled details for a second round of direct payments to American households on Monday, in legislation that has been dubbed the HEALS Act.
Instead, shoppers can reportedly purchase holiday deals earlier than ever, with savings starting in October and continuing throughout the season.
The framework is expected to extend — but reduce substantially — just-expired expanded unemployment benefits, send a fresh round of $1,200 stimulus check to American adults earning less than $75,000 in August and funnel tens of billions of dollars in aid to schools and universities.
The $600 weekly boost in jobless aid that millions of people have received since early in the pandemic is set to expire.
Pew Research Center reports that 52% of Americans are in middle-income households.
Treasury Secretary Steve Mnuchin says that many Americans will be getting another $1,200 stimulus check in August. But, he says that the GOP is determined to cut down the $600/week in extra federal unemployment benefits that millions have been getting for months.
Nearly half of Americans whose families experienced a layoff during the coronavirus pandemic believe those jobs are lost forever.
The White House has dropped a bid to cut Social Security payroll taxes as Republicans unveil a $1 trillion COVID-19 rescue package.
The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy.
The Federal Reserve has seen a significant decline of coins in circulation because people are not spending them as regularly at businesses, many of which are either temporarily closed or not accepting cash.
Once you file the extension, you have until Oct. 15 to file your taxes.
Families are normally entitled up to $2,000 annually in refundable tax credits per each child.
The Walmart policy will begin July 20 while Kroger shoppers will be required to wear face coverings in stores starting July 22.
If you haven't filed your taxes yet, you're running out of time. The usual date was pushed back from April 15th to July 15th - which is Wednesday.
Another 1.3 million workers sought unemployment last week, according to the Department of Labor.
As a recent coronavirus resurgence threatens to derail the U.S. economy's gradual recovery from the worst downturn since the Great Depression, the spike in cases has put added pressure on Congress to pass another round of fiscal aid.
While the jobless rate was down from 13.3% in May, it is still at a Depression-era level. And the data was gathered during the second week of June, just before a number of states began to reverse or suspend the reopenings of their economies to try to beat back the virus.
In addition to the VWHC, Walmart introduced the Military Spouse Career Connection on Veterans Day in 2018 to provide employment opportunities for military families.
JCPenney announced last week that it would close 136 across the country and on Monday announced 13 more would be closed. In the 149 total closures in the past five days, ten of the locations are in Michigan.