Unemployment claims fall to a still-high 900,000
Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic.
Wall Street stocks rally to records on Inauguration Day 2021
U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
Janet Yellen, Biden's Treasury secretary pick, pushes for quick passage of $1.9 trillion COVID-19 relief plan
Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget deficits.
IRS delays start of 2021 tax filing season to Feb. 12
The Internal Revenue Service will delay the start of tax filing season until Feb. 12, 2021, which pushes the date when the tax agency will begin accepting and processing 2020 tax year returns.
Jobless claims jump to 965,000 as COVID-19 pandemic takes toll
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and evidence that the resurgent virus has caused a spike in layoffs.
Biden eyes child tax credit expansion among stimulus measures: Report
President-elect Joe Biden is imminently expected to outline his plans for additional stimulus measures as the U.S. battles surging COVID-19 cases.
IRS and Treasury to stop sending stimulus checks this week
Legislation providing for the $600 payments, which was approved by lawmakers at the end of last month, stipulated that the departments needed to issue all payments by Friday.
Taxes on unemployment money coming due soon, surprising many
Many California jobseekers are confused about withholding taxes on their unemployment checks, and many more report that they simply can’t afford to put aside any money when they don’t have enough to begin with.
Schumer pledges quick delivery of $2,000 stimulus checks: 'We will get that done'
Senate Democrats plan to make another coronavirus relief package — including sending an additional stimulus payment to many Americans — one of their top priorities for the year once they assume control of the chamber.
Labor Department estimates $36B in improper unemployment payments in CARES Act
The government allocated $360 billion in total unemployment funding in the $2.2 trillion CARES Act, which passed in March.
Unemployment continues to hurt low-income workers amid pandemic
Ten months into America’s viral outbreak, low-income workers are still bearing the brunt of job losses — an unusual and harsh feature of the pandemic recession that flattened the economy last spring.
Wisconsin COVID-19 relief bill about more than money
The bill would make $100 million available to help fight COVID-19. However, many of the 44 provisions in the bill have nothing to do with money.
US lost 140,000 jobs in December; first monthly loss since spring
U.S. employers shed jobs last month for the first time since April, cutting 140,000 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses.
Jobless claims slip to still-high 787,000 in the US
The number of Americans seeking unemployment aid fell slightly to 787,000, evidence of a job market stumbling in the face of the viral pandemic and the damage it has inflicted on the economy for nearly 10 months.
US companies slash jobs for the first time since April, ADP report shows
The report showed that private employers shed 123,000 jobs last month, large companies announcing for the bulk of layoffs.
Federal checks salvage otherwise dreadful 2020 for US farms
Farmers faced challenges throughout the year, including the impact of trade disputes, weather difficulties and low prices that drove down cash receipts.
Unemployment benefit claims unexpectedly fall as coronavirus lockdowns widen
The number of Americans filing for first-time unemployment benefits fell last week amid a rise in COVID-19 infections and new restrictions aimed at slowing the spread of the disease.
McConnell blocks immediate Democratic push for $2,000 stimulus checks
Senate Majority Leader Mitch McConnell on Tuesday blocked Democrats' push to immediately bring President Donald Trump's demand for bigger $2,000 COVID-19 relief checks up for a vote.
McConnell praises Trump for signing COVID-19, government funding bills
Senate Majority Leader Mitch McConnell praised President Trump late Sunday for signing a $900 billion pandemic package and a $1.4 trillion government funding bill to avert a government shutdown.
'It does break my heart a little bit': A bleak Christmas for America's unemployed
Millions of Americans have been jobless since the viral pandemic ripped through the U.S. economy in March, triggering a deep recession and causing widespread unemployment.