There were only two insightful reports on the economy this past week—for jobs and housing. Both show impressive gains.
Weekly initial unemployment claims fell by 56,000, to 787,000. They are down more than 100,000 from a month ago. There has also been a substantial decline in the insured unemployment rate to 5.7 percent from 8.7 percent a month ago. Also, the number of people receiving unemployment insurance payments fell to 8.4 million; it was 12.6 million a month ago. Read More
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed.
The following are developments Tuesday related to the national and global response, the workplace, the spread of the virus, and the marketplace economy. Read More
An executive order from Gov. Tim Walz bans evictions, foreclosures, and lease terminations for the duration of the state’s peacetime emergency, but one Democratic lawmaker wants to take things a step further. State Sen. Jeff Hayden (DFL-Minneapolis) recently called for a “rent and mortgage moratorium” in Minnesota, an idea… Read More
Rep. Ilhan Omar’s (D-MN-05) new “Homes for All Act” would cost more than $1 trillion over a 10-year period and has a goal of building 12 million “public and affordable” housing units. Read More