The economic fallout caused by the coronavirus pandemic includes massive unemployment caused by government-mandated shutdowns of businesses throughout Michigan.
The U.S. Department of Labor (DOL) reported 129,298 Michigan employees filed unemployment claims last week. Government figures indicate that number has increased from nearly 5,338 people filing unemployment claims reported March 14, a difference of more than 123,960. Read More
Nearly 3.3 million Americans filed unemployment claims last week, a record number as businesses were forced to shut down to help slow the spread of the novel coronavirus.
The U.S. Department of Labor reported Thursday that 3.28 million claims were filed in the week that ended March 21. That marked an increase of more than 3 million claims over the week prior, when 282,000 claims were filed.
The previous high in a single week, according to the department, was in October 1982, when about 695,000 claims were filed. The nearly 3.3 million claims filed last week is nearly five times the prior record. Read More
by Evie Fordham Nigel Farage’s Brexit Party snagged 29 of the United Kingdom’s European Parliament seats in Sunday’s election just days after Prime Minister Theresa May announced her resignation. The Brexit Party was the “clear winner” of the UK’s European elections according to BBC, especially when compared with May’s Tories,… Read More
by Molly Prince Democratic Sen. Elizabeth Warren introduced legislation on Tuesday that would establish a government-run pharmaceutical manufacturer to effectively compete with the private market. The Affordable Drug Manufacturing Act seeks to address the increasing prices of prescription drugs by injecting competition into the marketplace, consequently lowering the cost… Read More
by Tim Pearce The number of Americans claiming unemployment insurance fell unexpectedly in late September after economists anticipated destruction from Hurricane Florence to hold claim numbers steady. The number of unemployment filings edged back toward the lowest rate in nearly five decades. The four-week moving average fell to the lowest rate since… Read More
More than half of all workplace tasks will be carried out by machines by 2025, organizers of the Davos economic forum said in a report released Monday that highlights the speed with which the labor market will change in coming years. The World Economic Forum estimates that machines will be… Read More
by Jeffery Rendall Perhaps it’s fitting heading into Labor Day weekend that we should talk about jobs – not necessarily how many Americans have them versus those that don’t and are still searching, but how conditions are improving in the employment market and who’s reaping the benefits. First came… Read More
By Robert Romano One of the conventional wisdoms to do with the tariffs and duties levied by the Trump administration on steel, aluminum and lumber is that they will lead to higher prices and inflation, hurting producers and consumers, thus stunting economic growth. For example, billionaire Charles Koch warned on July… Read More
by Rachel Greszler An economic crisis has engulfed Puerto Rico. The Financial Oversight Management Board, a federally-mandated advisory group, has worked to help Puerto Rico deal with its financial crisis and establish policies that will lead to long-run growth. The board says Puerto Rico must reform its labor market to… Read More
By Natalia Castro President Donald Trump’s infrastructure plan won’t just be looking to refurbish the nation’s bridges and roads but is also aiming at reforming our nation’s educational institutions. To combat some of the most significant problems within our labor force and education system, President Trump has included a… Read More
Labor unions are vying for new, dues-paying members from California’s growing cannabis industry as a state law legalizing recreational pot is only days away from taking full effect. After California residents passed Proposition 64 in 2016, the Golden State became the largest market in the U.S. for recreational marijuana and… Read More
Landscaping businesses who heavily depend on foreign labor are begging the government to expand the number of visas available for workers, as lawns are apparently going unmowed. In a call Thursday with the U.S. Citizenship and Immigration Services, these businesses said without a big increase in the number of H-2B… Read More