Economy

2021-05-17 15:32:16
by Kate Michael
Granholm Says Green Jobs a Matter of ‘Economic Patriotism’

WASHINGTON — The Biden administration’s push to tackle several crises at once has reenergized the push for green jobs or... Read More

WASHINGTON — The Biden administration’s push to tackle several crises at once has reenergized the push for green jobs or those jobs which contribute to preserving or restoring the environment, including those in traditional sectors, like manufacturing.  His American Jobs... Read More

2021-05-17 15:29:14
by Dan McCue
How Consumers Created A Pop-Up Gas Crisis

It was a scene that repeated itself at intersection after intersection in the District and surrounding communities in Virginia and... Read More

It was a scene that repeated itself at intersection after intersection in the District and surrounding communities in Virginia and Maryland this past weekend. Desperate-faced drivers, their knuckles taut against their steering wheels, slowly moving past lonely gas pumps and... Read More

Desperate for Workers, US Restaurants and Stores Raise Pay

WASHINGTON (AP) — U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and... Read More

WASHINGTON (AP) — U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and keep up with a flood of customers as the pandemic eases. McDonald's, Sheetz and Chipotle  are just some of the... Read More

COVID-19 Pet Boom Has Veterinarians Backlogged, Burned Out

FORT LAUDERDALE, Fla. (AP) — During the gloomiest stretches of the pandemic, Dr. Diona Krahn's veterinary clinic has been a... Read More

FORT LAUDERDALE, Fla. (AP) — During the gloomiest stretches of the pandemic, Dr. Diona Krahn's veterinary clinic has been a puppy fest, overrun with new four-legged patients.  Typically, she'd get three or four new puppies a week, but between shelter... Read More

2021-05-07 20:02:33
by Alexa Hornbeck
How Income Volatility Impacts Health Decisions

This week the Centers for Disease Control and Prevention National Center for Health Statistics released data that the U.S. birth... Read More

This week the Centers for Disease Control and Prevention National Center for Health Statistics released data that the U.S. birth rate is the lowest it’s been since 1979, and one theory on why this is happening is younger individuals who... Read More

2021-05-07 19:54:36
by Daniel Mollenkamp
Middle East Needs to Move to 'A New Economic Model,' According to IMF Official

An official from the International Monetary Fund argued this week that the Middle East and Central Asia regions should shift... Read More

An official from the International Monetary Fund argued this week that the Middle East and Central Asia regions should shift towards a new and inclusive economic model as they emerge from the pandemic, echoing IMF claims that this is the... Read More

2021-05-07 16:10:19
by Victoria Turner
US Employment Situation Improves Slowly but Surely

With the US unemployment rate essentially unchanged from March to April from 6.0% to 6.1% respectively, the American state of... Read More

With the US unemployment rate essentially unchanged from March to April from 6.0% to 6.1% respectively, the American state of employment seems to continue on its positive track, according to the Bureau of Labor Statistics latest report.  Employment in nonfarm... Read More

2021-05-03 21:38:37
by Reece Nations
$28.6 Billion Restaurant Revitalization Fund Open for Enrollment

The Small Business Administration began accepting applications on Monday for the Restaurant Revitalization Fund, a program authorized in March by... Read More

The Small Business Administration began accepting applications on Monday for the Restaurant Revitalization Fund, a program authorized in March by the passage of the American Rescue Plan Act. To receive funding, businesses must submit their application to the SBA on... Read More

2021-05-03 20:47:27
by Tom Ramstack
Republicans Claim $15 Minimum Wage Would Hurt U.S. Jobs and Businesses

WASHINGTON -- The Biden administration’s pledge to up the wages and fair labor standards of low-income workers hit a roadblock... Read More

WASHINGTON -- The Biden administration’s pledge to up the wages and fair labor standards of low-income workers hit a roadblock among Republicans during a congressional hearing Monday. The intentions are good but the economics are bad, according to critics who... Read More

Yellen: Biden's Phased-in Spending Plan Won't Fuel Inflation

WASHINGTON (AP) — President Joe Biden's massive proposed spending on infrastructure, families and education will not fuel inflation because the... Read More

WASHINGTON (AP) — President Joe Biden's massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have portrayed... Read More

Help Wanted: In Pandemic, Worry About Finding Summer Workers

BOSTON (AP) — The owner of seafood restaurants on Cape Cod has eliminated lunch service and delayed the opening of... Read More

BOSTON (AP) — The owner of seafood restaurants on Cape Cod has eliminated lunch service and delayed the opening of some locations because his summertime influx of foreign workers hasn't arrived yet.  More than a thousand miles away, a Jamaican... Read More

2021-04-19 20:07:32
by Reece Nations
Lower Employment Figures Spur Concern for Airline Industry

WASHINGTON — As the industry continues to rally back from the lifting of pandemic travel restrictions, some passenger airline companies... Read More

WASHINGTON — As the industry continues to rally back from the lifting of pandemic travel restrictions, some passenger airline companies are still struggling to retain full-time employees. February employment figures for airlines were down nearly 1% from January, according to... Read More

2021-04-16 13:25:59
by Tom Ramstack
Disease Experts Look to the End Of Pandemic But Aren't Sure When

WASHINGTON -- As the U.S. death toll reached 564,000 from COVID-19, the nation’s top disease experts said Thursday normal life... Read More

WASHINGTON -- As the U.S. death toll reached 564,000 from COVID-19, the nation’s top disease experts said Thursday normal life will return for Americans only when enough of them get vaccinated. But with more than 70,000 new infections daily, they... Read More

US Jobless Claims Plunge to 576,000, Lowest Since Pandemic

WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession.  The Labor Department said Thursday... Read More

2021-04-14 13:55:47
by Tom Ramstack
Tourism Industry, Still Weak, Looking for Help

WASHINGTON -- The U.S. economy is continuing its recovery from the COVID-19 pandemic but not fast enough for tourism officials... Read More

WASHINGTON -- The U.S. economy is continuing its recovery from the COVID-19 pandemic but not fast enough for tourism officials who testified before a Senate subcommittee Tuesday. They said their industry was the hardest hit during the pandemic shutdown and... Read More

2021-04-14 13:52:27
by Kate Michael
‘People can’t buy what can’t be delivered’: Addressing Global Supply Chain Vulnerabilities

WASHINGTON — We all remember last year’s short-term stampede for toilet paper. But while stores were able to eventually restock... Read More

WASHINGTON — We all remember last year’s short-term stampede for toilet paper. But while stores were able to eventually restock personal products and cleaning supplies, will we be able to do the same with a shortage of semiconductors and other... Read More

2021-04-13 18:08:10
by TWN Staff
U.S. Airline Struggles Continue a Year After Onset of Pandemic

WASHINGTON - U.S. airlines carried 61% fewer passengers in February 2021 than in February 2020, according to preliminary data from... Read More

WASHINGTON - U.S. airlines carried 61% fewer passengers in February 2021 than in February 2020, according to preliminary data from the U.S. Transportation Department. The analysis, which was carried out by the department's Bureau of Transportation Statistics, suggests airlines serving... Read More

2021-04-09 14:32:23
by Victoria Turner
‘Devil is in the Details’ of Corporate Tax Reform

Just as corporations and tax practitioners are beginning to adjust to the 2017 Tax Cuts and Jobs Act, the Biden... Read More

Just as corporations and tax practitioners are beginning to adjust to the 2017 Tax Cuts and Jobs Act, the Biden administration’s proposed changes would introduce further complexities into an already complicated system, according to three U.S.-based tax attorneys. Biden’s proposal... Read More

Ready to Buy a Home? The Trick is Finding or Affording One

LOS ANGELES (AP) — Nathan Long and Lili Chin have struck out so far in their four-month search to find... Read More

LOS ANGELES (AP) — Nathan Long and Lili Chin have struck out so far in their four-month search to find an affordable home in the Los Angeles area — a cold streak that threatens to mess up their anniversary plans.... Read More

US Jobless Claims Up to 744K as Virus Still Forces Layoffs

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers are still cutting jobs even as more people are vaccinated against COVID-19, consumers gain confidence and the government distributes aid... Read More

2021-04-07 18:40:09
by TWN Staff
U.S. Trade Deficit Hits Record High in February

WASHINGTON — The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more... Read More

WASHINGTON — The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more quickly than that of other nations carefully shaking off the economic hardships associated with the coronavirus pandemic. The trade deficit... Read More

2021-03-30 20:11:23
by Daniel Mollenkamp
Global Economy to See Multi-Speed Recovery

The pandemic has caused profound and long-lasting changes to the global economy. However, the world also has a narrow window... Read More

The pandemic has caused profound and long-lasting changes to the global economy. However, the world also has a narrow window to avoid throwing lots of people into more uncertainty, insecurity, and poverty, said an executive from the International Monetary Fund... Read More

2021-03-24 13:07:39
by Daniel Mollenkamp
COVID-19 Sniffing Dogs are Here to Stay, but Will They Make a Difference?

ATLANTA — On Sunday, NASCAR joined the list of places using coronavirus-sniffing dogs as a tool to battle the virus's... Read More

ATLANTA — On Sunday, NASCAR joined the list of places using coronavirus-sniffing dogs as a tool to battle the virus's spread. The dogs can be taught to speedily screen large, busy crowds. This, together with the low cost involved in... Read More

Supply Bottlenecks Leave Ships Stranded, Businesses Stymied

NEW YORK (AP) — A trade bottleneck born of the COVID-19 outbreak has U.S. businesses anxiously awaiting goods from Asia... Read More

NEW YORK (AP) — A trade bottleneck born of the COVID-19 outbreak has U.S. businesses anxiously awaiting goods from Asia — while off the coast of California, dozens of container ships sit anchored, unable to unload their cargo.  The pandemic... Read More

2021-03-19 20:14:26
by Sara Wilkerson
Chicago Expanding Outdoor Dining and Creative Spaces

CHICAGO – The City of Chicago announced a new initiative called Chicago Alfresco, which seeks to not only expand the... Read More

CHICAGO – The City of Chicago announced a new initiative called Chicago Alfresco, which seeks to not only expand the city’s outdoor dining program but also allow businesses and non-profit organizations to design creative long-term outdoor spaces. The initiative is... Read More

2021-03-18 20:55:55
by Victoria Turner
Essential Workers Deserve More Than Praise

Lisa Harris has not physically seen her family since the beginning of the pandemic just to keep them safe from... Read More

Lisa Harris has not physically seen her family since the beginning of the pandemic just to keep them safe from her. She is one of the 50 million essential workers fearing the virus every day, yet still going into work... Read More

2021-03-17 20:05:07
by Tom Ramstack
Infrastructure Investment Steers U.S. Out of Recession

WASHINGTON -- Congress sent clear signals this week that clean energy technology and the infrastructure to support it will provide... Read More

WASHINGTON -- Congress sent clear signals this week that clean energy technology and the infrastructure to support it will provide a path to help the nation’s economy recover from the COVID-19 pandemic. In two hearings, economists and lawmakers bemoaned the... Read More

In Pennsylvania, Biden Showcases Aid to Small Businesses

CHESTER, Pa. (AP) — President Joe Biden turned up at a minority-owned flooring business in suburban Philadelphia to highlight how... Read More

CHESTER, Pa. (AP) — President Joe Biden turned up at a minority-owned flooring business in suburban Philadelphia to highlight how his $1.9 trillion coronavirus relief package can help small businesses and to put a face on those who have struggled... Read More

2021-03-16 21:44:23
by Victoria Turner
Biden Administration's Antitrust: Traditional or Transformational?

The Biden administration has talked a big game on beefing up enforcement in market competition and it will undoubtedly bring... Read More

The Biden administration has talked a big game on beefing up enforcement in market competition and it will undoubtedly bring more competition cases to court, said Bill Kovacic, a former regulator at the Federal Trade Commission.  The new leadership, however,... Read More

2021-03-16 21:41:21
by Reece Nations
‘K-Shaped’ COVID-19 Recovery Deepens Economic Disparity

While the onset of the novel coronavirus pandemic has had drastic ramifications for the United States’ economy, its toll has... Read More

While the onset of the novel coronavirus pandemic has had drastic ramifications for the United States’ economy, its toll has been unevenly harsh for the country’s poorest citizens.  Following a recession, a “K-shaped recovery” occurs when different segments of the... Read More

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