Jobless claims fall to 779,000; layoffs grind on
The number of Americans seeking unemployment benefits fell to 779,000 last week, a historically high total that shows that a sizable number of people are still losing jobs to the viral pandemic.
Democrats urge Biden to cancel up to $50k in student loan debt by executive action
The resolution called on President Biden to take executive action to "administratively cancel up to $50,000 in Federal student loan debt for Federal student loan borrowers" using "existing legal authorities" under the Higher Education Act of 1965.
'I am optimistic now': Post-pandemic hiring could rebound quickly
A hopeful view is gaining steam that as vaccinations reach a critical mass, perhaps around midyear, and the government provides further stimulus, the economy and the job market will strengthen much faster than they did after previous recessions.
Texas AG Ken Paxton launches investigation into Robinhood, hedge funds over GameStop
Texas officials will demand records on user restrictions from the trading app, Robinhood and several online brokerages.
Amid GameStop and AMC frenzy, Citron Research discontinues reports on short selling
The investment firm Citron Research has discontinued its practice of providing reports on short selling. Here’s what that means.
Robinhood tells customers it will allow ‘limited buys’ amid GameStop, AMC trading frenzy
Robinhood, the online trading platform at the center of a speculative frenzy involving shares of GameStop, AMC and other flailing companies, told its customers Thursday that it would be allowing “limited buys” of these companies starting Friday.
GameStop stock frenzy: Robinhood, others limit trading, sparking lawsuit and Senate panel hearing
Robinhood and other online trading platforms moved to restrict trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors.
US economy shrank 3.5% in last year after growing 4% last quarter
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
Unemployment claims drop; still at 847,000 as pandemic rages on
The number of Americans applying for unemployment benefits fell to a historically high 847,000 last week, a sign that layoffs remain high as the coronavirus pandemic continues to rage.
Janet Yellen wins Senate approval to become 1st female Treasury secretary
Janet Yellen has been confirmed as Biden’s treasury secretary in an overwhelming Senate vote, the first woman to hold the job in the department's 232-year history.
Biden signs executive order for government to buy more US goods
President Joe Biden signed on Monday an executive order that aims to boost government purchases from U.S. manufacturers, according to administration officials.
Biden signs executive orders on $15 minimum wage for federal workers, food aid increases
President Joe Biden plans to take executive action to provide a stopgap measure of financial relief to millions of Americans.
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.
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.
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.
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.
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.
Parents could get up to $1,100 in stimulus money per child born in 2020
Parents who had one or more children born in 2020 could receive up to $1,100 in extra stimulus money per child, according to IRS guidelines.