For the World Economy, a Grim Slog Tempered by New Hopes

The emergence of vaccines has taken the edge off the worst fears, but a meaningful economic recovery probably remains distant.

#china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #europe, #great-britain, #international-monetary-fund, #international-trade-and-world-market, #italy, #layoffs-and-job-reductions, #moderna-inc, #pfizer-inc, #recession-and-depression, #shutdowns-institutional, #third-world-and-developing-countries, #united-states-economy, #united-states-politics-and-government, #world-bank

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U.S. Economy Stumbles as the Coronavirus Spreads Widely

Claims for new unemployment benefits and other data suggest that the recent increase in infections is threatening the economic recovery.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #labor-and-jobs, #layoffs-and-job-reductions, #shutdowns-institutional, #stimulus-economic, #trump-donald-j, #unemployment, #united-states, #united-states-economy, #united-states-politics-and-government

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Pandemic’s Fiscal Toll on New York City: 5 Takeaways

The city is already facing a nearly $4 billion budget gap next year, as recovery efforts from the coronavirus are hampered by evidence of a second wave.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #de-blasio-bill, #layoffs-and-job-reductions, #new-york-city

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How One Airline’s Pandemic Hurt Becomes Everyone’s Pain

Virgin Atlantic doesn’t act alone to fly passengers. It relies on a constellation of companies employing people around the globe — all of whom are touched by the disappearance of travelers.

#airlines-and-airplanes, #coronavirus-2019-ncov, #great-britain, #labor-and-jobs, #layoffs-and-job-reductions, #swissport-international-ltd, #travel-and-vacations, #virgin-atlantic-airways

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M.L.S. Layoffs Cut League’s Staff by 20 Percent

A combination of layoffs and the elimination of open positions is the latest sign of the coronavirus pandemic’s punishing financial effect on sports.

#coronavirus-2019-ncov, #layoffs-and-job-reductions, #major-league-soccer

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Unemployment Claims Rise as Economic Worries Grow

With coronavirus cases increasing again in the United States, the “fragility of the recovery” is in jeopardy, one economist said.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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Nearly a Third of U.S. Museums Remain Closed by Pandemic, Survey Shows

An industry group says that the financial state of the country’s museums “is moving from bad to worse.”

#american-alliance-of-museums, #coronavirus-2019-ncov, #coronavirus-reopenings, #finances, #layoffs-and-job-reductions, #lott-laura-l, #museums, #quarantine-life-and-culture, #san-diego-natural-history-museum, #united-states

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When Schools Closed, Americans Turned to Their Usual Backup Plan: Mothers

The pandemic is a larger example of a pattern: When unexpected family needs arise, mothers step in.

#child-care, #labor-and-jobs, #layoffs-and-job-reductions, #parenting, #quarantine-life-and-culture, #women-and-girls

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Indian Designer Manish Arora’s Downfall

Manish Arora was the breakout fashion star of India. Today, his business is in tatters, with a trail of debts. What happened?

#coronavirus-2019-ncov, #delhi-india, #fashion-and-apparel, #france, #galliano-john, #handicrafts, #layoffs-and-job-reductions, #luxury-goods-and-services, #rabanne-paco, #shopping-and-retail, #wages-and-salaries

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Pandemic Pushes N.Y.C. Cabbies to the Brink: ‘I Can’t Hold On’

While some businesses have adapted to virus restrictions, the yellow cab industry is especially suffering.

#car-services-and-livery-cabs, #coronavirus-2019-ncov, #layoffs-and-job-reductions, #lyft-inc, #new-york-city, #shutdowns-institutional, #taxicabs-and-taxicab-drivers, #uber-technologies-inc, #unemployment

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Jobs Report Shows Gains but Vulnerability to New Coronavirus Surge

U.S. payrolls grew by 638,000 in October and unemployment fell to 6.9%, but lockdowns could stifle a rebound in restaurant and retail work.

#coronavirus-2019-ncov, #hiring-and-promotion, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #restaurants, #shopping-and-retail, #unemployment, #united-states, #united-states-economy

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Mastercard’s Ajay Banga Took the Long View and Preserved Jobs

In 10 years running Mastercard, Ajay Banga has favored a forward-looking approach.

#banga-ajay, #company-reports, #content-type-personal-profile, #coronavirus-2019-ncov, #credit-cards, #executives-and-management-theory, #labor-and-jobs, #layoffs-and-job-reductions, #mastercard-inc, #stimulus-economic, #wages-and-salaries

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As Britain Locks Down, Officials Work to Keep the Economy Afloat

On Day 1 of new restrictions, the Bank of England and British Treasury announced expanded efforts to support the nation’s finances.

#bank-of-england, #banking-and-financial-institutions, #coronavirus-2019-ncov, #economic-conditions-and-trends, #england, #european-commission, #government-bonds, #gross-domestic-product, #layoffs-and-job-reductions, #politics-and-government, #stimulus-economic, #sunak-rishi-1980

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ESPN to Lay Off 300 Employees

The cuts will affect most divisions across the company, but are especially concentrated in broadcast production.

#espn, #layoffs-and-job-reductions, #pitaro-james-a, #walt-disney-company

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40 Dead, Now 40 Laid Off: Inside a Nursing Home in Crisis

They came to work when death counts were horrific and the risks enormous. Now they fear for their jobs. At one home, they agreed to speak out.

#coronavirus-2019-ncov, #elder-care, #layoffs-and-job-reductions, #new-york-city, #nursing-homes, #staten-island-nyc, #workplace-hazards-and-violations

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Young and Jobless in Europe: ‘It’s Been Desperate’

The pandemic-induced jobs crisis has fallen disproportionately on generation Covid-19, and the effects may be long lasting.

#careers-and-professions, #content-type-personal-profile, #coronavirus-2019-ncov, #europe, #hiring-and-promotion, #internships, #labor-and-jobs, #layoffs-and-job-reductions, #quarantine-life-and-culture, #unemployment, #youth

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M.T.A. Slashes in Service Could Erase 450,000 Jobs

A new report found that service cuts could cost the New York metropolitan area 450,000 jobs by 2022, resulting in $50 billion in lost earnings.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #layoffs-and-job-reductions, #metropolitan-transportation-authority, #new-york-city, #new-york-metropolitan-area, #new-york-university, #subways, #transit-systems

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Salt Lake City to Lose Its Two Daily Print Newspapers

The nearly 150-year-old Salt Lake Tribune and The Deseret News, founded in 1850, said this week that they would continue publishing online and move to weekly printed editions at the end of the year.

#advertising-and-marketing, #coronavirus-2019-ncov, #deseret-news, #layoffs-and-job-reductions, #newspapers, #salt-lake-city-utah, #salt-lake-tribune, #shutdowns-institutional

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Airbnb Fights Its ‘Party House Problem’

Noise. Damages. Safety questions. Airbnb is racing to address the risks posed by partying guests before it goes public.

#accidents-and-safety, #airbnb, #chesky-brian, #initial-public-offerings, #layoffs-and-job-reductions, #murders-attempted-murders-and-homicides, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #start-ups, #travel-and-vacations

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Recession’s Silver Lining: American Households Are Doing Better Than Expected

With few avenues for spending and big purchases on hold, many Americans are saving more and paying off debts, helped by loan deferrals and relief aid.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #credit-cards, #credit-scores, #fair-isaac-corporation, #layoffs-and-job-reductions, #personal-finances, #recession-and-depression, #savings, #stimulus-economic, #united-states-economy

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Why N.Y.C.’s Economic Recovery May Lag the Rest of the Country’s

More than one million residents are out of work, and the unemployment rate is nearly double the national average.

#building-service-employees, #coronavirus-2019-ncov, #labor-and-jobs, #layoffs-and-job-reductions, #local-32bj, #new-school, #new-york-city, #shutdowns-institutional, #unemployment, #zandi-mark

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Trump’s Manufacturing Promises Disappoint as Economy Sours

Foxconn’s failure to deliver on a Wisconsin project underscores the limits of the president’s power to make companies bend to his will.

#coronavirus-2019-ncov, #corporate-taxes, #customs-tariff, #factories-and-manufacturing, #labor-and-jobs, #layoffs-and-job-reductions, #presidential-election-of-2020, #relocation-of-business, #steel-and-iron, #tax-cuts-and-jobs-act-2017, #united-states-economy

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Colleges Slash Budgets in the Pandemic, With ‘Nothing Off-Limits’

Liberal arts departments, graduate student aid and even tenured teaching positions are targets as the coronavirus causes shortfalls.

#budgets-and-budgeting, #colleges-and-universities, #coronavirus-2019-ncov, #layoffs-and-job-reductions, #shutdowns-institutional

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Flight Attendants Face an Uncertain Future

This month, United Airlines and American Airlines furloughed more than 32,000 employees. Many of them are wondering when, or if, they’ll fly again.

#airlines-and-airplanes, #flight-attendants, #layoffs-and-job-reductions

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Oil Industry Turns to Mergers and Acquisitions to Survive

With the price of a barrel stuck around $40 and no recovery in sight, companies are combining to cut costs and ride out the pandemic.

#chevron-corporation, #concho-resources-inc, #conocophillips, #coronavirus-2019-ncov, #devon-energy-corporation, #layoffs-and-job-reductions, #mergers-acquisitions-and-divestitures, #natural-gas, #noble-energy-inc, #oil-petroleum-and-gasoline, #permian-basin-north-america, #prices-fares-fees-and-rates, #shale, #stocks-and-bonds, #texas, #wpx-energy-inc

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This School Was Built for Idealists. It Could Use Some Rich Alumni.

For the past century, the New School produced iconoclastic thinkers. Now it is finding that idealism is very expensive.

#colleges-and-universities, #endowments, #layoffs-and-job-reductions, #manhattan-nyc, #new-school-for-social-research

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Why Students Can’t Get Laptops

A surge in worldwide demand for low-cost laptops has created shipment delays and pitted desperate schools against one another.

#asian-americans, #bensonhurst-brooklyn-ny, #black-people, #borough-park-brooklyn-ny, #brooklyn-nyc, #chinese-americans, #colleges-and-universities, #columbus-dispatch, #computers-and-the-internet, #coronavirus-2019-ncov, #disease-rates, #e-learning, #education, #education-k-12, #education-department-nyc, #families-and-family-life, #football-college, #gates-bill-and-melinda-foundation, #generation-z, #hong-kong, #idaho, #immigration-and-emigration, #iowa, #jews-and-judaism, #laptop-computers, #layoffs-and-job-reductions, #new-york-city, #new-yorker, #north-carolina, #ohio, #private-and-sectarian-schools, #quarantine-life-and-culture, #queens-nyc, #sars-severe-acute-respiratory-syndrome, #shortages, #shutdowns-institutional, #southeast-asia, #tablet-computers, #uniforms, #university-of-florida, #wesleyan-university, #wichita-kan

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Pret A Manger Will Try Anything to Survive

The pandemic made the lunch chain’s biggest strength — hundreds of stores in central London — its biggest weakness overnight.

#christou-pano, #coronavirus-2019-ncov, #coronavirus-reopenings, #food, #layoffs-and-job-reductions, #london-england, #pret-a-manger, #sandwiches

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The News Cycle Is Crushing Seattle’s Vibrant Restaurant Scene

Among the first in the country to go into Covid-19 lockdown, the city has also experienced the effects of protests and wildfires. It has been vertiginous for a dining community shaped by prosperity.

#amazon-com-inc, #bars-and-nightclubs, #boeing-company, #canlis-restaurant-seattle-wa, #dillon-matt, #douglas-tom-chef, #inslee-jay, #jordan-edouardo, #layoffs-and-job-reductions, #quarantine-life-and-culture, #restaurants, #salare-seattle-wash-restaurant, #seattle-wash, #shutdowns-institutional, #stowell-ethan

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Europe’s Economic Recovery Is a Summer Memory

As the coronavirus resumes spreading rapidly across the continent, hopes for an economic revival have given way to diminished expectations.

#coronavirus-2019-ncov, #credit-and-debt, #euro-currency, #europe, #eurozone, #france, #great-britain, #great-britain-withdrawal-from-eu-brexit, #italy, #labor-and-jobs, #layoffs-and-job-reductions, #politics-and-government, #recession-and-depression, #stimulus-economic, #wages-and-salaries

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The Private Sector Can’t Pay for Everything

With stimulus delayed amid waffling by President Trump, employers have been left to fend for themselves. The results have been troubling.

#coronavirus-2019-ncov, #layoffs-and-job-reductions, #tests-medical, #united-states-economy

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‘If No Tourists Come, I Have No Business’: New York’s Tourism Crisis

International arrivals to New York are down as much as 93 percent, and the people and businesses of the city’s tourism industry are on the brink.

#broadway-league, #coronavirus-reopenings, #grand-central-terminal-manhattan-ny, #kennedy-international-airport-queens-ny, #layoffs-and-job-reductions, #mark-hotel-manhattan-ny-hotel, #nycco, #restaurants, #shutdowns-institutional, #taxi-and-limousine-commission, #travel-and-vacations, #travel-warnings, #united-states-travel-assn

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New Stimulus Hopes Fade While Economic Risks Grow

President Trump cut off negotiations over a new aid package on Tuesday. Economists of all stripes agree that could be a costly mistake.

#coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #federal-taxes-us, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #republican-party, #small-business, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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A $200 Winter Round Trip to the Tropics?

The changes airlines are making to survive present a mixed bag for consumers. But cheaper flights are one benefit.

#airlines-and-airplanes, #coronavirus-2019-ncov, #layoffs-and-job-reductions

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Arsenal Laid Off Its ‘Gunnersaurus’ Mascot. A Player Offered to Pay His Salary.

Mesut Ozil, one of soccer’s highest-paid stars, has offered to save the club’s beloved dinosaur mascot, who has been delighting supporters and players for 27 years.

#arsenal-soccer-team, #coronavirus-2019-ncov, #english-premier-league, #layoffs-and-job-reductions, #mascots, #ozil-mesut, #soccer

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For Postal Workers, the Challenges Go Way Beyond Ballots

Ensuring that the nation can vote by mail is just one of many issues facing the Postal Service, most of which will remain after the election is over.

#absentee-voting, #amazon-com-inc, #american-postal-workers-union, #coronavirus-2019-ncov, #coronavirus-risks-and-safety-concerns, #dejoy-louis, #layoffs-and-job-reductions, #masks, #organized-labor, #postal-service-us, #postal-service-and-post-offices, #presidential-election-of-2020, #trump-donald-j, #workplace-hazards-and-violations

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‘The Coal Industry Is Back,’ Trump Proclaimed. It Wasn’t.

The demise of coal-fired power plants in Arizona and Kentucky shows how the president, despite promises to restore jobs, failed to counter the forces decimating the industry.

#arizona, #bureau-of-reclamation, #cameron-scott-j, #coal, #craft-joseph-w-iii, #environmental-protection-agency, #gosar-paul-1958, #grand-canyon-ariz, #greenhouse-gas-emissions, #interior-department, #jewell-sally, #kentucky, #labor-and-jobs, #layoffs-and-job-reductions, #lazard-llc, #mcconnell-mitch, #mines-and-mining, #murray-energy-corp, #murray-robert-e, #navajo-generating-station, #navajo-indians, #obama-barack, #presidential-election-of-2020, #prine-john, #pruitt-scott, #shutdowns-institutional, #solar-energy, #tennessee-valley-authority, #trump-donald-j, #united-mine-workers-of-america, #united-states-economy, #united-states-politics-and-government, #wehrum-william-l, #wheeler-andrew-r, #zinke-ryan-1961

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Workers Face Permanent Job Losses as the Virus Persists

Soon, a wave of people will have been out of work for more than six months, the threshold for long-term unemployment.

#coronavirus-2019-ncov, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #unemployment

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‘They Chose to Stay Open and Fight’

Restaurant workers share their struggles since the pandemic.

#coronavirus-reopenings, #coronavirus-risks-and-safety-concerns, #layoffs-and-job-reductions, #restaurants

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The Pandemic Depression Is Over. The Pandemic Recession Has Just Begun.

Signs of a slower, grinding recovery sure look familiar.

#coronavirus-2019-ncov, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #unemployment

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As Trump’s Diagnosis Spooks G.O.P., Pelosi Projects Optimism on Stimulus Deal

Speaker Nancy Pelosi said the president’s positive coronavirus test could change the dynamic and produce an agreement on additional pandemic relief, but a compromise remained elusive.

#airlines-and-airplanes, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #labor-and-jobs, #layoffs-and-job-reductions, #pelosi-nancy, #republican-party, #stimulus-economic, #trump-coronavirus-positive-result, #trump-donald-j, #unemployment, #united-states-economy, #united-states-politics-and-government

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Jobs Report Shows Further Slowdown in U.S. Economic Recovery

Payrolls grew last month, but permanent layoffs are rising, the labor force is contracting, and fewer women are employed.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #law-and-legislation, #layoffs-and-job-reductions, #shutdowns-institutional, #unemployment, #united-states-economy, #women-and-girls

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Strong Job Growth, a Terrible Job Market: The Bizarre 2020 Economy

At this rate, it will take 17 months for employment to return to full health.

#coronavirus-2019-ncov, #labor-and-jobs, #layoffs-and-job-reductions, #presidential-election-of-2020, #shutdowns-institutional, #united-states-economy

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New Layoffs Add to Worries Over U.S. Economic Slowdown

A standoff over further federal aid and concern over the pandemic’s duration are pushing companies to eliminate jobs.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Airlines, Facing a Slow Recovery, Begin Furloughing Thousands

With few people traveling and lawmakers deadlocked on a stimulus package, American Airlines and United Airlines are cutting more than 30,000 jobs.

#airlines-and-airplanes, #american-airlines, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #delta-air-lines-inc, #law-and-legislation, #layoffs-and-job-reductions, #southwest-airlines-company, #stimulus-economic, #travel-and-vacations, #treasury-department, #united-airlines, #united-states, #united-states-economy, #united-states-politics-and-government

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Hit First by the Coronavirus Pandemic, Arline Workers Seek New Paths

Pilots, flight attendants and other staff are retiring early or taking buyouts and leaves of absence in anticipation of a slow recovery.

#airlines-and-airplanes, #american-airlines, #coronavirus-2019-ncov, #delta-air-lines-inc, #flight-attendants, #labor-and-jobs, #layoffs-and-job-reductions, #pilots, #recession-and-depression, #seniority-systems, #travel-and-vacations, #united-states, #us-airways-group-inc

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Disney Lays Off 28,000, Mostly at Its 2 U.S. Theme Parks

The company said it would eliminate thousands of jobs at its resorts in Florida and California, which have been hit hard by the pandemic.

#amusement-and-theme-parks, #coronavirus-2019-ncov, #disney-walt-world-lake-buena-vista-fla, #disneyland-anaheim-calif, #layoffs-and-job-reductions, #orlando-fla, #walt-disney-company

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Workers Face Looming Cutoffs in Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

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Crowds at the Beijing Auto Show Signal China’s Spenders are Back

Big crowds at places like the Beijing auto show are a sign of good news for a world mired in recession. But China needs its less affluent to spend more before its growth engine can return to full speed.

#china, #consumer-behavior, #coronavirus-2019-ncov, #economic-conditions-and-trends, #layoffs-and-job-reductions

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As Covid-19 Looms, Some Workers Face Loss of Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

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