Empty Office Buildings Squeeze City Budgets as Property Values Fall

A looming hit to tax revenues puts pressure on Congress to deliver relief.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-state-relations-us, #house-of-representatives, #law-and-legislation, #local-government, #property-taxes, #real-estate-commercial, #recession-and-depression, #renting-and-leasing-real-estate, #republican-party, #senate, #shopping-centers-and-malls, #stimulus-economic, #taxation, #united-states-economy, #united-states-politics-and-government

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Stimulus Checks Helped Personal Income Surge in January

Personal income and spending both surged in January as a new round of government checks hit Americans’ bank accounts.

#commerce-department, #consumer-behavior, #coronavirus-2019-ncov, #federal-aid-us, #income, #inflation-economics, #recession-and-depression, #stimulus-economic, #united-states-economy

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Why Top Economists Are Citing a Higher-Than-Reported Jobless Rate

The official rate stood at 6.3 percent in January, but using an expanded metric, Fed and Treasury officials say it’s closer to 10 percent.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #powell-jerome-h, #recession-and-depression, #unemployment, #united-states-economy, #yellen-janet-l

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On the Post-Pandemic Horizon, Could That Be … a Boom?

Signs of economic life are picking up, and mounds of cash are waiting to be spent as the virus loosens its grip.

#coronavirus-2019-ncov, #gross-domestic-product, #labor-and-jobs, #personal-finances, #productivity, #recession-and-depression, #unemployment, #united-states-economy

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When the Bill Comes Due in Europe, ‘How Are We Going to Pay for All This?’

Pandemic aid has cushioned workers and businesses from a severe recession. But as governments face trillions in debt, there’s no rush to rein it in.

#coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #europe, #france, #interest-rates, #le-maire-bruno, #recession-and-depression, #stimulus-economic

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Biden and the Fed Leave 1970s Inflation Fears Behind

Administration and Fed officials argue that workers not getting enough stimulus help is a larger concern than potential spikes in consumer prices.

#american-enterprise-institute-for-public-policy-research, #american-recovery-and-reinvestment-act-2009, #biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #inflation-economics, #interest-rates, #recession-and-depression, #stimulus-economic, #strain-michael-r, #summers-lawrence-h, #unemployment, #united-states, #united-states-economy, #yellen-janet-l

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The Clash of Liberal Wonks That Could Shape the Economy, Explained

They all agree pandemic aid is warranted, but the question is how big and how quickly.

#biden-joseph-r-jr, #economic-conditions-and-trends, #inflation-economics, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy

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Fighting Covid Is Like Fighting a War

Why Biden needs to go big and ignore the worriers.

#biden-joseph-r-jr, #committee-for-a-responsible-federal-budget, #congressional-budget-office, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #polls-and-public-opinion, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy

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January 2021 Jobs Report: Outlook for Economic Recovery Dims

With a gain of 49,000 jobs in January, and with few of those in the private sector, the labor market offers little relief to the nearly 10 million Americans who are unemployed.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-aid-us, #labor-and-jobs, #labor-department-us, #recession-and-depression, #unemployment, #united-states-economy, #united-states-politics-and-government

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The Jobs Crisis Is Broader Than It Seemed

January employment numbers suggest a stalling of progress toward a full recovery.

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

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Europe’s Slow Pace of Vaccinations Opens Door to Recession

A double-dip recession in the European Union appears likely after the trade bloc reported a decline in economic output in the last quarter of 2020.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #europe, #european-union, #eurozone, #gross-domestic-product, #recession-and-depression, #vaccination-and-immunization

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PPP Aid to Small Businesses: How Much Did $500 Billion Help?

Some economists say the Paycheck Protection Program has not proved as useful as other aid. The debate could sway the new administration’s plans.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #shutdowns-institutional, #small-business, #stimulus-economic, #united-states-economy

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Biden and Top Economic Officials Stress Urgency of More Pandemic Aid

The president’s economic advisers are increasingly worried about the faltering recovery and the economic outlook.

#coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #patient-protection-and-affordable-care-act-2010, #recession-and-depression, #united-states-economy, #united-states-politics-and-government

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America’s Next Great Economic Experiment: What if We Run It Hot?

Supporters of aggressive stimulus see an opportunity to finally correct the mistakes of the last recession and achieve boom times quickly.

#biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #inflation-economics, #labor-and-jobs, #recession-and-depression, #stimulus-economic, #unemployment, #united-states-economy

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The First Post-Reagan Presidency

So far, Joe Biden has been surprisingly progressive.

#a-promised-land-book, #appointments-and-executive-changes, #bernstein-jared, #biden-joseph-r-jr, #conservatism-us-politics, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #economics-theory-and-philosophy, #emanuel-rahm, #environment, #executive-orders-and-memorandums, #filibusters-and-debate-curbs, #food-stamps, #hawley-josh-d-1979, #house-of-representatives, #inflation-economics, #interest-rates, #khanna-ro, #leftism-us-politics, #liberalism-us-politics, #minimum-wage, #national-debt-us, #new-deal-1930s, #obama-barack, #politics-and-government, #presidential-election-of-2008, #presidential-election-of-2020, #primaries-and-caucuses, #progressivism-us-politics, #reagan-ronald-wilson, #recession-and-depression, #republican-party, #roosevelt-franklin-delano, #sanders-bernard, #senate, #skowronek-stephen, #stimulus-economic, #tax-credits-deductions-and-exemptions, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization, #warren-elizabeth

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Who Owns Stocks? Explaining the Rise in Inequality During the Pandemic

Bad economies usually hurt both workers and investors. Only the first part has been true this time.

#black-people, #coronavirus-2019-ncov, #high-net-worth-individuals, #income-inequality, #labor-and-jobs, #recession-and-depression, #stocks-and-bonds, #united-states-economy

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How Our Unemployment Benefits System Failed

A decline in funding and changes in the workplace — and how long people are out of work — have left a program unequal to the 21st-century economy.

#federal-state-relations-us, #labor-and-jobs, #law-and-legislation, #recession-and-depression, #states-us, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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How Full Employment Became Washington’s Creed

Policymakers are eager to return to the period of low unemployment that preceded the pandemic and are less concerned than in previous eras about sparking inflation and taking on debt.

#daly-mary-c, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #recession-and-depression, #stimulus-economic, #treasury-department, #unemployment, #united-states-economy

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When Biden Becomes … Rooseveltian!

Using a crisis to reduce child poverty and make America more truly a land of opportunity.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #food-insecurity, #great-depression-1930s, #income-inequality, #new-deal-1930s, #poverty, #recession-and-depression, #roosevelt-franklin-delano, #tax-credits-deductions-and-exemptions, #united-states, #united-states-economy, #united-states-politics-and-government

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What Can We Expect After the Pandemic?

Four new books look at life after the virus and reach startlingly different conclusions.

#blakeley-grace-1993, #books-and-literature, #coronavirus-2019-ncov, #galloway-scott, #gordon-bob-author, #life-after-covid-19-lessons-from-past-pandemics-book, #post-corona-from-crisis-to-opportunity-book, #recession-and-depression, #rickards-james-g, #the-corona-crash-how-the-pandemic-will-change-capitalism-book, #the-new-great-depression-winners-and-losers-in-a-post-pandemic-world-book

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The federal government ran another record deficit in December.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #recession-and-depression, #treasury-department, #united-states-economy

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Even With $900 Billion Stimulus, Biden Faces Fragile Economy

Despite new pandemic aid, he confronts an economic crisis unlike any since he last entered office in 2009. And political headwinds have only stiffened.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-aid-us, #income-inequality, #presidential-transition-us, #recession-and-depression, #republican-party, #senate, #stimulus-economic, #united-states-economy, #white-house-council-of-economic-advisers

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Most Americans Are Expected to Save, Not Spend, Their $600 Check

While lawmakers debate increasing the stimulus payments to $2,000, experts say it would make far more sense to give more money to the unemployed.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #income-inequality, #labor-and-jobs, #law-and-legislation, #philanthropy, #recession-and-depression, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states, #united-states-economy, #united-states-politics-and-government

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Obamacare, in Its First Big Test as Safety Net, Is Holding Up So Far

Job losses and the loss of insurance have typically gone hand in hand. This year, more Americans are staying covered.

#health-insurance-and-managed-care, #layoffs-and-job-reductions, #medicaid, #patient-protection-and-affordable-care-act-2010, #recession-and-depression

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The Year Inequality Became Less Visible, and More Visible Than Ever

Even as shared public spaces emptied out, the gap between the economically privileged and the precarious became impossible to ignore.

#coronavirus-2019-ncov, #delivery-services, #great-depression-1930s, #income-inequality, #labor-and-jobs, #recession-and-depression

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Stimulus Deal Provides Economic Relief, for Now

The aid package will keep millions from losing jobless benefits. But it comes too late to prevent lasting damage to many families and businesses.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #house-of-representatives, #labor-and-jobs, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #senate, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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Congress Drops State Aid to Secure Stimulus, A Challenge for Biden

A campaign by conservative activists and disputes over how to divvy up federal assistance have thwarted negotiators. But President-elect Joe Biden will make a new push for such funding next year.

#americans-for-tax-reform, #biden-joseph-r-jr, #budgets-and-budgeting, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #law-and-legislation, #norquist-grover-g, #recession-and-depression, #republican-party, #senate, #states-us, #taxation

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What Happens to the Unemployed When the Checks Run Out

Millions face a steep and immediate drop in spending power when federal jobless benefits end this month, with a sharp rise in the poverty rate.

#consumer-behavior, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #personal-finances, #poverty, #recession-and-depression, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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As Pandemic Threatens Britain’s Mental Health, These ‘Fishermen’ Fight Back

A charity called the Bearded Fishermen has begun a nightly suicide-prevention patrol around a town in England, looking for people in crisis.

#anxiety-and-stress, #coronavirus-2019-ncov, #deaths-fatalities, #great-britain, #recession-and-depression, #samaritans, #suicides-and-suicide-attempts

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After Biden Win, Nation’s Republicans Fear the Economy Ahead

Polling shows that Republicans have turned bearish on the outlook for their family finances since the election, while Democratic optimism is rising.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #polls-and-public-opinion, #presidential-election-of-2020, #recession-and-depression, #republican-party, #surveymonkey, #united-states-economy

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Biden and His Economic Team Urge Quick Action on Stimulus as Risks Mount

The president-elect introduced key nominees in Delaware, while lawmakers exchanged new proposals with prospects for a deal still dim.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #income-inequality, #politics-and-government, #recession-and-depression, #senate, #states-us, #stimulus-economic, #unemployment, #united-states-economy, #united-states-politics-and-government

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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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Pushed by Pandemic, Amazon Goes on a Hiring Spree Without Equal

The company has added 427,300 employees in 10 months, bringing its global work force to more than 1.2 million.

#amazon-com-inc, #computers-and-the-internet, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #delivery-services, #e-commerce, #hiring-and-promotion, #labor-and-jobs, #recession-and-depression, #shopping-and-retail, #wages-and-salaries, #workplace-hazards-and-violations

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In Praise of Janet Yellen the Economist

She never forgot that economics is about people.

#federal-reserve-system, #inflation-economics, #presidential-election-of-2020, #recession-and-depression, #subprime-mortgage-crisis, #treasury-department, #united-states-economy, #yellen-janet-l

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Even in a Pandemic, the Billionaires Are Winning

While many Americans suffered, the richest among us kept getting richer.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #high-net-worth-individuals, #income-inequality, #recession-and-depression, #united-states-economy

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Gavin Newsom’s French Laundry Dinner: What Was He Thinking?

A lavish dinner helped reinforce the idea that California’s government is a mess of bureaucratic dysfunction and aristocratic indifference.

#california, #coronavirus-2019-ncov, #french-laundry-yountville-calif-restaurant, #great-depression-1930s, #newsom-gavin, #recession-and-depression, #unemployment, #unemployment-insurance

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Biden Team, Pushing Quick Stimulus Deal, Prepares for Renewed Recession

Economists warn that lawmakers must pass aid now, as a renewed coronavirus surge chills consumer spending and business activity.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-budget-us, #house-of-representatives, #labor-and-jobs, #law-and-legislation, #presidential-transition-us, #recession-and-depression, #republican-party, #senate, #small-business, #stimulus-economic, #unemployment, #united-states-economy, #united-states-politics-and-government

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Recession With a Difference: Women Face Special Burden

Hit hard by job losses and the pandemic’s effect on schooling and child care, American women face short-term difficulties and long-term repercussions.

#careers-and-professions, #child-care, #coronavirus-2019-ncov, #families-and-family-life, #income, #labor-and-jobs, #parenting, #recession-and-depression, #shutdowns-institutional, #united-states-economy, #women-and-girls

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‘How Did We Not Know?’ Gun Owners Confront a Suicide Epidemic

The toll of self-inflicted gun deaths has led to an unusual alliance between suicide-prevention advocates and gun-rights proponents.

#anxiety-and-stress, #brady-campaign-to-prevent-gun-violence, #depression-mental, #firearms, #gun-control, #mental-health-and-disorders, #national-rifle-assn, #national-shooting-sports-foundation, #recession-and-depression, #second-amendment-us-constitution, #spokane-wash, #suicides-and-suicide-attempts, #washington-state, #your-feed-health, #your-feed-science

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Economic Demands Test Biden Even Before Inauguration

With the recovery slowing and coronavirus cases surging, Democrats must decide whether quick action on federal aid is more important than its scale.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #house-of-representatives, #recession-and-depression, #republican-party, #senate, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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While the Pandemic Wrecked Some Businesses, Others Did Fine. Even Great.

Third-quarter financial results suggest that strong companies have gotten stronger and that some others are in dire straits.

#airlines-and-airplanes, #automobiles, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #recession-and-depression, #restaurants, #shutdowns-institutional, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #travel-and-vacations, #united-states-economy

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Why the Biden Economy Could Be the Same Long Slog as the Obama Economy

With continuing Republican control of the Senate likely, the sort of large-scale stimulus some economists have urged may be off the table.

#biden-joseph-r-jr, #economic-conditions-and-trends, #federal-reserve-system, #powell-jerome-h, #recession-and-depression, #stimulus-economic, #united-states-economy

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The Economy Is Healing. But Not Fast Enough to Prevent Serious Damage.

The jobs report suggests a continued rebound but also long-lasting scars.

#labor-and-jobs, #recession-and-depression, #unemployment, #united-states-economy

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The Economy Is Down. Why Are Home Prices Up?

Government efforts to stimulate growth are lifting markets of all kinds everywhere.

#banking-and-financial-institutions, #mortgages, #real-estate-and-housing-residential, #recession-and-depression, #united-states-economy

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Europe Risks a New Economic Downturn as Lockdowns Return

Record quarterly growth inspires little joy as the threat of a double-dip recession looms.

#coronavirus-2019-ncov, #daimler-ag, #economic-conditions-and-trends, #european-central-bank, #european-union, #eurozone, #gross-domestic-product, #ing-groep-nv, #international-monetary-fund, #korngold-erich-wolfgang, #lagarde-christine, #minder-raphael, #mkg-productions-inc, #quarantines, #recession-and-depression, #stimulus-economic, #theatre-royal-de-la-monnaie-brussels-belgium

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Why Blue Places Have Been Hit Harder Economically Than Red Ones

The different mix of jobs is a big driver, but there are other factors, too.

#coronavirus-2019-ncov, #labor-and-jobs, #recession-and-depression, #unemployment, #urban-areas

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Economy’s Big Rebound Leaves a Shortfall as Progress Slows

Third-quarter growth set a record, fueled by federal assistance. But recent signs point to a loss of momentum in job gains and production.

#commerce-department, #coronavirus-2019-ncov, #coronavirus-reopenings, #gross-domestic-product, #labor-and-jobs, #recession-and-depression, #shutdowns-institutional, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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The American Economy Was Hit by a Bus. It’s Healing, but Slowly.

Why the G.D.P. numbers out today can mislead.

#coronavirus-2019-ncov, #gross-domestic-product, #recession-and-depression, #stimulus-economic, #united-states-economy

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The Mystery of How Many Mothers Have Left Work Because of School Closings

How one researcher arrived at a figure of more than a million and a half.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #education-k-12, #labor-and-jobs, #parenting, #recession-and-depression, #shutdowns-institutional, #women-and-girls

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It’s Time to Talk About Social Security. No More Waiting.

Even before the pandemic, Social Security’s finances were under growing pressure. The next president and Congress will play a crucial role in what happens next.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-taxes-us, #payroll-tax, #presidential-election-of-2020, #recession-and-depression, #retirement, #social-security-us, #trump-donald-j, #united-states-politics-and-government

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