COMMENTARY: Trump economic rebound | Opinion

Since the pandemic struck, the president’s economic leadership has also been bold and decisive. For example, in May, the president signed an executive order on Regulatory Relief to Support Economic Recovery that directed Cabinet and agency heads to use, to the fullest extent possible, any emergency authorities available to support the economic response to the virus. In August, the Environmental Protection Agency exercised such emergency authority to allow airlines to use an innovative and proven product to clean commercial airliners between flights, giving added confidence for the American people to safely travel.

Another Trump post-pandemic economic effort is The Pledge to America’s Workers and the White House Initiative on Industries of the Future. Both are spearheaded by Ivanka Trump and centered on jumpstarting high-tech job training and bolstering American dominance in transformational industries such as 5G wireless broadband, quantum computing and artificial intelligence. These are the sectors that will determine

Read More

Continue Reading

Second stimulus check: update on coronavirus economic relief bill

With issues such as the replacement of Supreme Court Justice Ruth Bader Ginsburg now dominating the attention in Washington, hopes continue to fade that United States lawmakers will be able to pass a pre-election coronavirus relief package – and, with it, potentially a second stimulus check.

Agreement over stimulus check, but relief-bill talks at impasse

US President Donald Trump has stated his support for another round of stimulus checks, while Republicans and Democrats in Congress have both proposed that Americans receive a fresh direct payment, following on from the checks sent out as part of the CARES Act, a $2.2tn relief bill signed into law in March.

Democrats sought a second check of up to $1,200 in the $3.4 HEROES Act, a bill passed by the House in May but not taken up by the Republican-held Senate. Meanwhile, the GOP planned a stimulus check of the same

Read More

Continue Reading

New tool shows economic impact of COVID-19 in Washington

A new tool shows the economic effects of COVID-19 across Washington, the state Department of Commerce said Monday.

“The economic impact of COVID-19 on individuals, families and businesses is like nothing we’ve ever seen before,” Commerce Director Lisa Brown said in a press release. “The depth and complexity of the challenge we’re dealing with demands that we use data in new ways to help every family, every community and every industry get back on their feet, stronger and more resilient than before.”

The public “Economic Recovery Dashboard” the agency has created online at commerce.wa.gov/datadashboard shows that leisure and hospitality is the industry that’s been most affected. About 80 percent of construction jobs lost as of June have been recovered. In leisure and hospitality, it’s only about a third.

“Two months after reopening efforts began, Washington’s employment decline is still 30% greater than the lowest point in the Great Recession a

Read More

Continue Reading

Powell pledges the Fed’s economic aid ‘for as long as it takes’

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., on Tuesday, Feb. 11, 2020.

Andrew Harrer | Bloomberg | Getty Images

Federal Reserve Chairman Jerome Powell pledged continued support for an economy that he said has shown substantial improvement but still needs more work.

In remarks the central bank leader will deliver Tuesday to the House Financial Services Committee, Powell reiterated the Fed’s commitment to helping the economy through the coronavirus pandemic and outlined what’s been done so far.

“We remain committed to using our tools to do what we can, for as long as it takes, to ensure that the recovery will be as strong as possible, and to limit lasting damage to the economy,” Powell said in his prepared testimony. The appearance is one of three Powell will make on Capitol Hill this week.

The Fed has cut

Read More

Continue Reading

Campus outbreak threatens San Diego’s economic recovery

SAN DIEGO — The start of the semester at San Diego State University was, as always, a time for students to make and renew friendships on and off its urban campus and enjoy the beach and the city’s unmatched August weather.

The coronavirus meant far fewer people returned to campus this year but the parties, cookouts and other festivities that mark the start of the fall semester went on as usual for a week or two, then abruptly stopped as infections quickly mounted.

James Floyd, a freshman from Davis, California, noticed a mood change when classmates began getting tested. “Once a friend got it, they got scared,” he said.

There have been larger outbreaks at U.S. colleges but none may be more impactful than the one at San Diego State.

California has seen remarkable recent success with the virus — the infection rate of 2.8% for the last week is

Read More

Continue Reading

Letting restaurants violate some liquor laws: Economic favoritism, or justified boon? | Local news

That is justified because they were previously closed for in-house dining, he said.

They have since been allowed to serve patrons. But Johnson said the restaurants still need the financial help because they remain “subject to capacity restrictions.”

Ducey press aide Patrick Ptak also defended the governor’s decision to block enforcement of the laws that prohibit restaurants from making off-site sales of alcoholic beverages. He called it one of many “tough decisions” Ducey had to make during the pandemic.

“This has been a way for many establishments to maintain their operations safely and responsibly while continuing to prioritize public health,” Ptak said. He said Ducey has “broad authority” relating to the enforcement — or non-enforcement — of laws.

Wurman said Ptak is partly right.

He said the laws do give Ducey the power to suspend laws dealing with things directly related to the pandemic, like regulation of doctors, hospitals and

Read More

Continue Reading

Cabinet approves coronavirus economic relief package

After a lengthy debate, the government on Monday night approved the plan by Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz to expand the economic safety net, to allow immediate assistance to businesses and employees who are expected to be affected during the current coronavirus lockdown.

The cost of the approved plan is estimated at NIS 10.5 billion. Earlier today, a 10% cut in the salaries of Knesset members and ministers was approved. Finance Minister Katz noted that in the future he will bring forth a plan for cuts in other sectors, intended for individuals whose salary is equal or greater than that the salary of an MK, as well as officials in the justice system.

Prime Minister Netanyahu said at the beginning of the cabinet meeting that “on Thursday, we presented another financial assistance program for businesses in Israel, along with the economic safety net that will operate

Read More

Continue Reading

Ohio adds jobs in August, but economic recovery slows as COVID persists – Business – The Columbus Dispatch

Ohio added 45,500 jobs in August, well below the number of jobs restored to the economy earlier in the summer.

More than 45,000 jobs were added in Ohio in August, according to a report Friday that suggests the state’s economic recovery has slowed considerably since early summer.

Despite the job gains, the state’s unemployment rate stood at 8.9% in August, nearly identical to July’s 9% rate and slightly above the U.S. rate of 8.4%, according to the monthly report from the Ohio Department of Job and Family Services.

A separate survey found that 510,000 Ohioans remained without jobs in August the same as in July.

In August, 45,500 Ohio jobs were restored, below the 63,000 jobs added in July and well below the 213,000 workers called back in June.

Jobs were added in health care, transportation, professional services, and even in the battered leisure and hospitality industries.

But the gains

Read More

Continue Reading

Museum and Young Professionals’ Group to Host Virtual Town Hall on Economic Justice

The National Civil Rights Museum and Keepers of 306 panel discuss economic inequities and measures to mobilize change

Memphis, TN, Sept. 21, 2020 (GLOBE NEWSWIRE) — Keepers of 306, an action initiative of the National Civil Rights Museum that engages civic-minded young leaders, will host a live-streamed town hall entitled “Where Do We Go from Here? Economic Justice.” It will broadcast on the museum’s website and Facebook Live on Tuesday, September 29, at 6:30pm CT.

The goal of the virtual forum is to raise awareness of the economic inequities facing our nation and the measures every Memphian and American can take to mobilize change. A panel of national and local leaders will discuss topics including creating economic impact for communities of color through workforce development, community development, entrepreneurship, ownership, policy change, and voting. 

“As we again examine the question asked by Dr. King, ‘Where do we go from

Read More

Continue Reading

Study: Manufacturing leads economic recovery in border region

As thousands get back to work south of the border, officials expect economic activity to rub off on Far West Texas and Southern New Mexico communities

EL PASO, Texas (Border Report) – With manufacturing plants back at work, Juarez, Mexico is leading the jobs recovery in the greater El Paso region.

The latest Hunt Institute’s Paso del Norte Economic Indicator Review shows that non-farm employment increased only slightly in El Paso from June to July, continued falling in Las Cruces, New Mexico, but spiked almost 2% in Juarez. That’s more than an 8,300 month-to-month job gain for El Paso’s sister city across the border.

“In Ciudad Juarez, all employment sectors, except services, increased on a monthly basis led by manufacturing,” the study says. El Paso gained 400 manufacturing and 300

Read More

Continue Reading

Load More