Wall Street and corporate media are rooting for the Federal Reserve to cause a big spike in unemployment and even trigger a recession as the only means to tamping down inflation. Corporate media rarely reports on how more than half the rate of inflation is due to corporate price gouging to increase profits, make stock … Read more
The American Rescue Plan extended the CARES Act pandemic unemployment benefits to September 6. But virtually all “red state” governors ended the unemployment benefits early, in June and July, on the specious argument that you Lucky Duckies are lazy couch potato ne’er-do-wells who don’t want to return to work while living off that extra $300 … Read more
The U.S. had a recession in 1990-91 during George H.W. Bush’s one term as president. Although the recession was relatively mild and short-lived, it was characterized by a jobless recovery. Unemployment continued to rise in 1992, an election year, and was a contributing factor to Governor Bill Clinton defeating George H.W. Bush that year for … Read more
Howard Fischer reports today, COVID-19 funds to prop up state unemployment fund: Gov. Doug Ducey plans to put federal cash given to the state for COVID-19 relief into the soon-to-be-insolvent unemployment trust fund to save companies from having to replenish the account on their own. But unemployed Arizonans will have to continue to live on … Read more
The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession. For context, the previous record for weekly unemployment claims was 695,000 set in 1982 — a record that has now … Read more