U.K. Supreme Court rules Uber drivers are employees
Uber suffered a major defeat in one of its most important markets on Friday when Britain’s Supreme Court, in a ruling that could threaten the future of the already unprofitable…
Biden dismisses a Democratic plan to wipe out $50,000 in federal student-loan debt
President Joe Biden dismissed a Democratic plan to forgive up to $50,000 in student-loan debt. "I will not make that happen," he said Tuesday, adding he didn't think he could…
Biden and Yellen signal a return to Keynesian economics
If there were any doubt that Joe Biden’s economic proposals represent a big break with the policies of the Obama and Clinton Administrations, the debate about Biden’s $1.9 trillion covid-19 relief plan…
Weekly jobless claims remain high despite decline in new COVID-19 cases
The number of Americans seeking unemployment benefits fell slightly last week to 793,000, evidence that job cuts remain high despite a substantial decline in new viral infections. Last week’s total…
Yellen: US could reach full employment next year if Congress passes Biden’s stimulus plan
"Biden's plan, which the secretary said is "big enough to address (the) full range of needs" facing the country's economy, includes a wide range of immediate assistance for struggling families,…
U.S. Trade Deficit Jumps to 12-Year High in 2020
As a candidate, Donald Trump promised “brilliant trade” policies that would drop the national trade deficit “like you’ve never seen before.” WASHINGTON (Reuters) - The United States’ trade deficit surged…
Whoohoo! The US adds a whopping 49,000 jobs in January
“Though we gained jobs in January after a December loss, this is not a we’ve-turned-the-corner report,” said Robert Frick, corporate economist at Navy Federal Credit Union. “We especially shouldn’t take…
Democrats Move Forward With Reconciliation Bill and Joe Manchin
Democrats are set to move forward with COVID-19 relief bill as holdout Senator Joe Manchin (WV) indicated his support. On Monday Pelosi and Schumer introduced a budget resolution bill that…
A ‘progressive’ state: Gov. Mike DeWine wants $50M to encourage people to move to Ohio
The Olde Youngstow eet & Tube Ohio Gov. Mike DeWine announced Monday that he wants to spend $50 million on a marketing campaign to convince East Coast and West Coast…
Silver futures jump 7% as Reddit traders try their squeeze play with the metal
Futures contracts for silver surged higher on Sunday night as the Reddit-fueled boom in highly shorted stocks appears to be spilling over into the metals market. Silver futures were up 8%…
Youngstown, Ohio’s Rep. Tim Ryan invites President Biden to visit Lordstown Motors and attend ‘Voltage Valley’ roundtable
On Wednesday, Youngstown Rep. Tim Ryan sent a letter to President Biden inviting him to "visit his Northeast Ohio congressional district at his "earliest convenience," wishing to showcase what local leaders…
What is going on with Gamestop’s shares?
GameStop is a retail chain with about 5,000 locations across North America which, as its name suggests, sells video games and game-related accessories. Like many retailers, its business has been…
Shutdowns in Blue states did not cause the pandemic jobs losses
People started staying at home before the shutdowns were ordered, data shows With the input Indiana University economists Sumedha Gupta, Kosali Simon and Coady Wing, the Washington Post released their conclusions…
The words "Job Losses" on US currency.
Weekly jobless claims surge to their highest total since August
More winning: First-time claims for unemployment insurance jumped to 965,000 last week amid signs of a slowdown in hiring due to pandemic restrictions, the Labor Department reported Thursday. The total…
The words "Job Losses" on US currency.
U.S. loses 140K jobs in December, final report of Trump presidency
The final jobs report of 2020 shows a labor market teetering on the brink, as the pandemic’s chokehold on the economy strengthens. More Winning! “It’s eerily reminiscent of when Joe…
Weekly Jobless Claims: 803,000 Americans file for unemployment
'Twas days before Christmas and all through the land, 803,000 Americans found out they were canned. They rushed to the unemployment office to file a claim, joining 20.4 million others,…
Schumer and Pelosi Are All In For Trump’s $2,000 Offer For Relief Bill
Chuck Schumer and Nancy Pelosi are signaling support for Trump's suggestion to increase direct payments to Americans for $2,000 in a revamped coronavirus stimulus and government funding bill. https://twitter.com/SenSchumer/status/1341599067516907520?s=20 https://twitter.com/SpeakerPelosi/status/1341557535732604935?s=20…
DUH! 50 Years of Tax Cuts For the Rich Failed to Trickle Down, Economic Study Says
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone…
Analysis: Government study shows taxpayers are subsidizing “starvation wages” at McDonald’s, Walmart
Millions of Americans employed at some of the country's largest companies have had to rely on food stamps and Medicaid, with giants like Walmart and McDonald's employing the most workers…
Jobless claims surge to 853,000 amid resurgence of virus
The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher.…
November job growth slowest month since recovery began; only 245,000 jobs recovered
Remember, folks, these are jobs recovered since the pandemic hit, not new jobs. The U.S. economy added 245,000 jobs in November, as the unemployment rate fell to 6.7 percent, according…
Congress Reconvenes Monday, Under Pressure From Trump and Biden to Pass Another Stimulus
Congress gets another chance to break the gridlock over a deadlocked stimulus bill when they reconvene for a short period beginning on Monday. The return to Washington will end before…
Mnuchin makes things difficult for the incoming Biden administration
Treasury Secretary Steven Mnuchin broke sharply with the Federal Reserve this week, choosing to end a variety of programs aimed at helping markets, businesses and municipalities weather the pandemic and…
The words "Job Losses" on US currency.
Weekly jobless claims increase while continuing claims decrease
First-time filings for unemployment benefits totaled 742,000 last week vs. the Wall Street estimate of 710,000.Continuing claims fell by 429,000 to 6.37 million, a fresh pandemic-era low.The total of those…
Mississippi’s governor proposes eliminating the state income tax but wants $3 million for a ‘Patriotic Education Fund’
Below is how Mississippi ranks in areas of importance, such as healthcare, education, economy, etc. Regardless of their sucky rankings in everything that matters, Mississippi's Governor Tate Reeves wants to eliminate…
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