WASHINGTON — The U.S. economy grew at a record 33.1% annual rate in the July-September quarter but has yet to fully rebound from its plunge in the first half of the year — and the recovery is slowing as coronavirus cases surge and government aid dries up. The Commerce Department’s...
Walters: Politics, Snafus Stall Jobless Benefits
The good news for millions of out-of-work California workers is that the federal government is offering them an additional $300 per week in unemployment insurance benefits. The not-so-good news is that the bonus is just half of the $600 in extra jobless benefits that expired nearly a month ago, it’s uncertain when...
Walters: California Economy Faces Tough Slog
It now seems like ancient history, but only a few months ago, California’s economy was roaring. “By any standard measure, by nearly every recognizable metric, the state of California is not just thriving but, in many instances, leading the country, inventing the future, and inspiring the nation,” Gov. Gavin Newsom...
Virus Pushes US Unemployment Toward Highest Since Depression
NEW YORK — Unemployment in the U.S. is swelling to levels last seen during the Great Depression of the 1930s, with 1 in 6 American workers thrown out of a job by the coronavirus, according to new data released Thursday. In response to the deepening economic crisis, the House passed...
Opinion: Next Stimulus Should Focus on Energy, Infrastructure
As a lifelong free-market conservative, I know it pained many of my fellow Republicans to vote for the $2.3 trillion emergency relief package signed into law last month. The thought that the economy may need an additional $1 trillion or more in federal spending before the COVID-19 pandemic is over to avoid...
IMF: Global Economy Will Suffer Worst Year Since Depression
WASHINGTON — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year —...