At least 7 million people are likely to get unemployment tax refunds
Samuel Corum/Bloomberg via Getty Images At least 7 million people likely qualify for tax refunds on unemployment benefits received last year, a new report suggests. The American Rescue Plan, which President Joe Biden signed in March, waived federal tax on...
Labor secretary says pandemic is still weighing on economy but confidence is coming back
Labor Secretary Marty Walsh said Friday the Covid-19 pandemic is still weighing on jobs, but he projected optimism about recovery of the U.S. economy as vaccinations continue, saying, “We are starting to see the confidence come back.” Walsh’s comments on...
U.S. Chamber of Commerce blames weak jobs report on enhanced unemployment benefit, kicks off lobbying effort
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters The largest business lobbying group in America on Friday blamed a $300-per-week federal jobless benefit for enticing Americans to stay at home...
April’s expected hiring boom goes bust as nonfarm payroll gain falls well short of estimates
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million...
China’s trade with the U.S. and Australia grew in April despite tensions
Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019. Aly Song | Reuters BEIJING — China’s exports surged more than expected in April as global demand for Chinese goods remained elevated amid countries’ varying stages of dealing...
Stock futures are flat ahead of key April jobs report
Shannon Stapleton | Reuters Stock futures traded mostly flat Thursday as investors awaited Friday’s highly anticipated jobs report to assess the pace of the labor-market recovery. Dow futures were down 34 points, while contracts tied to the S&P 500 ticked...
April jobs expected to top 1 million as consumers boost the economy
Server Adrian Almanza brings entrees to a table at Satay Thai Bistro and Bar, in Las Vegas, Nevada, March 28, 2021. Bridget Bennett | Reuters Job growth in April could top 1 million, though many positions also may have gone...
Fed warns about potential for ‘significant declines’ in asset prices as valuations climb
People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. Ting Shen | Xinhua via Getty Images Rising asset prices in the stock market and elsewhere are posing increasing threats to the financial...
Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels
The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance dipping below 500,000 for the first time since the pandemic crisis. Initial claims totaled 498,000 for the week ended May 1, against the Dow Jones estimate...
Why married couples must wait for tax refunds on $10,200 of unemployment benefits
Samuel Corum/Bloomberg via Getty Images It’s unclear how many taxpayers will get a refund and what share of them are married. Roughly 40 million people collected unemployment benefits in 2020, according to the Century Foundation. It’s also unclear when the...
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