Labor Department Ensures Americans Unemployment Benefits Won’t Lapse Despite Trump Signing Delay

The Department of Labor (DOL) says unemployment benefits won’t lapse despite President Donald Trump’s delay in signing a new Covid-19 relief package.

“As states are implementing these new provisions as quickly as possible, the Department does not anticipate that eligible claimants will miss a week of benefits due to the timing of the law’s enactment,” a department spokesman told The Hill. read more

Report: U.S. Economy Only Added 245,000 Jobs in November as Lawmakers Continue Work on Stimulus Deal

The Bureau of Labor Statistics reported this morning that the United States economy added just 245,000 jobs in November on a seasonally adjusted basis, 224,000 fewer jobs than had been projected.

Although November’s unemployment rate (6.7%) is lower than October’s unemployment rate (6.9%) this is because more workers left the workforce in November. Of those not counted among the workforce, 3.9 million people have been unable to look for work because of the Covid-19 pandemic’s disastrous effects on the job market. read more

Study: 8 Million More Americans Are in Poverty After Stimulus Talks Collapsed

A Columbia University study found that eight million more Americans are in poverty after coronavirus relief stimulus talks collapsed, a sign that “The COVID-19 crisis has induced both the largest declines and subsequent increases in monthly employment ever witnessed in the U.S., and has made clear the importance of high-frequency data on family well-being to inform policymaking.” read more

Republican Massachusetts Governor Slams Senate’s Attempts to Confirm SCOTUS Nominee While Delaying Virus Relief

Massachusetts Governor Charlie Baker (R) rebuked the Senate’s attempts to confirm a nominee to replace the late Justice Ruth Bader Ginsburg on the Supreme Court in remarks earlier today. Baker says the Senate should “allow the American people to cast their ballots” first, joining a chorus of voices who say a confirmation should be decided by the winner of November’s general election. read more

Biden Endorsed by Group of Nobel Prize-Winning Economists

Joe Biden speaks in Philadephia

A group of 13 Nobel Prize-winning economists has announced their endorsement of Democrat Joe Biden in November’s general election.

The economists announced their endorsement in a letter released by the Biden campaign. The signatories are the economists George Akerlof, Peter Diamond, Oliver Hart, Eric Maskin, Daniel McFadden, Roger Myerson, William Nordhaus, Edmund Phelps, Paul Romer, Robert Solow, Michael Spence, Joseph Stiglitz, and Richard Thaler.  read more