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+19 +3
Hundreds of Google and Alphabet employees unionize
Google employees take another step in their activism, Venmo adds a check-cashing feature and Slack has some issues. This is your Daily Crunch for January 4, 2021. More than 200 employees at Google and its parent company Alphabet have announced that they have formed the Alphabet Workers Union.
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+12 +2
Looking for a job? This university shared its database with thousands of remote job openings
California State University, East Bay published a public database of remote job vacancies across the country to help people struggling to find employment due to the pandemic. In a press release last week, the university said it wants to help "pull the rising unemployment level in the country back to its normal level."
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+14 +2
1 in 4 Americans are jobless or earning poverty-level wages, new study finds
Official government figures show that unemployment around the U.S. has fallen sharply since peaking at nearly 15% in April as the coronavirus was shuttering businesses left and right. Yet the jobless rate as depicted in headlines offers a skewed picture of employment today, failing to capture the real financial pressure bearing down on millions of Americans, according to a new study.
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+27 +5
Millions of Unemployed Americans Face Loss of Benefits at Year’s End
Two key programs Congress passed this year to expand and enhance unemployment insurance expire on Jan. 1, leaving millions of people without benefits unless lawmakers can break a monthslong deadlock over a fresh round of pandemic relief.
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+8 +1
Long-term unemployment is on the rise, economists and social scientists worry
As the number of coronavirus cases continue to increase, the number of Americans who have been jobless for more than 26 weeks jumped to 3.6 million last month. This worries labor economists and social scientists about the slow rate of economic recovery amid the coronavirus pandemic.
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+10 +2
Unemployment is falling. Long-term unemployment is ballooning
The number of unemployed workers continues to fall, reflecting a rebound from the deep economic hole gouged out by the coronavirus pandemic in the early spring. But a sinister trend is churning under the surface. Long-term unemployment — a period of joblessness lasting more than 27 weeks (or, six months) — is accelerating quickly.
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+10 +2
Job policies that offer generous unemployment benefits create more happiness – for everyone
Governments use a variety of labor market policies to support workers who lose their jobs – each with a different impact on a country's well-being.
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+15 +4
Layoffs thought to be temporary are now permanent for nearly 4 million Americans
When the initial wave of layoffs due to the coronavirus hit the U.S. economy in April and subsequent lockdowns, many people thought these losses would be temporary phenomenon that would quickly rebound as businesses reopened.However, the new employment data seems to suggest that these “temporary” job losses have turned permanent for millions of Americans.
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+16 +2
Jobless claims jump, hitting highest level since mid-August
American workers continued to hit the unemployment line in large numbers last week, with 898,000 new claims filed for jobless benefits. Economists surveyed by Dow Jones had been looking for 830,000. The total for the week ended Oct. 10 was the highest number since Aug. 22 and another sign that the labor market continues to struggle to get back to its pre-coronavirus pandemic mark as cases rise and worries increase over a renewed wave in the fall and winter. The number represented a gain of 53,000 from the previous week’s upwardly revised total of 845,000.
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+22 +5
Disney to Lay Off 28,000 Employees as Disneyland’s Reopening Unclear
Walt Disney Co. said it would lay off about 28,000 employees at its domestic theme parks, making the announcement shortly after the state of California signaled that Disneyland Resort would likely have to remain closed for the foreseeable future due to Covid-19 concerns.
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+8 +1
Unemployment drop-off reverses course
Americans were starting to fall off the rolls of unemployment. But Thursday's claims report shows the drop-off hasn't just stalled out — the trend continues to reverse course.
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+25 +5
Why higher unemployment taxes are 'all but certain' for businesses
Businesses in many states are likely to face tax increases as early as next year to replenish depleted trust funds that pay unemployment benefits. Workers may also face cuts in unemployment benefits.
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+27 +4
Worries grow over a K-shaped economic recovery that favors the wealthy
Worries of a K-shaped recovery are growing in the alphabet-obsessed economics profession. That would entail continued growth, but split sharply between industries and economic groups.
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+20 +1
The US is adding jobs. But the recovery could take years
Economists are worried that the tepid recovery in the US job market could run out of steam this fall should coronavirus cases surge again just as federal stimulus money runs out.
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+17 +4
When Will Congress Act on Stimulus Payment?
After the failed talks of stimulus negotiators between the Republican and Democratic highest officials, Congress would reportedly act on the second round of the stimulus payment next month.
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+19 +5
The Great Coronavirus Economic Crisis Is Far From Over
The pandemic’s resurgence, coupled with dire warnings about a likely second wave, now seems to be halting in its tracks the economy’s very strong bounce from its second-quarter collapse.
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+13 +1
Bye, boomer: the coming cull of workers over 50
Uh-oh. Those of us who remember when ’80s music was new had better start bracing ourselves for those big-box-store greeter jobs earlier than we expected. It doesn’t take a genius to see that the jobs market is probably heading for a massive, rolling shakeout. And that means plenty of employers may be using the cover of COVID-19 to get rid of lots of expensive older workers.
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+4 +1
Unemployment Payments Could Be Delayed Up To 20 Weeks Under GOP Proposal
A proposal floated by the White House and some Republicans that would tie unemployment payouts to roughly 70% of a worker’s previous wage in a next coronavirus stimulus bill could delay jobless benefits by up to 20 weeks, a new memo reported by NPR shows, leaving around 25 million Americans relying on the payments with a drastic pay cut for a lengthy period of time.
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+9 +2
24 million Americans fear missing next rent payment as benefits dry up
Black and Hispanic households in greatest danger as evictions loom. Days from the end of enhanced unemployment benefits and a federal eviction moratorium, 24 million Americans say they have little to no chance of being able to pay next month’s rent, a U.S. Census Bureau survey shows.
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+24 +2
We are sleepwalking toward economic catastrophe
"The cliff is totally visible in front of us": The future is grim if Congress doesn’t act on the economy. The country is ambling toward a cliff, putting millions of Americans’ lives and livelihoods in danger and all but ensuring prolonged economic distress nationwide. It didn’t have to be this way. Yet here we are, unable to shake out of it.
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