Job Losses Mount as U S Unemployment Surges
The AP reports rising U S jobless claims with 41 million Americans filing for unemployment since mid March while first time claims drop for eight straight weeks. Despite reopenings, overall unemployment remains extreme with April rate at 14.7 percent and May expected near 20 percent. Economists warn ongoing public sector layoffs and tax revenue shortfalls threaten further damage.
MENTIONED IN THIS ARTICLE
Washington
U.S
U.S. Labor Department
Adam Ozimek
Upwork
Congress
Cancer COVID-19 raises death risk for patients and survivors
Studies in Lancet show current and past cancer patients who contracted COVID-19 faced higher mortality within a month than non cancer individuals. In one group of 928 patients, 13 percent died and half were hospitalized, with cancer survivors included among the risk. The second study reported a 28 percent death rate, rising with age and other conditions.
MENTIONED IN THIS ARTICLE
United States
United Kingdom
Spain
Canada
Lancet
American Society of Clinical Oncology
England
U.S
Jeremy Warner
Vanderbilt University
White House delays midyear economic forecast amid pandemic fear
The White House decided not to release an updated midyear economic forecast this year citing pandemic anxiety ahead of the election. The Commerce Department reported 5 percent annualized GDP drop in Q1 and 41 million unemployed since mid March while House moves to ease Paycheck Protection Program forgiveness, funding the CARES Act’s COVID response.
MENTIONED IN THIS ARTICLE
Washington
White House
U.S
Commerce Department
Trump
Fed
Congress
Joe Brusuelas
RSM
House
Senate
Trump weighs mild sanctions on China over Hong Kong
President Trump plans limited actions targeting visas and access to the global financial system to pressure Beijing while preserving the US China trade deal. Supporters say the move aims to avoid harming Hong Kong further, with critics noting US leverage is limited.
MENTIONED IN THIS ARTICLE
Trump
China
Hong Kong
Washington
Donald Trump
Xi Jinping
Steve Bannon
White House
United States
Beijing
Chinese Communist Party
Robert Daly
Wilson Center
PRC
U.S
David Stilwell
Joe Biden
Trump escalates war on Twitter with executive order
President Trump signs an executive order challenging Section 230 protections for online platforms after accusing Twitter and Facebook of political bias. He seeks new regulation via independent rule making agencies with FCC and FTC study mandates while tech groups warn of stifled speech and innovation.
MENTIONED IN THIS ARTICLE
Donald Trump
Oval Office
Trump
Twitter
Associated Press
Washington
Silicon Valley
U.S. Chamber of Commerce
United States
Federal Communications Commission
Federal Trade Commission
Congress
FCC
Ajit Pai
Department of Commerce
Facebook
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