Around 71% of the 21 million unemployed people in May had been out of work between five and 14 weeks. About 19% have been unemployed for fewer than five weeks. “There aren’t many people who are long-term unemployed,” said Stephen Woodbury, an economist at Michigan State University. “There are gazillions of people that have lost
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Hero Images | Hero Images | Getty Images One of the risks that comes with pension plans may be looming larger than usual. As many companies work to regain their financial footing in the midst of continuing economic uncertainty caused by the coronavirus pandemic, a retiring worker’s decision to take either a lump sum or
Mixmike | Getty Images Gen Z may also be Gen DIY. “There’s an underlying assumption that almost any task can be taught or learned by yourself,” said Jonah Stillman, co-author of Gen Z @ Work. “I grew up with YouTube: I can log on and learn to play an instrument, write code or tile a
Audrey Saracco / EyeEm The U.S. government has sent 159 million stimulus checks to Americans. But there are still an estimated 30 million to 35 million payments yet to be issued, according to new data on the progress of the payments from the House Ways and Means Committee. The stimulus checks — up to $1,200
More than half of U.S. travelers planning to book trips will not insure their purchase, according to a survey of more than 1,200 Americans by ValuePenguin. That’s despite the near-shutdown of global tourism, the struggle to get refunds on canceled spring and summer travel plans, and lingering questions over how and when airlines, cruise lines,
Investors who were sitting on the sidelines during coronavirus will get some more time to partake in a new tax play. Qualified opportunity funds were created by the Tax Cuts and Jobs Act of 2017. They offer taxpayers an incentive to invest capital gains they incur elsewhere into economically distressed communities, granting investors an attractive
Joseph Louis joins others in a protest asking the state of Florida to fix its unemployment system on May 22, 2020 in Miami Beach, Florida. Joe Raedle | Getty Images One generous proposal on Capitol Hill could put as much as $10,000 per month into American families’ hands to help them weather the coronavirus pandemic.
Ravin Jesuthasan Source: Ravin Jesuthasan The coronavirus pandemic has destroyed tens of millions of American jobs. How many of them will come back? That might be one of the most pressing questions of the Covid-19 recession. Arguably no other downturn has threatened to leave American life so unrecognizable. What will the labor market look like
A “Now Hiring” sign advertising jobs at Lowe’s is seen as the spread of the coronavirus disease (COVID-19) continues, in Homestead, Florida, U.S., April 17, 2020. Marco Bello | Reuters Payroll tax cuts could be in the next round of coronavirus aid legislation, if President Donald Trump gets his way. Vice President Mike Pence reiterated
Hero Images | Getty Images If you’re eyeing your 401(k) account to help shore up your finances amid the coronavirus crisis, there are a couple of penalty-free ways you can do it if your employer allows it. Just be sure you’re aware of the long-term implications. Each of the options available — a loan or