Here’s my piece from Sunday Morning as I chat with Harvard professor Kenneth Rogoff for a historical perspective of this week’s 6.6 million new jobless figures.
The Labor Department has announced that it received over 6 million jobless claims in one week, significantly higher than the previous week's record-setting 3.3 million. I joined CBS This Morning to weigh in on what the latest report means for the U.S. economy and what out-of-work Americans can do to help themselves and their families.
The CARES Act, signed into law on Friday, is the largest economic stimulus package in history. The bill allocates $2.2 trillion to people and businesses negatively impacted by the coronavirus’ effects on the economy. I joined CBS This Morning: Saturday to explain if and how the stimulus will affect you.
More than 3 million U.S. workers filed for unemployment last week, making it the worst week for unemployment claims in over 50 years. Over half of all U.S. states have ordered nonessential businesses to close, putting millions more at risk of being laid off or not working enough hours to survive. I joined CBS This Morning to put the numbers into context.
Nationally, unemployment claims are skyrocketing. The federal government is trying to put a band-aid on the financial bleeding, working to send out stimulus checks of $1,000 per adult and $500 per child.
The latest jobs report shows the unemployment rate was down to 3.9 percent in April, the lowest level since December 2000. But wages are only up 2.6 percent from a year ago. I joined the CBS Evening News to explain what that means for workers.
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