The U.S. lost a stunning 22 million jobs in March and April at the beginning of the coronavirus pandemic, with only about half of those numbers returning in the following seven months. With weekly jobless claims remaining high, voters might want to know more about what former Vice President Joe Biden and President Donald Trump intend to do on the issue of labor.
Biden has pledged to do whatever it takes to help jobs recover through direct stimulus payments. His plan includes funding for state and local governments to keep essential workers on their payrolls and federal payouts to supplement state unemployment checks.
Meanwhile, Trump favors tax cuts and deregulation to stimulate the economy but concedes that another infusion of cash stimulus is likely needed. The president also extended federal unemployment benefits for six weeks after they were set to expire in July but at a lower rate of $300 a week, half the amount of the earlier benefit.
Both candidates support tax incentives for manufacturers to keep jobs at home. Biden even proposes tax penalties for those businesses that ship manufacturing jobs overseas with the intention of selling finished products back into the U.S.
Whoever wins the election in November faces a daunting task, with millions still out of work, consumer spending slowing down, and a resurgence in coronavirus cases adding to the economic woes.
Read More on Trump and Biden's Plans:
Trump vs. Biden on Raising the Federal Minimum Wage
Biden vs. Trump on Student Loans and Higher Education
Congressman Barry Loudermilk (R-Ga. 11th District) supports the Georgia Gov. Brian Kemp's plan and says the state is prepared to deal with a possible resurgence.
Stocks are pushing higher Thursday, even though the government said 4.4 million more workers filed for unemployment benefits last week.
The oldest brother of Sen. Elizabeth Warren, Donald Reed Herring, has died from the coronavirus. The former Democratic presidential candidate said Thursday that her brother died Tuesday evening.
More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday.
Stocks opened slightly higher Thursday, even after the government said 4.4 million more workers filed for unemployment benefits last week as layoffs sweep the economy.
For weeks, the Trump administration played up the dangers of the coronavirus as it sought to convince Americans to disrupt their lives and stay home. Now, as President Donald Trump aims for a swift nationwide reopening, he faces a new challenge: Convincing people it’s safe to come out and resume their normal lives.
A new survey finds Americans remain overwhelmingly in favor of stay-at-home orders and other efforts to slow the spread of the coronavirus. A majority say it won’t be safe to lift such restrictions anytime soon. T
Stocks are closing higher on Wall Street after two days of losses, and the price of oil burst higher a day after a historic plunge.
Stocks around the world are clawing higher on Wednesday, and the S&P 500 climbed toward its first gain of what’s been a dismal week. Even the oil market turned higher.
Ben Midgley, CEO of Crunch Fitness Franchise, told Cheddar Wednesday that the company will take a close look at its approach to reopening its facilities.
