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
Stocks are headed lower in afternoon trading on Wall Street after erasing earlier gains, as investors close out a brutal first quarter.
A city of about 150,000 just in northern Los Angeles County is preparing for the spread of the novel coronavirus by teaming up with the local aerospace companies to create ventilator substitutes and preparing an ordinance that would require wearing masks, according to Mayor R. Rex Parris.
The former CEO of CKE Restaurants, the parent company of Hardee's and Carl's Jr., says some restaurants simply won't survive the coronavirus outbreak.
The president took to Twitter last Friday and unleashed a furious series of attacks at GM and its chairman and CEO, Mary Barra, leaving company executives, officials inside the White House, and employees at a nonprofit who had helped broker the partnership between GM and Ventec flabbergasted.
Gov. Gavin Newsom said he hopes the new Health Corps will increase the number of healthcare workers by thousands as the state prepares for an overwhelmed healthcare system.
California Rep. Ami Bera wants to see more federal control over things like purchasing and stockpiling medical supplies to meet the needs of the coronavirus pandemic.
Stocks are pushing higher on Wall Street, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.
While expressing gratitude for federal support the state has received, Cuomo stressed that the city is not an "anomaly" but rather a "canary in the coal mine" for what the rest of the state and country will soon experience.
Rep. Debbie Dingell of Michigan sounded alarm as her state recorded the fourth highest number of coronavirus cases in the country.
Mike Leavitt, the former HHS Secretary under President George W. Bush, gave a word of support to the current health secretary regarding his response to the coronavirus pandemic.
