For the 14th week in a row, more than 1 million people filed for unemployment benefits as fallout from the pandemic continues to hurt workers across the nation. The last three weeks have each seen the number of newly unemployed Americans hover around the 1.5 million mark, an ominous sign that economic recovery could still be a long time coming.
Although some people have returned to work as states reopen, the rising number of coronavirus cases threatens to once Continue reading
After months on lockdown, states across the country have relaxed stay-at-home orders and allowed businesses to gradually resume operations. This slight return to normalcy caused the stock market to rally over the last few weeks to levels approaching its January 2020 highs. But even though many Americans are desperate to return to something resembling normal life, coronavirus remains a dangerous threat to public health. In fact, cases of infection have been steadily rising as states and businesses reopen.
As a Continue reading
For months, movie theaters around the country have sat empty as Americans remained in their homes to curb the spread of coronavirus. With many businesses now gradually reopening, though, last week the nation’s largest film exhibitors also announced their plans for returning. AMC Theatres, for instance, will reopen by July 15th with a number of precautionary measures in place. Along with filling theaters to a maximum capacity of 30 percent, the company will also use advanced cleaning technology such as Continue reading
Before the pandemic, Starbucks cafes across the country bustled with people grabbing all sorts of caffeinated beverages before work. With millions of Americans now telecommuting, however, these once crowded coffee houses are not nearly as busy as they used to be. As a result, last week Starbucks announced that it would close hundreds of locations across North America and shift its focus to takeout orders.
“This repositioning will include the closure of up to 400 company-operated stores over the next Continue reading
Before the coronavirus pandemic, takeout and delivery orders made up just a small portion of total sales for most restaurants. With countless customers now homebound, though, to-go business has never been more important for eateries across the country. Many restaurants use apps like Grubhub, Seamless, or DoorDash to handle delivery orders, but these services come with quite a few problems for all their convenience. Besides signing up companies that don’t offer delivery, food startups have also deceived restaurants and Continue reading
When Airbnb launched in 2008, it encouraged homeowners with extra rooms or add-on structures to rent these spaces out to travelers looking for more authentic experiences than hotels could offer. As the years went by and the startup’s popularity skyrocketed, however, some Airbnb hosts developed real estate portfolios stocked with short-term rental properties. While the growing abundance of Airbnbs often increased rent for people living in cities with thriving tourist industries, many hosts simply watched as the money rolled in Continue reading
Last month, 20.5 million people lost their jobs, sending the unemployment rate skyrocketing to 14.7 percent. Economists predict that the actual jobless rate could be even worse when factoring in people who are out of work but not collecting unemployment benefits. Experts also expect that things will only get worse in May as job cuts spread to white-collar workers. “It’s devastating,” said Ryan Sweet of Moody’s Analytics. “There’s someone behind each of these numbers. It’s going to take years to Continue reading
