Unemployment - McGraw-Hill Introduction to Business

Study Finds Paycheck Protection Program Helped Bosses more than Employees

February 1, 2022

In the early days of the pandemic, the federal government passed the $800 billion Paycheck Protection Program (PPP) in order to provide money for payroll expenses that had been lost during the nationwide shutdowns. The initiative offered companies with 500 or fewer workers low-interest loans of up to $10 million to cover about two months of payroll. With unemployment soaring at the time, the idea was to bring relief to struggling employees while simultaneously giving businesses more breathing room on Continue reading →

Regulation, Ethics, Coronavirus, Entrepreneurship, Stimulus, Human Resources, Pandemic, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

New Unemployment Claims Gradually Begin to Drop

May 6, 2021

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The widespread disruptions caused by the pandemic resulted in millions of Americans losing their jobs last year and subsequently applying for unemployment benefits. In one especially bleak week in spring 2020, new unemployment claims topped out at more than six million as businesses locked down to prevent the spread of coronavirus. Although the amount of new claims steadily began to decline after this historic high, hundreds of thousands of Americans have nevertheless applied for unemployment week after week since the Continue reading →

Human Resources, Stimulus, Unemployment, Pandemic, Regulation, Economics, Hiring, Ethics, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Americans Filed 719,000 New Jobless Claims Last Week

April 6, 2021

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Starting in March 2020, new unemployment claims in the U.S. seemed to reach record levels every week as businesses closed all over due to the pandemic. And while that number has gradually been decreasing in recent months, thousands of people continue to file fresh unemployment claims each week. 719,000 workers filed for unemployment last week, an increase from 658,000 initial claims the week before.

Although the U.S. unemployment rate remains high, some experts are optimistic that the economy is on Continue reading →

Unemployment, Coronavirus, Economics, Pandemic, Ethics, Human Resources

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Latest Stimulus Bill Looks to Provide Relief for American Households

March 18, 2021

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Last week, Congress passed a $1.9 trillion stimulus package aimed primarily at easing the financial burdens that many Americans have felt during the pandemic. While previous stimulus bills were directed more towards businesses, this latest package provides $960 billion in aid towards individuals through $1,400 checks, unemployment coverage, and provisions for child care. The bill also includes tax credits as well as programs that seek to make rent, food, and healthcare more affordable.

According to economists, low-to-middle income Americans will Continue reading →

Economics, Ethics, Regulation, Human Resources, Health, Labor Relations, Crisis management, Unemployment, Layoffs, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

Millions of Americans Face Tax Bills on Unemployment Payments

March 2, 2021

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The coronavirus pandemic caused millions of people to lose their jobs last year and file for unemployment benefits, which were expanded several times through federal legislation. Now, many Americans are discovering that they owe taxes on these payments that were vital for them to make ends meet. For example, Erika Rose of Los Angeles has been on unemployment insurance since the start of the pandemic and has spent the winter stretching every penny to pay rent and utilities. When she Continue reading →

Pandemic, Ethics, Human Resources, Unemployment, Coronavirus, Stimulus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

The U.S. Lost 140,000 Jobs in December 2020

January 12, 2021

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According to the Labor Department, the U.S. economy lost 140,000 jobs in December 2020 as businesses across the country continue to struggle during the pandemic. While restaurants and bars have been hit especially hard since winter weather has shut down outdoor dining, states have also laid off thousands of teachers and other public workers. All told, 9.8 million fewer Americans are working now than at this time last year.

And as long as the pandemic persists, it will be difficult Continue reading →

Coronavirus, Ethics, Unemployment, Health, Layoffs

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management

High Unemployment Rate Continues in Strained Economy

October 22, 2020

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Last week, another 787,000 Americans filed for unemployment benefits. This represents a drop from the stretch of months where more than 1 million people filed for unemployment week after week, but it nevertheless reflects a deeply strained economy. “The ranks of people applying for extended unemployment are starting to make it look like a traditional recession,” said economist Diane Swonk. “This leaves scars in the labor force, is demoralizing, and increases health risks for workers…We’re not calling people back Continue reading →

Coronavirus, Stimulus, Economics, Ethics, Human Resources, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

Unemployment Claims Surpass 1 Million Once Again

August 27, 2020

NickelsMcHughMcHugh

For nearly every week since March, millions of Americans have filed for unemployment benefits as the economy continues to struggle with the effects of the coronavirus pandemic. And last week was no exception: once again more than 1 million people filed for unemployment for the first time. All together, more than 27 million people applied for benefits as the jobless rate hovers around the 10 percent mark.

“It’s massively concerning that five months into this crisis we are still Continue reading →

Ethics, Human Resources, Labor Relations, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

U.S. Economy Contracted By More than 32 Percent

August 4, 2020

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From April to June 2020, the U.S. GDP plummeted at an annual rate of 32.9 percent, the worst drop on record. As businesses closed across the country due to the pandemic, the U.S. fell into a recession that wiped out the economic gains of the last five years in just a few months. This data released last week by the Commerce Department “just highlights how deep and dark the hole is that the economy cratered into in Q2,” said economist Continue reading →

GDP, Health, Coronavirus, Economics, Ethics, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

Millions of People Filed for Unemployment over Last Two Weeks

July 16, 2020

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Nearly four months into the pandemic, millions of Americans are struggling to remain employed. Last week more than 1.5 million people filed for unemployment benefits for the first time, an increase of almost 109,000 from the previous week. The total number of unemployment claims stood at 17.3 million for the week ending in July 4th, with many people also collecting expanded benefits that could soon expire.

“What we’re seeing is continued, historic elevated rates of job loss in the Continue reading →

Regulation, Economics, Health, Ethics, Coronavirus, Human Resources, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law