Economy
U.S. Jobs Recovery Slows as Virus Rages, Boosting Aid Chances
The U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery.
Nonfarm payrolls increased by 245,000 from the prior month and the unemployment rate edged down to 6.7%, the Labor Department said Friday. The data also showed a worrisome decline in Americans participating in the labor force, as more people left jobs and the workforce altogether.
Google Illegally Fired And Spied On Workers Who Tried To Organize, Labor Agency Says
Google illegally fired two employees involved in labor organizing last year, the National Labor Relations Board alleged in a complaint on Wednesday.
The tech giant also violated federal labor law, the agency said, by surveilling employees who viewed a union organizing presentation, interrogating others, unfairly enforcing some rules and maintaining policies that “discourage” workers from protected organizing activities.
More coronavirus ‘relief’ needed to aid economic recovery: Former Fed president
Former Federal Reserve Bank of Atlanta President Dennis Lockhart told “Mornings with Maria” on Thursday that he believes additional coronavirus relief measures are needed to help “consumption in certain groups that have been very hard hit by the economic downturn in the second quarter.”
“I think stimulus would help,” Lockhart told host Maria Bartiromo, noting that he prefers to use the term “relief” versus stimulus because “we’re really in a relief kind of mode at the moment.”
Avocados Are the ‘Pandemic-Proof’ Crop in Lockdown Health Craze
After a brief drop in demand at the start of the Covid crisis, European and U.S. consumption are hitting record highs, according to Xavier Equihua, chief executive officer of the World Avocado Organization, a trade group.
“Consumption is off the charts,” Equihua said in an interview from California. “People want to eat healthy. The new luxury post-pandemic is going to be eating healthy, and wellness. Even the fashion industry is saying that.”
Think Your Health Care Costs Are Covered? Beware The ‘Junk’ Insurance Plan
Looking back, Sam Bloechl knows that when the health insurance broker who was helping him find a plan asked whether he’d ever been diagnosed with a major illness, that should have been a red flag. Preexisting medical conditions don’t matter when you buy a comprehensive individual plan that complies with the Affordable Care Act. Insurers can’t turn people down or charge them more based on their medical history.
Regulators warn risks to financial stability remain ‘elevated’ in U.S.
Federal regulators warned in a report to Congress on Thursday that the risks to financial stability in the United States are “elevated” and that the outlook for the global economic recovery remains uncertain.
The Financial Stability Oversight Council, a group of top financial regulators led by the Treasury secretary, said that market conditions had improved significantly since the onset of the coronavirus pandemic — the result of extraordinary measures employed by Congress and the Federal Reserve.
Facebook Bans Debunked Claims About COVID-19 Vaccines
Facebook is banning claims about COVID-19 vaccines that have been debunked by public health experts, as governments prepare to roll out the first vaccinations against the virus.
That includes posts that make false claims about how safe and effective the vaccines are, and about their ingredients and side effects.
“For example, we will remove false claims that COVID-19 vaccines contain microchips, or anything else that isn’t on the official vaccine ingredient list,” Facebook’s head of health, Kang-Xing Jin, said in a blog post.
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The post Daily Digest 12/3 – U.S. Jobs Recovery Slows as Virus Rages, Boosting Aid Chances, Facebook Bans Debunked Claims About COVID-19 Vaccines appeared first on Peak Prosperity.
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