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Coronavirus recession

COVID-19

Businesses face new restrictions with no aid in sight

by Justin Ho
Nov 24, 2020
During the first round of lockdowns earlier this year, small businesses could fall back on federal relief. Not this time.
A bartender awaits patrons at a Florida restaurant. Anxiety is rising for many small business owners.
Octavio Jones/Getty Images
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COVID & Unemployment

Report warns of a worsening affordability crisis for renters

by Amy Scott
Nov 19, 2020
The lowest-income households were more likely to lose wages and fall behind on rent.
Banners against tenant evictions hang from a rent-controlled building in Washington, D.C., in August.
Eric Baradat/AFP via Getty Images
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COVID & Unemployment

New report says 12 million jobless workers are about to lose unemployment benefits

by Nancy Marshall-Genzer
Nov 18, 2020
In just 38 days, 12 million jobless workers will lose their benefits. Talks on another relief bill have stalled in Congress.
The restaurant and hospitality industries have experienced plenty of turnover.
Nicholas Kamm/AFP via Getty Images
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COVID-19

Growth in retail sales is slowing. That's a bad sign for the economy

by Mitchell Hartman
Nov 17, 2020
As goes the U.S. consumer, so goes the U.S. economy.
Shoppers walk in South Coast Plaza in August in Costa Mesa, California. Smaller retailers are having a harder time transitioning to online sales and adjusting to COVID-19 restrictions.
Mario Tama/Getty Images
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COVID-19

How small businesses are bracing for a COVID winter — or not

by Erika Beras
Nov 16, 2020
Many that survived the shutdowns in the spring have a strategy, while others fear they just won't make it.
A bar in Manhattan sells to-go cocktails at the beginning of the pandemic. Small businesses are preparing for another round of lockdowns, as the virus continues to surge across the country.
Victor J. Blue/Getty Images
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COVID-19

Few people are tapping 401(k)s, even without withdrawal penalties

by Samantha Fields
Nov 12, 2020
The CARES Act made it easier to get money out of retirement savings early. But that only helps people with enough cushion to have a 401(k).
At Vanguard, 4.5% of people had taken a coronavirus-related distribution as of the end of September.
Johannes Eisele/AFP via Getty Images
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COVID-19

As bank account yields fall, deposits are on the rise

by Justin Ho
Nov 12, 2020
People have been seeking safety for their money during the pandemic. With fewer things to spend it on, the cash piles up.
People wait to use an ATM outside a Chase branch in New York City.
Cindy Ord/Getty Images
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COVID-19

Consumer prices didn't rise in October. That may not be good news.

by Mitchell Hartman
Nov 12, 2020
Low inflation is a sign that the recovery may be losing steam.
Customers shop at an Arizona mall in June.
Christian Petersen/Getty Images
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COVID-19

Paycheck Protection Program loans have been a lifeline — for some businesses

by Justin Ho
Nov 11, 2020
Two PPP recipients discuss their relief loans and the challenges of staying open through the pandemic.
PPP loans helped keep some businesses afloat, but restaurants and bars are still struggling — especially as COVID-19 cases rise.
Spencer Platt/Getty Images
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COVID & Unemployment

Nearly two job seekers for every job: What it's like to look for work now

by Mitchell Hartman
Nov 10, 2020
The unemployment rate is down, and more people are returning to the labor force. But finding a job isn't easy.
A woman closes up a liquor store in Seattle in July. Job searchers are having a hard time finding work during the pandemic.
David Ryder/Getty Images
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