Researchers from the Federal Reserve Bank of Philadelphia determine that 1.34 million households will owe $7.2 billion in back rent at the end of the year
Report says just 125,000 households would be in this situation if every unemployed worker had received $600 a week in enhanced benefits
Eviction crisis among factors weighing on political leaders seeking to come up with a new COVID-19 relief package
Report from the Connecticut Center for Economic Analysis, a University of Connecticut think tank, warns that it may take a full decade for the state to recover from the economic damage caused by the COVID-19 pandemic
Forecast says state had already been in a difficult spot before the pandemic due to sluggish job gains and a failure to invest in IT development
Report calls for steps such as infrastructure improvements, a more aggressive push for federal funding, and marijuana legalization among other strategies
As COVID-19 pandemic continues and many companies extend remote work arrangements, consumer spending follows an unusual course for uncertain economic times
Spending up in areas such as home renovations, takeout, and grocery shopping
Pandemic highlights disparity between wealthier and poorer households, with diminished consumer confidence at lower income levels
Fair Access to Financial Services Act seeks to close loophole in 1964 Civil Rights Act and bar discrimination in the banking industry for the first time
Proposal follows several media reports of customers facing discrimination at banks
Some large banks have committed to efforts to address the racial wealth gap in the United States and support the growth of Black- and Latinx-owned businesses
New weekly jobless claims fall to 787,000, the lowest since the start of the COVID-19 pandemic
Continuing claims fall sharply, dropping 1 million
Labor market remains tenuous, with some of the decline credited to workers exhausting their regular benefits and moving to an emergency compensation program
Standalone bill to authorize another round of funding for the Paycheck Protection Program fails to earn enough support to pass the Senate
While the program has widespread support, Democrats criticized the measure as insufficient
Mitch McConnell reportedly advises White House not to accept any compromise deal on economic stimulus as he readies a “skinny” relief measure for a Wednesday vote
