A number of US states will raise their minimum wage in 2020
Around 24 different states in the US are set to raise their minimum wage by 2020. Lawmakers have had to measure the benefit of this increase against the job loss that this law will inevitably cause so many have chosen a more conservative increase. The minimum wage has not been raised for some time, despite an increase in the cost of living.
america usa poor capitalism minimum-wage lower-income
CNNRelated Articles
1.48 million Americans filed for unemployment benefits last week
Jobless claims totaled 1.48 million last week as unemployment related to the coronavirus pandemic remained stubbornly high. Economists surveyed by Dow Jones had been expecting 1.35 million claims. While the weekly numbers remained high and were worse than expectations for the second straight week, the total of those receiving benefits continued to fall
america economy claims jobless
CNBC
3.17 million Americans filed for unemployment benefits last week
US weekly jobless claims hit 3.17 million last week as the seven-week total reached a record 33.5 million. Although jobless claims are slightly above the estimates but remained below the previous week’s 3.8 million. The layoffs associated with social distancing practices have wiped out all of the job gains the economy has seen since the recovery from the Great Recession
america us economy unemployment claims benefits jobless
CNBC
American retailer J.Crew files for bankruptcy
J.Crew Group, which operates the J.Crew and Madewell brands, has become the first national US retailer to file for bankruptcy protection since the coronavirus pandemic forced a wave of store closures. The clothing retailer has filed to begin Chapter 11 proceedings in federal bankruptcy court in Virginia. The company also said it had reached a deal with its lenders to convert about $1.65 billion of debt into equity
america bankruptcy jcrew retailer
CNN
Apple is building a new $1 billion facility in Texas
In a statement released online, Apple Inc announced the construction of a new facility in Austin, Texas, located adjacent to the facility where they manufacture the new Macbook Pro laptops. Apple is spending 1 billion USD on this facility, which will span an are of 3 million square feet, with an initial capacity of 5000 employees with an additional 10,000 potential capacity, and will open in 2022.
apple usa austin texas billion dollar campus
Reuters