Surging Unemployment numbers in New York
Millions of American workers have lost their jobs because of measures taken to stem the spread of the coronavirus pandemic, state labor departments have been overwhelmed with unemployment claims. The New York State Labor Department of Labor said that initial unemployment insurance claims last week surged 520 percent more than 80,500 when compared with the same period last year
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Colorado’s expanded unemployment system, $600 CARES Act payments will launch Monday
The Colorado Department of Labor and Employment on Monday will begin accepting applications for the new pandemic unemployment assistance program that extends benefits to a range of previously uncovered workers and people affected by the COVID-19 outbreak. After creating a new claims system independent from the one that processes applications for Colorado’s standard unemployment insurance program, the labor department is hopeful it will be able to handle the needs.
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Google
16 million people just got laid off but U.S. stocks had their best week in 45 years
“Stocks are up because the damage to the economy — evident in claims — is beyond comprehension, while the response of the Fed is easier to understand,” wrote Chris Low, chief economist for FHN Financial, in a note out Thursday after the jobless claims data. In an analysis published Thursday, investor Ned Davis notes that the stock market does better than average when unemployment spikes.
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Google
Amazon employees stage mass protests all over Europe
Amazon workers and climate change activists have organized mass demonstrations all over Europe to protest the company's poor treatment of its workers and the environment. Workers went on strike on Black Friday, the busiest day of the year, to voice their concerns and demand better conditions. Amazon has often come under fire for its poor treatment of workers.
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Salon
Berlin faces demands for more public investment
In a joint statement issued by Germany's BDI industry association and the DGB trade union, the German government has been called on to revise its budget to include larger boosts in public investment. DGB leader Reiner Hoffman stated that a better long-term public investment program may be the only way for Germany to ensure high-paying jobs and growth. KfW estimates that municipalities across Germany require a public investment of EUR 138 billion.
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Reuters