Market Strategist Warns 'Pain Felt On Main Street Quite Distinct From What's Reflected In Stock Market'
In an economy beset by pandemic-induced hardship, why is Wall Street thriving while Main Street is struggling?
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In an economy beset by pandemic-induced hardship, why is Wall Street thriving while Main Street is struggling?
Spending from the first round of stimulus propped up the economy. But that money is gone, and a more stimulus is unlikely in the coming weeks.
More stimulus checks would help suffering Americans and prop up the sagging U.S. economy, but Democrats and Republicans haven't yet agreed on a deal.
The revised HEROES Act, passed by Democrats in the House, would still include stimulus payments and enhanced unemployment benefits.
Stimulus discussions are back on the table in Washington, but time is growing short to deliver a second round of stimulus payments before the election.
Time is running out on a stimulus package passing before the election, even as the need for another stimulus check and additional unemployment payments remains strong.
Unemployed individuals who qualify for an additional $300 under Trump's Lost Wages Assistance program may receive up to six weeks worth of benefits.
President Trump's Lost Wages Assistance program is intended to increase weekly unemployment benefits, but implementation has been slow.
States react to President Trump's executive order extending additional weekly unemployment insurance payments in the amount of $400.
Unemployment's sizable decline in July still reflects a slowing economic recovery in the face of the unchecked coronavirus pandemic.
With the first round of economic stimulus running out, millions of Americans are about to take a massive hit to their household budget.
"The labor market remains in a precarious place as COVID-19 cases surge in some parts of the country and fresh lockdown measures are adopted in response."
New unemployment claims last week were 78% below the peak during the COVID-19 pandemic.
The Latest Jobs Report Could Mean The Worst Is Behind Us
The unemployment rate took a surprising drop, but while hope exists the road to recovery remains uncertain.
Michigan's unemployment rate rocketed in April, likely setting an all-time high at 22.7%, as coronavirus restrictions shut down businesses and put people out of work.
Jill Schlesinger, certified financial planner and CBS News business analyst, looks at how to devise a game plan for paying bills when money is tight.
Since March over 80 businesses have given WARN notices across the state, with 58 being in Southeast Michigan.
In a letter to the community and staff, the University of Michigan President Mark Schlissel announced today measures to cut costs as the University bleeds money due to the Coronavirus shutdown in Michigan. In his letter, he wrote, "The pandemic also has threatened the financial stability and future strength of our university."
"The system's overwhelmed to be sure," Gov. Gretchen Whitmer said earlier this week. "While it is cumbersome, we're asking for people to be patient. We are working incredibly hard to make sure that we're able to meet the need."
Black unemployment fell to a record low in August, helped by a jump in the number of black women on the job.
Figures released Wednesday by the Michigan Department of Technology, Management & Budget show the state's unemployment rate remained unchanged at 4.2 percent in June.
A lawsuit can move forward over how Michigan bungled unemployment fraud cases.
The state says Michigan's unemployment rate was 3.9 percent in November, unchanged from October.
Michigan's unemployment rate fell by a tenth of a percentage point to 3.9 percent in October.
Two children are dead and three other people are injured after a fire in Canton Township Sunday evening, safety officials say.
Training AI takes a heavy toll on Kenyan workers, who say they earned $2 an hour to label and sift through gruesome content for American companies.
Michigan Humane is looking for fosters to give its dogs a much-needed break from the kennels.
Four people are recovering in the hospital following a rollover crash in Macomb County Friday night.
The Detroit Lions beat the Indianapolis Colts 24-6 on Sunday, extending their winning streak to nine games.
Two children are dead and three other people are injured after a fire in Canton Township Sunday evening.
The Detroit Lions beat the Indianapolis Colts 24-6 on Sunday, extending their winning streak to nine games.
A 71-year-old Oakland County woman has been convicted for her role in a health care kickback scheme that costed Medicare $1.4 million, according to the U.S. Department of Justice.
Training AI takes a heavy toll on Kenyan workers, who say they earned $2 an hour to label and sift through gruesome content for American companies.
A 38-year-old woman is facing felony charges after authorities in St. Clair County seized over 80 grams of methamphetamine and other drugs.
Local UAW members claim Stellantis is to blame for roughly 4,000 layoffs this fall, not poor market conditions.
Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.
On average, a 15-gallon tank of gas will cost Michiganders $46, which is $12 less than what they were paying from 2023's highest price in August.
General Motors announced Friday it was laying off nearly 1,000 salaried workers worldwide.
General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
The 10-day event will feature Racing Day presented by the Detroit Grand Prix on Jan. 17, 2025.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season.
Tickets go on sale to the general public via Ticketmaster on Tuesday, Nov. 26.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Tortilla strips sold in grocery stores across the U.S. have been recalled due to concerns about an undeclared wheat allergen.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
The school district introduced therapy dogs two years ago, and things have gone so well that it decided to add six more dogs.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
CDC data shows rates of Mycoplasma pneumoniae have surged in babies.
A WARN notice says that an agreement between the hospital and the Secretary of Health and Human Services would be terminated because the hospital was not in compliance with some of the Medicare Conditions of Participation.
A number of homes in parts of Metro Detroit are seeing elevated levels of lead in their drinking water, according to officials.
The Detroit Lions beat the Indianapolis Colts 24-6 on Sunday, extending their winning streak to nine games.
Franz Wagner had 30 points, nine rebounds and eight assists, and the Orlando Magic beat the Detroit Pistons 111-100 for their eighth win in nine games.
A goal by the Bruins' Brad Marchand midway through the third period proved to be enough for Boston to beat the Detroit Red Wings 2-1 Saturday night.
Kalel Mullings ran for 92 yards and a career-high three touchdowns, leading Michigan to a 50-6 win over Northwestern on Saturday to make the defending national champions eligible for a bowl.
Ten days ago, former Red Wings great Pavel Datsyuk was inducted into the Hockey Hall of Fame, and on Thursday, Detroit honored the man nicknamed the "Magic Man."
Hackel, the former Macomb County Sheriff, said the results of the 2024 contest are giving him more confidence than ever that he has the right stuff and resumé to be governor.
How did the Democrats lose so many races at once?
In Michigan, the Democrats have control of the governor's mansion and both state houses.
In Michigan, the Democrats now have control of the governor's mansion and both state houses.
Both party chairs also talked about the ground game as each looks for independent voters and those who haven't voted in a while they hope to inspire to show up on Nov. 5.
Meteorologist Kylee Miller says there may be some rain showers for travelers heading to their Thanksgiving destination on Thursday.
The home of Edsel Ford, the only child of Henry Ford, is being shown to the public, complete with holiday decorations throughout the property.
Michigan Humane is looking for fosters to give its dogs a much-needed break from the kennels through its Canine Sleepover Program.
Millions will travel this week for Thanksgiving, but forecasted storms in different parts of the U.S. may cause some delays.
Jahmyr Gibbs rushed for two scores and David Montgomery added a third touchdown run Sunday, leading the Detroit Lions to a 24-6 victory at the Indianapolis Colts.