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.
Officials from California's unemployment benefits agency said Wednesday it cleared about 246,000 of its more than 1.6 million backlogged claims following a two-week "reset" where it stopped taking new applications and focused on improving its technology.
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 Employment Development Department reopens for business this week. The agency is promising major security changes after a government strike team found rampant inefficiencies and fraud. One big reason for much of the problem is organized crime.
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.
California's unemployment agency is not answering 60% of the calls it receives for help as the overwhelmed department struggles to work through more than 1 million pending claims five months into the pandemic.
Normally, adding more than 140,000 jobs would be cause for celebration by the standards of the past few decades. But the coronavirus has upended what's normal.
States react to President Trump's executive order extending additional weekly unemployment insurance payments in the amount of $400.
Gov. Gavin Newsom on Monday said President Trump's unemployment plan falls far short of what California needs in terms of funding and addressed the state's ongoing issues with COVID testing data for the first time.
Unemployment's sizable decline in July still reflects a slowing economic recovery in the face of the unchecked coronavirus pandemic.
Californians who have lost their jobs now appear to be losing some hope of ever being called that to work.
Negotiators on a huge coronavirus relief bill reported slight progress after talks resumed Monday in the Capitol, with issues like food for the poor and aid to schools assuming a higher profile in the talks.
Nearly 30 million out-of-work Americans - including thousands in the Bay Area - are scrambling to figure out pay for basic expenses as expanded, federal $600-a-week unemployment benefits expire.
With the first round of economic stimulus running out, millions of Americans are about to take a massive hit to their household budget.
Thousands of workers who sell food to the fans at Chase Center and Oracle are out of a job, due to the pandemic.
A new COVID-19 stimulus bill was expected to be unveiled on Monday by Republican leaders after the $600 weekly federal unemployment boost expired for millions of Americans over the weekend.
The extra $600 federal unemployment benefit that has been a lifeline for about 30 million Americans is set to expire this weekend.
California unemployment claims have climbed to their highest levels in nearly three months as surging coronavirus cases halt plans to reopen the economy, and an extra $600 in weekly federal unemployment benefits is set to expire at the end of the week.
California added a record 558,000 jobs in June as many more businesses reopened but the gains announced Friday by the state are expected to be short-lived.
As the state's economy begins reawakening from it's more than 3-month slumber brought on by the COVID-19 outbreak, signs of the damage left behind from the shutdown continues to mount.
A body has been recovered after an apparent drowning at Cottonwood Lake in San Jose.
When Forrest Jones earned his bachelor's degree three years ago, he was one of only two Project Rebound graduates at Cal State East Bay. This year, the program had 85 students, including 20 graduates.
Harrison Bader hit a grand slam that capped an eight-run eighth inning and the San Francisco Giants beat the sloppy Athletics 10-1 in 25-35 mph winds.
Many Pacific Gas and Electric customers are without power on Sunday as planned de-energizations start over critical fire weather.
A shooting in the Sunset District early Sunday morning left one person dead, the San Francisco Fire Department said.
A body has been recovered after an apparent drowning at Cottonwood Lake in San Jose.
When Forrest Jones earned his bachelor's degree three years ago, he was one of only two Project Rebound graduates at Cal State East Bay. This year, the program had 85 students, including 20 graduates.
Many Pacific Gas and Electric customers are without power on Sunday as planned de-energizations start over critical fire weather.
A shooting in the Sunset District early Sunday morning left one person dead, the San Francisco Fire Department said.
A witness said the driver tried to run from the scene but was stopped by people in the area.
A shooting in the Sunset District early Sunday morning left one person dead, the San Francisco Fire Department said.
Led by CEO Katherine Bella, the private nonprofit library and cultural institution has spent nearly two centuries adapting to the needs of the community while preserving its historic roots.
Bay Area fans of the K-pop superstar group BTS flocked swarmed Stanford University more than 24 hours before the first of three shows on campus.
For San Francisco-based rapper Aft, stoops were a part of his upbringing in the Fillmore District.
Police in San Francisco on Thursday announced the recent arrests of four people suspected in dozens of retail thefts targeting stores and coffee shops around the city.
When Forrest Jones earned his bachelor's degree three years ago, he was one of only two Project Rebound graduates at Cal State East Bay. This year, the program had 85 students, including 20 graduates.
A witness said the driver tried to run from the scene but was stopped by people in the area.
Pollution from the Port of Oakland and nearby freeways has long been a social equity issue for some residents – and now, there is a push for another freeway, Interstate 580, to shoulder some of that burden.
Police in Concord said they are searching for several suspects following a smash-and-grab robbery at a mall Wednesday afternoon, in which an employee was pepper sprayed.
San Leandro Police Chief Angela Averiett has been placed on administrative leave after being charged in a 2025 hit-and-run collision, authorities said on Wednesday.
A body has been recovered after an apparent drowning at Cottonwood Lake in San Jose.
A driver crashed into a Sunnyvale Safeway on Friday and traveled about 70 feet into the store before coming to a stop, the department of public safety said.
A series of retail thefts in the South Bay involving boxes of golf balls resulted in the arrest of a suspect earlier this month, police said Friday.
Police in Santa Clara released additional details in connection with a deadly shooting and house fire last week, saying the suspect shot his estranged brother before setting the fire.
Authorities in the South Bay have identified two people who died in a deadly shooting and suspicious fire that took place in a Santa Clara neighborhood last week.
Fire agencies across the North Bay are preparing for elevated wildfire danger this weekend as forecasters warn of strong winds and low humidity - conditions that often signal the start of fire season in Sonoma, Napa, and Marin counties.
Residents living near the Charles M. Schulz Sonoma County Airport say the skies above their neighborhoods are getting louder as passenger traffic and jet service continue to grow.
Health officials in Napa County are warning the public not to eat wild mushrooms after three people were poisoned.
At least one person has died in a multi-vehicle crash in Napa County on Tuesday afternoon involving two vehicles and a motorcycle, authorities said.
A suspect driver surrendered to police following a fatal hit-and-run crash that killed a wheelchair user in Santa Rosa on Monday, the department said Tuesday.
Harrison Bader hit a grand slam that capped an eight-run eighth inning and the San Francisco Giants beat the sloppy Athletics 10-1 in 25-35 mph winds.
Casey Schmitt hit two home runs and drove in three, Trevor McDonald struck out five in 6 2/3 innings, and the San Francisco Giants beat the Athletics 6-4.
Nick Kurtz homered for a third straight game, hitting a go-ahead three-run shot in the fifth inning and the Athletics beat the San Francisco Giants 5-2 on Friday night.
Rickea Jackson knocked down a 3-pointer with 1:41 remaining to help clinch it and scored 18 points, Skylar Diggins added 15 points, seven assists and five assists, and the Chicago Sky beat the Golden State Valkyries 69-63.
Shohei Ohtani tossed four-hit ball over seven shutout innings, leading the Los Angeles Dodgers to a 4-0 win over the San Francisco Giants.
A shooting in the Sunset District early Sunday morning left one person dead, the San Francisco Fire Department said.
A witness said the driver tried to run from the scene but was stopped by people in the area.
A series of retail thefts in the South Bay involving boxes of golf balls resulted in the arrest of a suspect earlier this month, police said Friday.
Kars4Kids is banned from using its ads in California after a court found that the funds from donated cars were used for teenagers' international trips and a $16.5 million building in Israel.
Police in Santa Clara released additional details in connection with a deadly shooting and house fire last week, saying the suspect shot his estranged brother before setting the fire.
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
The delegation of business leaders underscores the deep ties many major U.S. companies maintain with China despite years of trade tensions.
Three men from Tennessee have been indicted on federal charges, including attempted kidnapping, in connection with an alleged crime spree targeting cryptocurrency owners in California.
A hacking group named ShinyHunters claimed responsibility for the Canvas breach and threatened to leak data involving 275 million individuals if schools did not pay a ransom.
GameStop CEO Ryan Cohen had argued that his company's retail locations would help eBay build a "national network."
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
Health officials in Napa County are warning the public not to eat wild mushrooms after three people were poisoned.
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
A Sacramento County resident is among four Californians being monitored for possible exposure to the Andes hantavirus linked to a deadly cruise ship outbreak, state health officials announced.
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
The Supreme Court on Friday rejected a bid by Virginia Democrats to revive its new voter-approved congressional map that was drawn to advantage the party for the upcoming midterm elections.
President Trump's trip to China could bolster economic relations, but failed to deliver a breakthrough deal, some trade and energy experts said.
Steve Large breaks down the California governor's debate in San Francisco.
Top gubernatorial candidates faced off in a debate hosted Thursday by CBS News California and the San Francisco Examiner.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Philz Coffee will once again sport the Pride flag at its cafés after a directive to have them and other flags removed created a backlash.
The Trump administration agreed to restore the Stonewall National Monument's Pride flag in Greenwich Village after it was removed.
Philz Coffee's move to remove the Pride flag and all other flags from their stores is brewing up some strong reaction.
Transgender women athletes are now excluded from women's events at the Olympics after the IOC agreed to a new eligibility policy on Thursday.
Bay Area fans of the K-pop superstar group BTS flocked swarmed Stanford University more than 24 hours before the first of three shows on campus.
City officials in Elk Grove were finalizing preparations on Friday for a visit by country superstar Luke Bryan and an expected attendance of over 20,000 of his fans on Saturday.
For San Francisco-based rapper Aft, stoops were a part of his upbringing in the Fillmore District.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
Authorities in the East Bay have charged two men for allegedly organizing a sideshow in Oakland that broke out as internet sensation IShowSpeed was visiting the area.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
With Darren Peck.
Commencement ceremonies wrapped up today at colleges and universities around the Bay Area. But one school, Cal State East Bay, set a record for the number of graduates from its special program for the formerly incarcerated.
The San Francisco Fire Department said a person was killed in a shooting early Sunday morning.
A driver struck and killed three people in East Oakland late Saturday night, the fire department said.
with Jennifer McDermed.
In 2025, KPIX is moving to a new community service award: the CBS News Bay Area Icon Award. Submit nominations for an outstanding community hero at kpix.com/icon.
It's the most wonderful time of the year for a South Bay woman who has played Mrs. Claus for more than 40 years for the children of North San Jose's Alviso District.
For residents of the Oakland Hills, the prospect of another wildfire always remains a concern. This week's Jefferson Awards winner has made it his mission to make the hills and other high-risk areas safer.
In East Palo Alto -- where state education numbers show more than nine in ten public school students are low income and more than half are English learners -- many are finding hope and connection at the Boys & Girls Clubs of the Peninsula.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.