All Economy
First LookDespite new safety protocols, airlines struggle to lift-offAirlines global sales down 85% compared to this time last year. The big companies will survive with government help and independent loans, but surveys suggest people聽are growing more skeptical about air travel.
For working women, a recession like no otherUnlike past recessions, in which men bore the brunt of layoffs, the coronavirus recession has disproportionately affected women.
For New England lobstermen, resilience in 鈥榓 season of uncertainty鈥�In Maine and Cape Cod, the pandemic has thrown the livelihoods of lobstermen into a precarious position, forcing them to get creative.
First LookIn a pandemic first, US jobless claims fall below 1 millionLayoffs are slowing, but unemployment remains high. The expiration of the聽$600-a-week federal benefit threatens to weaken聽consumer spending and reduce Americans' weekly incomes by $18 billion.
First LookAs relief bill talks stall, Americans ask: Can I pay the rent?Americans on unemployment can longer count on the extra $600 weekly federal checks. Some hope Congress will pass a new relief bill, but talks have stalled in the Senate.
The other people facing housing woes amid pandemic: Mom and pop landlordsMany landlords understand聽tenants鈥� needs during this time, but they also have to meet their own financial obligations.
First LookUS economy takes record-breaking GDP plunge as virus cases surgeThe government鈥檚 estimated聽32.9% annual rate drop in聽GDP last quarter聽has no comparison since records began in 1947. Analysts expect a rebound for the current July-September period, but with rising virus cases in some state, some companies are delaying hiring decisions.
First LookWill stores forgo the most profitable 鈥� and crowded 鈥� holidays?To curb crowds, Target and Walmart have decided to close stores on Thanksgiving day, ending the early-bird door buster tradition. Black Friday sales are still in limbo.
FocusNext pandemic threat to economy: A wave of evictionsThe expiration of federal and state eviction bans puts millions of renters at risk.聽Will the U.S. let a health crisis become a housing crisis?
First LookBlack lives matter at work, too, strikers say across US citiesNursing home employees, janitors, airport workers, and more will walk out of their jobs Monday and take a knee for eight minutes in at least two dozen U.S. cities. Strikers demand corporations confront systemic racism and economic inequality in their workplaces.
Aid for US economy is expiring 鈥� at just the wrong momentWith a rise in coronavirus cases hindering efforts at reopening the economy, pressure is rising on Congress for a new round of aid.
First LookWaiter by day, actor by night: In NYC, it's a fading optionAs New York City attempts to reopen, some fear that jobs for the city's creative class are no longer available. 鈥淪uddenly I don鈥檛 have young artists to work with because they can鈥檛 afford New York,鈥� the owner of a production company said.聽
First LookFirst to close, first to grow: Chinese economy begins recoveryThe Chinese economy was the first to shut down at the start of the coronavirus pandemic 鈥� and it's now the first major economy to show growth. While聽consumer spending is still weak, manufacturing and some other industries are almost back to normal.聽
First LookApple wins court battle over $15B, limiting EU's tax authorityApple just won a long court battle over $15 billion in back taxes. Like several U.S. tech companies, they鈥檝e managed to聽pay low tax rates on a bulk of their European profits by setting up headquarters in Ireland.聽One legislator called the verdict 鈥渁 huge setback鈥� in the fight for a fair tax system.
The ExplainerHunger jumps, travel plummets: Tracing pandemic鈥檚 ripples in 3 chartsThe coronavirus and efforts to contain it have reshaped the U.S. economy and the lives of those who depend on it. Just how long will that last?
Vacation redefined: Head to Cape Cod, act like a homebodyVacation traditions are being tested as people pine for beaches amid a pandemic. One result is the rise of the away-from-home staycation.
First LookIn economic slump, town takes new tack: Printing its own moneyTenino, Washington has revived a Great Depression-era strategy to help shore up the local economy during the pandemic 鈥� printing its own currency. Other towns across the country are taking notice of the town's unusual methods.
First LookWorkers plan 'Strike for Black Lives.' Here are their demands.A U.S. coalition of labor unions and racial justice organizers plan a mass walk-out on July 20, calling on corporations and government leaders to address systemic racism in the economy. "We cannot win economic justice without racial justice," said one union president.聽
First LookSummer camps use survival skills to keep running during COVID-19As most of the nation's 15,000-plus camps opt to close because of coronavirus concerns or delays in receiving state guidelines, 19.5 million kids will miss out on camp this summer
First LookSales up in Black-owned businesses, owners hope it lastsLists of local Black-owned businesses across Boston have been circulating on Instagram, Facebook, and Twitter, helping retailers raise their profile and boost sales at a time when the coronavirus pandemic has ravaged the economy.