This is the fifth historic week for unemployment numbers, bringing the total to 26.5 million since March 14th.
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Nearly 1/3 of Renters Did Not Pay Rent in April
New data show that nearly 1/3 of U.S. renters did not pay rent for the month of April.
The Covid-19 pandemic continues to ravage economic life for workers in the U.S.
22 Million People Have Filed For Unemployment in the Last Month
22 million people, or 13.5% of the entire U.S. workforce has filed for unemployment in the last month.
Retail Sales Plunge Record 8.7% Last Month
Retail spending cratered a record 8.7% in March. The new record dwarfs the previous record of 3.9%.
Survey Finds Almost Half of U.S. Small Business Will Permanently Close Without Help Soon
A new survey finds 43% of U.S. small businesses are fighting for survival in the wake of the Covid-19 pandemic.
24% of businesses surveyed have already closed on a temporary basis.
Study: One Quarter of Profitable Fortune 500 Companies Paid $0 in Federal Income Taxes in 2018
The study found that of the 379 profitable companies, 91 paid no federal income taxes. A further 56 companies paid rates between 0% and 5%.
$2 Trillion Coronavirus Relief Bill Signed into Law
The bill includes one-time payments of up to $1,200 for individuals, $2,400 for married couples filing jointly, and $500 per child.
3.3 Million U.S. Workers Filed For Unemployment Last Week, Obliterating Previous Record
This figure corresponds to 2% of all U.S. workers — 1 in 50.
Bestselling French economist Thomas Piketty releases plan to phase out billionaires
Piketty argues billionaires are harmful to economic growth and calls for a 90% wealth tax on those worth more than 2 billion euros.
Economic Left 