17 Burst results for "Mitchell Hartmann"

"mitchell hartmann" Discussed on 90.3 KAZU

90.3 KAZU

08:11 min | 1 year ago

"mitchell hartmann" Discussed on 90.3 KAZU

"Along, everybody. It is going to be a busy day tomorrow for soon to be President Biden and his administration executive orders to issue on the virus and vaccines, Immigration and this economy work, of course to do on the $1.9 trillion relief package he is going to send to Congress. So, as I said, we thought it might be a good idea to step back and assess for just a minute. Exactly where this economy is, as power changes hands while the recovery sputters and the virus remains in control marketplaces Mitchell Hartmann has that story. Joe Biden has kind of been here before 12. Years ago, he and President Obama took over in the midst of the great recession. If anything, this is even worse. University of Chicago economist Austin Goolsbee chaired the Obama White House Council of Economic Advisers were in a catastrophic Health and economic crisis. We're still as bad by some measures as the lowest point of the great recession. We're still down 10 million jobs more than 5% of all jobs before the pandemic. And as the virus surged and lockdowns return this winter, consumer confidence and retail sales fell. The economy started losing jobs again, but the worst is likely now behind us, says Douglas Holtz, taken who was the chief economist on George W. Bush's Council of Economic Advisors. There remains a tremendous amount of underlying strength in the U. S economy. If we can sustain those who have been out of work with the relief that we've seen Congress passed and deal with the virus, there's a good platform to jump off from Including lots of pent up consumer demand and accumulated wealth in the hands of higher income Americans. But Brad McMillan at Commonwealth Financial Network warns that low income households and business owners could suffer a lot more in the 6 to 9 months that it'll take for vaccination to induce a post covert recovery. People lose their apartments, their homes that cripples them and their ability to recover. We've seen tremendous tragic damage to small businesses. The longer this goes on, and the less people spend, the more of them are going to shut down and not come back, and that will only make the recovery harder and longer. I'm Mitchell Hartman for marketplace. So Mitchell talked about jobs there in the middle of that piece. We are going to do some jobs through the program today, unemployment being As it is one of the identifying features of this recession. The national unemployment rate was 6.7% in December, down from a pandemic high of nearly 15% in April. If you remember that Still, though, it's close to double where we were before this thing, so Joblessness varies widely by gender and race. We've talked about that a lot, also by state, which is where we're going to spend some time today, unemployment as proxy for how uneven this recovery is. Hawaii is where we go first, an economy based mostly in tourism, of course, one of the highest unemployment rates in the country right now, 10.1% again 6.7% nationally. We got men who powers on the phone. She runs a business with her husband in Kona called seaQuest, Hawaii. It does boat tour for historical ng and seeing man arrays and that sort of thing. Money. Welcome to the program. Thanks for having me guys thistles. The standard first question When I talked to Ah, small business owner. How is business? Businesses pour it. Businesses dramatically decreased, So let's put it that way. And I would go so far as to say, That's an understatement. And we're operating currently this week at about 5%, and that is definitely not enough to sustain us. It's been a painful year to say the very least. Yeah, I'm sure this this question of being able to sustain you. You have been going through this pandemic now, as the rest of us have for 10 months. You were as I understand it closed for a number of months entirely. Um, how much longer can you keep going? Um, I would say, thanks to you know some of the government funding that was made available to us, and we were quick to act on that we could probably sustain until the fall at this rate on guy think that that's Much better than most have fared through this. When we purchased seaQuest in 2015, the company had eight employees and when we shut down in March of 2020, we had 44 employees and business was doing 600% what it had been when we first started. So our business model was based on that growth. So when business was completely shut down, the model was thrown out the window and they became survival mode. When you've got a town that is entirely dependent on contour ism one way or another. You're looking at a very difficult time for the residents, and hopefully we survive this. The 35 ish or so people that you've had to lay off or let go. What are they doing now? Do you know A lot of them have moved away. Um some of them are hanging in there, You know, living off unemployment, hoping for another stimulus package like we just got so that be an extension of their benefits. But it's tough. Even my husband. He's even taken a side job to support us through this because, of course we had just purchased at home and mortgage. That was equivalent to what our income was at that time, And so now we have to sustain that. We hope to walk out of this with Our home and our assets in place. In other words, our boats building the boats, Aaron, etcetera, whether we're able to do that, we'll see on the topic of you and your husband taking on other jobs. Um Tell me about your reservations person and what it meant to you to be able to hire one. And then I'm gonna guess Now. You don't need that person anymore, Right? So you're speaking to the resolution person this whereas right before the pandemic, we had full coverage and that was a real milestone for us psychologically emotionally. And so now, where glued to the business again and that can be really stressful. We have three young Children were high school sweethearts, So I think that we're going to make it check back in six months, but but we have had stress placed on us that we could have never imagined. And so we're trying to stay positive. Yeah, And that's how we we see this. This is an opportunity for us to get back into the business. Dig deep, really figure out some new strategies and then next to diversify. We've learned anything. It's that diversification is critical and hopefully Should we ever face something like this again? There will be multiple revenue avenues for us to fall back on. Look best of luck to you. My new powers she and her husband on seaQuest. Why yet? They're in Kona. Manu. Thanks a lot. I appreciate your time. Here's my pleasure, kind. Thanks for having me Florida and then Nebraska are gonna round out our state unemployment serve a little bit later in the program traders on Wall Street in the meanwhile we're choosing to see the silver linings in this economy today. Shocking. I know. We'll have the details when we do the numbers. Yeah. Also busy today. Getting ready.

seaQuest Congress President Biden Kona Mitchell Hartmann President Obama Obama White House Council of E Hawaii University of Chicago Austin Goolsbee Mitchell Hartman Council of Economic Advisors business owner Mitchell Commonwealth Financial Network executive
"mitchell hartmann" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

08:12 min | 1 year ago

"mitchell hartmann" Discussed on WNYC 93.9 FM

"The 19th of January. Good is always have you along, everybody. It is going to be a busy day tomorrow for soon to be President Biden and his administration executive orders to issue on the virus in vaccines, immigration and this economy work, of course, to do on the $1.9 trillion relief package he is going to send to Congress. So, as I said, we thought it might be a good idea to step back and assess for just a minute. Exactly where this economy is, as power changes hands while the recovery sputters and the virus remains in control marketplaces Mitchell Hartmann has that story. Joe Biden has kind of been here before 12. Years ago, he and President Obama took over in the midst of the great recession. If anything, this is even worse. University of Chicago economist Austin Goolsbee chaired the Obama White House Council of Economic Advisers were in a catastrophic Health and economic crisis. We're still as bad by some measures as the lowest point of the great recession. We're still down 10 million jobs more than 5% of all jobs before the pandemic. And as the virus surged and lockdowns return this winter, consumer confidence and retail sales fell. The economy started losing jobs again, but the worst is likely now behind us, says Douglas Holtz, taken who was the chief economist on George W. Bush's Council of Economic Advisors. There remains a tremendous amount of underlying strength in the U. S economy. If we can sustain those who have been out of work with the relief that we've seen Congress passed and deal with the virus, there's a good platform to jump off from Including lots of pent up consumer demand and accumulated wealth in the hands of higher income Americans. But Brad McMillan at Commonwealth Financial Network warns that low income households and business owners could suffer a lot more in the 6 to 9 months that it'll take for vaccination to induce a post covert recovery if people lose their apartments, their homes that cripples them and their ability to recover. We've seen tremendous tragic damage to small businesses. The longer this goes on, and the less people spend, the more of them are going to shut down and not come back, and that will only make the recovery harder and longer. I'm Mitchell Hartman for marketplace. So Mitchell talked about jobs there in the middle of that piece. We are going to do some jobs through the program today, unemployment being As it is one of the identifying features of this recession. The national unemployment rate was 6.7% in December, down from a pandemic high of nearly 15% in April. If you remember that Still, though, it's close to double where we were before this thing, so joblessness varies widely by gender and race. We've talked about that a lot, also by state, which is where we're going to spend some time today. Unemployment as proxy. For how on even this recovery is Hawaii is where we go first, an economy based mostly in tourism, of course, one of the highest unemployment rates in the country right now, 10.1% Again. 6.7%. Nationally, We got menu powers on the phone. She runs a business with her husband in Kona called seaQuest, Hawaii. It does boat tour for historical ng and seeing man a raise and that sort of thing. Money. Welcome to the program. Thanks for having me guys. This is the standard first question. When I talked to Ah, small business owner. How is business? Business is poor business is dramatically decreased. So let's put it that way. And I would go so far as to say That's an understatement. And we are operating currently this week at about 5%, and that is definitely not enough to sustain us. It's been a painful year to say the very least. Yeah, I'm sure this this question of being able to sustain you. You have been going through this pandemic now, as the rest of us have for 10 months. You were as I understand it closed for a number of months entirely. Um, how much longer can you keep going? Um, I would say, thanks to you know some of the government funding that was made available to us, and we were quick to act on that we could probably sustain until the fall at this rate on guy think that that's Much better than most have fared through this. When we purchased seaQuest in 2015, the company had eight employees and when we shut down in March of 2020, we had 44 employees and business was doing 600% what it had the only first started. So our business model was based on that growth. So when business was completely shut down, the model was thrown out the window and they became survival mode. When you've got a town that is entirely dependent on contours, and one way or another, you're looking at a very difficult time for the residents, and hopefully we survive this. The 35 ish or so people that you've had to lay off or let go. What are they doing now? Do you know A lot of them have moved away. Um some of them are hanging in there, You know, living off unemployment, hoping for another stimulus package like we just got so there'd be an extension of their benefits. But it's tough. Even my husband. He's even taken a side job to support us through this because, of course we had just purchased at home and the mortgage. That was equivalent to what our income was at that time, And so now we have to sustain that. We hope to walk out of this with Our home and our assets in place. In other words, our boats building the boats, Aaron, etcetera, whether we're able to do that, we'll see on the topic of you and your husband taking on other jobs. Um Tell me about your reservations person and what it meant to you to be able to hire one. And then I'm going to guess now. You don't need that person anymore, Right? So you're speaking to the resolution person at this. Whereas right before the pandemic. We had full coverage, and that was a real milestone for us psychologically emotionally. And so now, where glued to the business again and that can be really stressful. We have three young Children were high school sweethearts, So I think that we're going to make it check back in six months, but but we have Had stress placed on us that we could have never imagined. And so we're trying to stay positive, you know, and that's how we we see this. This is an opportunity for us to get back into the business. Dig deep, really figure out some new strategies and then next to diversify. We've learned anything. It's that diversification is critical and hopefully Should we ever face something like this again? There will be multiple Revenue Avenue was for us to fall back on. Look best elected. You my new powers. She and her husband on seaQuest. Why yet? They're in Kona. 100. Thanks a lot. I appreciate your time. Here's my pleasure, kind. Thanks for having me Florida and then Nebraska are gonna round out our state unemployment serve a little bit later in the program traders on Wall Street in the meanwhile we're choosing to see the silver linings in this economy today. Shocking. I know. We'll have the details when we do the numbers. Mm hmm. Also.

seaQuest Congress President Biden Kona Mitchell Hartmann President Obama Obama White House Council of E Hawaii business owner University of Chicago Austin Goolsbee Mitchell Hartman Council of Economic Advisors Mitchell Commonwealth Financial Network executive
"mitchell hartmann" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:22 min | 1 year ago

"mitchell hartmann" Discussed on WNYC 93.9 FM

"I'm David Brancaccio what the president has now signed into law keeps the federal government funded for another nine months to September. No shutdown. Among the elements in the pandemic Relief section is the country's first ever rental subsidy program funded by the federal government. $25 billion Worth Marketplaces Nervous. A foe is here with more on that. And that money will be distributed for states to administer Congress directed that the program get going in 30 days or less after the bill is signed into law. That will be just when the brief extension of the CDC is eviction moratorium runs out David and that's at the end of January, and once the program gets going, it can run up to 15 months. Will everyone who was able to use the ban on evictions be eligible for rental assistance, then The criteria is similar. But there is an order of priority that states are supposed to implement. And that priority is supposed to go to households that meet at least one of two conditions, and those are At least one person household is unemployed for at least 90 days or households. Total income does not exceed 50% of the area's median income. By the typical income Now, a lot of people of rent. Does this help with back rent or for what you owe going forward? So it's past due rent First. Once that's reduced households can get up to three months for future and but David, the $25 billion set aside for all of this is likely not going to be enough. Estimates are that Americans will need somewhere between 70 to $100 billion in rental. Eight. Nova. Thank you. Legislation from last bring curved covert related medical costs for many market places. Mitchell Hartmann has an update on that covert tests and vaccines are supposed to be free, says Karen Pollitz at the Kaiser Family Foundation. But we really don't have legislation that shields people from the cost of covert treatment. Some patients just get better at home. But others require much more expensive care, and says University of Minnesota epidemiologist Commie Smith, Even among covert patients who get hospitalized the course of diseases wild, the ranging a standard hospital stay will cost around $13,000, according to the Kaiser Family Foundation. A severe case involving the ICU or a ventilator can cost upwards of 90,000 Paul, it says. For people who have health insurance most of that should be covered but with deductibles, even in an uncomplicated case. The average person might be facing, you know, $1300 in out of pocket costs. There is a government program to pay these bills for the uninsured. But on Lee if medical providers opt in I'm Mitchell Hartman for marketplace. At the dawn of the last few trading days of the year, the Dow future is up 6/10 percent S and P and NASDAQ futures each up 7/10 percent for the year. The S and P is up more than 14%. Even with that Covad collapse in the spring. Lot of the strength has been pandemic. Low interest rates making alternatives to stock seem lifts attractive to investors. Marketplace Morning report is supported by bill dot com Over 100,000 small and midsize.

David Brancaccio Kaiser Family Foundation federal government Covad Congress president Mitchell Hartmann CDC Mitchell Hartman University of Minnesota Commie Smith Karen Pollitz Paul Lee
"mitchell hartmann" Discussed on KCRW

KCRW

01:37 min | 1 year ago

"mitchell hartmann" Discussed on KCRW

"To the economy. It increases employment and puts money in people's pockets. All of that this year has, of course, been blunted. Thanks to covet 19 marketplaces. Mitchell Hartmann has more Stores and malls hired around 700,000 temporary seasonal workers in the fall of 2019 As of the end of November this year, Gains in temp jobs were running way behind that pace. Retail hiring South 12.5% fairly significant drop off. Andy Challenger at outplacement firm Challenger Gray and Christmas says there is Maury Commerce hiring Big boom in the transportation and warehousing sectors up about 137%. But he says that's still only makes up about half the seasonal jobs missing from brick and mortar retailers. There's a slow down for at based gig workers to last year, Joe Fifield drove for uber and lift in Minneapolis to supplement his income. This year. He is delivering for door dash, and he says it's not as easy to make money. You spend a lot more time driving with an empty car, he says he's making about 20% less than last year. I'm Mitchell Hartman for marketplace. Let's do the numbers. The footsie in London is up about 1/10 of a percent. Dow S and P and NASDAQ futures are up in the 1 to 2/10 percent range with the Dow future of 42 points. 10 Year Treasury yield is at 100.942%. And China's market regulator is launching an anti monopoly investigation of e commerce giant Alibaba Group. That company's stock is down 3% in pre market trading..

Challenger Gray Mitchell Hartmann Mitchell Hartman Andy Challenger Maury Commerce Alibaba Group Joe Fifield Dow China Minneapolis London
"mitchell hartmann" Discussed on KCRW

KCRW

03:10 min | 1 year ago

"mitchell hartmann" Discussed on KCRW

"C s I. P. C. I'm David Brancaccio. President. Trump released a video last evening, saying the $900 billion covert relief bill passed by Congress is a disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz is in Washington. Will this delay the relief, Jax? Possibly David. Now, Trump did not specifically threatened to veto the covert relief bill. If you were to sign it, the checks could go out very soon. A Treasury secretary Steven Mnuchin, said earlier this week. The money would land in Americans bank accounts as soon as next week. What happened to President Trump vetoes this bill? We'll both the House and Senate approved the covert bill by veto proof majorities in Congress can override of the president's veto with the two thirds majority needs chamber. But those votes would have to be scheduled, and many members of Congress have already gone home for the holidays. Right. So what's the next step then? Well, House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the payments to $2000. But that would have to be a unanimous vote than the Senate would have to approve it unanimously, which is unlikely by one estimate from economists early today, she increasing the checks to $2000 just for adults. Would cost an extra $370 billion. Nancy. Thank you. The stock market is pretty calm about this at the moment. Perhaps because Trump did not specifically say he would veto covert relief. The Dow is up 171 point 6/10 percent. The S and P 500 is up 4/10 percent. The NASDAQ is down 1/10 percent. The number of people signing up for unemployment benefits after fresh layoffs remain very high in the last week, But there's news the number did fall from 803,000 from 885,000 people. Personal spending fell sharply in November. The 4/10 percent drop was the first since April. We also just got the University of Michigan survey of Consumers where there was more strength in December over November overall, but slippage detected as this month draws to a close marketplaces. Mitchell Hartmann has background Even with positive news about vaccinations. Most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Retail spending is decreasing, and the times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine Blue been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries hurt most during the pandemic, leisure and hospitality retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income.

Trump Nancy Marshall Ganz Congress President David Brancaccio Senate House Speaker Nancy Pelosi Bankrate Mark Camera Jax Navy Federal Credit Union Steven Mnuchin Mitchell Hartmann University of Michigan Washington
"mitchell hartmann" Discussed on KQED Radio

KQED Radio

03:11 min | 1 year ago

"mitchell hartmann" Discussed on KQED Radio

"And Y S C s I. P. C I'm David Brancaccio. President. Trump released a video last evening, saying the $900 billion covert relief bill passed by Congress. His A disgrace needs to be reconfigured. And that $600 a person is not enough. Marketplaces. Nancy Marshall Ganz is in Washington. Will this delay the relief, Jax? Possibly David Now, Trump did not specifically threatened to veto the covert relief bill. If you were to sign it, the checks could go out very soon, A Treasury secretary Steven Mnuchin, said earlier this week. The money with Landon Americans bank accounts as soon as next week. What happened to President Trump vetoes this bill? Well. Both the House and Senate approved the code Word bill by veto proof majorities in Congress can override of president's veto with the two thirds majority needs chamber. But those votes would have to be scheduled, and many members of Congress have already gone home for the holidays. Right. So what's the next step then? Well, House Speaker Nancy Pelosi tweeted last night. Democrats could vote this week on a bill that would increase the payments to $2000. But that would have to be a unanimous vote than the Senate would have to approve it unanimously, which is unlikely by one estimate from economist Ernie to death, she increasing the checks to $2000 just for adults. Would cost an extra $370 billion. Nancy. Thank you. The stock market is pretty calm about this at the moment. Perhaps because Trump did not specifically say he would veto covert relief. The Dow is up 171 point 6/10 percent. The S and P 500 is up 4/10 percent. The NASDAQ is down 1/10 percent. The number of people signing up for unemployment benefits after fresh layoffs remain very high in the last week, But there's news the number did fall from 803,000 from 885,000 people. Personal spending fell sharply in November. The 4/10 percent drop was the first since April. We also just got the University of Michigan survey of Consumers where there was more strength in December over November overall, but slippage detected as this month draws to a close marketplaces. Mitchell Hartmann has background Even with positive news about vaccinations. Most of the news about the economy and Covitz spread has been downbeat lately, says Robert Frick, at Navy Federal Credit Union. Reach. Our spending is decreasing, and the times are not good. Even with the federal aid package. We're looking at a few bleak months. How consumers feel about the future depends a lot on how pandemic shutdowns and layoffs affected them, says Mark Camera at bankrate dot com. There are a lot of people who are doing just fine. We've been able to work from home. They may own their home. They have substantial assets. They're not overly worried about the future. Other workers are more anxious. Those who have really been on the frontlines of these industries, her most during the pandemic, leisure and hospitality, retail and they are more financially fragile, he says. A recent Bankrate survey found that half of American households have lost income in the pandemic..

Trump President Nancy Marshall Ganz Congress Senate David Brancaccio House Speaker Nancy Pelosi Bankrate Mark Camera Navy Federal Credit Union Jax David Now Steven Mnuchin Mitchell Hartmann University of Michigan Washington
"mitchell hartmann" Discussed on 90.3 KAZU

90.3 KAZU

04:00 min | 1 year ago

"mitchell hartmann" Discussed on 90.3 KAZU

"With a couple of minutes ago, the state of play post election with a relief package and what's gonna happen? Or not in this economy because of it. Three quarters of a million people lost their jobs. Two weeks ago, we will get an update on first time unemployment claims tomorrow and his marketplaces, Mitchell Hartman reports. A lot of those people who are out of work have similar stories to tell about dealing with long delays in trouble, even getting benefits. About juggling work with home schooling. Kids all of that mixed in with plenty of financial struggles. Here's Mitchell. Daniella night, Fairfax, Virginia ticks off pretty much all of those issues grappling with work and unemployment in case they have some child noises in the background. It's okay. Yes, for constantly all day long. That's nights, three year old. She's also got a five and a nine year old No one. That school everyone is home. When we spoke back in the summer night was juggling two jobs, which she did at night to make ends meet, but she couldn't keep it up with home schooling. Now, she says, she's going through the stages of grief. And I think I've been depressed morning life before. I have put one of my jobs because I would say it was impossible nights. Husband just started a new job at a government agency after several months out of work, so that at least was a big relief. But we still have not seen anything any money from his unemployment benefits for the two plus months that he was not employed there expecting more than $5000. Knight says the Virginia Employment Commission is still reviewing the claim. We're trying as best we can to keep up with build jobless benefits started coming in the spring for an Zebley of Kansas City, Missouri, when she closed her one woman bakery in the first wave of covert shutdowns. Like everyone on unemployment back then she got an extra $600 a week in federal pandemic assistance that helped a little but that help me pay my rent basically and keep the electricity on. In the summer. She re opened the bakery first for a few hours, then a few days a week, But then she got Cove it. It's Been rough. For sure. I have had the long haul coded stuff going on. When she started feeling better. She re opened the bakery, which is just barely breaking even and she dropped off unemployment. She says After the $600 a week federal payments expired in July. My state benefit would have been $120. So instead, I just pushed and went back to work. I probably should not have done that. I would not contagious. I wasn't you know, putting anyone else at risk, but I wasn't ready. Fear of illness has kept some people on the unemployment rolls for the long haul. Mark Smith is in his late forties, He worked as a janitor in a factory in Portland, Oregon, for 25 years until it closed when the pandemic hit. Then he went on unemployment. He could look for another job, but he's decided not to. I'm basically truthing along as the pandemic and the emergency is still going on to be at least one left. Vector of possible contagion. He has a roommate who works in health care and an elderly relative living with them. Smith's been getting about 300 a week on unemployment. At the beginning of October, he ran out of his 26 weeks of state benefits and applied for the 13 week. Federal extension. I am hoping doing like fingers crossed. It's been four weeks so far. He hasn't gotten any money. I'm Mitchell Hartmann for Marketplace. I need you to follow me on this one for a minute here, But mobility was on the ballot here in California yesterday. Economic mobility, yes, but also.

Mark Smith Mitchell Hartman Mitchell Hartmann Mitchell Fairfax Virginia Virginia Employment Commission Missouri Knight Kansas City Oregon California Portland
"mitchell hartmann" Discussed on KQED Radio

KQED Radio

05:14 min | 2 years ago

"mitchell hartmann" Discussed on KQED Radio

"Week in extra unemployment payments to more than 20 million jobless Americans. That expired in mid summer, and George Washington University economist J. Shamba says the amount of cash going out to laid off workers cratered. It fell from 110 in July 2 $34 billion in September. So there's this massive drop off to the economy and also to the most vulnerable households. Those $1200 relief checks from the spring have been spent with most of the federal pandemic relief now gone. You seem a slowing of retail sales and personal spending, Joseph Brusuelas said. Ressam Consulting says a quarter of small businesses have closed, he predicts without more federal support, including lending to small businesses more will fail. And state and local governments won't be able to keep teachers and other essential workers on the payroll, says Michael Gratz at Columbia Law School. The loss of civil service jobs well disproportionately affect minorities because they've been hired into those jobs. Bottom line, says Dan North credit insurer Euler Homies. North America. Okay, let's say we don't have a stimulus package. The economy gets pretty severely damaged in the short term, probably for five years to get Back full employment. The burden is falling to families that are running out of time and money, says Colombia's Michael Gratz. People are facing evictions, difficulty paying for food and lodging. This is a desperate situation, one that the chaos in Washington isn't making any better. I'm Mitchell Hartmann for Marketplace. So there is a cost to the economy of all this Politiken, as Mitchell was telling us, there are also really big personal costs. MARKETPLACE Jasmine guards has store number two Chester Englander is an orchestra percussionists living in Ohio. He was unemployed for much of this year. So was his musician wife. They have two small Children, and he was getting 600 a week in federal unemployment benefits from April to July got added $6000 credit card debt in my one card, and it was clear like You know things were deteriorating incredibly fast. He's used a credit card to pay for food mortgage utilities. His parents in their seventies recently had to pitch in For a lot of Americans. The economic crisis means drawing unemployment and wiping out savings. Like Chris Dancy in Texas. I mean, our savings was eviscerated, even with mortgage deferments in lots of plans. You still you can't stop your spending past. Dancy is a health consultant who has been unemployed since the pandemic began. His husband is a schoolteacher who is still working, but with only one income dancing is nervous about the future. So is Crystal Morris, who has had to defer his dream of buying a house. He works in the New York film industry and was without income for much of the year. Morris is now employed again. But as the city sees a new rise in covert cases, Morris says, My biggest here right now is if we have another shutdown in the next month, and there is no additional government assistance, then we definitely have to go start tapping into our savings again. He says he's always tried to set money aside for a rainy day, but he's worried about how many more rainy days he and his family will have to weather. I'm Jasmine Garza for marketplace. Okay, now the political insight into all of this, namely how we wound up empty handed after four something months of negotiations, it comes to us from Politico's Jake Sherman on MSNBC this morning. Markets are Woefully uneducated about Washington. Those markets as you know, I've been on a roll since the end of March, in part because of the cares act and in part because of the hopes for another relief bill, which has eased some of the pressure. A lot of the pressure on lawmakers to deal. This is idiocy. These people on Wall Street should should spend a day in Washington and talking to people because they're just they are just completely out of their minds or in other words, there was never going to be a deal or hopes were faint at best, and Wall Street should have known it. These people in any other business Wall Street analysts who have been putting 90% on a stimulus deal, any other business would be put away for fraud. I mean, it's just complete nonsense. Anybody with the brain understood this. And then today what happens, negotiations are torpedoed by the White House and Wall Street says, Hey, no. Yeah, it's all good. We'll have the details when we do the numbers. Consider the modern American grocery store aisles and aisles of almost every product you can think of really kind of a miracle of logistics and of productivity and of consumer choice. And now in this virus economy, it has to be said not without hazard for those consumers, and especially.

Crystal Morris Chester Englander Michael Gratz Chris Dancy George Washington University Mitchell Hartmann Washington Joseph Brusuelas J. Shamba Jasmine Garza Politico Euler Homies Columbia Law School Ressam Consulting Dan North North America White House
"mitchell hartmann" Discussed on KCRW

KCRW

05:13 min | 2 years ago

"mitchell hartmann" Discussed on KCRW

"Week in extra unemployment payments to more than 20 million jobless Americans. That expired in mid summer, and George Washington University economist J. Shamba says the amount of cash going out to laid off workers cratered. It fell from 110 in July 2 $34 billion in September. So there's this massive drop off to the economy and also to the most vulnerable households. Those $1200 relief checks from the spring have been spent with most of the federal pandemic relief now gone. You've seen a slowing of retail sales and personal spending, Joseph Brusuelas said. Ressam Consulting says a quarter of small businesses have closed, he predicts without more federal support, including lending to small businesses more will fail. And state and local governments won't be able to keep teachers and other essential workers on the payroll, says Michael Gratz at Columbia Law School. The loss of civil service jobs will disproportionately affect minorities because they've been hired into those jobs. Bottom line, says Dan North at Credit Insurer Euler Hermes, North America. Okay, let's say we don't have a stimulus package. The economy gets pretty severely damaged in the short term, probably for five years to get back to full employment. The burden is falling to families that are running out of time and money, says Colombia's Michael Gratz. People are facing evictions, difficulty paying for food and lodging. This is a desperate situation, one that the chaos in Washington isn't making any better. I'm Mitchell Hartmann for marketplace, So there is a cost to the economy of all this Politiken, as Mitchell was telling us, there are also really big personal costs. Marketplaces. Jasmine Garza has store number two Chester Englander is an orchestra percussionists living in Ohio. He was unemployed for much of this year. So was his musician wife. They have two small Children, and he was getting 600 a week in federal unemployment benefits. From April to July. I added $6000 credit card debt in my one card, and it was clear like You know things were deteriorating incredibly fast. He's used a credit card to pay for food mortgage utilities. His parents in their seventies recently had to pitch in For a lot of Americans. The economic crisis means drawing unemployment and wiping out savings. Like Chris Dancy in Texas. I mean, our savings was eviscerated, even with mortgage deferments and lots of plans. You still you can't stop your spending past. Nancy is a health consultant who has been unemployed since the pandemic began. His husband is a schoolteacher who is still working, but with only one income dancing is nervous about the future. So is Crystal Ball Morris, who have had to defer his dream of buying a house. He works in the New York film industry and was without income for much of the year. Morris is now employed again. But as the city sees a new rise in covert cases, Morris says, My biggest here right now is if we have another shutdown in the next month, and there is no additional government assistance, then we definitely have to go start tapping into our savings again. He says he's always tried to set money aside for a rainy day, but he's worried about how many more rainy days he and his family will have to weather. I'm Jasmine Garza for marketplace. Okay, now the political insight into all of this, namely how we wound up empty handed after force, something months of negotiations. It comes to us from Politico's Jake Sherman on MSNBC this morning. Markets are Woefully uneducated about Washington. Those markets as you know, I've been on a roll since the end of March, in part because of the cares act and in part because of the hopes for another relief bill, which has eased some of the pressure. A lot of the pressure on lawmakers to deal this is idiocy. These people on Wall Street should should spend a day in Washington and talking to people because they're just they are just completely out of their minds. Or in other words, there was never gonna be a deal or hopes were faint at best, and Wall Street should unknown it. These people in any other business Wall Street analysts who have been putting 90% on a stimulus deal, any other business would be put away for fraud. I mean, it's just complete nonsense. Anybody with the brain understood this. And then today what happens, negotiations are torpedoed by the White House and Wall Street says, Hey, no. Yeah, it's all good. We'll have the details when we do the numbers. Consider the modern American grocery store aisles and aisles of almost every product you can think of really kind of a miracle of logistics and of productivity and of consumer choice. And now in this virus economy, it has to be said, not without hazard for those consumers.

Crystal Ball Morris Chester Englander Jasmine Garza Michael Gratz Washington George Washington University Mitchell Hartmann Joseph Brusuelas Euler Hermes J. Shamba North America Politico Colombia Columbia Law School Ressam Consulting Chris Dancy Dan North
"mitchell hartmann" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:51 min | 2 years ago

"mitchell hartmann" Discussed on WNYC 93.9 FM

"Long way to go in this fall semester. I'm Mitchell Hartmann for marketplace. So Mitchell was talking mostly about undergraduates and how the pandemic is changing. That experienced postgraduate education in this Corona virus economy, though, is no picnic, either. Dozens of PhD programs across the country are saying they are not going to be admitting any new students for the next academic year. That is the one that starts in 2021. Marketplaces, Eric Embarrass reports. It is a temporary pause that could have some long term effects. Colleges and universities have a lot of additional cost these days. Personal protective equipment, remote learning infrastructure, Coben 19 tests and with fewer students on campus. They have less money coming in. So, says Carla Hickman with a B, an education consulting company. Schools are making sure they can fill their commitment financially to the students who have already matriculated. One way they could do that is by not admitting new students. Princeton sociologist Dalton Conley says that's the decision his department made in regards to PhD students. It made more sense to suspend admissions for one year and have those resource is than to be killed by 1000 Little cut. But students from poor backgrounds may not be ableto wait for schools to restart admissions so they'll pursue other careers. Suzanne Ortega, with the Council of Graduate School, says that's bad for diversity. We're disrupting the flow from a more diverse undergraduate student pipeline. To a less diverse graduate student pipeline. Even undergraduates are likely to feel the effects says Gwen told her with the National Association of Graduate Professional students, especially at big State universities, where the graduate students do the majority or close to the majority of the instruction of the undergrads. This might make it very challenging to continue to provide this inequality of education. But this pause could also give graduate programs time to change, Princeton sociologist Dalton Conley says with field research suspended We have to rethink. We have to develop courses and a curriculum in for example, virtual tomography, And that, too, will take resource Is America Baris for Marketplace? So here's an interesting tidbit in the How you feeling about this economy category. Spoiler alert Pretty good, it turns out. The conference board reported this morning consumer confidence in September as high as it's been since the pandemic started also the jump in confidence from August to September. The biggest jump in 17 years. Probably chalk it up to that slowly declining unemployment rate. We will get the September jobs report on Friday morning, by the way. We, though, have been checking in with some consumers were also regular listeners to this program about what they have been consuming lately, and it seems Sometimes spending a little money. Brings a little bit of joy. This is Kelly Kolinsky in Columbus, Ohio. I wasn't quite ready to fly yet, but I felt like I really needed to fly home to check on my mom who's 89 years old. And when I'm home, I always try and get my mom to maybe spend a little money on some new things. But she was raised during the Depression, and she won't spend money on anything except for groceries. And she only buys those when she has a coupon, But this afternoon, we were looking through on old dog eared cookbook and she said, You know, your father gave this to me about a month after we were married in 1954. So you know, I think she's motivated by not wanting to spend on what she feels isn't necessary. But there's also a lot of value in the memories associated with a lot of things that she has Hi. This is Ernesto from Chicago. Not a lot of new things, but what I did do recently was invest in some Hi and ah French cookware, the enamel type that I usually would not buy because for the most part, it's just way too expensive. Now, I don't know if it's on sale. At 50%, because Businesses want to get rid of it before a possible future bankruptcy or not, I mean, that's that's how I see it. Most have been buying some use camera gear. It never goes bad. Hi. This is Ellen Murphy from Mission. L's Kansas and my current virus shopping. A stories have gone from Being mass step and gloved up to just Eyes glazed over walking through the store, picking up like things off of a very strictly written list. So I was pleasantly surprised Last week when I found A stash of tree ripened peaches. And I can tell you that there is nothing like a fresh late. Late summer peach. When you slice into it in the morning and sit down to eat it, no matter what is coming across on the radio. It almost doesn't matter..

Dalton Conley Princeton Mitchell Hartmann graduate student Gwen Council of Graduate School Eric Embarrass Carla Hickman Suzanne Ortega America Depression Kansas Kelly Kolinsky National Association Columbus Ellen Murphy Ohio Ernesto
"mitchell hartmann" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:37 min | 2 years ago

"mitchell hartmann" Discussed on WNYC 93.9 FM

"In Los Angeles on Cairo. It is Friday. Today, everybody the fourth day of September. Good as always to have you along. A macro and an economic number of the day as this pandemic get set to enter its seventh month if you can believe that is 1.37 million that his jobs added to this economy in the month of August. Three million people had been temporarily laid off came back to work and that helped bring the unemployment rate down. Almost 2% points to 8.4%. All of that is good. Like I said. But a chunk of those jobs a quarter million or so our temporary census workers. We're going to be out of work again soon. And more to the point. Job growth is slowing a million plus in August, as I said it was nearly five million a month back in June. What else? What you bear in mind Marketplaces? Mitchell Hartmann is on the putting The jobs report in context beat today. This economy has been through a lot since mid March. About 15% of all the jobs in America evaporated in just a few weeks. We've been clawing back those jobs ever since. Here's how Brad McMillan at Commonwealth Financial Network rates the latest report. It was good. It wasn't great, but it was certainly solid, it says. We're continuing to make progress, but we also have a long way to go. Gaining 1.4 million jobs would be blockbuster in normal times. But economist Beth Acres at the Manhattan Institute says Now that number may be giving the impression that we're doing pretty well digging out of this hole. But the reality is that we're only about halfway out a little over 10 million of the 22 million jobs we've lost have come back. And job gains. Air Slowing, Acres, says This is really a tale of two recoveries, Employment levels for higher income workers have almost come back to pre crisis level. Where is employment levels for low wage workers remain significantly below where they were, and it's also unclear when those workers will be able to get back to work. Jobs in bars and restaurants, for instance, are still down 25% from before the pandemic, which leaves a lot of workers out of the recovery so far. Like Cody Sorenson. He's 33 worked as a server at an upscale Italian restaurant in West Hollywood until mid March. Sorenson's on indefinite layoff. He's still getting health benefits and a $400 a week unemployment check when that runs out. I mean, I'm just gonna have to go and find like another job, or are you just going to move? I guess back on the Texas you know where he hopes they'll be less competition for any new jobs that come up. I'm Mitchell Hartmann for marketplace. All right, with that, as backdrop, let's dig in a little bit on jobs and the other news of the day. And this week, genius Milik is with The New York Times. K. Davidson is at the Wall Street Journal. Hey, you two I can't. Okay, let me start with you. Ah, picking up on Mitchell's spot, and he gave a nod to this, but I want to. I want to make sure people get it. There is despite this good, not great report today. There's some underlying fragility in this economy. Right? 29 million people on some kind of unemployment benefit small businesses closing left and right, Yeah. That's right. A cz You sort of hinted at sky. It was kind of it was kind of a mixed report. You know, on the one hand 8.4% Unemployment is much lower than where many people thought we'd be at this point, But things are still really bad. And I guess the thing to understand is that the people who are still out of work, many of them are people at the lower end of the wage scale that have jobs and industries that have been harder hit by the pandemic. Hotel workers, restaurant workers, people in industries Are still struggling to come back on. And the longer these people stay out of work. The risk is that those more and more of those job loss has become become permanent. So it's on the right track. But you know a long way to go still. Hear those permanent job losses that longstanding damage the economy. Gina is something Fisher Pala talks about a lot haven interview to morning edition this morning is gonna air I think on Monday the transcript is out for those who wanted again. I wantto parts a couple of things you said number one. Low interest rates in this economy are going to be here, and this is quoting pal for a period measured in years. That is, I mean, it's kind of we know it, but it's kind of amazing. Yeah, yeah, no surprise to bond markets, which are, you know, obviously recognizing that we're in for a really long period of low interest rates, But I think that Yeah, it's it's remarkable if you remember back to 2007 to 2009 recession and, you know, sort of within within, not a very long time span people we're talking about, you know, when is lift off? When is the fed going to raise rates? You know what? When did they start moving this extraordinary accommodation and I feel like You know, in the over the last decade, That conversation is just fundamentally shift and shifted. And a lot of that was T Drum pal who has been very clear about communicating that we're in this federation. You know, they're not planning on just like immediately raising rates As soon as we get past sort of the worst of this recession. We're in this this environment for a really long time until the job market has, you know he owed and really after what the Goddess said quite clearly is until inflation picks up. Which goes back to what he was talking about last week in pseudo Jackson Hole, As or Kate, one of the other things that pallet talked about with morning Edition today is.

Mitchell Hartmann Cody Sorenson morning Edition Cairo Los Angeles Manhattan Institute Texas West Hollywood Commonwealth Financial Network Beth Acres Brad McMillan America Wall Street Journal T Drum Milik Kate K. Davidson The New York Times
"mitchell hartmann" Discussed on KQED Radio

KQED Radio

04:29 min | 2 years ago

"mitchell hartmann" Discussed on KQED Radio

"School year for at least half of the district in the country so far. Is now familiar online teaching via zoom or something similar kid sitting at the kitchen table or a makeshift desk or line on the living room couch. A lot of those kids are going to need watching and help to with actual learning, which parents by which we mean mostly moms are going to have to provide and that is going to make it really hard for those parents to keep working and making a living. Emergency government unemployment assistance is supposed to help. But it's not for a lot of working Parents marketplaces Mitchell Hartmann talk to some of them in Seattle. A few weeks ago, King five TV in Seattle delivered the news parents were waiting for the superintendent says she knows this is not going to be easy for all families. But she says she's with covert cases in the region. Surging the school semester would start remotely learning because she thinks that this point in person instruction just is impossible. Seattle parent Jennifer Zag alone already been through this back in the spring. When her son Jack's elementary School was closed. She just lost her job is a legal assistant and was trying to find a job she could do part time from home. Because I wasn't working. I was taking Jack three days a week. Her ex husband took care of Jack the other two days. Zagalo applied for state jobless benefits denied you can't get unemployment. It turns out if you have to care for a child, but she had a fallback, federal pandemic unemployment assistance, or P u way. It's for people who don't qualify for regular state jobless benefits, including parents who aren't working because their kid's school or daycare is closed. You take over 19. Except remember those work from home jobs she applied for I ended up being denied. They said benefits or not for people who can tell the work even though she hadn't actually landed a job. Zack Alos, not alone. So most workers, jobless workers have had a really hard time applying for the way. Drake Hagner at legal Aid in Washington, D C says thousands of applicants have had to wait months to find out if they qualify. She says the rules are confusing to get benefits. A parent has to certify their available for work, even though they can't actually take a job because they have kids stuck at home due to Cove. It And there are plenty of other snags keeping parents from getting federal jobless benefits. Almost nothing is going right indeed, due to Gupta directs the center on Poverty and inequality at Georgetown Law School. He says. Childcare is scarce nationwide daycare after school and summer programs have been caught way back. But as long as some care is available, no matter how inaccessible working parents are still being denied benefits states have made the burden quite unreasonable for parents when there's not a complete closure of a child care facility when the parents might rely on family Where schools are arguably technically open, but certainly do not provide needed care for parents to work. Legal aid. Attorney Drake Hagner in D. C. Says there's a lot of uncertainty heading into the fall. What exactly happens when school's air only open for maybe half of the week for half of the kids are online learning? Can people still get their benefits or not? One thing is clear if local schools reopen, But parents keep their kids home because they're afraid of spreading Covitz vulnerable family members. Parents can't get federal jobless benefits. Seattle mother, Jennifer Zag Alot appealed her unemployment denials and one after five months without benefits. She'll get a lump sum payment going back to mid March. Meanwhile, she and her son, Jack, are getting ready to start the new school year there fully online and I have no choice but to find a telecommute job 2.5 days a week. And until she does, she and Jack will have to make do with a jobless benefit of around $540 a week. Mitchell Hartmann for Marketplace.

Jack Seattle Jennifer Zag Georgetown Law School Mitchell Hartmann Drake Hagner legal Aid elementary School Gupta Zack Alos Zagalo King superintendent Washington Attorney
"mitchell hartmann" Discussed on KCRW

KCRW

03:11 min | 2 years ago

"mitchell hartmann" Discussed on KCRW

"K through 12 education paradigm this fall, and maybe the whole school year for at least half of the district in the country so far. Is now familiar online teaching by a zoom or something similar kids sitting at the kitchen table or a makeshift desk or line on the living room couch. A lot of those kids are going to need watching and help to with actual learning. Which parents by which we mean mostly moms are going to have to provide and that is going to make it really hard for those parents keep working and making a living. Emergency government unemployment assistance is supposed to help. But it's not for a lot of working Parents marketplaces Mitchell Hartmann talk to some of them in Seattle. A few weeks ago, King five TV in Seattle delivered the news parents were waiting for the superintendent says she knows this is not going to be easy for all families. But she says she's with covert cases in the region. Surging the school semester would start remotely learning because she thinks at this point in person instruction just is impossible. Seattle parent Jennifer Zag alone already been through this back in the spring when her son Jack's elementary school was closed. She just lost her job as a legal assistant and was trying to find a job She could do part time from home. Because I wasn't working. I was taking Jack three days a week. Her ex husband took care of Jack the other two days. Zagalo applied for state jobless benefits denied you can't get unemployment. It turns out if you have to care for a child, but she had a fallback. Federal pandemic Unemployment assistance, or P U A It's for people who don't qualify for regular state jobless benefits, including parents who aren't working because their kid's school or daycare is closed due to covert 19. Except remember those work from home jobs she applied for. I ended up being denied. They said benefits or not for people who can tell a work even though she hadn't actually landed a job. Zagallo's not alone. So most workers jobless workers have had a really hard time applying for P way. Drake Hagner at Legal Aid in Washington, D C says thousands of applicants have had to wait months to find out if they qualify. She says the rules are confusing to get benefits. A parent has to certify their available for work, even though they can't actually take a job because they have kids stuck at home due to Cove. It And there are plenty of other snags keeping parents from getting federal jobless benefits. Almost nothing is going right indeed, due to Gupta directs the center on Poverty and inequality at Georgetown Law School. He says. Childcare is scarce nationwide daycare after school and summer programs have been caught way back. But as long as some care is available, no matter how inaccessible working parents are still being denied benefits states have made the burden quite unreasonable for parents when there's not a complete closure of a child care facility when the parents might rely on family Where schools.

Seattle Jack Jennifer Zag Georgetown Law School Gupta Zagallo Mitchell Hartmann superintendent Zagalo Drake Hagner King Legal Aid Washington
"mitchell hartmann" Discussed on KCRW

KCRW

04:01 min | 2 years ago

"mitchell hartmann" Discussed on KCRW

"I'm simply been ashore in for David Brancaccio. So that's 1.31 million people who filed for unemployment last week. That is about 100,000 less than the week before, And that is good news, though the July 4th holiday may have held numbers down. 32 million Americans are receiving both federal and state unemployed employment benefits Now under the federal Cares Act. Many folks we're getting an extra $600 added every week from the federal government that makes the average unemployment check about equal. To the median pay for working Americans nationwide. That extra payment runs out at the end of July unless Congress renews it. That potential loss of support is what Richmond Federal Reserve Bank President Thomas Parken is called an air pocket in the recovery marketplaces. Mitchell Hartmann has more Advocates for maintaining the payments say they're a crucial financial lifeline for out of work. Americans at a time when new jobs are scarce and going to work could be dangerous due to covert 19. Opponents argue the payments are so high they discourage people from looking for work. Dave Harris of Hoboken, New Jersey, has been on unemployment since March. I didn't really see much of a pay cut it all with that expanded unemployment. He's a car mechanic and still hasn't been called back to his job. I was actually able to use that extra $600 a week to pay down my So my credit cards if the federal payments and he says he'll look for work or go back to school, Miami bartender James Gamboa has been furloughed since March and says the federal monies allowed him to pay his bills. If it runs out, you know, get back in the swing of things. I mean, you hope we can get a handle on the pandemic, A CZ well, he was about to start a new restaurant job. But Florida's recent Koven 19 surge shut the place down. My mental Hartmann for marketplace. United Airlines is preparing to send notices of potential furloughs to almost half of its U. S workforce. That's 36,000 employees and United Workforce is not alone. Marketplaces. Nova Sappho is here with more Hey, Nova, So airlines took money from the U. S government to avoid job cuts. What happened? Well, time ran out. The federal government set aside $25 billion in grants for airlines that helped avoid layoffs so far because the airlines were prohibited from laying off employees until October. The hope was that Corona virus infections will be under better control by summer when vacation travel season heats up. And airlines would recover. Well, that's not happened. Not enough anyway. And so now it's getting closer to October. So United is warning its employees that as many as 45% could get furlough notices. The final number may not be that high, but they have to warn everyone who could be affected under federal labor rules. We know United is not alone, hear what's happening in the rest of the industry. Yeah, Not only is it not alone. But the flight attendants union said that after the furlough announcement that the airline has so far given the most honest assessment on the state of the industry, that's a quote, but other airlines have signaled cuts to come, Delta said potential furlough notices to 2500 pilots, Americans said last week. It has about 20,000 more employees than it needs. So the airline industry basically isn't expecting to recover from this pandemic for several years, and they've been encouraging employees to take voluntary buyouts or early retirement before furloughs kick in. All right. Thanks. Noah, You welcome Take a look at the numbers. This morning s and P futures are up 1/10 of a percent. NASDAQ futures up 6/10 of a percent. Dow futures down less than 1/10 of a percent, just 20 points. The 10 year Treasury yield is at 100.656%. Elon Musk. By the way, says Tesla, a is really close to developing a fully self driving car. He says. There aren't any fundamental challenges left and he thinks we'll have basic functionality. By the end of this year, Tesla stock is up 1.8% in pre market trading. Marketplace Morning report is supported by Fidelity.

United Airlines federal government James Gamboa Elon Musk Mitchell Hartmann Richmond Federal Reserve Bank David Brancaccio Tesla Dave Harris United United Workforce Nova Sappho Florida New Jersey Thomas Parken Congress Fidelity President
"mitchell hartmann" Discussed on KQED Radio

KQED Radio

04:12 min | 2 years ago

"mitchell hartmann" Discussed on KQED Radio

"Us tonight for fresh air at seven on Idiot Ate intelligence squared. US. Considers The Corona virus could reshape geopolitics. Some see the virus raising the status of China as Beijing offers assistance to struggling nations, while the Trump administration embraces America first. But others say the corona virus will diminish rather than bolster China Standing in the world a debate eight o'clock tonight and again at 1 a.m. Tomorrow morning intelligence squared US. This morning Bay Area so morning cloudiness, then Sunny Today high sixties to the mid nineties inland. U. S. Supreme Court rules unemployment law in religion. Marketplace Morning report is supported by Fidelity Wealth Management, where advisers work with their clients to develop flexible investment strategies that evolved as their needs change. Fidelity dot com slash wealth Fidelity Brokerage Services LLC. From market place in New York. I'm sory been ashore in for David Brancaccio. Earlier this hour, the Supreme Court handed down to decisions in one, the court said the Trump administration can widen exemptions. For employers who don't want to cover contraception on religious or moral grounds. In the second decision, the Supreme Court ruled employment discrimination laws did not apply to religious institutions when it comes to certain jobs, writing that under the First Amendment Courts are bound to stay out of employment disputes involving those holding certain important positions with churches and other religious institutions. Stay tuned. There'll be a lot more coverage on that today. Covad misinformation. Maybe a multi $1,000,000 business online pushers of conspiracy theories and false information make money from ads served on their sites. Marketplaces Nova Sappho has more The UK based global disinformation index estimates that English language websites trafficking in covert 19 misinformation will make some $25 million from digital advertising this year. Money reportedly comes from major brands such as Cannon, Loreal and Johnson and Johnson. The group says the websites in question publish misinformation, such as conspiracy theories about the origins of the novel Corona virus and stories about unproven and downright dangerous treatments. Sites make money when ads powered by tech giants such as Google and Amazon inadvertently populate next to the content in question because it generates user traffic. Google called the report flawed and the revenue calculations not realistic, A spokesperson said Google is taking an aggressive approach to content that makes harmful claims about covert 19. I'm nervous, Awful for marketplace. As bad as a pandemic job losses have been, it could have been a lot worse. Some companies have managed to cut their labor costs to save money without resorting to permanent layoffs. At least so far. Marketplaces Mitchell Hartmann has more In a recent survey of HR managers, outplacement firm Challenger, Gray and Christmas, found that one in three companies cut employee pay in response to the pandemic, and of that group, 55% reported that cuts allowed them to avoid layoffs. Senior VP Andy challenger says the thinking is won't have our team intact. It won't hurt morale so bad by letting people go. Even when companies do reduce payroll. Some are trying to retain ties to their workers among S and P 500 companies that have caught staff. 3/4 have done it through temporary furloughs rather than permanent layoffs, says Ganache. Raja Paan at Analytics firm. My logic I believe it was down to retain talent, he says. Among companies that did furloughs or hiring freeze is about 1/4 also reduced pay for top executives. Those some of those cuts have since been restored. I'm Mitchell Hartmann for marketplace. Let's take a look at the numbers. The Dow Jones industrial average is up 107 points. That is 4/10 of a percent. D S and P 500 is up 6/10 of a percent..

U. S. Supreme Court Mitchell Hartmann US China Google Fidelity Wealth Management Fidelity Brokerage Services LL David Brancaccio Beijing New York America Nova Sappho Bay Area Senior VP Andy challenger Raja Paan Johnson
"mitchell hartmann" Discussed on KCRW

KCRW

01:34 min | 2 years ago

"mitchell hartmann" Discussed on KCRW

"Address this problem at a time when Facebook is facing pressure from an advertiser boycott to address misinformation and hate speech on its platform. I'm nervous, awful for marketplace. As bad as the pandemic. Job losses have been 31 million Americans on unemployment rolls, It could actually have been worse. Some companies have managed to cut their labor cost to save money without resorting to permanent layoffs. At least so far. Marketplaces Mitchell Hartmann has more In a recent survey of HR managers, outplacement firm Challenger, Gray and Christmas, found that one in three companies cut employee pay in response to the pandemic, and of that group, 55% reported that cuts allowed them to avoid layoffs. Senior VP Andy challenger says the thinking is we'll have our team intact. It won't hurt morale so bad by letting people go. Even when companies do reduce payroll. Some are trying to retain ties to their workers among S and P 500 companies that have cut staff. 3/4 have done it through temporary furloughs rather than permanent layoffs, says Ganache. Raja Paan at Analytics firm. My logic I believe it was done to retain talent, he says. Among companies that did furloughs or hiring freeze is about 1/4 also reduced pay for top executives. Those some of those cuts have since been restored. I'm Mitchell Hartmann for marketplace. Let's take a quick look at the numbers. SNP features are up just barely Dow futures down less than 1/10 of a percent..

Mitchell Hartmann Andy challenger Facebook Senior VP Challenger Raja Paan Gray
"mitchell hartmann" Discussed on KCRW

KCRW

02:46 min | 2 years ago

"mitchell hartmann" Discussed on KCRW

"We don't know the exact amount it's categorized as between 2 to $5 million. Expensive private schools were on the list law firms, including what then represented President Trump and the reason we're learning about this now, sir breeze that the Treasury Department under pressure released data for who got the biggest loans? Yeah, I remember. A few weeks ago, We were talking about some big restaurant chains taking people's phones. I mean, are these revelations particularly surprising? Well, they're confirming some of the criticisms about the PPP program that money was flowing to bigger businesses than perhaps Congress intended. The issue is that the program was supposed to be for firms that didn't have other options for quickly raising cash to continue paying employees and staying in business. And we spoke with Sarah Crozier about this of the Main Street alliance, which is an advocacy group for small business to see that the most well banked businesses you know our best represented in getting that money and ultimately, maybe didn't need it as much as other businesses, particularly in the service industries. I can see where that outrage has been justified. And closures Group now wants Congress to target age, for example, geographically, perhaps to small businesses in infection hot spots where the aide maybe most needed All right, Nova. Thank you. At the end of this month, millions of unemployed Americans will get their last $600 a week. Federal pandemic unemployment check. That is unless Congress acts to extend the program. Marketplaces. Mitchell Hartmann has more Jody Soul L is 64 works for a solar energy installer in Maryland. He was furloughed in March and recently got called back for a very partial reopening. One Wake. I had 2.5 hours another week, two hours. He is still getting $880 a week on unemployment that includes 600 in federal pandemic benefits. What will his family do if that runs out at the end of July? I haven't even thought about that. That's why they make credit Cone. Financial advisory firm. The ascent has surveyed unemployed workers and research analyst Dan Albright says almost 2/3 and go less than three months. Without the extra $600 they would borrow more money and take more drastic cuts in their expenses. A recent survey by the Urban Institute finds more than four in 10 American households have suffered job or income lost during the pandemic. I'm Mitchell Hartmann for marketplace. Let's take a look at the numbers this morning, The Dow Jones industrial average is down 221 points. That is 8/10 of a percent. The S and P 500 is down 3/10 of a percent. The NASDAQ is up 3/10 of a percent..

Mitchell Hartmann Congress Sarah Crozier Trump Treasury Department closures Group President Main Street alliance Urban Institute Maryland Nova Dan Albright research analyst