Tag Archives: Unemployment

As Pandemic Wiped Out Workers, Covid Crisis Proved No Obstacle to Soaring CEO Pay

“This should have been a year for shared sacrifice,” said one economist. “Instead it became a year of shielding CEOs from risk while it was the frontline employees who paid the price.”

By Kenny Stancil, staff writer for Common Dreams. Published 5-28-2021

Carnival CEO Arnold Donald’s pay package in 2020 surged to $13.3 million, a 19% increase over the previous year, even though the cruise operator recorded losses of $10.2 billion. Photo: World Travel & Tourism Council/flickr/CC

Even as the Covid-19 pandemic created record losses in the second quarter of 2020—and claimed the lives and livelihoods of millions of workers—median CEO pay in the U.S. increased yet again last year, according to a new analysis.

At a time when “CEOs’ big pay packages seemed to be under as much threat as everything else,” many boards of directors “made changes to the intricate formulas that determine” executive compensation to “make up for losses created by the crisis,” the Associated Press reported Friday. Continue reading

Share Button

America ‘Should Be Ashamed’: Texas Teen Forced to Use College Savings to Prevent Mom’s Eviction

“Americans owe $70 billion in back rent that they won’t be able to pay. If we don’t get them relief, there will be millions of stories like these.”

By Kenny Stancil, staff writer for Common Dreams. Published 2-10-2021

“This is not a feel-good story,” said Public Citizen on Tuesday, February 9, 2021. “It’s a dystopian nightmare.” (Photo: Twitter screengrab from ABC7 News)

After Alondra Carmona, a high school senior in Houston, recently exhausted all of her college savings to prevent her unemployed mother from being evicted, one media outlet on Tuesday tried to portray it as an “act of kindness,” but progressives are emphasizing that the all-too-common story is an indictment of a deeply unequal society reliant on private charity as a result of policymakers’ failure to guarantee livable incomes, affordable housing and higher education, and more.

“In February of 2020, my mom broke her ankle and was not able to work,” Carmona explained in a GoFundMe ad she created to support her family. “Come March, the coronavirus started, which added to the financial problems we already had. Today, I found out that my mom has not had a job for 3 months and hid it from us. She owes two months of rent and will most likely get evicted in March.” Continue reading

Share Button

‘Hunger Like They’ve Never Seen It Before’: US Food Banks Struggle as 1 in 6 Families With Children Don’t Have Enough to Eat

“We’re now seeing families who had an emergency fund but it’s gone and they’re at the end of their rope,” said one Texas food bank director.

By Brett Wilkins, staff writer for Common Dreams. Published 11-27=2020

Lines for a food bank in Little Rock, Arkansas. Screenshot: CNN

One in six U.S. families with children don’t have enough to eat this holiday season, a national emergency exacerbated by the coronavirus pandemic and the unemployment crisis it has generated. Over the past several days, remarkable reporting in the Washington Post and National Geographic, among other outlets, has explored this alarming trend.

According to Feeding America, the largest hunger relief organization in the U.S., more than 50 million people will experience food insecurity by the end of the year. Among U.S. children, the figure rises to one in four. The group, which runs a network of some 200 food banks across the nation, says it distributed over half a billion meals last month alone, a 52% increase from an average pre-pandemic month. Continue reading

Share Button

Experts Warn Trump Executive Action on Unemployment Insurance Deliberately Leaves Out Poorest Americans

“Literally every new detail about these executive orders confirms that in addition to being wildly unconstitutional, they will do absolutely nothing to help anyone who’s suffering.”

By Jake Johnson, staff writer for Common Dreams. Published 8-10-2020

On top of serious questions about the directive’s legality and workability, experts are warning that President Donald Trump’s executive action to extend the federal unemployment insurance boost at $400 per week—using $44 billion in funds meant for disaster relief—leaves out the poorest Americans by design.

The language of Trump’s unemployment memorandum issued over the weekend defines “eligible claimants” as those receiving “at least $100 per week” in state unemployment benefits—meaning that laid-off workers currently receiving less than $100 per week in aid will not see a dollar in federal relief unless states agree to increase their benefits. Continue reading

Share Button

With GOP Refusing Urgent Relief for Main Street, Tens of Thousands of Shuttered US Businesses Now Closing… Permanently

Permanent closures now account for 55% of all closed businesses since March 1.

By Julia Conley, staff writer for Common Dreams. Published 7-24-2020

Photo: Mike Mozart/flickr/cc

With Republicans in Congress intent on drastically reducing aid for unemployed Americans and altering the Paycheck Protection Act in the next coronavirus relief bill, workers across the country are rapidly losing hope that they will ever be able to return to their jobs, according to new polling.

A survey released Friday by AP-NORC found that while 78% of workers who were furloughed or laid off in the early days of the pandemic believed in April that they’d be able to return to work eventually, just 34% are optimistic about their prospects now. Just 18% have already returned to their jobs, and 47% say they no longer believe their old jobs will be available ever again.  Continue reading

Share Button

‘Should Be Bigger News’: Analysis Finds Nearly One Third of Owed Unemployment Benefits Have Not Been Paid

Bloomberg found a $67 billion gap between the sum of benefits paid out by the Treasury Department and the amount that is owed to jobless Americans.

By Jake Johnson, staff writer for Common Dreams. Published 6-3-2020

Volunteers at the North Texas Food Bank. Photo: North Texas Food Bank/Twitter

A Bloomberg analysis released Tuesday estimates that nearly a third of the unemployment benefits owed to jobless Americans have not yet been paid out, a finding critics described as a “scandal” deserving of more media attention as millions of people struggle to afford basic expenses due to the Covid-19 pandemic.

“The Treasury disbursed $146 billion in unemployment benefits in the three months through May,” Bloomberg reported. “But even that historic figure falls short of a total bill that should have reached about $214 billion for the period, according to Bloomberg calculations based on weekly unemployment filings and the average size of those claims.” Continue reading

Share Button

‘How the Trump White House Sees You’: Top Economic Adviser Under Fire for Calling Workers ‘Human Capital Stock’

“They’ve always been indifferent to human life. And in the face of mass death, the masks are coming off.”

By Jake Johnson, staff writer for Common Dreams. Published 5-26-2020

White House economic adviser Kevin Hassett speaks to members of the press. Screenshot: C-SPAN

In a remark critics characterized as further evidence that the Trump administration views workers as nothing more than disposable tools of economic growth and corporate profit, White House economic adviser Kevin Hassett on Sunday nonchalantly referred to laid-off employees as “human capital stock” as he pushed people to return to their jobs amid the Covid-19 pandemic.

Voicing optimism about the potential for a speedy economic recovery even as U.S. unemployment surges to levels not seen since the Great Depression, Hassett told CNN Sunday that “our capital stock hasn’t been destroyed, our human capital stock is ready to get back to work, and so that there are lots of reasons to believe that we can get going way faster than we have in previous crises.” Continue reading

Share Button

Senate Bill Would Guarantee Paychecks to Laid-Off Workers for Rest of 2020 ‘To Avoid Another Great Depression’

“We cannot continue to allow tens of millions of Americans to lose their jobs, income, and health insurance during this horrific pandemic,” said Sen. Bernie Sanders, one of the bill’s lead sponsors.

By Jake Johnson, staff writer for Common Dreams. Published 5-21-2020

Unemployed men queued outside a depression soup kitchen opened in Chicago by Al Capone. Photo: Public domain

Sens. Bernie Sanders, Mark Warner, Doug Jones, and Richard Blumenthal on Thursday unveiled legislation aimed at stemming coronavirus-induced mass layoffs in the United States by guaranteeing paychecks and healthcare benefits to laid-off and furloughed workers for the rest of 2020.

The Paycheck Security Act—introduced with support from senators across the ideological spectrum of the Democratic caucus, and with the notable backing of Minority Leader Chuck Schumer (D-N.Y.)—would massively expand the existing Employee Retention Tax Credit to cover wages, salaries, and benefits for laid-off or furloughed workers up to $90,000 per year. Continue reading

Share Button

‘National Day of Mourning’ Protests This Week to Condemn GOP Failures Amid Mass Suffering Caused by Covid-19

“This should be political suicide. Let’s make sure it is.”

By Jake Johnson, staff writer for Common Dreams. Published 5-18-2020

Photo: Sarah Sophie Flicker/Twitter

With Republicans in Congress stonewalling the possibility of any additional coronavirus relief even as tens of millions of people across the U.S are newly out of workuninsuredhungry, and unable to afford rent, a coalition of progressive advocacy groups is planning nationwide protests this week to condemn GOP obstruction and demand the urgent passage of desperately needed aid for people and families.

On Wednesday, funeral-style actions in more than 20 states across the country will mourn the nearly 90,000 people who have died of Covid-19 and denounce President Donald Trump and the GOP for failing to take sufficiently urgent and bold action against the pandemic. The “National Day of Mourning” was organized by MoveOn, Indivisible, the Center for Popular Democracy, and other groups. Continue reading

Share Button

American Weapons Manufacturers Are Thriving Even as the US Economy Suffers

Washington has made it a priority to radically overhaul the military in double time, designating weapons manufacturers as “essential” services during the pandemic.

By Alan Macleod.  Published 5-13-2020 by MintPress News

Photo: U.S. Air Force/Brad Fallin)

The economy has crashed. A nationwide pandemic that has (officially) claimed some 84,000 Americans has also resulted in an estimated 36 million filing for unemployment insurance and millions frequenting food banks for the first time. Yet business is booming for one unlikely industry; weapons manufacturers are busier than ever and are even advertising for tens of thousands of more workers.

Northrop Grumman announced that it was planning to hire up to 10,000 more employees this year. Airlines are being hit particularly hard, as the number of people flying on commercial planes has cratered. Raytheon, who supplies parts to civilian aircraft manufacturers, has lost a great deal of business. Yet it is still advertising 2,000 new jobs in the military wing of its business. Boeing, who endured a torrid 2019, with multiple high-profile crashes of its 737 MAX-8 airliner, is preparing to lay off ten percent of its staff as airlines predict a long and sustained drop in air travel. Nevertheless, it is looking to add hundreds of new workers in its defense, intelligence, and cybersecurity departments. Continue reading

Share Button