Resurgence of Jobless Claims Signals Prolonged Economic Depression

Cover photo of European Central Bank Forum on Central Banking by Rev By Mike Talavera Last week marked the first sharp rise in applications for unemployment benefits since early October, jumping from 18,000 the previous week to over 743,000. The spike comes as the economy has struggled to bounce back since the crisis began in March, forcing senior government officials to recognize the inherent inequality … Continue reading Resurgence of Jobless Claims Signals Prolonged Economic Depression

Largest Drop In Health Insurance During Economic Crisis and Pandemic

By Peter Cherry 5.4 million people in the US have lost health insurance coverage corresponding to job losses that happened between February and May, making it the largest single-year drop in health coverage ever in the US. “We knew these numbers would be big,” said Stan Dorn, the executive director of NGO National Center for Coverage Innovation. “This is the worst economic downturn since World … Continue reading Largest Drop In Health Insurance During Economic Crisis and Pandemic

Los Angeles: Boyle Heights Mariachis Hold Relief Concert

By Felipe Vera On Friday May 8, out-of-work mariachis held a concert to raise relief funds as they have been especially impacted by the economic crisis, unable to work due to COVID-19 restrictions and ineligible to receive unemployment or similar benefits. The event was hosted by anti-gentrification organization Defend Boyle Heights, and as it began Mariachi Plaza was covered in posters made by the mariachis, … Continue reading Los Angeles: Boyle Heights Mariachis Hold Relief Concert

Update: US Unemployment Claims Reach a Record 10 Million

Cover Image: Paintings by Ronald Debs Depicting the Hunger March During Great Depression By Ester Harding The US Labor Department reports that the number of unemployment claims skyrocketed last week by 6.65 million, bringing the total number up to 10 million people filing for unemployment benefits over the past two weeks. This high number does not even reflect the total number of unemployed workers, only … Continue reading Update: US Unemployment Claims Reach a Record 10 Million