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Ohio Valley Economic Outlook Grim As COVID Aid Programs End
WHITESBURG, Ky. (OVR) — With hundreds of thousands across the Ohio Valley struggling to make ends meet, a suite of coronavirus aid packages, including rent and utility relief funding, eviction moratoriums, and expanded unemployment benefits, is set to expire at the end of December. The consequences could be far-reaching. Poverty rates have soared as some federal programs,… Read More
Vaccine Could Unlock Trillions In Spending, Leading To ‘Biden Boom’
By: Scott Horsley | NPR
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Pent-up demand from households that have been cooped up over the last eight months could drive a spending boom in the spring, providing a big boost to the economy.
ARC Investing Over 15 Million In Ohio Valley Economic Projects
By: Alana Watson | Ohio Valley ReSource
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BOWLING GREEN, Ky. (OVR) — The Appalachian Regional Commission is investing another $43.3 million in communities affected by the downturn of the coal industry. The latest POWER grants from the ARC will support 51 projects in coal-dependent communities, including over $15 million for 20 projects in the Ohio Valley. The investments are going towards projects that will support broadband expansion,… Read More
Job Gains Slowed Again In August As Employers Added 1.4 Million Jobs
By: Scott Horsley | NPR
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Fewer jobs were added to the economy last month even as the unemployment rate fell to 8.4%. Job growth has slowed since June in a sign of what could be a long and painful recovery from the recession.
Study: Cutting Public Jobs Due To Pandemic Slows Economic Recovery
By: Jo Ingles | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — State agencies were forced to make cuts at the end of Ohio’s fiscal year in June to deal with coronavirus impacts. And in most cases, those have carried over into this current year’s budget. Now a liberal leaning think tank says continuing at that level will slow the economic recovery even further. The study… Read More
Ohio Businesses Say Economy Isn’t Good But They’re Optimistic
By: Karen Kasler | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — Ohio’s businesses say they’re optimistic about the future of the economy, but the coronavirus pandemic continues to have them worried. The Ohio Chamber of Commerce’s Research Foundation second quarter survey of over 400 business leaders shows three quarters plan to add jobs, but the same number said the economic climate is… Read More
Pandemic Electric Bills Are Searing Hot, As Families Stay Home
By: Scott Horsley | NPR
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With lights out in many offices and millions of people plugging in at home, residential power bills are soaring, even as overall electricity consumption slumps during the recession.
New Jobless Claims Dip Below 1 Million For 1st Time Since March
By: Scott Horsley | NPR
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Initial unemployment claims had been above 1 million for 20 straight weeks. The total receiving unemployment also dipped, to 28.3 million, as of July 25.
Effects Of Pandemic On Ohio’s Economy Could Last Years
By: Karen Kasler | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — The state’s tax revenue report for July was the first one showing gains in three months. But Ohio’s chief budget officer says she expects the economic effects of the pandemic to last for far longer than the pandemic does – perhaps years. July’s income tax collections were boosted by… Read More
‘Nothing Feels Tangible’: Virtual Is New Reality For Grads Starting New Jobs
By: Uri Berliner | NPR
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Job postings for entry-level positions popular with new college grads fell by 73%, compared with before COVID-19 hit. And for the class of 2020 who have landed jobs it’s often been a strange journey.
Big-Money Investors Gear Up For A Trillion-Dollar Bet On Farmland
By: Dan Charles | NPR
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A trillion dollars worth of American farmland will change hands in the coming years. Wealthy investors are likely to buy more of it with the power to shape rural communities and the environment.
Plan To ‘Reimagine Appalachia’ Touts Jobs, Justice and Sustainability For The Ohio Valley
By: Brittany Patterson | Ohio Valley ReSource
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MORGANTOWN, W.Va. (OVR) — A coalition of progressive policy and environmental groups has released a “blueprint” that provides a framework for how Ohio Valley communities could reap the benefits of federal action to address climate change and the COVID-19 pandemic. The plan, titled “Reimagine Appalachia” envisions a future economy for the traditionally extraction-based economies of Kentucky,… Read More
The End Of $600 Unemployment Benefits Will Hit Millions Of Households And The Economy
By: Scott Horsley | NPR
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Millions of Americans who lost jobs during the pandemic are in danger of having their incomes cut for a second time. The sudden halt in payments would be felt in households and throughout the economy.
It’s Nice To Be Rich: Wall Street Is Raking In Profits In The Stock Market
By: Jim Zarroli | NPR
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The economy is tanking, with massive layoffs and bankruptcies. But the richest sliver of the country continues to do quite well. The latest evidence: Goldman Sachs said it’s raking in money on trades.
With COVID-19 Cases Rising, Some States Slow Their Reopening Plans
By: Rachel Treisman | NPR
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Governors in several Southern and Western states are delaying their timelines, citing increases in cases and hospitalizations.
Ohio Bars Could Stay Open Until 4 AM Under New Bill
By: Karen Kasler | Statehouse News Bureau
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A bill that would allow bars and restaurants to use parking lots, green space and even streets for social distancing for customers is now being considered by the Senate. But there’s a provision in the bill that didn’t get much attention till it was on the floor – a plan to extend the hours that bars… Read More
WATCH: What The Latest Jobs Numbers Say About A U.S. Economic Recovery
By: PBS Newshour
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WASHINGTON, D.C. (NewsHour) — The number of weekly jobless claims is the lowest since the economic shutdown began in March, but it remains far above what the U.S. has experienced during other financial crises. Jerome Powell, chairman of the Federal Reserve, said earlier this week that he expects unemployment to remain elevated for years to… Read More
About Half Of U.S. Homes Lost Wages During Pandemic, Census Bureau Finds
By: Hansi Lo Wang | NPR
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Because of the COVID-19 crisis, 47% of adults say their households have lost employment income and close to 40% have delayed getting medical care, according to early results of a Census Bureau survey.
Why The Crisis May Make Powerful Corporations Even More Powerful
By: Greg Rosalsky | NPR
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As small businesses scramble for emergency assistance, big businesses get a new program of virtually endless lending from the Fed.
ARC Announces COVID-19 Grants for Lenders Helping Small Businesses
By: Emily Allen | WVPB
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WASHINGTON, D.C. (WVPB) — The Appalachian Regional Commission has announced $3.75 million for banks and other lenders who have lost money during this global coronavirus pandemic. Specifically, the grants are for lenders who work with small or local businesses and nonprofits in the ARC’s 13-state coverage area. In a press release on Monday, the commission stated the… Read More
Retail Businesses Can Start Offering Curbside Pickup on Saturday
By: Jo Ingles | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — The order from Ohio Department of Health director Amy Acton allows retail establishments to offer “curbside pickup, delivery or appointment-only” service beginning May 2. Customers must be limited to 10 at a time. Gordon Gough with the Ohio Council of Retail Merchants described what that might look like. “Order online,… Read More
Loopholes In Small Business Relief Program Allow Thriving Companies To Cash In
By: Cheryl W. Thompson | Graham Smith | NPR
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The Paycheck Protection Program is designed to help small businesses from falling off a cliff during the pandemic, but some companies on firm ground have gotten millions to expand.
Expert Involved in Pandemic Modeling says Slow Opening of Economy Could Begin May 1
COLUMBUS, Ohio (Statehouse News Bureau) — Gov. Mike DeWine says the plan to restart Ohio’s economy begins on May 1, when the stay at home order expires. But one of the experts involved in the modeling that Ohio is using to create its pandemic policy says it’ll be a slow process. Michael Oglesbee is the… Read More
Lessons From Congress’ Last Experience Helping Rescue An Economy In Free Fall
By: Kelsey Snell | NPR
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Congress isn’t known for passing broad legislation quickly. Its response to the 2008 economic crisis has parallels with the coronavirus — and this period could also mean political blowback for some.
DeWine Says State Will Start Gradual Reopening of Businesses on May 1
By: Gabe Rosenberg | WOSU
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COLUMBUS, Ohio (WOSU) — Ohio will begin the slow process of reopening shuttered businesses on May 1, Gov. Mike DeWine announced Thursday. “I will fight just as hard to get this economy back – I will give it everything I have – as I have fought to save the lives of Ohioans,” DeWine said at his… Read More
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