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Anxiety In Appalachian Coal Country: First The Mines Closed, Then Came Coronavirus
By: Sydney Boles | Ohio Valley ReSource
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As the economic fallout from the coronavirus continues to reshape our lives, small-town business owners are worried about the future. Whitesburg, Kentucky — a town already struggling from the decline in the coal industry — is grappling with a new and serious challenge as the effort to contain the disease brings deep economic pain. The… Read More
In Weighing Business Closures, DeWine Says He’s Prioritizing Safety Over Economy
By: Andy Chow | Statehouse News Bureau
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Ohio has seen its first confirmed death caused by COVID-19. Now Gov. Mike DeWine is ordering senior centers to close as he evaluates the potential shutdown of other businesses. Throughout the course of several days DeWine closed many businesses to delay the spread of coronavirus – places with large gatherings like movie theaters and places… Read More
DeWine Tells Companies to Monitor Employee Temperatures
By: Andy Chow | Statehouse News Bureau
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Gov. Mike DeWine is laying out protocols for businesses while strongly recommending employers to take aggressive action when it comes to protecting the workplace against coronavirus. DeWine says businesses that remain open must take the temperature of every employee who enters the office, and if anyone is sick or has a fever they must be allowed to go… Read More
Fed Cuts Rates To Near Zero As Coronavirus Rips Through Economy
By: Avie Schneider | NPR
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The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.
Dow Dives 1,900 Points, NYSE Halts Trading As Stock Indexes Plummet
By: Avie Schneider | NPR
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New York Stock Exchange trading was halted temporarily after indexes plunged 7% in reaction to Saudi Arabia’s oil price cut amid increasing fears over the coronavirus epidemic’s economic impact.
WATCH: How the IMF is Trying to Reduce the Economic Fallout of Novel Coronavirus
By: PBS Newshour
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Restrictions intended to control the global outbreak of novel coronavirus continue to increase. In many countries, schools are closed, travelers face quarantine and business has ground to a halt. PBS NewsHour’s William Brangham reports and Judy Woodruff talks to Kristalina Georgieva, managing director of the International Monetary Fund, about how it is attempting to offset… Read More
Fed Cuts Interest Rates In Emergency Response To Coronavirus
By: Jim Zarroli | Scott Horsley | NPR
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The Federal Reserve’s move was unusual, coming between regularly scheduled policy meetings. Officials also left open the possibility of further cuts if the economic damage gets worse.
Despite Job Boom, More Men Are Giving Up On Work
By: Jim Zarroli | NPR
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The long economic recovery has brought unemployment to historic lows. But the number of men in the labor force during their prime working age has dropped significantly over the past 50 years.
WATCH: Why More Older Workers are Finding Themselves Unemployed as Retirement Approaches
By: PBS Newshour
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Many Americans plan to do the bulk of their retirement saving in their 50s. But what happens if you lose your job at that age instead? According to researchers, the situation is common, and laid-off older workers have a harder time finding a new job — especially one that pays their previous salary. PBS NewsHour… Read More
Amid Climate Debate and Coal’s Decline, West Virginia Considers its Future
By: Brittany Patterson | Ohio Valley ReSource
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On a recent soggy Wednesday evening, dozens of West Virginians packed a conference room inside the Charleston Coliseum and Convention Center to discuss the need for a “just transition” for coal-impacted communities. As the nation grapples with climate change, the need for a fair transition for workers and communities that depend upon coal jobs and… Read More
Analyst: Income Tax Limits Plan Could Harm Ohio Bond Rating
By: Associated Press
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COLUMBUS, Ohio (AP) – A fiscal analyst has warned lawmakers that a proposal to make it harder to raise the state income tax could harm Ohio’s bond rating. At issue is a proposed constitutional amendment that would impose a supermajority requirement in both chambers for the General Assembly to raise such taxes. Zach Schiller is… Read More
WATCH: What Does the Data Say About Trump’s Economic Policies?
By: PBS Newshour
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In his State of the Union, President Trump emphasized U.S. economic growth, arguing that his administration’s policies are driving it. Friday’s jobs report, which was stronger than many analysts had predicted, is partly in line with those assertions. But the overall American economic picture is more nuanced than Trump’s rhetoric. The New York Times’ Jim… Read More
Where Trump’s 2019 State Of The Union Promises Stand
By: Barbara Sprunt | Domenico Montanaro | NPR
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The State of the Union this year may make for a seriously awkward moment. House Speaker Nancy Pelosi will be seated over President Trump’s left shoulder Tuesday, less than two months after the Democratic-controlled House impeached him — and just as the Republican-controlled Senate will be deciding whether to keep or or remove him from… Read More
Report Finds Many Ohio Valley Communities At Deep Disadvantage in Health, Wealth
By: Becca Schimmel | Ohio Valley ReSource
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A new report finds the Ohio Valley has some of the most disadvantaged communities in the country. The study comes from the University of Michigan’s Poverty Solutions, an initiative to eliminate or alleviate poverty through action-based research. The “Index of Deep Disadvantage” combines measures of income, health outcomes, and social mobility, or the factors affecting someone’s ability… Read More
Ohio Valley Outlook: Expect A Slower Regional Economy In 2020
By: Becca Schimmel | Ohio Valley ReSource
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The Ohio Valley’s economy could see slower growth in 2020 amid continued anxiety about trade, and possible downturns in both energy and manufacturing, according to analyses and forecasts by regional economists. Michael Hicks directs the Center for Business and Economic Research at Ball State University in Indiana where he forecasts the health of the manufacturing… Read More
A Decade After A Fearful Market Hit Bottom, Stock Bulls Continue Historic Run
By: Jim Zarroli | NPR
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The S&P 500 has seen a nearly fivefold increase since the depths of the Great Recession. But some analysts say the bull market may have gone on too long, encouraging investors to take more risks.
Ohio Retailers Expecting a Slight Spending Boost this Holiday Over Last Year
By: Karen Kasler | Statehouse News Bureau
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Ohio’s more than 7,000 retailers are expecting a slight increase in sales this holiday season over last year, though where those spending increases are projected may be a surprise. For the eighth year in a row, Ohioans are expected to spend more this holiday season than the previous year. The Ohio Council of Retail Merchants… Read More
As Oil Prices Drop And Money Dries Up, Is The U.S. Shale Boom Going Bust?
By: Darius Rafieyan | NPR
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The boom that helped make the U.S. the world’s largest oil producer could be ending. Oil prices are down amid weak demand and investors no longer seem willing to write the industry a blank check.
Journalists Ask Athens Community to Set the Agenda
By: Doug Oplinger | Your Voice Ohio
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Across Ohio, journalists have been holding community conversations to ask: What will it take to make life better here? The next media sponsored conversation, open to the public, comes to Ohio University in Athens, 6-8 p.m. Thursday Nov. 21, with food and open table conversations about what people in Southeast Ohio communities need to improve… Read More
As The Climate Warms, Companies Are Scrambling To Calculate The Risk To Their Profits
By: Dan Charles | NPR
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Companies are trying to figure out the risks to their profits from a warming planet. Some of them are turning to high-tech tools of climate science.
The Trade War Has Taken A Bite Out Of China’s Economy — But It’s Complicated
By: Jolie Myers | Ailsa Chang | Sam Gringlas | Mallory Yu | NPR
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China’s economic growth has been slowing down for years. Tariffs have contributed to slower growth since early 2018, when the economic standoff began, but it’s hard to pinpoint how much.
The Coal Town Betting Big On Outdoor Recreation
By: Brittany Patterson | Ohio Valley ReSource
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Standing on the breezy outlook at Flag Rock Recreation Area, Norton City Manager Fred Ramey is taking in the panoramic view of downtown Norton, Virginia. The brick building-lined streets are framed by the verdant, rolling Appalachian mountains. Jagged, brown scars from mountaintop mining operations can be seen in the distance, reminders of the region’s history… Read More
U.S. Income Inequality Worsens, Widening To A New Gap
By: Bill Chappell I NPR
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The gap between the richest and the poorest U.S. households is now the largest it’s been in the past 50 years, the U.S. Census Bureau says.
Kentucky Unemployment Rate Rises Slightly in August
By: Associated Press
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FRANKFORT, Ky. (AP) — Kentucky officials say the state’s unemployment rate rose slightly in August. The Kentucky Center for Statistics says the state’s seasonally adjusted jobless rate was 4.4% last month. The preliminary figure is up from the 4.3% rate in July. Last month’s rate was unchanged from the statewide jobless rate in August 2018…. Read More
Fed Cuts Key Interest Rate Again
By: Associated Press
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WASHINGTON (AP) – The Federal Reserve is cutting rates for a second time this year while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion. The Fed’s move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%. The Fed’s key rate… Read More