Employment

Turning now to the labor market, unemployment was still at 8.4 percent in August and the labor force participation rate still down significantly from February. The extraordinary package of fiscal support in the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) helped to support household incomes and to offset the effect of the huge job losses in March and April. But the act's unemployment provisions have expired, and most of the businesses that received Paycheck Protection Program (PPP) loans report that they have exhausted those funds.4 In addition, one area where increased understanding of the disease has, in many places, not led to general changes in practice is in the widespread school closures this fall. Many parents with children will be forced to work less, or not at all, which is going to be a hardship for them and weigh on the economy. So, I agree with Chair Powell that it will take continued support to sustain a robust recovery. more »

"At a reception some years ago, a college student asked if I could help her with an assignment. She had one question and hoped to compose a paper by asking diverse people to respond. What, she asked, did I think was the largest problem for the 21st century. My mind raced passed privacy concerns in the electronic age, terrorist threats, deadly weapons, fierce partisan divisions in our legislatures and polity. I thought of Thurgood Marshall’s praise of the evolution of our Constitution’s opening words, 'We, the people,' to embrace once excluded, ignored, or undervalued people — people held in human bondage, Native Americans, women, even men who owned no real property. I thought next of our nation’s motto: E Pluribus Unum, of many, one. The challenge is to make or keep our communities places where we can tolerate, even celebrate, our differences, while pulling together for the common good. 'Of many, one' is the main aspiration, I believe; it is my hope for our country and world." more »

In 1938, with the outbreak of World War II looking more and more likely, the Home Secretary Sir Samuel Hoare decided to establish a women's voluntary organisation to assist in the event of possible future air attacks. On 16 May, the Women's Voluntary Service for Air Raid Precautions (WVS) was founded. When war broke out in September 1939, the WVS already had 165,000 members. Their work quickly diversified into helping in all areas of the Home Front, and their name was soon changed to the WVS for Civil Defence. Women could also volunteer to work for the Navy, Army and Air Force Institutes, known as the NAAFI. This had been founded in 1921 to sell goods to servicemen and their families, and to run recreational establishments for the armed forces. The NAAFI grew quickly during World War Two, at its largest running 10,000 outlets, including 900 mobile shops. more »

In a hyped press briefing the eve before the Republican National Convention, President Donald Trump falsely said that convalescent plasma had been “proven to reduce mortality by 35%,” even though the therapy has not yet been shown to be effective for COVID-19. On 6 separate occasions, President Trump has claimed that Europe’s excess mortality during the COVID-19 pandemic is 33% to 40% higher than America’s. But that’s only possible when cherry-picking numbers or ignoring Europe’s larger population. Facebook posts falsely claim that under Joe Biden, the “tax rate on a family making 75000 dollars would go from 12% to 25%.” Biden’s proposal does not call for a tax increase on those making less than $400,000, though analysts say an increased corporate tax rate could effectively result in a small tax increase for middle-income earners. Social media repeats an error reported by Lou Dobbs on Fox Business in July, claiming that major corporations were donating large sums of money to Black Lives Matter. The companies have pledged support for racial equality initiatives, but haven’t specified Black Lives Matter as a beneficiary. more »