Economy

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Another 2.1 million seek unemployment benefits. The Coronavirus Recession will stick it to millennials

The Department of Labor reported Thursday that yet another 2.1 million Americans, on a seasonally adjusted basis, applied for initial state unemployment benefits in the week that ended May 23. Counting these new applications makes for a total of 40.5 million workers who have filed for initial benefits over the past 10 weeks. Add in the millions of Americans who are receiving […]

May 29th

5 tips for shopping sustainably and avoiding greenwashing

Sustainability and eco-brands on the raise, we find some are far off being ethical or align with sustainable values. Here’s how to step up from greenwashing & find out whether or not a brand is sustainable. By Emily Folk The colossal impact of fast fashion on the environment is better understood now than it was […]

May 24th

100% Renewable Energy: The emerging power of microgrids

Over many decades, the centralized power grid — a one-way flow of electricity, generated by large, remote power plants and distributed over miles of transmission lines to homes and businesses — succeeded in delivering electricity across continents to billions. But in recent years the system’s shortcomings have become increasingly evident. By Justin Gerdes Ensia The […]

Data: As another 2.4 million file new unemployment benefit claims, economists project years-long impacts

The Department of Labor reported Thursday that 2.38 million workers filed new claims for unemployment benefits in the week ending May 16. That brings the total count for the past nine weeks to a seasonally adjusted 38.3 million. Add to this the unprecedented 4.8 million that the government defines as having left the labor force in the past two months—but who say they want a job. […]

May 21st

As we move away from oil and coal, ensuring a fair transition for US fossil fuel workers

Long before the coronavirus (COVID-19) hit and oil prices collapsed, the U.S. fossil fuel industry and its workers were vulnerable. Threats included increasing cost-competitiveness of renewable energy compared to fossil fuels, investor concerns about financial risks and stranded assets, and a changing policy landscape (at state and local levels at least) seeking to meet decarbonization […]

Eight-week Coronavirus unemployment total: 36.5 million (and that’s just those who can apply for benefits)

As expected, the Department of Labor Thursday announced another tsunami of new claims for unemployment insurance benefits, a seasonally adjusted 2.98 million of them in the week ending May 9. That is slightly less than the previous week’s tally. But since coronavirus-related layoffs began in the second week of March, 36.5 million people have made new benefit claims. By […]

May 14th

The Coronavirus bailout is working – for the rich

The economy is in free fall but Wall Street is thriving, and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government’s massive rescue efforts. Ten weeks into the worst crisis in 90 years, the government’s effort to save the economy […]

Renewable Roundup: Big banks lining up to finance big batteries

We’ve reached a significant tipping point in how the battery storage market is financed, shifting from expensive private equity investments to ordinary bank finance. Which will be another factor leading to a terawatt of storage by 2040. By Mokurai Banks Finally Start to Spend Big on Giant Batteries Once reluctant to finance big projects, lenders […]

May 14th

Trump beats Obama – US lost twice as many jobs in April than the entire Great Recession

Each month, Automatic Data Processing Inc., which handles payrolls for about a fifth of U.S. private employment, releases its job report two days before the government’s Bureau of Labor Statistics announces its own findings for both private and public sector jobs. ADP reported Wednesday that non-farm private sector employment fell by 20,236,000 last month. That’s a horrendous number. But […]

May 7th

Leading economists: Green coronavirus recovery also better for economy

In the aftermath of the global coronavirus pandemic, governments are likely to mobilise significant spending to reinvigorate their economies. Our new research, based on surveys of more than 200 of the world’s most senior economists and economic officials, suggests that spending this money on climate-friendly “green” policy initiatives could not only help shift the world closer to […]