Commentary California officials acknowledge that at least $20 billion dollars were stolen from the state by unemployment insurance fraud during the pandemic. However, it’s probably a lot more. Some experts believe it to be as high as $40 to $50 billion. This is more than the entire state budget of most states! It amounts to…
Where Did Over $20 Billion in Fraudulent Benefits Go and Why Don’t Californians Care?
US Economy: Slowing Growth and Inflation
Commentary Two important economic indicators recently released tell the same three-part story: the post-pandemic recovery continues to proceed nicely; the pace of growth is slowing, but that is to be expected; inflation shows no sign of abating. The first of these indicators is the Labor Department’s employment report. It shows that unemployment has continued to…
Capitol Report (April 1): Doubts on Legalizing Weed Remain in GOP
April 1, 2022
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The unemployment rate is nearing pre-pandemic lows, but business owners are struggling to hire qualified workers. The labor force added 430,000 new jobs in March. Some states have already legalized marijuana, and Friday, lawmakers on Capitol Hill took action to legalize it on the federal level. We’ve reached a new milestone on our road to recovery…
Unemployment Rate Hits New Pandemic Low; Sen. Warren Wants a Fed Digital Currency | NTD Business
Last month, 431,000 jobs were added, the jobs market continues to be strong, and the unemployment rate also hits a new pandemic low. Sen. Elizabeth Warren calls for a central bank digital currency. What are the pros and cons? Chinese property developers are in the spotlight again, and not in a good way. A slew of them just…
SoCal Unemployment Rates Drop in February: EDD Reports
March 25, 2022
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Unemployment rates slightly dropped in Los Angeles and San Diego counties in February 2022, according to figures released on March 25 by the state Employment Development Department (EDD). Los Angeles County’s seasonally adjusted unemployment rate dipped to 6.4 percent in February, down from a revised 6.9 percent in January and from the 10.7 percent rate…
Capitol Report (March 24): Trump Sues Hillary Clinton, DNC
March 24, 2022
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The United States is leveling a fresh wave of sanctions on Russia, as world leaders gather in Brussels. But what did they say was another major concern besides Russia? Are these sanctions enough to hold Russia accountable and deter China from invading Taiwan? NTD sat down with Congressman James Comer to discuss. China wants to help…
San Francisco Mayor’s “Welcome Back to SF Pledge” Needs More Substance
March 15, 2022
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Commentary On March 3, San Francisco Mayor London Breed announced the “Welcome Back to SF pledge”—a commitment by large private employers to return their workforce to offices in several areas of the city by the end of March. When we first heard about this, we thought, “Terrific!” and pored over the press coverage for the…
Economy Adds 337,000 Jobs in February, Unemployment Rate Falls to Pre-Pandemic Level
Statistics Canada says the economy added 337,000 jobs in February, more than offsetting the loss of 200,000 jobs in January as the unemployment rate fell below pre-pandemic levels. The unemployment rate dropped to 5.5 percent in February compared with 6.5 percent in the first month of the year. That is the lowest it’s been since…
US Job Growth Beats Expectations in February, Unemployment Falls
The Bureau of Labor Statistics released its closely watched monthly labor report on Thursday, indicating that non-farm payrolls rose by 678,000 in February, surpassing expectations and reducing unemployment to a nearly two-year low of 3.8 percent. The Employment Situation Summary comes hot on the heels of the monthly payroll report by ADP, which indicated a…
Jobless Claims Jump to Higher-Than-Expected 248,000
New weekly filings for unemployment insurance—a proxy for layoffs—have reversed three consecutive weeks of declines and notched higher than analysts predicted, though jobless claims are still generally running at near pre-pandemic levels, suggesting the labor market recovery remains intact. First-time filings for unemployment insurance rose by 23,000 to 248,000 for the week ending Feb. 12,…
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