'Christmas cliff' looms for millions of Americans on the verge of losing their unemployment benefits

It’s being called the “Christmas Cliff.” On Dec. 26, millions of Americans are set to lose their unemployment benefits amid the coronavirus pandemic, adding another layer of stress for those who are jobless this holiday.

Live events industry lost $30B due to COVID-19 pandemic, Pollstar says

Pollstar on Friday released its year-end report, explaining that the live events industry should have hit a record-setting $12.2 billion this year, but instead it incurred $9.7 billion in losses.

Restaurant owner breaks down exactly how much money he's losing during COVID-19 shutdowns

Dustin Lancaster, an owner of several restaurants and businesses in Los Angeles county, revealed on social media that his bar would have about $1,500 to pay $10,000 in monthly rent.

Unemployment claims jump to 853,000 amid resurgence of COVID-19

The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that some companies are cutting more jobs as new virus cases spiral higher.

New White House offer adds $600 stimulus checks to COVID-19 relief

It proposes the $600 direct payment for individuals and $1,200 for couples, which is half the payment delivered by the March pandemic relief bill.

Texas job creation appears to buck trends, but challenges remain

COVID-19 has impacted the job market for millions across the country. There are a few bright spots with recent trends but there are still more than twice as many people unemployed, in our region, compared to a year ago.

US economy will return to pre-pandemic levels by second-half of 2021, experts predict

The U.S. economy's growth is likely slowing as 2020 comes to a close, but a growing number of economists expect it to claw back to its pre-pandemic strength by the second half of next year.

Unemployment claims rise to 778,000 as COVID-19 pandemic worsens

The number of Americans applying for unemployment benefits rose last week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks.

Report: 12M Americans to lose jobless benefits day after Christmas

According to findings by The Century Foundation, a policy research institute, 12 million workers will be on one of two main CARES Act programs — Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) — when funding expires on Dec. 26.

Unemployment claims increase to 742,000 as COVID-19 cases surge

The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the economy and forcing more companies to cut jobs.

Stock market comeback on pause amid coronavirus surge

The numbers underscore how the coronavirus pandemic is worsening and threatening to drag the economy lower, at least in the near term.