Time Use Survey, “Free Money” Programs


SAN DIEGO (AP) – The outbreak of COVID-19 across the United States last year nearly doubled the proportion of people working from home, with the change most pronounced among college graduates and workers in fields such as finance and professional services. The share of employed people working at home rose from just 22% in 2019 to 42% in 2020. This was one of the findings of an annual government survey that documented the profound impact of the pandemic on daily life. of Americans since the viral pandemic struck in March of last year. The American Time Use Survey details how people spent their time in the past year, from work to relaxation to sleep.


Free money for everyone? Mayors hope local testing will bring big change

LOS ANGELES (AP) – Dozens of cities and counties and the state of California are experimenting with giving some low-income residents a guaranteed income of $ 500 to $ 1,000 each month to do as they please and follow what happens. The Mayors for a Guaranteed Income coalition plans to use the data to lobby the White House and Congress for a guaranteed federal income or, for starters, to make the new $ 300 per month child tax credit permanent. The so-called free money pilot programs show how quickly the concept has become a serious political proposition during the pandemic. Critics criticize them as unaffordable or discouraging people from working.


Yellen presents emergency debt ceiling measures to Congress

WASHINGTON (AP) – Treasury Secretary Janet Yellen told Congress she would start taking emergency action next week to prevent the government from an unprecedented default on the national debt. She warned that a default would cause “irreparable damage to the US economy and the livelihoods of all Americans.” In a letter to House and Senate leaders on Friday, Yellen said his actions would buy time until Congress can pass legislation to raise the debt limit or suspend the limit again for a certain period of time. time. The debt limit has been suspended for the past two years but will come back into effect on July 31. Total debt subject to the limit currently stands at $ 28.4 trillion.


Wall Street joins record-breaking eventful weekend

NEW YORK (AP) – Stocks hit record highs on Wall Street on Friday and the Dow Jones Industrial Average closed above the 35,000 level for the first time. The Dow, S&P 500 and Nasdaq all finished with gains above 1% for the week. They each returned to record highs after ruling out the steep drop that slashed the S&P 500 by 1.6% on Monday. One day’s swoon came as concerns grew about a potentially sharp slowdown in the economy. But the market rebounded as large companies reported better-than-expected earnings and investors once again viewed any decline in stocks as just a chance to buy low.


Americans Spend Again, American Express Profits Explode

NEW YORK (AP) – American Express Co. revenues jumped in the second quarter as people started spending more at a time when many are getting the COVID-19 shot and feeling more comfortable going outside again in restaurants, shops and places of entertainment. Revenue, net of interest expense, rose to $ 10.24 billion from $ 7.68 billion, supported by growth in cardholder spending. Analysts polled by Zacks Investment Research expected revenue of $ 9.47 billion.


GM issues 2nd bolt recall; defective batteries can cause fires

DETROIT (AP) – General Motors is recalling for the second time certain older Chevrolet Bolts to address persistent battery issues that can set electric cars on fire. Until repairs are done, GM says owners should park cars outside and limit charging to 90% of battery capacity. They also shouldn’t drain batteries below 70 miles of range. GM says the bolts should not be loaded overnight and should be parked outside immediately after being loaded. The second recall comes after two bolts that had been repaired in a previous recall caught fire. It covers around 69,000 bolts worldwide as of 2017, 2018, and part of the 2019 model year. GM says it’s still working on repairs, but battery parts are likely to be replaced.


$ 1million fine after nitrogen kills 6 people at Georgia poultry factory

ATLANTA (AP) – Federal workplace safety officials are proposing nearly $ 1 million in fines against four companies following a liquid nitrogen leak in January that killed six workers at a processing plant poultry from northeast Georgia. US Secretary of Labor Marty Walsh announced the citations and fines imposed by the US Occupational Safety and Health Administration on Friday. Foundation Food Group, owner of the Gainesville plant, was cited for 26 offenses with a proposed fine of $ 595,474. OSHA fines and citations are often reduced as a result of formal and informal appeal processes. Foundation Food did not immediately respond to an email seeking comment. A new freezer line malfunctioned on the morning of January 28, sending out a cloud of liquid nitrogen vapor.


Germany toughens rules for travel from Spain and the Netherlands

BERLIN (AP) – Germany classifies Spain and the Netherlands as “high incidence areas”. This means that most people arriving from those countries who are not fully vaccinated will need to self-quarantine from next week. The National Center for Disease Control said on Friday the change would take effect on Tuesday. The change in status in the middle of the summer travel season will upset some people from Spain and likely turn off more future vacationers. Portugal, Cyprus and Great Britain are already listed as “high incidence areas”.


The S&P 500 gained 44.31 points, or 1%, to 4,411.79. The Dow Jones Industrial Average rose 238.20 points, or 0.7%, to 35,061.55. The Nasdaq added 152.39 points, or 1%, to 14,836.99. The Russell 2000 Small Business Index rose 10.17 points, or 0.5%, to 2,209.65.

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