The output gap is the difference between expected economic output under current law and possible economic output if the economy were operating at full potential.
Newsom called for a "focus on public health" when asked about the petition, which campaigners say has more than 800,000 signatures.
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Designers and health officials have developed ways to limit risk of infection from COVID-19 and other viruses. And even with the development of effective vaccines, the office as we have known is likely never to be the same again.
73 percent of Republicans now say they expect periods of widespread unemployment or depression to take place within the next five years, up from 28 percent last month.
"While the pandemic is still seriously affecting the economy we need to continue extraordinary fiscal support," said Janet Yellen, Biden's pick for Treasury Secretary.
The Dow Jones Industrial Average's close above 30,000 for the first time in history underscores the underlying strength of the U.S. economy and hopes for a complete recovery from the ravages of the COVID-19 pandemic.
Retail sales increased less than expected in October and are set to slow further, held back by the second wave of the pandemic and the uncertainty over when the next round of government support will come.
The United States runs a trillion-dollar annual trade deficit because it has lost most of its manufacturing industries. Although we created all the industries of the digital age, they mostly have migrated overseas.
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President Trump touts the pre-pandemic economy. But residents in 11 of the 16 counties on his final campaign tour have seen slower annual real-wage growth during his administration compared to the last three years of the Obama administration, on average.
Nancy Pelosi said Democrats won't accept a bill now that is smaller than their $2.2 trillion demand and then dole out more relief if Biden takes office in January.
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Annual wage statistics, released by the Social Security Administration, showed roughly 86 million U.S. workers earned $35,000 or less throughout last year.
The Senate majority leader's remarks only reaffirm the political reality of trying to forge a bipartisan agreement leading into a major election with a president who continues to offer about-face positions on whether he wants more economic relief before voters cast their ballots.
The only thing that has become increasingly clear is that no additional aid will be afforded to Americans before Election Day.
If four key racial gaps for African Americans had been closed 20 years ago, $16 trillion could have been added to the U.S. economy, the study by Citigroup says.
Campaign manager Bill Stepien is reassuring nervous Republican donors that despite being outspent so far, the president's campaign has big plans.
The roughly $500 billion bill is Republicans' slimmest relief proposal yet, a "targeted" measure that Senate Majority Leader Mitch McConnell will try to advance in the upper chamber later this week after trying to rally GOP colleagues.
Mike Pence praised President Donald Trump as the "best friend American workers have ever had."
The transition rate from temporary to permanent layoffs nearly doubled from June to July.
"You don't need to shut down businesses that you don't need to shut down," said St. Louis Federal Reserve President James Bullard.
"Without dramatic change, there is no end in sight, and we face an impending liquidity crisis," Postmaster General Louis DeJoy said earlier this month.
"It's true there has been a rebound, but not because of anything the president has done," says Eric Winograd, chief U.S. economist at AllianceBernstein.
Partisan barbs offered by top lawmakers Thursday amplified just how divided Washington's leaders are over how—or even if—they should further assist the American people in recovering from the pandemic's toll on the U.S. economy.
"I said come back when you're ready to give a higher number," House Speaker Nancy Pelosi said of the failed negotiations with Trump administration officials.
The president has two choices, according to Senate Minority Leader Chuck Schumer: keep negotiating with Democrats or issue an executive order.