Market Strategist Warns 'Pain Felt On Main Street Quite Distinct From What's Reflected In Stock Market'
In an economy beset by pandemic-induced hardship, why is Wall Street thriving while Main Street is struggling?
In an economy beset by pandemic-induced hardship, why is Wall Street thriving while Main Street is struggling?
Spending from the first round of stimulus propped up the economy. But that money is gone, and a more stimulus is unlikely in the coming weeks.
More stimulus checks would help suffering Americans and prop up the sagging U.S. economy, but Democrats and Republicans haven't yet agreed on a deal.
The revised HEROES Act, passed by Democrats in the House, would still include stimulus payments and enhanced unemployment benefits.
Stimulus discussions are back on the table in Washington, but time is growing short to deliver a second round of stimulus payments before the election.
Time is running out on a stimulus package passing before the election, even as the need for another stimulus check and additional unemployment payments remains strong.
Unemployed individuals who qualify for an additional $300 under Trump's Lost Wages Assistance program may receive up to six weeks worth of benefits.
President Trump's Lost Wages Assistance program is intended to increase weekly unemployment benefits, but implementation has been slow.
States react to President Trump's executive order extending additional weekly unemployment insurance payments in the amount of $400.
Unemployment's sizable decline in July still reflects a slowing economic recovery in the face of the unchecked coronavirus pandemic.
With the first round of economic stimulus running out, millions of Americans are about to take a massive hit to their household budget.
"The labor market remains in a precarious place as COVID-19 cases surge in some parts of the country and fresh lockdown measures are adopted in response."
New unemployment claims last week were 78% below the peak during the COVID-19 pandemic.
The Latest Jobs Report Could Mean The Worst Is Behind Us
The unemployment rate took a surprising drop, but while hope exists the road to recovery remains uncertain.
Michigan's unemployment rate rocketed in April, likely setting an all-time high at 22.7%, as coronavirus restrictions shut down businesses and put people out of work.
Jill Schlesinger, certified financial planner and CBS News business analyst, looks at how to devise a game plan for paying bills when money is tight.
Since March over 80 businesses have given WARN notices across the state, with 58 being in Southeast Michigan.
In a letter to the community and staff, the University of Michigan President Mark Schlissel announced today measures to cut costs as the University bleeds money due to the Coronavirus shutdown in Michigan. In his letter, he wrote, "The pandemic also has threatened the financial stability and future strength of our university."
"The system's overwhelmed to be sure," Gov. Gretchen Whitmer said earlier this week. "While it is cumbersome, we're asking for people to be patient. We are working incredibly hard to make sure that we're able to meet the need."
Black unemployment fell to a record low in August, helped by a jump in the number of black women on the job.
Figures released Wednesday by the Michigan Department of Technology, Management & Budget show the state's unemployment rate remained unchanged at 4.2 percent in June.
A lawsuit can move forward over how Michigan bungled unemployment fraud cases.
The state says Michigan's unemployment rate was 3.9 percent in November, unchanged from October.
Michigan's unemployment rate fell by a tenth of a percentage point to 3.9 percent in October.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
A 78-year-old Chicago man was found guilty in the presumed death of his 8-month-old daughter, who was last seen more than 40 years ago in Metro Detroit.
A Wayne County Circuit Judge ruled that Michael Jackson-Bolanos will face trial in the death of Detroit synagogue president Samantha Woll, despite the defense challenging a district court ruling,
Peggy Means' only daughter was in a coma with virtually no chance of ever coming out of it, doctors told her. And yet, Means refused to let them pull the plug.
Ahead of Mother's Day, the Pontiac Housing Commission handed over the keys to a recently renovated home to a single mother and her two young children on Friday.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
There is no update on when systems will be restored after a cyberattack was detected at Ascension hospitals nationwide on Wednesday.
Jon Urbanchek, an iconic swimming coach who spent time leading the Wolverines and Olympians, has died. He was 87.
A restaurant in Detroit was named the most beautiful in Michigan, according to a list published in People Magazine.
A 78-year-old Chicago man was found guilty in the presumed death of his 8-month-old daughter, who was last seen more than 40 years ago in Metro Detroit.
United Auto Workers union members at Stellantis' Warren Stamping Plant voted on Monday to authorize a strike over health and safety concerns.
Members of UAW Local 869 are scheduled to vote on May 6 over safety concerns at the plant.
Technology originally developed for homeland security is now available in Michigan to inspect every inch of your car. Developers say UVeye is like getting an MRI for your vehicle.
A bill introduced to the Michigan Legislature is looking to decrease noise pollution around Metro Detroit, more particularly along Woodward Avenue.
Ford Motor Co.'s first-quarter net income fell 24% from a year ago as the company's combustion engine vehicle unit saw revenue and sales decline.
Prince Harry and Meghan are in Nigeria for a 3-day tour at the invitation of the African nation's military.
Taylor Swift's The Eras Tour began its European leg with four dates at the La Defense Arena in Paris with a revamped setlist.
This will be the first baby for Hailey and Justin Beiber, who announced their pregnancy after more than five years of marriage.
UmaSofia Srivastava resigned as Miss Teen USA on Wednesday, just two days after Noelia Voigt stepped down as Miss USA.
Brian Fox, a fellow producer and engineer at Albini's Electrical Audio studio in Chicago, confirmed Albini passed away Tuesday night from a heart attack.
Peggy Means' only daughter was in a coma with virtually no chance of ever coming out of it, doctors told her. And yet, Means refused to let them pull the plug.
The $5 meal could include a choice of a McChicken, a McDouble or four-piece chicken nuggets along with fries and a drink.
Maggie Steffens asked for more support for the U.S. women's water polo team, and the captain received one surprising response: Flavor Flav.
Bailey Boswell was convicted of murder in the 2017 death of Sydney Loofe. Boswell's boyfriend was also convicted and sentenced to death.
Jon Urbanchek, an iconic swimming coach who spent time leading the Wolverines and Olympians, has died. He was 87.
The fitness chain's $10 monthly membership is one of few things that had remained unchanged since 1998 — until now.
Elon Musk's Neuralink finds a brain-computer interface device captured less data a month after implant surgery.
A Metro Detroit mother wants her 1-year-old transferred to a hospital out of state after she says she raised concerns about her daughter's care at Children's Hospital of Michigan.
An 11-year-old boy in Warren has made medical history. He is one of two children in the world to receive an experimental gene therapy procedure to restore vision.
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
Maggie Steffens asked for more support for the U.S. women's water polo team, and the captain received one surprising response: Flavor Flav.
The weather was perfect for the regional Special Olympics held at Macomb County Community College in Warren.
The Olympic flame arrived in France aboard a 19th century tall ship to kick off a 7,500-mile journey to the Paris Summer Games.
Detroit will officially debut its uniforms at Comerica Park on Friday against the Houston Astros.
Here are the different ticket options fans can now purchase for the 2024 Rocket Mortgage Classic.
The roundtable discusses mobility and the importance of marque events like the 2024 NFL Draft, the Detroit Auto Show and more.
By the time this presidential race is over, Biden, Trump and their entourages may not need Michigan driver's licenses, but they'll know their way around and where the orange barrel construction zones are enough to void them on their way to campaign events.
The Motor City is putting the final touches in place for the 2024 NFL Draft as it rolls into Detroit next week.
Michael Bickers, Regional President of PNC Southeast Michigan/Detroit, and Eric Poe, CEO of CURE Auto Insurance, appeared on CBS Detroit's Michigan Matters.
Businesses across Michigan are feeling optimistic about the future after weathering the historic 100-year health pandemic that impacted every company in one way or another.
We're expecting pleasant and comfortable conditions for all the moms on Sunday.
You might get another chance to see the northern lights overnight, and there's lots of sunshine heading our way for Mother's Day.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
Dozens of high school girls will be playing flag football at Ford Field starting Saturday. Chris Fritzsching, executive director of football education with the Detroit Lions, joined CBS News Detroit to talk about the league.
A dog from Ferndale will compete in the 2024 Westminster Dog Show in New York. Samantha Gibson joined CBS News Detroit with her dog Clyde to talk about the upcoming competition this weekend.