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?
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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.
Officials from California's unemployment benefits agency said Wednesday it cleared about 246,000 of its more than 1.6 million backlogged claims following a two-week "reset" where it stopped taking new applications and focused on improving its technology.
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 Employment Development Department reopens for business this week. The agency is promising major security changes after a government strike team found rampant inefficiencies and fraud. One big reason for much of the problem is organized crime.
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.
California's unemployment agency is not answering 60% of the calls it receives for help as the overwhelmed department struggles to work through more than 1 million pending claims five months into the pandemic.
Normally, adding more than 140,000 jobs would be cause for celebration by the standards of the past few decades. But the coronavirus has upended what's normal.
States react to President Trump's executive order extending additional weekly unemployment insurance payments in the amount of $400.
Gov. Gavin Newsom on Monday said President Trump's unemployment plan falls far short of what California needs in terms of funding and addressed the state's ongoing issues with COVID testing data for the first time.
Unemployment's sizable decline in July still reflects a slowing economic recovery in the face of the unchecked coronavirus pandemic.
Californians who have lost their jobs now appear to be losing some hope of ever being called that to work.
Negotiators on a huge coronavirus relief bill reported slight progress after talks resumed Monday in the Capitol, with issues like food for the poor and aid to schools assuming a higher profile in the talks.
Nearly 30 million out-of-work Americans - including thousands in the Bay Area - are scrambling to figure out pay for basic expenses as expanded, federal $600-a-week unemployment benefits expire.
With the first round of economic stimulus running out, millions of Americans are about to take a massive hit to their household budget.
Thousands of workers who sell food to the fans at Chase Center and Oracle are out of a job, due to the pandemic.
A new COVID-19 stimulus bill was expected to be unveiled on Monday by Republican leaders after the $600 weekly federal unemployment boost expired for millions of Americans over the weekend.
The extra $600 federal unemployment benefit that has been a lifeline for about 30 million Americans is set to expire this weekend.
California unemployment claims have climbed to their highest levels in nearly three months as surging coronavirus cases halt plans to reopen the economy, and an extra $600 in weekly federal unemployment benefits is set to expire at the end of the week.
California added a record 558,000 jobs in June as many more businesses reopened but the gains announced Friday by the state are expected to be short-lived.
As the state's economy begins reawakening from it's more than 3-month slumber brought on by the COVID-19 outbreak, signs of the damage left behind from the shutdown continues to mount.
An 8-year-old child was airlifted to a hospital after plunging 30 feet from a chair lift at the Sierra-at-Tahoe ski resort over the weekend, authorities said.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
President Trump told CBS News the U.S. war with Iran is "very complete," and said the U.S. "could do a lot" about the Strait of Hormuz.
An early morning fire at an apartment complex in Monterey on Monday injured six people and displaced dozens of residents, authorities said.
Rep. Kevin Kiley of California said Monday he was immediately leaving the Republican Party to become an independent.
An 8-year-old child was airlifted to a hospital after plunging 30 feet from a chair lift at the Sierra-at-Tahoe ski resort over the weekend, authorities said.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
An early morning fire at an apartment complex in Monterey on Monday injured six people and displaced dozens of residents, authorities said.
Rep. Kevin Kiley of California said Monday he was immediately leaving the Republican Party to become an independent.
Anthropic sued the Defense Department and other federal agencies on Monday over the government's move to designate it a risk to the supply chain.
Crews have begun clearing debris from the site, which will become a 14-story building designed to provide affordable apartments specifically for artists, along with space for live creative performances.
The Chinese New Year Parade took place Saturday in San Francisco and was free to attend for the public.
Over time, Marie Hurabiell says her own political identity has evolved. A former Republican, she now describes herself as representing what she calls San Francisco's pragmatic middle.
A stabbing in San Francisco's Chinatown caught on camera on Thursday left the victim severely injured, and a suspect was arrested, police said.
Inside a family garage on the Peninsula, instead of seeing parked cars, one can find bins packed with clean, used school uniforms and two busy young brothers.
Dublin teachers began striking on Monday morning after late negotiations on Sunday with the school district failed to reach an agreement.
The school has canceled classes on Monday in Ms. Bobo's honor and to help the tight-knit community process the tragedy.
The city said there was no evidence of community-spread or of an outbreak, and that the health advisory was issued to give health care providers guidance.
London Scott, 15, Xyer Thomas, 16, and Kaliyah Jones, 17, were last seen in San Leandro on Friday, around 6:20 p.m., near 163rd Avenue and East 14th Street, the CHP said.
Police said a man and a woman were killed in the shooting, and five others were injured. The shooting happened around 3:30 a.m. on the 400 block of 14th Street.
The Valley Christian High School team, called Wildfire Quest, in San Jose, is a finalist in the $11 million global XPRIZE Foundation Wildfire competition, competing against the top AI and defense innovators.
A teacher aide on California's Central Coast was arrested for allegedly abusing a nonverbal special needs student by striking the teen with a stick, police said.
Two vehicles traveling on Highway 101 in Sunnyvale were damaged after a tall tree fell onto the freeway Thursday afternoon, authorities said.
Santa Clara County Sheriff Robert Jonsen said the cost of doing business has dramatically changed since the last time they negotiated a contract in 2014.
A San Francisco Bay Area woman who was dubbed a "party mom" by prosecutors has been convicted in connection with hosting parties for her teenage son and her friends, in which she encouraged drinking and sexual acts during the pandemic.
A parade of vintage Army vehicles passed by Dick Sharp's home in Windsor, a salute to wish him a happy birthday. He recalled the years following the war as "the best of times," when education was readily available, and opportunities were everywhere.
Neighbors are worried that at some point, that system will get too costly to keep up. The timetable for returning to normal isn't clear either.
A group of women came together in Sonoma County in 1980 to establish Women's History Week. That set the groundwork for what would ultimately become Women's History Month, still celebrated nationwide today.
A man suspected of multiple bank robberies in the North Bay was arrested Thursday in a multi-agency operation, authorities said.
A Santa Rosa man will likely spend the rest of his life in prison after being convicted in a shooting at a shopping center in 2024, prosecutors said.
The San Francisco 49ers agreed to a four-year, $17 million contract with kicker Eddy Pineiro to keep him off the free agent market next week.
Oksana Masters has competed at every Paralympics since 2012 and is the most decorated American Winter Paralympian.
The San Jose Sharks signed goalie Alex Nedeljkovic to a two-year, $6 million contract extension before the trade deadline.
Brandon Podziemski had 26 points, De'Anthony Melton added 23 and the short-handed Golden State Warriors outlasted the Houston Rockets 115-113 in overtime Thursday night.
The San Francisco 49ers are hiring former Chicago Bears head coach Matt Eberflus as a defensive assistant on coach Kyle Shanahan's staff.
Police said a man and a woman were killed in the shooting, and five others were injured. The shooting happened around 3:30 a.m. on the 400 block of 14th Street.
A stabbing in San Francisco's Chinatown caught on camera on Thursday left the victim severely injured, and a suspect was arrested, police said.
Police in Berkeley arrested three people in connection with a home repair scam targeting the city's elderly residents, saying they are searching for additional suspects.
A man suspected of multiple bank robberies in the North Bay was arrested Thursday in a multi-agency operation, authorities said.
A teacher aide on California's Central Coast was arrested for allegedly abusing a nonverbal special needs student by striking the teen with a stick, police said.
Artificial intelligence can give some workers "brain fry" if overused, according to a new study published in Harvard Business Review.
The Valley Christian High School team, called Wildfire Quest, in San Jose, is a finalist in the $11 million global XPRIZE Foundation Wildfire competition, competing against the top AI and defense innovators.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
At the meeting, Waymo said there are about 70 dispatchers at a call center in the Philippines to assist cars in the company's global fleet that require human intervention. But on the night of Dec 20, they said the system was simply overwhelmed.
After the Trump administration cut it off, Anthropic CEO Dario Amodei told CBS News in an exclusive interview Friday night he wants to work with the military — but only if it addresses the firm's concerns.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
The city said there was no evidence of community-spread or of an outbreak, and that the health advisory was issued to give health care providers guidance.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
USALESS.COM is recalling its Rhino Choco VIP 10X product due to the undeclared presence of Tadalafil, which is the active ingredient in Cialis.
President Trump told CBS News the U.S. war with Iran is "very complete," and said the U.S. "could do a lot" about the Strait of Hormuz.
Rep. Kevin Kiley of California said Monday he was immediately leaving the Republican Party to become an independent.
Anthropic sued the Defense Department and other federal agencies on Monday over the government's move to designate it a risk to the supply chain.
Live Nation, the parent company of Ticketmaster, has reached a deal with the Department of Justice as part of a high-stakes antitrust trial.
The preliminary U.S. intelligence assessment suggests that the U.S. is "likely" responsible for the bombing of the girls' school in Iran on Feb. 28.
A man has been arrested and accused of a hate crime after a San Francisco church was vandalized over the weekend, police said.
A Yosemite park ranger was fired last year after helping to display a transgender pride flag from El Capitan.
After more than two years of renovations, the historic Castro Theatre is back open for business.
A large Pride flag has been removed from the Stonewall National Monument in Greenwich Village. The National Park Service said it did so under guidance from the federal government.
The billionaire and philanthropist MacKenzie Scott donated $45 million to The Trevor Project, a nonprofit focused on suicide prevention and advocacy for LGBTQ young people.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
The Chinese New Year Parade took place Saturday in San Francisco and was free to attend for the public.
Friday, March 6, marks 100 years since the historic location opened its doors, but they'll be celebrating a little early with free movies on Wednesday.
Along with the "True Lies" co-stars, the California Hall of Fame's new inductees will include Olympians Carl Lewis and Janet Evans and Mariachi Reyna de Los Ángeles.
The design process for the floats began in November, with a crew of nearly 30 people working to put the final product together.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
Meteorologist Jessica Burch says the warm temperatures will continue this week.
Teachers in the Dublin Unified School District were striking on Monday after late negotiations on Sunday failed. Amanda Hari reports.
with Darren Peck.
As the Bay Area struggles to add more affordable housing, the question arises: What does affordable mean?
Family identify San Pablo teacher one of 2 people killed in Oakland shooting
In 2025, KPIX is moving to a new community service award: the CBS News Bay Area Icon Award. Submit nominations for an outstanding community hero at kpix.com/icon.
It's the most wonderful time of the year for a South Bay woman who has played Mrs. Claus for more than 40 years for the children of North San Jose's Alviso District.
For residents of the Oakland Hills, the prospect of another wildfire always remains a concern. This week's Jefferson Awards winner has made it his mission to make the hills and other high-risk areas safer.
In East Palo Alto -- where state education numbers show more than nine in ten public school students are low income and more than half are English learners -- many are finding hope and connection at the Boys & Girls Clubs of the Peninsula.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.