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.
Earlier this week, T'Chaka had its door smashed, leaving pieces of glass scattered on the dining room floor. But it didn't take long for the community to respond and help a local business.
One week after a fire destroyed Medline Industries' 1-million-square-foot medical supplies warehouse in Tracy, an employee is speaking out about what they describe as confusion, fear, and a lack of evacuation plans.
A woman and young child were hospitalized following a rescue off Baker Beach in San Francisco on Thursday after they were swept into the ocean.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
Earlier this week, T'Chaka had its door smashed, leaving pieces of glass scattered on the dining room floor. But it didn't take long for the community to respond and help a local business.
One week after a fire destroyed Medline Industries' 1-million-square-foot medical supplies warehouse in Tracy, an employee is speaking out about what they describe as confusion, fear, and a lack of evacuation plans.
A woman and young child were hospitalized following a rescue off Baker Beach in San Francisco on Thursday after they were swept into the ocean.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
A woman and young child were hospitalized following a rescue off Baker Beach in San Francisco on Thursday after they were swept into the ocean.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
The San Francisco Police Department said an audit of its network of automated license plate reader cameras shows it was improperly accessed by outside agencies.
The final chapter in the story of Dirt Alley was written Wednesday night as they unveiled the tiles of artwork on the pavement.
A Bay Area cancer patient is making more memories and living longer than his initial diagnosis thanks to a groundbreaking treatment for his particularly aggressive form of brain cancer.
Earlier this week, T'Chaka had its door smashed, leaving pieces of glass scattered on the dining room floor. But it didn't take long for the community to respond and help a local business.
A man arrested after a fire at a Berkeley animal shelter was charged with felony arson on Wednesday along with other charges, prosecutors said.
A Contra Costa County Sheriff's deputy has been arrested on multiple felony charges, the Sheriff's Office announced on Wednesday.
An interim police chief was appointed in San Leandro amid the investigation into Chief Angela Averiett, who has been charged in a 2025 hit-and-run collision.
Two weeks ago, Oakland Mayor Barbara Lee made a rare appearance before the City Council to promote a ballot initiative that would give her a lot more power over the operation of the city.
A Peninsula pastor is one of the first in the Bay Area to help provide a safe place for them while they search for housing in expensive Silicon Valley.
A woman died Monday after being stabbed in San Jose home and a man who knew her was arrested in connection with the killing, police said.
Richard Tillman, brother of the late National Football League star and U.S. Army Ranger Pat Tillman, was sentenced on Monday to five years in federal prison for setting a San Jose post office on fire in 2025.
Health officials in the San Francisco Bay Area issued a warning about a potential measles exposure after an infected resident traveled through San Francisco International Airport and local businesses.
San Jose police said a driver ran a red light and crashed into an uninvolved vehicle after refusing to pull over for Santa Clara officers. The driver who ran the red light was seriously injured, and his passenger was killed in the crash, police said.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A vehicie struck and killed an elderly pedestrian in Fairfax earlier this week, authorities said.
Around 12:30 p.m., an officer patrolling near the Novato Fair shopping center spotted a man he believed was acting erratically and may be under the influence of drugs, police said.
A deer fawn was rescued on Wednesday from an outdoor wire dog crate at a Sonoma County home, authorities said.
A mountain biker who was injured in a remote Sonoma County trail Wednesday morning was airlifted to safety following a multi-agency rescue, authorities said.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
The Wings were 11 for 17 in the opening quarter and built a quick 26-17 lead before a cold second quarter.
Lionel Messi tied the Men's World Cup goals record with his first World Cup hat trick as Argentina topped Algeria.
For the first time since joining international competition, the Hashemite Kingdom of Jordan has qualified for the FIFA World Cup, marking a milestone achievement for the nation's soccer program and sparking celebrations among Jordanians around the world.
The family of former NFL star Aldon Smith is donating his brain to the Boston University CTE Center to research the long-term effects of repetitive brain injuries following his sudden death at age 36.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
The San Francisco Police Department said an audit of its network of automated license plate reader cameras shows it was improperly accessed by outside agencies.
A man arrested after a fire at a Berkeley animal shelter was charged with felony arson on Wednesday along with other charges, prosecutors said.
A Contra Costa County Sheriff's deputy has been arrested on multiple felony charges, the Sheriff's Office announced on Wednesday.
The recall follows multiple incidents in which Waymo robotaxis drove past ramp-closure signs and into freeway construction zones.
U.K. Prime Minister Keir Starmer hopes to have a ban on kids using social media that is "designed to be addictive" enacted by early next year.
A woman has been found guilty of trespassing and other charges for her role in a protest outside the San Francisco headquarters of OpenAI last year, prosecutors said.
The iPhone was introduced in 2007, the same year the U.S. birth rate started to slide. The issues could be linked, a new analysis finds.
Meta pledged to invest $115 million to train electricians, plumbers and other workers needed to operate data centers.
A Bay Area cancer patient is making more memories and living longer than his initial diagnosis thanks to a groundbreaking treatment for his particularly aggressive form of brain cancer.
Health officials in the San Francisco Bay Area issued a warning about a potential measles exposure after an infected resident traveled through San Francisco International Airport and local businesses.
Health officials in Berkeley said one person died and another person was hospitalized after contracting leptospirosis from rats that had infested their RV.
Grocery sales at two Target stores in San Jose were halted over the past week, after health inspectors found evidence of rodent infestations.
WHO chief Tedros Adhanom Ghebreyesus says risks from the Ebola outbreak in Congo and Uganda are "high at the national and regional levels, and low at the global level."
Republican Senators Bill Cassidy, Thom Tillis, Ted Cruz and Tom Cotton have been critical of the 14-point memorandum of understanding signed on Wednesday.
The Trump administration expects to try to revoke the U.S. citizenship of more than 250 foreign-born citizens by October, a Justice Department official said.
A proposed tax on billionaires' assets is now eligible for the November 2026 ballot in California, the Secretary of State's office announced Wednesday.
The Supreme Court on Thursday ruled in favor of a Texas man who challenged a federal law that bars certain drug users from having firearms.
The supervisor introduced the "Affordable Groceries Act," which includes two measures he hopes will get on the November ballot. One of the measures would tax large-chain grocery stores that have closed, yet are holding onto the property.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
Many LGBTQ+ Pride events across the country have had to scale back or even cancel due to political and financial reasons. San Francisco was on the brink. Kara St. Cyr reports.
In one of the most competitive real estate markets in America, a San Francisco real estate agent dons fabulous drag to help promote homes for sale. Itay Hod reports.
The U.S. Department of Justice has launched an investigation into four California school districts over policies pertaining to the instruction of gender and sexual orientation.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Lionel Messi tied the Men's World Cup goals record with his first World Cup hat trick as Argentina topped Algeria.
Luke Skywalker's lightsaber from the "Star Wars" sequel "The Empire Strikes Back" is expected to sell for at least $1 million at an upcoming auction.
Rio de Janeiro's Military Fire Department said one of the helicopters crashed in the parking lot of a car dealership, where several electric vehicles were parked, igniting a fire.
With matches being played in 11 cities across the U.S., Mexico and Canada, fans are getting three World Cup opening ceremonies.
A gaming store in San Francisco keeps getting broken into, leading to loss after loss and a mountain of anxiety for the woman behind the business.
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.
Earlier this week, T'Chaka had its door smashed, leaving pieces of glass scattered on the dining room floor. But it didn't take long for the community to respond and help a local business.
Sara Donchey reports.
A space technology startup is preparing for a hefty clean energy project, launching giant mirrors into space to reflect sunlight onto Earth for use at night.
Bay Area lawmakers are raising concerns about delays in the DACA renewal process that they say are costing some immigrants their jobs.
Security measures were evident for the launch of Oaktown Thursdays events in the city's downtown after similar events in Oakland have seen disturbances break out after the party comes to an end. Maddie White reports.
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.