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Economy

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Extreme weather raises economic concerns

The rise of extreme weather conditions is posing harm to businesses who may not be financial prepared. In 2020, extreme weather cost the insurance industry over $70 billion, according to The Demex Group. Stephen Bennett, co-founder and chief product officer of The Demex Group and chairman of the American Meteorological Society's Committee on Financial Weather and Climate Risk, joins CBSN's Lana Zak with more on how businesses can prepare for these potential risks.

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The economic disparities Black Americans face

A new report details the economic disparities Black Americans face. The report by McKinsey and Company found 19% of Black families in the U.S. have a negative net worth and revealed a wage gap in the billions and a revenue gap for Black-owned businesses of more than a trillion dollars. Shelley Stewart III, a partner at McKinsey, where he leads the Institute for Black Economic Mobility, spoke with Anne-Marie Green and Vladimir Duthiers on CBSN about the main findings in the report, titled "The economic state of Black America."

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Dozens of Republican-led states to end benefits early

Nearly a quarter of U.S. workers who are collecting pandemic-related expanded unemployment benefits are set to lose it, some as soon as this weekend. Lawmakers in 25 Republican-led states say they are ending the program early because the added money is leading to a lack of job applicants for businesses that want to hire. CBSN's Tanya Rivero spoke with New York Times national economics correspondent Patricia Cohen about the politics behind the decision.

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New unemployment claims hit pandemic low

As CBS News' Omar Villafranca reports, the Labor Department says 376,000 Americans filed first-time unemployment claims last week — marking the lowest level since the pandemic began. But many businesses say they're having trouble filling open position. Joe Minarik, senior vice president and director of research for the Committee for Economic Development, joins CBSN's Lana Zak to discuss the new unemployment numbers and America's continuing economic recovery.

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Guatemala's president on human traffickers

In an interview with CBS News, Guatemalan President Alejandro Giammattei called on U.S. lawmakers to toughen up laws against human trafficking and said that he's ready to extradite smugglers, known as "coyotes," to the U.S. to face charges. CBS News senior White House and political correspondent Ed O'Keefe joins CBSN's Lana Zak with more on his interview and the upcoming diplomatic talks between Giammattei and Vice President Harris, who has been tasked with leading efforts to address the root causes of migration to the southern border.

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