Economist: Full reopening won't happen until Americans feel safe
Allianz's chief economic adviser Mohamed El-Erian says the latest jobs report shows a "long road ahead" to full economic recovery amid the COVID-19 pandemic.
Economy
COVID caseloads double as U.S. economy suffers
CBS News' Mark Strassmann reports from Atlanta on the ongoing impacts of the coronavirus pandemic.
Transcript: Mohamed El-Erian on "Face the Nation"
The following is a transcript of an interview with Mohamed El-Erian, Allianz Chief Economic Advisor, that aired Sunday, September 6, 2020, on "Face the Nation."
Trump denies calling fallen troops “losers”
President Trump is fiercely denying a report alleging he disparaged veterans for their military service, calling those who died in combat “losers” and “suckers.” The comments appear to overshadow the Labor Department’s August jobs report which saw 1.4 million jobs added last month. Bofta Yimam reports from the White House.
Two different pandemic economies
Permanent job losses rose and hiring slowed in August, according to the latest Bureau of Labor Statistics report, but the unemployment rate is back in single digits for the first time since March. CBS News correspondent Mark Strassmann reports on the divide between Wall Street and Main Street, and Mark Hamrick, Washington bureau chief and senior economic analyst for Bankrate, joined CBSN to discuss what to take away from the latest numbers.
Asian Americans falling behind White workers in job market
Working in industries hit hard by the coronavirus — along with racism — are to blame, experts say.
U.S. economy added 1.4M jobs in August
The U.S. added 1.4 million jobs in August, according to the Labor Department. The unemployment rate also fell to 8.4%, dipping into single digits for the first time since March. Optimal Capital's Frances Stacy joined CBSN to break down the numbers.
881,000 new jobless claims last week
New jobless claims fell to 881,000 last week, perhaps signaling the U.S. economy is heading in the right direction. Yahoo Finance's Rick Newman joins CBSN for a closer look at what this means for the overall economy.
EMS workers in NYC brace for mass layoffs amid pandemic
The economic fallout from the coronavirus pandemic could cost hundreds of New York City EMS workers and paramedics their jobs, but they say it could cost lives if there's another COVID-19 flare-up. Nikki Battiste has details.
States and colleges attempt to reopen
California is attempting a new reopening plan after an early end to lockdown led to a surge in coronavirus cases. Across the country, various colleges are also trying to restart in-person learning after outbreaks on several campuses. Danya Bacchus reports.
MGM to cut 18,000 workers who were previously furloughed
CEO Bill Hornbuckle said the casino operator continues to feel the impact of the coronavirus pandemic.
Former Obama economist says Congress needs to "throw money" at childcare
Betsey Stevenson, former chief economist for the U.S. Department of Labor, warns coronavirus' impact on childcare could last decades
RNC Night 4 preview
CBSN political reporter Caitlin Huey-Burn and CBS News 2020 campaign reporter Nicole Sganga join CBSN's "Red & Blue" with more on what we can expect from President Trump's acceptance speech.
Senator Mike Braun on Trump's RNC message
The U.S. is facing a number of ongoing crises as President Trump prepares to officially accept his nomination for a second term at the Republican National Convention. Senator Mike Braun, a Republican from Indiana, joined CBSN's "Red and Blue" to discuss the president's "law and order" message, the coronavirus response, and more.
U.S. economy plunged an annualized 31.7% in second quarter
The government slightly downgraded its earlier estimate, but the economic damage remains historic.
U.S. consumer confidence falls in August
Consumer confidence in the U.S. fell in August to the lowest it's been in six years amid the coronavirus pandemic. Axios market editor Dion Rabouin joined "Red and Blue" to discuss the impact this could have on the nation's economic growth in the near future.
Nearly half of Americans are using downturn to shore up finances
Nearly half of Americans say they've either saved more money or paid down debt since the pandemic started.
More Americans are going hungry
According to census data, almost 20% of Americans with kids at home could not afford to give their children enough food. Professor Mariana Chilton teaches health management and policy at Drexel University and joins CBSN to discuss how the pandemic has impacted hunger in America. She also comments on Senator Martha McSally's asking supporters to fast for a meal so they could donate to her reelection campaign.
Businesses held sway over state reopening plans, emails show
Governors across the U.S. were inundated with reopening advice from businesses including campgrounds and car washes.
Pandemic, racial injustice take toll on Black communities' mental health
The coronavirus pandemic, the worst economic downturn since the Great Depression, and the George Floyd killing in Minneapolis that sparked weeks of protests for racial justice, have all taken a mental toll. Jericka Duncan reports.
Battleground Tracker: Republicans see U.S. as better off now than 4 years ago
And after the Democratic convention, Biden has solidified Democratic support, according to the latest CBS News poll.
Without government help, the economy is slumping again
Bank of America says the economy needs an additional $1.4 trillion to keep the recovery going.
Apple and Tesla announce stock splits
Apple and Tesla are both splitting their stocks to make them more affordable for small investors who can't afford to buy individual shares at their current prices. Akiko Fujita, an anchor and reporter for Yahoo Finance, joins CBSN to discuss what that could mean for the companies and investors.
Pennsylvania graduates continue to face uncertainty amid pandemic
Recent college graduates like Sarah Sporko are still feeling the effects.
Women, minorities pushed into early retirement
CBS MoneyWatch spoke to The New School's retirement expert, labor economist Teresa Ghilarducci, about why women and workers of color are more likely to be forced into early retirements during the coronavirus pandemic.
Investigation
Congress tried to stop surprise medical bills. It created another problem.
Tropical Storm Isaias forms in Gulf, could reach U.S. as hurricane this weekend
How Israeli and Palestinian kids are coping 3 years after Oct. 7 attacks
Investigation
Weeks before Election Day, the FEC can't enforce the law
Live
Vance appears to soften U.S. demands on Iranian nuclear enrichment
Christa Pike is conscious, speaking after botched execution, attorneys say
Man eyed Mall of America for attack, pledged allegiance to ISIS, FBI says
Lawyers seek to stop execution today in Texas, citing Christa Pike's failed injection
