March 2021 Saw Most US Poverty Since The Pandemic Began
The new stimulus money allotted by the Biden administration couldn't have come too soon. Separately, the USDA moves to extend universal free lunch for youths with food insecurity, and reports say the weakened pandemic economy hit Black Texans much worse than white people in the state.
Bloomberg:
U.S. Poverty Rate Rose To Pandemic High Ahead Of New Stimulus
The U.S. poverty rate rose to 11.7% in March, the highest level yet during the pandemic following an increase in the latter part of last year as many government benefits expired, a study showed. The March 2021 estimates indicate that without additional aid many in the U.S. continued to suffer from the economic impacts from Covid-19, according to research released Tuesday by economists Jeehoon Han, from Zhejiang University, Bruce Meyer, from the University of Chicago, and James Sullivan of the University of Notre Dame. The projections didn’t capture benefits provided by the American Rescue Plan signed last month. (Tanzi, 4/20)
In related news about covid's economic toll —
The Washington Post:
USDA Extends Pandemic Universal Free Lunch Waivers Through School Year 2021-2022
The United States Department of Agriculture announced Tuesday it would extend universal free lunch through the 2021-2022 school year, in an effort to reach more of the estimated 12 million youths experiencing food insecurity. In March, the USDA said these waivers, which made school meals more flexible to administer, would be extended only to Sept. 30, leaving schools and families uncertain about what next school year might look like. (Reiley, 4/20)
Dallas Morning News:
14% Unemployment For Blacks In Texas? The Pandemic Economy Is Still Taking A Bigger Toll On People Of Color
The pandemic exacerbated weaknesses and vulnerabilities in the economy, often harming minorities the most, and the recovery is taking on a similar “K shape” — with some groups improving while others stall or decline. The unemployment rate for white workers in Texas was 4.8% last month, continuing a steady improvement since late last year. But the jobless rate was 14% for Blacks and 9% for Hispanics, according to data cited by researchers at the Federal Reserve Bank of Dallas — and the minorities’ numbers have risen in recent months. (Schnurman, 4/20)
Los Angeles Times:
Garcetti's L.A. Guaranteed Basic Income Plan: What To Know
Los Angeles is poised to become the latest city to try universal basic income. Mayor Eric Garcetti included a $24-million Basic Income Guaranteed program in his city budget to be released Tuesday. L.A. would become the biggest city to try the concept, possibly joining Stockton, Compton and others. (Smith, 4/20)
NBC News:
Shipping Boxes, Delivering Shots, Manning The Sales Floor: Vaccine Jobs Boom Doesn't Match All Skill Sets
The vaccine jobs boom is all about shipping boxes, delivering shots, opening doors and manning floors. Disrupted workers say that doesn’t match their skillset, and they’re hanging back or taking jobs with less pay. Truckers, nurses, sales associates and managers are some of the jobs in highest demand as America tries to reopen, according to an aggregate of all online job postings collected by jobs site ZipRecruiter. Truck driving is by far the most sought role, with over 1.3 million jobs open for different kinds of drivers, from semis to local delivery. (Popken, 4/19)
Bloomberg:
HSBC Manager’s Heart Attack Prompts Viral Post About Overwork
When Jonny Frostick realized he was having a heart attack this month, the first thing that occurred to the HSBC Holdings Plc contractor was: “I needed to meet with my manager tomorrow, this isn’t convenient.” Then he thought about funding for a project, his will, and finally, his wife. Frostick, who manages more than 20 employees working on regulatory data projects, chronicled his near-death experience in a viral LinkedIn post that had been viewed almost 7 million times as of Tuesday. The 45-year-old Briton is the latest financial employee to weigh in on the work-till-you-drop culture during a pandemic that’s obliterated the lines between office and home life for droves of workers. (Nguyen and Wilson, 4/21)
