Economy

Construction Industry Lost 975,000K Jobs Last Month

April's unemployment rate hit a dismal 14.7 percent, and the construction industry was no different. It lost 975,000 jobs over the month, in an industry that was having trouble finding workers before COVID-19 hit. Though other industries faced a tougher… more

Home Builders Confident Despite Starts Drop

Though the number of homes being built are lat their lowest levels since 2015, home builders are confident about the future, according to a National Association of Home Builders report. Total housing starts dropped 30.2 percent in April to a… more

Restaurant Industry Wants More Time for PPP Loans

Leaders in the restaurant industry want more time to spend PPP loans, increasing that window from eight to 24 weeks. They met with President Donald Trump and said that they were concerned about various social distancing rules in states and… more

Transitions: Setting a Value—The Never-Ending Quest

What’s my business worth? That question can dog a business owner for decades, but it’s never more vital to have an answer than it is as you prepare to transition out of your life’s work. But even before there was… more

The Plane Truth: Everything’s Changing

Everything you know about airline travel, either for business or leisure? Well, you can forget it. By the time the world recovers from the COVID-19 pandemic, the entire world of travel and hospitality will have been transformed—in some cases, that’s… more

Mortgage Rates at a Record Low

The rate of a 30-year fixed mortgage just fell to 3.09 percent, due to a combination of factors happening in the economy, such as a steep decline in retail sales and other problems with the economy. Meanwhile, as of May… more

Retail Getting Clobbered

Retail sales beat another unfortunate record in April, with sales falling a record 16.4 percent from the previous month. The March decrease of 8.3 percent was already the biggest decline on record, according to data tracked by the U.S. Census… more

Theme Parks, Like Worlds of Fun, Face Changes

Theme parks, such as Kansas City's Worlds of Fun, will not be be running in business-as-usual mode when they start to re-open, due to social distancing requirements that will change the capacities of rides. For its part, Worlds of Fun… more

GSEs Change Standards for Mortgage Borrowers

Fannie Mae and Freddie Mac are offering new deferral options for mortgage payments. The deferral option starts on July 1, reports the American Bankers Association. Borrowers will reportedly have a variety of mortgage-payment options, says the American Bankers Association. Read… more

Slow Awakening From COVID-19 Lockdowns

April was a peak for China’s coronavirus lockdowns, not just in the US, but also worldwide. With lockdowns somewhat easing in May, a limited rebound is already underway. However. it will be at least another week or two before we… more