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Jobless claims at 870,000 as fraud and backlogs cloud data

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WASHINGTON (AP) — The number of people seeking U.S. unemployment aid rose slightly last week to 870,000, a historically high figure that shows that the viral pandemic is still squeezing restaurants, airlines, hotels and many other businesses six months after it first erupted.
The figure coincides with evidence that some ne ... (full story)


Doing the Dow shuffle

Q. I saw that ExxonMobil was removed from the Dow Jones Industrial Average. What happened? -- G.V., Tulsa, Oklahoma
A. Many don't realize this, but the Dow Jones Industrial Average ("the Dow") is an index of only 30 companies. Every few years, to better reflect our diversified economy, some components of the Dow are ej ... (full story)


Soaring wealth during pandemic highlights rising inequality

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WASHINGTON (AP) — Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes.
The Federal Reserve sai ... (full story)


Fear of bankruptcy holds too many people back

The mystery isn't why so many people file for bankruptcy each year. It's why more people don't.
Each year, only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Economists say some don't file because collectors aren't aggressively pursuing them, while others may strategically delay ... (full story)


Trick-or-What? Pandemic Halloween is a mixed bag all around

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NEW YORK (AP) — Roving grown-ups tossing candy at kids waiting on lawns. Drive-thru Halloween haunts. Yard parties instead of block parties and parades. Wider paths through corn mazes.
The family holiday so many look forward to each year is going to look different in the pandemic as parents and the people who provide Hallo ... (full story)