$300 Pet Adoption Stipend

08/18/2020

1M

The number of Americans applying for unemployment benefits dropped below 1 million in August for the first time since the start of coronavirus pandemic — a sign that the labor market is continuing its recovery from the pandemic, the Labor Department said. In the week ending August 8, initial claims for state benefits totaled 963,000, a decrease of 228,000 from the previous week — totaled above 1 million for 20 consecutive weeks. Meanwhile, unemployment claims under the federal pandemic program dropped to 488,622 — down 167,377 from the prior week, according to the report. The decline indicates that layoffs are easing and more businesses are hiring now, said Julia Pollak, an economist at job site ZipRecruiter. Moreover, the additional jobless benefit of $600 a week that expired at the end of July, perhaps motivating more unemployed Americans to return to the workforce.

100,000

“A big hiring pledge from the largest U.S companies”. CEOs from 27 major businesses, including J.P. Morgan Chase, IBM, Google, and Amazon have committed to hiring more than 100,000 workers from New York’s low-income and minority communities by 2030, to address racial and economic inequities exacerbated by COVID-19, according to the news release by WSJ. The companies are launching an initiative called New York Jobs CEO Council, which will be led by Dr. Gail Mellow, head of CUNY’s LaGuardia Community College. The pledge, made by the chief executive officers includes entry-level job opportunities and apprenticeships for 25,000 CUNY students, according to a statement. “Our mission is to prepare the city’s workforce the skills of the future, and helping New Yorkers who have been left behind get a foot in the door”, says Jamie Dimon, CEO of JPMorgan Chase.

25

Work from Home has become the new normal. The COVID-19 pandemic has forced many companies to plan work from home permanently, even after the pandemic. According to Reuters analysis, U.S companies are downsizing their office spaces as they allow more employees to work from home to cut costs. More than 25 big U.S companies plan to cut back on office space in 2021, which reduces the second-largest expense at corporations. Green Street Advisors anticipate that even once the pandemic is contained, the move to remote work will likely mean office demand will be reduced by up to 15%. Despite, downsizing office space follows by layoffs and investments in technology that should help improve productivity with a reduced workforce, said Bill McMahon, a chief investment officer of active equity strategies at CSIM.

100

As New York City schools prepare to reopen during the COVID-19 pandemic, every single New York City public school building will have a “certified nurse” this fall, Mayor Bill de Blasio said in his daily news conference. The city will hire 100 nurses in the coming weeks to cover 2,000 early childhood programs, as well as child care centers in order to ensure that public schools have a health professional on site when it reopens. The move to hire full-time nurses comes as the teachers and principals unions have expressed doubts about the city’s plan for reopening schools in the midst of the new coronavirus pandemic. NYC’s Public Health and Hospitals System will take on the recruiting process, said de Blasio.

1.2%

The U.S. Census Bureau reported that retail purchases rose by a seasonally adjusted 1.2% in July 2020– marked the third straight month of growth, reflecting a rare bright spot in the battered economy. However, July’s sales were significantly lower than increases of 18.3% in May and 8.4% in June, the department said. The report shows that sales were increases at electronics & appliance stores (22.9%), health & personal care stores (3.6%), gasoline stations (6.2%), and sales at restaurants and bars grew 5%. At the same time, declines were seen in trade at motor vehicle & parts dealers reported a 1.2%, building materials stores (2.9%) while sporting goods and book stores saw a 5% decline, according to the report.

0.6 %

In July, the U.S. consumer price jumped 0.6% — marked the second consecutive monthly increase following a 0.6% same increase in June, the U.S Bureau of Labor Statistics reported. The increase was led by a sharp increase in gasoline prices jumped 5.6% — accounted for about one quarter of the monthly increase. The cost of apparel, medical care, and used vehicles also climbed sharply in July, while the index for recreation declined. The index for all items less food and energy rose 0.6% in July — the largest increase since January 1991. Meanwhile, prices for food fell 0.4% — the first decrease since April 2019. Grocery costs also dropped 1.1% as five of the six major grocery store food group indexes fell in July, the report shows.

3%

Industrial production in the United States rose 3% in July — the third straight monthly gain after sharp declines in March and April. But it had still remained 8.4% below its pre-pandemic February level, the Federal Reserve announced in a report. Manufacturing output improved in July, rising 3.4% — the largest gain was registered by motor vehicles and parts increased by 28.3%. Mining production, which includes oil and gas extraction, increased 0.8% — the first gain after five straight months of decline. Capacity utilization rose to 70.6%, which is 6.4 percentage points above its April low. The output of utilities increased 3.3 percent as hot weather increased air-conditioning demand, according to data from the Federal Reserve.

11%

A new survey found that U.S people are suffering from depression, anxiety, and suicidal thoughts amid the COVID-19 pandemic. Nearly 11% of young adults say they’ve considered suicide in the past 30 days, according to the survey conducted by the CDC. They surveyed more than 5,410 U.S adults about their mental health between June 24 and 30. More than 30 percent of participants said they had symptoms of anxiety or depression and about 26% reported trauma and stress-related disorder. Another 13.3% respondents said they had started or increased substance use — including alcohol or illicit drugs to cope with stress related to the coronavirus outbreak. People who are experiencing acute distress can seek help through the National Suicide Prevention Lifeline or Disaster Distress Helpline for crisis support, the report stated.

$300

Zebra, a Texas based insurance company offering employees’ $300 pet adoption stipend to “welcome a new cat or dog into their family”. According to the release from the company, it is also providing an additional bonus to their employees by implementing a “pawternity leave” policy with paid time off to get acquainted with a new rescue pet. Keith Melnick, CEO of Zebra said this policy is to help employees who are working remotely due to the pandemic to feel less lonely. Moreover, this kind of companionship can make a huge difference in the quality of life and mental health, he added. At present, the company currently has 250 employees, The Wall Street Journal reported.