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US Economy

Business
Family Dollar, Dollar Tree To Close 1,000 Stores Family Dollar, Dollar Tree To Close 1,000 Stores
Family Dollar, Dollar Tree To Close 1,000 Stores Discount chain Family Dollar and parent company Dollar Tree will close a combined 1,000 stores. Family Dollar will shut down 600 stores in 2024 and 370 stores over the next several years as store leases expire.  Dollar Tree will close 30 locations as leases expire.  The company made the announcement Wednesday morning, March 13. Family Dollar has around 8,000 US locations and Dollar Tree has  The company said it initiated a review of its stores in the fourth quarter of 2023.  It involved "identifying stores for closure, relocation, or re-bannering based on an evaluati…

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by Joe Lombardi
Business
COVID-19: Cargo Ships Piling Up At US Ports Amid Supply Shortages For Businesses COVID-19: Cargo Ships Piling Up At US Ports Amid Supply Shortages For Businesses
Covid-19: Cargo Ships Piling Up At US Ports Amid Supply Shortages For Businesses Scores of cargo ships have recently gotten stuck waiting to dock at United States ports as the country continues to face COVID-19 supply-chain-related product shortages.  The Daily Mail reported on Saturday, Sept. 25, dozens of ships were stuck at the three busiest ports in the US, including more than two dozen ships off the Long Island shore. The news outlet added that the Port of New York, New Jersey, and Los Angeles faced similar issues caused by an increase in imports. Related - COVID-19: Supply-Chain Issues Causing Shortages Of Items At Supermarkets, Other Retailers Stores …

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by Nicole Valinote
News
COVID-19: Letter From White House With Stimulus Payment Info Not A Scam, IRS Says COVID-19: Letter From White House With Stimulus Payment Info Not A Scam, IRS Says
Covid-19: Letter From White House With Stimulus Payment Info Not A Scam, IRS Says Americans who received a stimulus check during the COVID-19 pandemic can expect to see a letter coming in the mail from President Joe Biden. The IRS wants consumers to know that letters coming from the White House bearing Biden’s name and signature are not part of a scheme, and are filled with tax information on COVID-19 stimulus payments. Recently, the IRS has been issuing letters from the White House outlining how much money was issued for stimulus payments and providing a website to obtain more information. The letters are written on White House stationery with Biden’s signature on the …

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by Zak Failla
News
Trump Built a National Debt So Big - Before COVID-19 - It’ll Weigh Down The Economy For Years Trump Built a National Debt So Big - Before COVID-19 - It’ll Weigh Down The Economy For Years
Trump Built a National Debt So Big - Before Covid-19 - It’ll Weigh Down The Economy For Years The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president. One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt, Propublica reported. The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much …

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by Allan Sloan, ProPublica, and Cezary Podkul for ProPublica Jan. 14, 5 a.m. EST
Real Estate
COVID-19: New Report Reveals Just How Big Housing Boom Has Been During Pandemic COVID-19: New Report Reveals Just How Big Housing Boom Has Been During Pandemic
Covid-19: New Report Reveals Just How Big Housing Boom Has Been During Pandemic The housing boom ignited by the COVID-19 pandemic has been even bigger than previously thought, according to data released by the Federal Reserve Bank of New York in its report for the final quarter of 2020. Total household debt increased by $206 billion (1.4 percent) to $14.56 trillion for the last three months of 2020, driven in part by a steep increase in mortgage originations, the report stated. That total debt balance is $414 billion higher than at the end of 2019. But wait, there's more. Home prices increased 9.5 percent in November, the highest jump in six years, according to …

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by Joe Lombardi
News
COVID-19: Here's When To Expect Second Stimulus Check To Arrive COVID-19: Here's When To Expect Second Stimulus Check To Arrive
Covid-19: Here's When To Expect Second Stimulus Check To Arrive Relief is on the way for Americans financially strapped during the COVID-19 crisis. Congressional leaders unveiled on Sunday, Dec. 20 an approximately $900 billion stimulus deal that will provide Americans that qualify direct payments of $600 to help offset the hardships caused during the pandemic. The $600 is half of what was directed during the first round of stimulus checks earlier this year. Treasury Secretary Steve Mnuchin told CNBC on Monday that the checks could be in Americans’ bank accounts in a matter of just a few days for those who have direct deposit info on file with the IRS.…

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by Zak Failla
Business
Massachusetts' Unemployment Rate Takes Nosedive - A Good Sign For Economy Massachusetts' Unemployment Rate Takes Nosedive - A Good Sign For Economy
Massachusetts' Unemployment Rate Takes Nosedive - A Good Sign For Economy The Massachusetts unemployment rate took a nosedive from July to August - a sign that the economy is rebounding. And Massachusetts no longer has the highest unemployment rate in the country. The state’s overall unemployment rate fell by 5 percentage points between the two months, according to the U.S. Bureau of Labor Statistics. It’s a rare abrupt change in the monthly rates. In August, the unemployment rate was 11.3 percent In July, the rate was 16.2 percent unemployment. Massachusetts gained more than 50,000 jobs in August, the early numbers indicate. While Massachusetts’ economy ha…

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by Kristin Palpini