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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
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
Lifestyle
COVID-19: Here's How Many Are Concerned About Possible Second Wave, New Poll Shows COVID-19: Here's How Many Are Concerned About Possible Second Wave, New Poll Shows
Covid-19: Here's How Many Are Concerned About Possible Second Wave, New Poll Shows With states across the country in the opening phases of kickstarting their economies, a majority of Americans have expressed concerns about a possible second wave of novel coronavirus (COVID-19). A newly released Marist College poll found that 77 percent of Americans have expressed some degree of concern that a second wave of COVID-19 cases could emerge, though the other 23 percent have “little or no concern” of another surge. Of those polled, Democrats (93 percent) and women (83 percent) were most likely to be concerned of a second COVID-19 wave, versus Republicans (57 percent) and men (70…

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by Zak Failla
Lifestyle
COVID-19: Poll Shows How Many Are 'Very Concerned' Economy Will Fall Into Depression COVID-19: Poll Shows How Many Are 'Very Concerned' Economy Will Fall Into Depression
Covid-19: Poll Shows How Many Are 'Very Concerned' Economy Will Fall Into Depression Some Americans are “very concerned” that local, state, and national economies could fall into an economic depression as the country begins to recover from the novel coronavirus (COVID-19) crisis. A Quinnipiac University poll of 1,323 voters conducted between Thursday, May 14, and Monday, May 18 found that about four in 10 voters (42 percent) say they are “very concerned the economy will fall into a depression. The poll also determined that 39 percent are “somewhat concerned,” 11 percent are “not so concerned,” and 8 percent are “not concerned at all.”  According to the Asian Developme…

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by Zak Failla
Lifestyle
COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says
Covid-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says Half the country has taken a financial hit due to the novel coronavirus (COVID-19) pandemic, and most don’t believe they’ll be heading back to work soon, according to a newly released Marist College poll. According to the poll, 50 percent of Americans said they or someone in their household has lost their jobs or hours due to the virus, up from 18 percent from a previous poll just a month ago. "There are few households in the country that haven't been affected by this crisis, through health, through school, through jobs, from all walks of life, from all backgrounds," Barbara Carvalho, direc…

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by Zak Failla
Business
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected Black Friday is here and this holiday shopping season is expected to be one for the books. The spending forecast is above $1 trillion for the first time, with e-commerce sales comprising an estimated $123.7 billion, according to eMarketer. There are a number of ‘macroeconomic indicators’ that hint at this spike in shopping season sales; a positive labor market, increased consumer confidence, and overall GDP growth and lower unemployment. If estimates are correct, the total increase in spending will be 5.8% higher than last year’s sales and spending numbers.

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by Valerie Musson