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The reset to lift us out of the COVID recession has to be bold: returning to where we were is nowhere near good enough
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The reset to lift us out of the COVID recession has to be bold: returning to where we were is nowhere near good enough
menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Published on January 15th, 2021
As expected, applications for initial unemployment benefits rose in the week ending Jan. 9, to 1.25 million, the Department of Labor reported Thursday. The numbers had fallen below a million the previous week for the first time in the 42 weeks since the response to the coronavirus pandemic crippled large parts of the economy and sent millions into the jobless ranks. Last week’s count was 965,000 for regular state benefits and 284,000 for the federal Pandemic Unemployment Assistance (PUA) program, a total of 304,000 over the previous week.
jobless men waiting on the unemployment line – FDR memorial – photo CC by Joel Kramer on Flickr
And perhaps decades, if federal and state elected officials don’t pass significant financial relief for renters.
“I’m living on a song and a prayer,” says Maria Sulprizio, a tenant in Los Angeles who’s racked up thousands in back rent. “How can I pay that back?”
Going into 2020, California’s 17 million renters had been increasingly slammed by the state’s ongoing housing affordability crisis. In 2019, according to Zillow, Los Angeles renters paid a staggering $39.1 billion to landlords. In San Francisco, renters handed over $16.4 billion, and San Diego renters shelled out $10.3 billion. Nearly 54 percent of California tenants are rent burdened.
How 2020 turned out to be a blurred vision
The leading Australians who attended a 2020 future forum a quarter of a century ago would probably be underwhelmed at the outcomes. But they did pick the smartphone.
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A quarter of a century ago, I co-convened a series of forums inviting prominent Australians to share their visions for Australia for 2020. Not one of them predicted a global viral pandemic. As clairvoyants they were hopeless, but as 2020 visionaries they were superb. As the horror year draws to a close, it’s worth reviewing their aspirations for Australia and the extent they have been realised.
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