unemployment

Four states in the Mountain West are opting out of the federal government's $300-a-week pandemic unemployment compensation.

The Republican governors of Idaho, Utah and Wyoming announced their decisions this week. They follow Montana, which last week became the first state in the nation to drop the unemployment supplement that the American Rescue Plan extended into September.

The governors cite labor shortages and point to their state's low unemployment rates. The added payments will end in the second half of June.

The sugar beet harvest is underway across the Mountain West.

It’s a big industry that depends on accurate weather forecasts and a reliable workforce – both impacted by COVID-19. 

Amid the economic downturn, Idaho and Utah have some of the lowest unemployment rates in the country.

Many states introduced moratoriums to protect residents from having their utilities shut off for non-payment during the early days of the pandemic. But those moratoriums are coming to an end.

President Donald Trump says an executive order he signed on Saturday funds a $400 weekly supplement to unemployment benefits. But it likely won't be as helpful as it seems.

Updated at 8:47 a.m. ET

The coronavirus pandemic has pushed unemployment to its highest level since the Great Depression, but the pace of layoffs has been easing. And there are now some signs that the job market could slowly start to recover.

The Labor Department says another 1.87 million people filed claims for unemployment insurance last week. That's down 249,000 from the previous week. While still very high by historical standards, the number has been declining steadily from a peak of 6.8 million the week ending March 28.

Updated at 9:38 a.m. ET

More than 1 in 4 U.S. workers have lost their jobs since the coronavirus crisis shut down much of the economy in March.

Just last week, another 2.1 million people filed for unemployment benefits, the Labor Department said Thursday. That's down 323,000 from the previous week but brings the total for the past 10 weeks to 40.8 million, which represents 26% of the civilian labor force in April.

The United States is still losing jobs at an alarming pace two months after the coronavirus pandemic took hold.

Another 2.4 million people filed claims for unemployment last week, the Labor Department reported Thursday. That's down 249,000 — or 9% — from the previous week, but still painfully high by historical standards.

In the past nine weeks, jobless claims have totaled 38.6 million. That's roughly one out of every four people who were working in February, before the pandemic hit.

Updated at 3:49 p.m. ET

The coronavirus pandemic has taken a hit in the paychecks of close to half of U.S. households, the Census Bureau says.

Since March 13, 47% of adults say they — or another adult in their home — have lost employment income, while 39% say they're expecting their households to earn less from work over the next four weeks.

With the first of the month coming in less than two weeks, more than a fifth of adults report they have just slight or no confidence in their ability to make their next rent or mortgage payment on time.

Members of the Senate Banking Committee squabbled Tuesday over how quickly the U.S. economy can rebound from the coronavirus shutdown and whether the federal government is doing enough to support struggling families and businesses in the meantime.

Federal Reserve Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the coronavirus pandemic. But he says this will not be another Great Depression.

"It's going to be a very sharp downturn," Powell said in an interview with 60 Minutes that aired Sunday. "It should be a much shorter downturn than you would associate with the 1930s."

As the coronavirus pandemic hammers oil prices, the number of "orphaned" or abandoned oil wells could grow. A group wants to enlist newly unemployed oilfield workers in addressing the problem.

Updated at 5:19 p.m. ET

Nearly 3 million people filed for unemployment benefits last week — bringing the total to 36.5 million in the past eight weeks, the Labor Department said Thursday.

The number of people filing claims has been steadily dropping for weeks, since hitting nearly 7 million during one week in March. Still, claims remain at historically high levels, suggesting that the coronavirus isn't done pummeling the U.S. economy.

Additional government spending may be necessary to avoid long-lasting fallout from the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Wednesday.

Powell said the economy should recover once the virus is under control. But he cautioned that without more help, many small businesses may not survive that long. And he warned that a wave of business and household bankruptcies could do lasting damage to the nation's economic output.

At the end of April, the national unemployment rate hit 14.7% – the highest rate since the Great Depression. On CBS' "Face the Nation" Sunday, White House economic adviser Kevin Hassett predicted the rate will exceed 20% when the Department of Labor issues May's numbers.

Updated at 4:11 p.m. ET

House Democrats are moving full steam ahead with legislation to provide a new wave of coronavirus relief at a price tag of more than $3 trillion, with plans to call the full House back on Friday to approve it.

If you're still waiting for your pandemic payment from the federal government, and you would like to receive it directly into your bank account, head over to the IRS website by noon on Wednesday.

If the IRS doesn't have your direct deposit information by that deadline, you'll still get your payment — but you'll receive it in the form of a paper check, which might not arrive until June.