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The COVID-19 pandemic has impacted businesses and industries around the country as unemployment rates are at historic highs and many are wondering how and when our economy will recover."One of the biggest impacts is going to be on workers' wages. They’re not going to recover for years. So we’re going to see zero wage increases probably for several years moving forward more than the Great Recession (of 2008 and 2009) because this hit was more than the Great Recession," says Jack Strauss, the Chair of Applied Economics at the University of Denver.Strauss predicts wages will likely stay stagnant in almost all industries. In some cases, some people will see their wages go down."This is the first time many are being cut. University of Arizona, University of Denver, where I’m from, and other universities, we have had wage cuts of 5-10%. Didn’t happen in 2008; we were frozen. But this is the first time 5-10%" says Strauss.In California, the Fresno Regional Workforce Development Board works to help businesses find qualified workers and the unemployed find their next job. Executive Director Blake Konczal says he doesn't expect people to start to really look for another job until unemployment benefits run dry. But once they do, there will be a mad dash for any available jobs."When you’re looking for work, when unemployment is that rampant, the question regrettably isn’t, ‘Why aren’t I getting a higher wage?’ People want a wage," says Konczal.The good news, though, is that economists don't expect the cost of living to increase much.“Because wages have been low, demand has been low, so the cost of living has only gone up gradually," says Strauss.But with high unemployment and few wage increases, people will likely be spending less."That negative effect will be moving forward in a lot of industries relying on discretionary items because you're still going to buy food, because that’s a necessity, but you’re not going to go on a vacation, you’re not going to buy a new car," says Strauss.Konczal is worried about how this economic downturn will affect small businesses…“And the people who worked for them,” Konczal said. “In nine out of 10 times those types of businesses are the strength of our economy, sets us apart. But in this particular quixotic COVID environment, they’re the ones who are really getting hammered."Even before the pandemic, experts say there was still a high demand for qualified employees. And just like the Great Recession, our new economic reality could have some people heading back to school in order to land a job or higher wage. 2585

The FBI raided Michael Cohen's office on Monday, the personal lawyer to President Donald Trump who allegedly oversaw a 0,000 payment to adult film actress Stormy Daniels in the days leading up to the 2016 election, the New York Times reported. According to the Times, Special Counsel Robert Mueller issued a referral for the raid, although the search does not appear to be directly related to his ongoing investigation of Russian meddling and possible coordination with the Trump campaign during the 2016 election. The Times report does indicate, however, that the raid stemmed from information Mueller uncovered and gave to prosecutors.In order to secure a raid, Mueller went to US Attorney Geoffrey Berman, who was appointed in January. Berman took the information to a federal judge, who green lighted the raid. Berman replaced acting US Attorney Joon Kim, who replaced Preet Bharara. Bharara was fired by Trump after he refused to resign when Trump demanded that all US Attorneys who worked under President Barack Obama to step down. Despite Berman being a Trump appointee, the President said the investigation is a "witch hunt.""I have this witch hunt constantly going on, it is a real disgrace," Trump said. "It is an attack on what we all stand for," It is at an all new level of unfairness."Attorney General Jeff Sessions vowed to stay out of the Mueller investigation shortly after being confirmed as AG. He assigned his Deputy Attorney General Rod Rosenstein to oversee Mueller's investigation. Trump admitted on Monday that had he known that Sessions would recuse himself, that he would have looked for a different attorney general."The attorney general made a terrible mistake when he did this and when recused himself or he certainly should have let us know if he was going to recuse himself and we would have put a different attorney general in," Trump said. "So he made what I consider to be a very terrible mistake for the country. But you'll figure that out."Trump was asked whether he should fire Mueller. "I think it's a disgrace what's going on. We'll see what happens..Many people have said you should fire him," Trump said. "Again, they found nothing and in finding nothing that's a big statement because you know the person who is in charge of the investigation."Cohen was reportedly responsible for paying Daniels 0,000 to keep quiet about a previous sexual encounter with Trump. Daniels has since gone public about the alleged sexual encounter, recently appearing on "60 Minutes" in an interview with Anderson Cooper. The possible payment, which Trump has claimed he has no knowledge of, has also brought questions on its legality, and whether the payment by Cohen constituted as an undisclosed campaign contribution. Cohen's lawyer on Monday told the New York Times the raid was “completely inappropriate and unnecessary.” 2927

The end of the Korean War will be announced later this year, following an historic summit between the leaders of the two Koreas.South Korean President Moon Jae-in and his North Korean counterpart, Kim Jong Un, signed the "Panmunjom Declaration for Peace, Prosperity and Unification on the Korean Peninsula," while standing in the demilitarized zone (DMZ) that has divided the two countries for more than six decades.The announcement, made after a full day of meetings and a 30-minute private conversation between the two leaders, could bring an end to one of the world's longest running conflicts. 605

The family flick "Show Dogs" is getting an immediate re-cut after parents who took their children to see the movie criticized scenes they say depict sexual abuse.The edits address scenes in which the lead undercover police dog Max, voiced by Ludacris, who while being inspected at a dog show becomes comfortable with his private parts being touched, according to Deadline.In a statement, Global Road Entertainment said the revised version of the film will be in theaters this weekend:  508

The cold open of "Saturday Night Live" usually belongs to politics, but on Saturday night it belonged to moms.The mothers of cast members from the NBC variety show took over the beginning of Saturday's episode with many taking jabs at the show's political jokes.Kenan Thompson asked his mother if she liked the show and she responded, "I do, except for all the political stuff. We get it!"Mikey Day introduced his mother and reminded her of the time he was in a production of "The Crucible" in high school."You know, 'The Crucible' is a lot like that witch hunt against President Trump," Day's mother said before Day quickly ushered her off.The mother of the newcomer Luke Null asked, "Why doesn't 'SNL' talk about 'Crooked Hillary'?""Mom, I'm so new here," he said. "Please don't do this to me."As for Chris Redd's mother, she wondered why everyone is focused on Trump rather than "focusing on Jesus.""Okay, well, Jesus isn't president," Redd said."And that's the problem," his mother said back.And "Weekend Update" host Colin Jost asked his mom if she likes the political stuff on the show."I think Alec Baldwin does a great Trump impression," she said. "But why does it have to be so mean? Who writes that stuff?"Jost, who is also one of the show's head writers, hesitated and responded saying he didn't know blaming his "Weekend Update" co-host, Michael Che, who is also a head writer, for the jokes. 1412

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