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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 daughter of a former Russian spy who was poisoned alongside her father in Britain last month has been discharged from the hospital, an official from the hospital said Tuesday.Yulia Skripal and her father Sergei Skripal were found slumped on a bench on March 4 in the English city of Salisbury after being exposed to a military-grade nerve agent, British authorities said.The UK government blamed Russia for the attack, but Moscow has denied any involvement.Yulia Skripal regained consciousness in late March and released a statement last week thanking those who treated her and father and those who had sent "messages of goodwill.""Yulia has asked for privacy from the media and I want to reiterate that request," Salisbury District Hospital medical director Christine Blanshard said Tuesday. "I also want to take this opportunity to wish Yulia well. This is not the end of her treatment, but marks a significant milestone."Blanshard added that Sergei Skripal's condition was still improving, albeit at a slower pace than Yulia."Her father has also made good progress," Blanshard said. "On Friday, I announced that he was no longer in a critical condition. Although he is recovering more slowly than Yulia, we hope that he too will be able to leave hospital in due course."London's Metropolitan Police refused to comment on whether Yulia Skripal was receiving police protection following her release from the hospital.In a tweet, the Russian embassy in the UK said: "We congratulate Yulia Skripal on her recovery. Yet we need urgent proof that what is being done to her is done on her own free will."  1618

The COVID-19 pandemic has been forcing millions of Americans to work and learn from home for several months at this point.But while working and learning from home may be routine, that hasn't made it any easier — meetings are still being sabotaged with rambunctious pets, unreliable WiFi signals and barely-clothed family members.Then, there's the dreaded mute button. Failing to click it (or mistakenly turning it off) has sunk many a meeting in the last five months.And apparently, U.S. senators aren't immune to mute-button woes.During the Senate Committee on Homeland Security and Governmental Affairs' questioning of Postmaster General Louis DeJoy on Friday, Chairman Ron Johnson (R-Wisconsin) recognized Sen. Tom Carper (D-Delware) for questioning. After a few moments, Carper didn't respond, and Johnson moved on to Sen. James Lankford (D-Michigan).Apparently, Carper was at his computer but muted. And when audio was restored to his microphone, it caught the senator frustratingly releasing a series of expletives.Johnson asked if Carper was able to unmute his laptop, adding "we don't want to be on TV again," with a laugh.Following the snafu, Carper was able to conduct his questioning.Later, Carper joked about the incident on Twitter."Those who know me know that there are few things that get me more fired up than protecting the Postal Service! #DontMessWithUSPS," he tweeted. 1396

The family of Stephon Clark, the 22-year-old black man shot and killed by Sacramento Police, will be exploring "every legal remedy possible" in search of justice, according to their attorney Benjamin Crump.Speaking to CNN on Sunday, Crump said Clark's death should not be "swept under the rug." Crump also called for accountability from both sides."There's great mistrust" between communities of color and police, Crump told CNN's Dan Simon. The attorney has also represented the families of Trayvon Martin, Michael Brown and Tamir Rice. 545

The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.The crest came as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.3%.Shortly after the Dow crested, President Donald Trump delivered remarks at the White House, congratulating his administration and the people of the U.S.“The stock market has just broken 30,000, never been broken, that number, that’s a sacred number, 30,000. Nobody thought they’d ever see it,” said Trump. “That’s the 9th time since the beginning of 2020 and it’s the 48th time that we’ve broken records during the Trump administration. And I just want to congratulate all the people within the administration that work so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you.”Like others, Trump attributed the success of the stock market to the promising news that multiple vaccines are proving to be effective and headed for FDA approval.“Despite everything that’s taken place with the pandemic, I’m very thrilled with what’s happened on the vaccine front,” said Trump. “That’s been absolutely incredible. Nothing like that has ever happened medically and I think people are acknowledging that and it’s having a big effect.”Trump, who often speaks for long periods of time and has sparred with the media in the past, kept Tuesday’s remarks short and didn’t take questions as reporters asked him why he hasn’t conceded to Biden for the good of the country.Watch the president’s remarks below: 1979