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U.S. employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month yet remained far short of regaining the colossal losses it suffered this spring. The nation has now recovered roughly one-third of the 22 million jobs it lost to the pandemic recession.The monthly job report coincided with the Department of Labor's weekly report on unemployment claims, which indicated that 1.4 million Americans filed initial claims for unemployment during the week ending June 27. That brings a 15-week total to about 47.9 million claims.Thursday's figures were down about 60,000 from last week's unemployment filings. It marked the fourth straight week where unemployment claims have hovered at about 1.5 million.Weekly claims for unemployment have been falling for about four straight months after peaking at about 6 million a week in late March. But weekly unemployment claims remain historically high.Prior to the pandemic, the record high for weekly unemployment claims came in 2006, when 665,000 people filed for unemployment. The Department of Labor has been tracking the statistics since 1967.Economists often use weekly unemployment claims as a reliable tool when predicting unemployment. However, some surveys indicate that initial weekly claims may be underestimating the amount of those unemployed.At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even start the process due to states' overwhelmed and antiquated unemployment systems.The new figures also come weeks before increased unemployment benefits provided through the CARES Act are set to expire later this month.While unemployment remains historically high, the stock market has improved drastically in recent months. Markets closed their best Second Quarter in decades this week, as states' reopening efforts and significant progress on a potential vaccine buoyed investorsHowever, cases are spiking again in many parts of the country. Several states have chosen to pause and even walk back their efforts to reopen their economies, leading to fears that more shutdowns and more unemployment could be on the way. 2247
Tupperware relied on social gatherings for explosive growth in the mid 20th century. In the 21st century, it is social distancing that is fueling sales.Restaurant pain has turned into Tupperware’s gain with millions of people in a pandemic opening cookbooks again and looking for solutions to leftovers. They’ve found it again in Tupperware, suddenly an “it brand” five decades after what seemed to be its glory days.The company had appeared to be on life support, posting negative sales growth in five of the last six years, a trend that seemed to be accelerating this year.Long gone was the heyday of the Tupperware Party, first held in 1948, which provided women with a chance to run their own business. That system worked so well, Tupperware took its products out of stores three years later. But it has struggled as more families gave up making dinner from scratch and also dining out more.Then the pandemic struck.Profit during the most recent quarter quadrupled to .4 million, Tupperware reported Wednesday.The explosion of sales caught almost everyone off guard and shares of Tupperware Brands Corp., which had been rising since April, jumped 35% to a new high for the year. Shares that could be had for around in March, closed at .80 on Wednesday.Tupperware stands apart from most other companies that have thrived in the pandemic. Unlike Netflix, Amazon.com, Peloton or even DraftKings, it doesn’t rely on a hi-tech platform.However, it’s certainly not alone as the pandemic bends how we spend our time more rapidly perhaps than any point in our lifetimes.On Monday the toymaker Hasbro said that its games division, which includes board games like Monopoly, saw a 21% jump in revenue.On Wednesday, Tupperware reported quarterly adjusted earnings of .20 per share, triple what Wall Street had expected. Revenue of 7.2 million was about 30% higher than forecasts and 14% better than last year.CEO Miguel Fernandez said the company, based in Orlando, Florida, had shifted more heavily to digital sales to accommodate those sheltering in the pandemic. He also noted “increased consumer demand.”The company earlier this year had begun a turnaround campaign. Fernandez, who once led Avon, was named CEO in March just as COVID-19 infections began to spread in the U.S. 2293
Two named storms are barreling toward two states right now, threatening to bring strong winds and heavy rains to communities already dealing with Covid-19 health concerns.Tropical Storm Hanna formed in the Gulf of Mexico and is now heading toward southern Texas. Hanna is expected to make landfall Saturday evening. Maximum sustained winds are at 45 mph.A Tropical Storm Warning is in effect for an area between the mouth of the Rio Grande and San Luis Pass, Texas. Hanna is expected to drop 4 to 8 inches of rain through Sunday night, according to the National Oceanic and Atmospheric Administration. 609
UPLAND, Calif. (AP) — The pilot of a small plane that crashed into a Southern California house and burned Thursday has died, authorities said.A father and child inside the home escaped without injuries after the late morning crash.The single-engine Cirrus SR22 went down in Upland, east of Los Angeles. Authorities believe the pilot, who was not immediately identified, was the only person aboard.Upland police Capt. Marcelo Blanco said the cause of the crash was not immediately known.TV news helicopters showed a large portion of the house gutted and smoldering. A parachute was draped over trees.Cirrus aircraft are equipped with parachutes that pilots can deploy in an emergency.The home is near Cable Airport, about 35 miles (55 kilometers) east of Los Angeles. 774
UPDATE: Tuesday's meeting was canceled due to an illness.SAN DIEGO (KGTV) - On Tuesday night, the City of San Diego's Parks and Recreation Department will present two options for redeveloping the De Anza area to the Mission Bay Park Committee.The meeting is open to the public and begins at 6 p.m. at Mission Bay High School.The two plans were released to the public over the summer. Both feature improvements to sports fields, the Mission Bay Golf Course, green space, walking paths, playgrounds and beaches. Both also have new wildlife habitat areas included, although they vary on how many acres (27 or 38). A more detailed look at the plans can be found here.But wildlife preservations groups like the San Diego Audubon Society and ReWild Mission Bay say they don't go far enough to preserve the habitat or protect wildlife.They're calling for up to 200 acres of land set aside. They say it can also provide a buffer against sea level rises from global warming.They've put forth three other alternative plans that have limited amenities for people, but focus on open habitat space."I don't think being able to use an area for cycling, walking or jogging and conservation of the bay are mutually exclusive," says Linda Conser, who walks along the bay every week. "I think they can exist together.""A lot of my friends use this area," says Chris Garry, who launches his fishing boat from the dock at De Anza Cove. "I'm interested to see what it's going to be like." 1490