On Thursday, March 11, 2021, the American Rescue Plan Act of 2021 (ARPA 2021) was signed into law. This is a $1.9 trillion emergency relief package that includes payments to individuals and funding for federal programs, vaccines and testing, state and local governments, and schools. It is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here, including some tax provisions.Continue reading “American Rescue Plan Act Provides Relief to Individuals and Businesses”
Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1
To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1
The CARES Act has far-reaching implications for many. Here are some important provisions to keep in mind:Continue reading “Key Provisions of the CARES Act”
As the American economy enters its eighth year of post-recession growth, the unemployment rate continues to fall. In fact, May’s reported unemployment rate of 4.3% is the lowest in sixteen years, marking just how far we’ve come since a high-point of 10.0% in October 2009. Unfortunately, anecdotal evidence from workers and employers and a deeper dive into labor statistics indicate that, despite these improvements, structural issues remain. While concerns such as underemployment and reduced participation in the labor force remain problematic, perhaps the biggest issue for American jobseekers and businesses today is a growing gap between the skills companies seek and the abilities of the workforce. Known as the ‘skills gap,’ this asymmetry can have a damaging ripple effect that weighs on everything from individuals’ opportunities for employment to overall economic productivity.
The heightened volatility in the capital markets this year has been due, in part, to concerns surrounding the possibility of another recession. While some economic data, such as Gross Domestic Product (GDP), are pointing to signs of an economic slowdown, there is one important number showing optimism that investors should keep an eye on: Continue reading “It’s All About the Jobs!”