Your Daily Roundup for April 27th
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Good morning. As the COVID-19 pandemic takes a toll on the U.S. economy, our team at Future Majority is tracking the latest updates:
Americans have been devastated by the economic impacts of COVID-19, and those impacts are disproportionately affecting black and Latino communities:
A new Pew Research Center survey found that 43% of Americans lost a job or have taken a pay cut, or knew someone who was impacted in those ways.
Many Americans say they do not have enough money saved up to cover their expenses for three months if they get laid off or fell ill, but there was a large racial disparity: 53% of white Americans said they had enough to cover three months, while 27% of black Americans and 29% of Latino Americans said the same.
74% of Americans said they had already spent the $1,200 federal stimulus check they received or that it would last them a mere four weeks or less.
States continued to ease their stay-at-home restrictions, but Americans were confused what to do:
The federal government sent conflicting messages, as Dr. Deborah Birx said to expect social distancing to be with us “through summer” and Vice President Mike Pence suggested that the country would be ready to open up by Memorial Day.
Nonetheless, several states across the south relaxed their stay-at-home orders for some businesses, while tens of thousands of beachgoers flocked to the beaches in Orange County, CA.
The stock market crept up as investors were positive about some businesses reopening around the country.
The Paycheck Protection Program is set to begin giving loans again:
After the small business loan program ran out of funds in only a few days last month, it was last week replenished by the Congress and will be ready to provide loans again today. But reports have swirled about its misuse -- large publicly traded companies received over $750 million in loans that were purportedly meant for small businesses to stay afloat and cover payroll.
In the first go-around, hundreds of thousands of applicants for the loan program were denied.
Your Daily Round Up for February 28thGood afternoon. Here are the latest news and updates that our team at Future Majority is tracking. Another Saturday, another
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