Great Recession

Shuttered businesses
steved_np3/Getty Images
David Madden
May 10, 2020 - 4:00 am
The push continues to get Congress and the White House to give a financial boost to local governments hard hit by shutdowns prompted by the global pandemic. One plan getting a lot of attention is a half trillion dollar proposal co-authored by New Jersey Sen. Bob Menendez and Louisiana counterpart...
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Philadelphia City Council chambers
Courtesy of Joe Grace
Pat Loeb
May 01, 2020 - 4:54 pm
Philadelphia’s COVID-19 cases continue to decline but the virus’ devastating effect on city finances became clearer Friday as Mayor Jim Kenney submitted a new budget to city council with deep cuts and some tax increases to close a $650 million deficit caused by COVID-19. Read more here.
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Mayor Jim Kenney
Holli Stephens/KYW Newsradio
Pat Loeb
April 30, 2020 - 8:31 pm
Philadelphia’s fight against COVID-19, including a stay-at-home order that has shuttered most businesses, has cost the city $649 million, money that Mayor Jim Kenney will propose making up with a combination of cuts and tax increases when he presents a revised budget to City Council on Friday. Read...
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A pedestrian walks by The Family Barbershop, closed due to a Gov. Gretchen Whitmer executive order, in Grosse Pointe Woods, Mich., Thursday, April 2, 2020.
Paul Sancya/AP Photo
AP News
April 03, 2020 - 8:54 am
A record-long streak of U.S. job growth ended suddenly in March after nearly a decade as employers cut jobs because of the viral outbreak that's all but shut down the U.S. economy. The actual job loss was likely even larger than reported, because the government surveyed employers before the...
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In this March 17, 2020 file photo, people wait in line for help with unemployment benefits at the One-Stop Career Center in Las Vegas.
John Locher/AP
AP News
March 26, 2020 - 9:46 am
Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. Read more here.
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Julie Wertheimer.
Pat Loeb/KYW Newsradio
Pat Loeb
November 09, 2019 - 4:00 am
The woman in charge of Philadelphia's criminal justice reform effort left city government Friday after 12 years. Serving under two administrations, she leaves behind a landmark achievement. Read more here.
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Charitable giving
Steve Bisson/Savannah Morning News via AP
June 18, 2019 - 12:13 pm
NEW YORK (AP) — Charitable giving by individual Americans in 2018 suffered its biggest drop since the Great Recession of 2008-09, in part because of Republican-backed changes in tax policy, according to the latest comprehensive report on Americans' giving patterns. The Giving USA report , released...
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Millennials and the Great Recession
Allie Schmitz/CNNMoney
May 23, 2018 - 1:17 pm
By Tami Luhby (CNN Money) -- Some Millennials may never get over the Great Recession. The net worth of a typical family headed by someone born in the 1980s was 34% below what was expected, according to a new Federal Reserve Bank of St. Louis study titled "A Lost Generation?" What's worse, the...
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