House of Representatives Passes a New COVID-19 Relief Package – SBA Issues Updated FAQs
The legislation, which passed the Senate Tuesday, includes $310 billion in funding for the Paycheck Protection Program. The Small Business Administration issued an updated FAQ document today for PPP lenders and borrowers to provide guidance on application submissions, secondary sales of PPP loans and eligibility for businesses with large company ownership.
4.4 Million More People Filed for Weekly Unemployment Claims
More than 4.4 million Americans filed their first claims for unemployment insurance last week as the U.S. economy bleeds jobs under a lockdown imposed to slow the coronavirus pandemic, the Labor Department reported Thursday.
More than 26 million Americans have applied for their first round of unemployment insurance since March as shuttered businesses began laying off workers. Millions more are believed to have lost their jobs but have been unable to apply for or are disqualified from receiving jobless benefits.
The Composite Purchasing Managers’ Index for the Eurozone Posted a Reading of 13.5 in April – A Reading Below 50 Suggests a Contraction
Europe’s economy nosedived in March, with surveys from the continent’s three largest powers tanking to record lows far worse than anything witnessed even during the depths of the 2008 financial crisis.
Britain’s, France’s, and Germany’s manufacturing and service-sector performances have fallen off a cliff as the coronavirus outbreak shut down economic activity around the world, according to IHS Markit’s closely watched Purchasing Managers’ Index, which surveys business leaders in the economy.
“The dire survey readings will inevitably raise questions about the cost of the lockdown, and how long current containment measures will last,” said Chris Williamson, IHS Markit’s chief business economist.
Cuomo: New York Antibody Study Estimates 13.9% of Residents Have Had the Coronavirus
The State has completed a statewide antibody testing study in which a random sample of 3,000 New Yorkers were tested for antibodies in 19 counties and 40 localities. Of the individuals tested 13.9% had COVID-19 antibodies, which means they had the virus at one point but have recovered or were asymptomatic.
With more than 19.4 million people residents, according to U.S. Census data, the preliminary results indicate that at least 2.7 million New Yorkers have been infected with Covid-19. The results differed across the state with the largest concentration of positive antibody tests found in New York City at 21.2%. In Long Island, 16.7% of the people tested were positive and in Westchester, where the state’s first major outbreak originated, 11.7% of the tests were positive. The Covid-19 pandemic across the rest of the state is relatively contained with just 3.6% of positive test results.
Those varied results, the Governor said, reinforce the need to take a regional approach to reopening – both within New York State and across the Northeast.
Where, How, and When to get Tested for the Novel Coronavirus in Each County in the Hudson Valley and Catskills
Chronogram has compiled a very helpful list of locations and proceedures for COVID 19 testing.
“With uncertainty regarding the virus in general circulating, confusion around testing guidelines and resources seems to be just as widespread. So, when should you ultimately get tested and where? What symptoms would someone need to be experiencing in order to be tested? We have gathered all the COVID-19 testing information for each county in the Hudson Valley and Catskills and compiled it into this comprehensive list. (Please note the testing centers listed under each county are only the public sites listed by each county. Additional testing locations can be found by calling each county’s coronavirus hotlines, or the state’s at (888) 364-3065).”
GM Exec: Don’t Expect Factories to Operate Like Before
General Motors is developing “a playbook” to help all its manufacturing sites get ready for whenever they reopen says worker safety executive Jim Glynn, who suggests certain changes will remain long term, such as not running back-to-back shifts. The company is using “visual cues,” masks and temperature checks at its factories that are making ventilators, he says.
Re-Opening: Greenwald Doherty have Compiled a Summary of Some Legal Issues that Employers Will Want to Keep in Mind as They Resume On-Site Operations
Governments are making plans to re-start the economy and, in some parts of the country, moving forward. Although in most states, shelter-in-place orders are still in effect and most non-essential businesses remain closed, companies are also starting to plan for restarting operations and re-hiring downsized workforces. When business resumes, things will move quickly and companies will need to consider safety issues, legal compliance, staffing concerns, and many other logistical and economic factors.
Below is summary of some legal issues that employers will want to keep in mind as they start to resume on-site operations: