As COVID-19 continues to hang over the economy, more insurance companies say they’re pessimistic about revenue growth and likely to shed employees in the next year, according to a new labor market study.
The owner of a Bloomington nursing home where 11 people died after contracting COVID-19 has accepted $20 million in loans through the Paycheck Protection Program—about 200 times the average amount for a program designed to help much smaller businesses.
Bloomington-Normal businesses and other organizations were approved to borrow at least $130 million through the federal Paycheck Protection Program, with the most money going to restaurants and doctor’s and lawyer’s offices, according to a WGLT review of the loan data.
A Twin City economics professor says aggressive action by Congress and the Federal Reserve helped spare an economic calamity during the pandemic. But Mike Seeborg at Illinois Wesleyan University said it will be too costly to continue these financial lifelines much longer.
Another 2,800 people in the Bloomington-Normal area filed for jobless benefits for the first time in May, fewer than the two previous months but still worse than at the peak of the Great Recession, the state reported Thursday.
Mayor Lori Lightfoot says Chicago will proceed with its next stage of reopening after coronavirus stay-at-home orders despite days of unrest and violence. Vandalism and violent clashes have followed peaceful protests citywide after George Floyd's death.
McLean County residents struggling financially because of COVID-19 could need up to $2.7 million in housing assistance in just the next three months—and a new community coalition says it’s got a plan to meet that challenge.