In normal times, the stock market is often a reflection of the economy. But these are not normal times. Even though April was marked by a global shutdown of businesses, rampant unemployment and low economic growth, the S&P 500 Index ended the month up 12.9%. This represented the highest one-month gain since 1987 and posted…

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Sole proprietors in the U.S. caught a huge break in April. The Paycheck Protection Program, borne out of the economic hardship caused by the COVID-19 pandemic, became available to solo entrepreneurs and independent contractors on April 10, 2020.1   According to a 2017 survey, 36% of U.S. workers are part of the gig economy.2 With…

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In past recessions, industries like manufacturing and construction were often the hardest hit. For example, some economists referred to the Great Recession as a “man-cession” because at the outset, more men lost jobs than women. In some households, wives were able to find employment more often than men. The recovery, however, favored men, who regained…

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A recent survey by the National Endowment for Financial Education found that almost 90% of Americans were feeling anxious about their money situation.1   39% were worried about job security 48% worried about paying bills 28% didn’t know if they could pay their utilities 41% were worried about not having enough emergency savings 23% were…

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