Feds estimate $45B in pandemic unemployment aid was stolen - September 23, 2022

Executive Leadership Briefing

The House passed bipartisan legislation Thursday after months of negotiating within the Democratic caucus to advance the four police-funding bills. The House approved additional funding for departments with fewer than 125 officers and aid for de-escalation training and mental health services to decrease fatal encounters. A national poll found support dropping for the Black Lives Matter movement and a number of police reform policies, which have risen in popularity in recent years. Still, 90% of Black adults say multiple aspects of the criminal justice system need change to ensure equal treatment with 95% emphasizing a focus on police.

An estimated $45.6 billion in pandemic unemployment benefits was likely fraudulently paid to criminals between March 2020 and April 2022 who used the Social Security numbers of dead people and prisoners to claim the aid. The updated figure is much higher than the $16 billion in fraudulent payments that the Labor Department cited in June 2021 and illustrates the daunting task still ahead of Washington as it seeks to recover the funds and hold criminals accountable. The number of Americans filing new claims for unemployment benefits has dropped since its peak in 2020 but hiring is expected to weaken as the Federal Reserve continues to raise interest rates.

World Bank President David Malpass said it was clear greenhouse emissions are causing climate change, backtracking on his comments after coming under heavy criticism when he declined to say whether he accepts the scientific consensus on global warming. The comments alarmed many activists who were already urging the World Bank to do more to accelerate clean-energy ventures and halt funding for fossil-fuel projects. The comments come as the United Nations General Assembly heard calls from leaders urging countries to impose windfall taxes on fossil fuel companies.

Target said it plans to hire up to 100,000 seasonal workers across the U.S. to prepare for the holidays, a level of hiring that is consistent with last year but slightly below 2020 numbers. Target said the holiday hires will receive its new wages that range from $15 to $24 an hour. Similarly, Walmart announced it plans to hire 40,000 seasonal workers and Michaels said it's seeking 15,000 people to staff up its craft stores for the shopping period. Although most retailers have trimmed their holiday hiring, they promised to give current members extra shifts and more earning potential.

After Hurricane Fiona shut down Puerto Rico's entire power grid, which has been in bankruptcy for the last half-decade, the now Category 3 storm sideswiped Bermuda, heading straight for northeastern Canada. Canadians have been warned Fiona could be the strongest storm to ever hit the country’s coast, with experts saying it could be “Canada’s version of Hurricane Sandy” that caused an estimated $78.7 billion in damage. In Bermuda, Fiona pounded the island with heavy rains and 125 mph winds late Thursday, forcing school and office closures. Only about 32% of Puerto Rican residents had power restored as of Thursday and more than half were still without clean water.

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