With many people hesitant to travel due to fears of contracting or spreading COVID-19, passenger airlines have felt the effects with air traffic in the United States down 70 percent for 2020, according to the Transportation Security Administration (TSA). The two companies have said they would reverse the cuts if Congress and the Trump administration reached an agreement on a new stimulus deal, but little progress has been made. Economists fear Southwest Airlines and Delta Air Lines will cut jobs next month. [The New York Times]

Napa Valley is world famous for its array collection of wines in an industry that analysts estimate to be worth $70 billion. The fires in the region have severely damaged buildings or vineyards of at least 16 wineries in the region, forcing wine makers to throw away wine and grapes that may be smoke-filled or having to completely halt their harvest. [The Wall Street Journal]

With COVID-19 spreading in the United States, retailers have had to adjust what is typically one of their busiest times of the year. Amazon is planning it's first Prime Day in October. Experts are expecting a down year for holiday shopping shoppers. Many households fear losing a job and will spend less. Fewer people are expected to travel and they will probably purchase fewer gifts for extended family members.[Associated Press]

Workers who lost their jobs in March at the start of the COVID-19 pandemic are closing in on six months, which is the threshold for long-term unemployment, while the number of permanently unemployed has continued to rise. History tells us that it will be difficult for long-term unemployed to find jobs while the number of permanently unemployed continues to grow – which is indicative of a long, slow economic recovery. [The New York Times]