BBC reports, dozens of Microsoft employees (outsourced through a media firm) were informed their services were no longer needed. They are being replaced with artificial intelligence and software that can now complete their jobs. Microsoft is the owner and operator…
The United States is unexpectedly facing a shortage of coins across the country. Banks and businesses are reporting a dramatic decrease in the circulation of coin. The decrease in the coin supply is based on the partial closure of the…
The international mobilization of the Black Lives Matter movement and the increasing calls for action against racial injustice are also shedding light on the lack of diversity in economics. The New York Times released an article, highlighting these racial disparities.…
Currently, they are more than 14,000 summer camps across the United States. States all over the nation are preparing to slowly open their economies. The American Camp Association states that it will vary greatly based on region and local governing…
After several months of legal proceedings, the T-Mobile and Sprint merger has been approved. The merger required approvals from the Department of Justice and the U.S. Federal Communications Commission. Through the legal proceedings, the two companies were required to prove…
The impact of the coronavirus in the United State is producing a devastating trend: people of color are infected with and are dying from coronavirus at a disproportionally higher rate. In Chicago, African Americans are 30% of the population. However, African Americans account for 50% of those who have tested positive for COVID-19 in Chicago and account for three quarters of Chicago’s COVID-19 deaths. Similarly, Johns Hopkins reports that in Milwaukee, Wisconsin, African Americans are 26% of the population, but account for 70% of the region’s deaths due to the coronavirus. The Pew Research Center reports 27% of African American adults personally know someone that has been infected by the virus. This statistic is double that found for White and Hispanic adults, which were each at 13%.
Churches across denominations all over the world have been severely impacted by COVID-19. Like several sectors in our economy, the religious sector was simply not prepared for a pandemic. Reportedly, it is the common perception that smaller churches will not survive the COVID-19 pandemic. However, in several counties, such as Duval County in Jacksonville, FL, the current maximum number of people allowed is 50, social distancing at six feet apart. Exponential by LifeWay Research found 57% of churches have 100 people or less and 21% have 50 people or less. Therefore, in counties with maximum attendance/crowd limits of 50, 21% of those churches are legally allowed to continue operating within social distancing measures, and 57% must mildly reduce their service attendance numbers. Hence, in some cases, smaller churches have been less impacted by COVID-19 stay-at-home orders and have continued to hold face to face services.
Restaurants and service industries have been severely impacted by COVID-19. Many restaurants were forced to close their doors due to stay-at-home measures and some will remain closed permanently. As supply chains are broken all over the United States, food prices are increasing. Restaurants are dealing with higher costs and reduced revenues. As a result, some restaurants are implementing what is being called a “COVID-19 surcharge.”
Due to stay-at-home orders implemented around the world, malls, businesses, schools, universities, and more have temporarily closed or reduced operations. This has significantly reduced economic activity. Additionally, it has reduced the number of people driving. With less people on the roads, the number of accidents occurring has significantly decreased, resulting in drastically reduced risks to insurance companies. The University of California released a report stating that since the implementation of the stay-at-home orders in late March, the number of accidents has reduced by more than 50% . In California specifically, traffic volume has decreased by 55%. As a result, the monies insurance companies must pay out in claims has significantly decreased. However, despite the reduction in risks, insurance companies are still collecting monthly premiums from their policyholders, whose insurance now covers cars that are not being driven and accidents that are much less likely to occur.
