With tens of millions of Americans currently out of work, the U.S. is experiencing an unemployment crisis on a scale not seen since the height of the Great Depression. This video looks at the devastating effects of rising joblessness while also explaining how several European…
As social distancing orders forced restaurants to stop serving in their dining rooms, many transitioned to serving customers with take-out meals or delivery. Food delivery services like Grubhub, UberEats, and DoorDash have seen dramatic increases in customers and revenue. Although there has been some controversy…
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%.
In Finland, the heat is on to save the 2019/2020 ski season. Following the closure of the ski resort in Levi as part of the shutdown ordered by the Finnish government in response to the COVID-19 pandemic, the resort decided to take action. Rather than allowing its most precious resource to melt, it decided to save the snow. With the goal of extending what had been an exceptional season because of significant snowfall, workers at Levi literally piled up the snow and covered it with specially designed blankets to insulate it. The plan is that instead of waiting for mother nature to dictate the start date of the 2020/2021 season, Levi will reopen its resort in October using its saved snow. While it is possible that the area will have received some snow by that time, it is typically early autumn. Workers are optimistic that by saving their most important resource, they will be able to recoup some of the losses incurred when the current season abruptly ended in March.
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 a combination of increased global demand and poor harvests, coffee prices in 2011 rose some 69% to reach its highest price in over three decades. As a result, consumers around the world saw an increase in coffee prices in the grocery store and coffee shops. One country that did not see an increase in price, however, was Cuba. This is because the country fixes the price of coffee at 17 cents per 4oz bag, and rations the amount of coffee each household consumes. Once a major coffee exporter, a decline in production led the Cuban government to turn to global markets to supply its population with coffee. The rising prices resulted in the country importing $50 million worth of coffee.
Once a pinnacle of luxury clothing found only in high-end fashion stores, by 2006 cashmere sweaters, which typically sold for hundreds of dollars, could be found in big box stores for as little as $20. The reason for this substantial price drop: increased production and competition from China. The cashmere industry has been around for centuries. Historically, however, Chinese and Mongolian herders exported the raw fiber to Europe, where it was spun and converted into clothing. Beginning in the 1980’s, China made a charge toward industrialization and the market economy. One area of rapid growth was the textile industry.