Abstract: In response to desperate calls for help from government officials, doctors, and hospitals around the world, automakers are stepping up to help in the battle to stop the Covid-19 pandemic that has hit nations across the globe. Automakers, with their extensive global supply chains…
Sales of baby chicks often rise before Easter, but this year’s increase has been extraordinary due to a variety of factors influenced by COVID-19: people are staying home with time to spend, while egg prices have increased 50% in some parts of the country due to increased demand, and eggs are difficult to find on shelves in some cities.
After the federal government placed a ban on gatherings of ten or more people last Monday, restaurants and bars across the country either closed or drastically altered their operations. Although such measures are necessary to contain the spread of coronavirus, countless businesses have had to furlough workers or lay them off entirely as a result. In fact, statistics released by the Labor Department this morning found that a record 3.3 million Americans applied to receive unemployment benefits last week.
Don’t call it a comeback! Amid the COVID-19 pandemic, certain markets will see expansions and others will see contractions. We already see contraction and a reduction in economic activity in our service industries. One unique market that is seeing an expansion, or increase in economic activity, are Drive-In Movie Theaters. The Los Angeles Times reports, some of the 305 drive-in movie theaters in the United States are seeing a surge in sales. The Paramount Drive-in (in Paramount, CA) reported that their sales have at least doubled, and demand is at an all-time high.
As the economic fallout from the Covid-19 pandemic continues to pile up, Harvard economist Ken Rogoff says that a global recession is almost certainly in the cards, at least in the short term. Already filings for unemployment benefits have surged, stock markets around the world have crashed (taking with them the gains of the past three years), and factories and shops are shutting down. Many countries are now implementing emergency fiscal stimulus policies in an attempt to stop the carnage, but the economic chaos is expected to be especially challenging for developing countries and emerging markets. China, the origin of the novel coronavirus, now offers a glimpse of optimism as it begins to reopen its economy following its own period of social distancing and economic lockdown, although it is unclear who will buy its products if the rest of the world is staying home.
The COVID-19 pandemic is impacting businesses large and small. Several economists are declaring that a recession is on the horizon. A recessionis a business cycle contraction when there is a general decline in economic activity.This occurrence would be devastating to millions of households around the…
In strenuous times, new economies often emerge and grow. The Great Recession lasted from the late 2000s to the early 2010s. Since 2010, CNBC reports that the gig economy has grown by over six million people. According to CNCB“The Bureau of Labor Statistics believes such…
Fears over the spread of coronavirus have upended daily life for millions of Americans and countless businesses. The CDC has recommended that organizations cancel any events with 50 or more people, and restaurants around the country are either switching to take-out only or closing entirely.…
