Monday, July 26

Economic Recovery

Analysis, BI Graphics, coronavirus, delta variant, Economic Recovery, Economy, Markets, Pandemic, Unvaccinated, Vaccinations, Vaccine

The week the Delta variant threatened the economy

The highly contagious Delta variant of the coronavirus now makes up the majority of US Covid cases. Americans are getting worried, sending markets on a fleeting plunge this week. While economic data suggests a robust recovery, the Delta variant remains a threat. LoadingSomething is loading. Just when Americans are getting into the throes of a ...
Analysis, Buying, Discreet Wealth, Economic Recovery, Economy, Happiness, Inconspicuous Consumption, Markets, Services, Shopping

If we all agreed to buy less stuff, we could be happier and work fewer hours

If you've spent any time thinking about post-pandemic fashion, you may know that the social media skirmishes over skinny jeans, side parts, cargo shorts, and Crocs, all add up to one thing: nothing is universally cool anymore. The decline of "cool," as mapped out by Vox's Safy-Hallan Farah, is another economic trend that the pandemic appears to have accelerated. Monoculture has been in decline for decades as the Internet facilitated diffuse subcultures, all with their own definition. Now, a year in quarantine has exploded the cultural consensus.That's a bigger deal than it sounds like.Modern consumers often signal class standing through what we wear, carry, and drive — and that's long been a source of economic growth. Consume...
Central Bank, Economic Recovery, Economy, Fed, Federal Reserve, Labor Market, labor shortage, Markets, Supply Shortage, Supply shortages

The Fed is bummed out by all the supply and labor shortages, too

The US is recovering well, but supply constraints and worker shortages present obstacles, the Fed said. Product shortages can provide "more lasting but likely still temporary upward pressure" on prices. New technology and retirements could keep the labor market from returning to its pre-crisis norm, the Fed added. See more stories on Insider's business page. Vaccination may be keeping COVID-19 at bay, but the pandemic's fallout lives on in supply shortages and labor scarcity, the Federal Reserve said Friday.March stimulus, vaccination, and the revers...
Andy Kiersz, BI Graphics, Economic Recovery, Economy, Job Growth, Jobs Report, Labor Market, Labor market data, labor shortage, Markets, nonfarm payrolls, US Labor Market

The US labor market is on pace to stage a complete recovery in 7 months

The US is on track to regain all jobs lost during the pandemic by February 2022, Insider calculates. The June jobs report showed hiring accelerated as businesses raised pay and the US reopened further. The recovery aligns with forecasts from the Congressional Budget Office and Federal Reserve officials. LoadingSomething is loading. ...
COVID-19 relief bill, Economic Recovery, Economy, Enhanced unemployment benefits, Federal Government, Mike Parson, Missouri, Politics, President Joe Biden, Unemployment benefits, Unemployment Rate, US Economy and Markets, weekend BI US

Unemployment declining faster in states that are cutting off $300 enhanced federal benefits, according to WSJ

Unemployment is declining faster in states ending weekly $300 federal benefits, per the WSJ. Missouri ended enhanced federal benefits for unemployed state residents as of June 12. The state's unemployment rate sits below the national average, but many continue to struggle. Sign up for the 10 Things in Politics daily newsletter. LoadingSomething is loading. ...
Biden economic plan, Biden stimulus, economic outlook, Economic Recovery, Economy, Features, Government Spending, housing market, Labor Market, Markets, Remote Work, Stimulus, US housing boom, US Housing Crisis, us housing market

3 fundamental changes from the pandemic economy that could become permanent

Some elements of the pandemic-era economy are likely to stick around well after the recovery. Experts warned the post-crisis economy would be different, and now it's becoming clear how. From remote work to a red-hot housing market, 4 fundamental shifts could be permanent. See more stories on Insider's business page. The post-pandemic economy is taking shape.Fifteen months after the US first plunged into lockdown, the economy is well on its way to a complete reopening. Spending is up, businesses are rehiring, and Americans are — slowly — returning to work. Economists largely agree that economic output will grow at the fastest rate s...
Central Bank, Economic Recovery, Economy, Fed, Federal Reserve, Full employment, Jerome Powell, Labor Market, Labor Markets, Lael Brainard, Larry Summers, Markets, maximum employment, monetary policy, Randal Quarles, Unemployment, US Labor Market

The government is pursuing’maximum employment’ for the first time. Here’s how it differs from’full employment’ and the risks it brings.

The Fed is targeting "maximum" employment over "full" employment in a major shift for the US economy. The new goal aims to bring forth a more equitable rebound, particularly for minorities and low-income households. This focus tests how many Americans can be hired before an inflationary spiral is set off. See more stories on Insider's business page. Maximum employment. Full employment. They may seem to be similar phrases, but they are dramatically different, in ways that could shape the US economy long after the pandemic ends.After decades of adhering to an agreed-upon employment threshold called full employment, the ...