As with any major global conflict, we learn things. The pandemic taught the U.S. the importance of reshoring manufacturing jobs, so we aren’t beholden to other nations, like China, for many of our consumer goods, from medicines to electronics.1 One of the key lessons emerging from the Russia-Ukraine conflict is self-reliance for energy sources, such …
Inflation was already on the rise before we learned about the omicron variant. Now on top of supply-chain shortages and transportation disruptions, Federal Reserve Chairman Jerome Powell recently observed that a resurgence of COVID-19 cases could reduce the consumer-driven boom we’ve enjoyed for the past few months. Concerns about safety could result in more workers …
It is interesting to evaluate how various economic events throughout time affect different demographics. For example, the 2007-2009 Great Recession saw higher losses in male-oriented jobs, such as construction and manufacturing. The pandemic-induced recession of 2020 was quite the opposite, affecting women to such a degree that the event spawned the term “she-cession.”1 There is …
This past August, close to 4.3 million Americans quit their jobs — the most ever in just one month (since the government began collecting data two decades ago).1 But there isn’t just one reason people are quitting their jobs. There are dozens. Some who had to juggle care for children or elderly relatives have chosen caregiving …
An important economic driver for America — working consumers — is dwindling. For example, the Denver International Airport recently hosted a concessions job fair to fill around 1,000 openings at the airport for jobs at stores, restaurants, and other businesses. Only 100 people attended the fair.1 Money could be one issue. In Georgia, Kentucky, and …
Inflation is a steady rise in the price of goods and services over time and actually signals both good and bad economic conditions. On one hand, as prices rise, someone living on a fixed income cannot purchase the same amount of goods, so they tend to reduce spending or buy cheaper alternatives. On the other …
As of Aug. 28, 2021, there were 2.8 million unemployment claims in the U.S. That’s considerably higher than the pre-pandemic level of 1.7 million, but much improved from the pandemic high of more than 23 million in May 2020.1 One of the more remarkable surprises to emerge from the pandemic is how many people are …
Even with lockdowns, fewer parties and reduced travel, the National Retail Federation reports that in 2020, Americans spent $209 billion on holiday-related purchases — averaging about $998 per person.1 If it seems a bit early to be talking about holiday shopping, consider that you may want to shop earlier than ever this year. That’s because …
They say we don’t always appreciate what we have until it’s gone. That was one of the big lessons learned during the pandemic — but there are others. We learned a lot about the quirks and interests of family members — which tend to change as our children grow and we don’t always realize how …
Historically, inflation has been highly correlated with unemployment levels. When more people were out of a job, inflation was lower. As more people got jobs, inflation increased. From an economic point of view, this makes sense. Jobs increase income, which increases spending, which increases demand — supplies drop and prices rise. The opposite is true …
