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Tag Archives: Global Economics

Phone Data Shows the Retail Recovery Has Stalled in Covid Hotspots

U.S. states that have driven a record surge in coronavirus cases may now be slipping backward here in their economic recovery, as cellphone data shows retail visits in a clutch of high case-growth locations falling below the rest of the country.In Arizona, Texas, Florida, Georgia and South Carolina, which had edged ahead of other states during their drive in May to reopen commerce, retail foot traffic has slipped below levels elsewhere, information from data firm Unacast showed. The data,...

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Brexit July Deadline is History, Now What?

Negotiation TacticsThe ultimate deadline is the end of the year. Is there still time for a deal of any kind?Eurointelligence comments Maybe They are Not Negotiating After All.Philippe Lamberts MEP shared an interesting snippet of information about the state of the Brexit negotiations. Don't take it for granted that we are in a final stretch. While it appears that negotiations are going on, this is pure illusion. The British are not negotiating, he said. This corroborates our take last week....

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State Claims Decline But All Unemployment Claims Are on the Rise

All Continued Claims Rise for Third WeekBased on Pandemic Unemployment Assistance, admittedly lagging, there is little or no improvement in the number of unemployed.My "All Continued Claims" chart is the sum of state claims, federal claims, and various pandemic unemployment assistance (PUA) claims. All claims lags continued claims by two weeks.State Continued ClaimsBased on trends in PUA claims any improvement may be a mirage.Primary PUA ClaimsInitial State ClaimsContinued state claims lag...

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Fewer People Pay Their Rent on Time in July

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 77.4 percent of apartment households made a full or partial rent payment by July 6 in its survey of 11.4 million units of professionally managed apartment units across the country.This is a 2.3-percentage point decrease from the share who paid rent through July 6, 2019 and compares to 80.8 percent that had paid by June 6, 2020. These data encompass a wide variety of market-rate rental properties across the United...

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United Warns It May Cut 36,000 Employees

Due another outbreak of Covid and reduced travel United Warns It May Furlough 36,000 Staff.United Airlines Holdings Inc. said it could be forced to shed almost half its U.S. workforce, telling 36,000 employees on Wednesday that they could be furloughed from Oct. 1 because of the pandemic-driven slump in passenger demand. The airline is still burning through $40 million a day, the executive told reporters on Wednesday, adding that it could no longer count on a further round of government...

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Trump Claims to Have Saved 51 Million Jobs

Fresh out of the Obama playbook, the Trump Administration Says Pandemic Aid Saved 51 Million JobsU.S. President Donald Trump’s administration touted its $660 billion small business pandemic aid program this week as a “wild success,” unveiling data that showed the initiative saved 51 million jobs.“I’m skeptical of the total number,” said Philip Mattera, a director at Washington-based non-profit Good Jobs First, which focuses on government accountability.Mattera said one “telltale” sign that...

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Sweden’s Covid Experiment is Now a Certified Failure

I submit that a lot of people will disagree with your contention, including the author of this article. Jul 7, 2020 Second wave? Not even close. JB Handley Why did politicians ever lockdown society in the first place? Can we all agree that the stated purpose was to “flatten the curve” so our hospital system could handle the inevitable COVID-19 patients who needed care? At that point, at least, back in early March, people were behaving rationally. They accepted that you can’t eradicate a...

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New York City Commercial Property Sales Plunge to 2009 Lows

Painful Consequences for City Tax CollectionsThe Volume of Commercial Property Sales in New York City Cratered in the second quarter and the trend will likely accelerate.Investors purchased only 170 properties valued at $3.6 billion between April 1 and the end of June, the lowest number of transactions for a three-month period since the second quarter of 2009, according to B6 Real Estate Advisors. There were 523 deals valued at $7.6 billion in the second quarter of 2019, said the firm, which...

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The Planes are Safe, It’s the People Who Aren’t

Leeham writer Bjorn Fehrm has said that the aircraft recirculation system is effective in controlling spread of virus. Here is part 1 of a multi-part series.In part 9, Fehrm says the HEPA filters in the cabin return path are hospital-grade and remove 99.9% of the viruses.Fehrm also comments on the need to stay hydrated because the recirculated air is very dry. Today Leeham has a different take, but not about the recirculation system. itself.Why I Won't be Flying SoonPlease...

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Trump’s New Nafta is a Proven Failure Already

USMCA, Trump's NAFTA replacement entered into force on July 1, 2020. Trump hailed USMCA and Nancy Pelosi signed off on the deal because both assumed production would shift to the US. However, rather than move plants to the US, Japan Auto Companies Will Triple Mexican Pay.The US-Mexico-Canada Agreement requires 40% or more of parts for each passenger vehicle be manufactured by workers who are paid at least $16 per hour as a condition to make them tariff free in the region. Trump hailed that...

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