For nearly two months, we've been chronicling calls from strategists and economists who believe the worst economic impacts from the pandemic are behind us .
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Existing home sales for the month of May fell 9.7% from April to a seasonally-adjusted annual rate of 3.91 million. Sales fell 26.6% from the same month last year.
"Sales completed in May reflect contract signings in March and April – during the strictest times of the pandemic lockdown and hence the cyclical low point," said Lawrence Yun, chief economist for the National Association of Realtors. "Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year."
And here's another article:
Fed's gloomy economic outlook 'about right,' say economists: Reuters poll -
While the June 15-22 poll of over 100 economists showed a recovery from the steepest economic downturn was underway as commerce reopens, the loss of output in the first half of this year was not expected to be recouped by the end of next year.
Ten respondents said the Fed’s projections were “too pessimistic” and only five said “too optimistic.”
Economic data appear to back up the Fed’s economic projections, with jobless claims still more than double their peak during the Great Recession. Fed Chair Jerome Powell has acknowledged it could take years for all the people left unemployed during the pandemic to reacquire jobs.
Alumni Spotlight: Elena Belletti Finds Economic Solutions for Environmental Protection
The Alumni Spotlight series includes interviews with Earth Institute alumni about their career paths, how they became interested in Earth Institute programs, and for any advice that would be useful to current and future students.
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I started my career in the energy sector in Europe (the U.K. and Denmark), where I helped companies improve the value of their commercial and economic opportunities. I then worked for the United Nations for about four years, specifically at the Financing for Sustainable Development Office in New York City.
The Economic And Health Trade-Offs Of Reopening The Economy
The lockdown measures imposed to try and halt the spread of the covid-19 virus have had a profound impact across the economy, but while the impact has been widespread, it's equally true that not all businesses have had to shut. As economies begin to open again as lockdown measures ease, calculations are being made about the economic and health tradeoffs from opening some businesses versus others.
For instance, banks performed well in the analysis, as they ranked first in terms of their economic importance, but only 14th in terms of the health risk their operation poses. By contrast, liquor and tobacco stores tended to come at the bottom of the league table, alongside businesses such as juice bars, cafes and gyms.
This may worth something:
Stocks Climb on Positive Economic Data - WSJ
Stocks rose Tuesday on improving economic signals in the U.S. and overseas as coronavirus restrictions continue to ease.
The S&P 500 gained 1%, and the Dow Jones Industrial Average added 240 points, or 0.9%. The tech-heavy Nasdaq Composite rose 1.3%, boosted by gains in Apple and Amazon shares.
The Economics Of Leading In The Age Of The Cancel Culture
Sit, stand. Say something, say nothing. Act, react. Never has it been so easy to provoke — by words, deeds or the absence of either. How can you effectively lead, when every day it seems like you must cross a potential minefield, inside and outside your own organization?
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It’s unclear where the terms “cancel culture” or “call out culture” originated. What is more important is the fact that this has rapidly escalated into an aggressive tool used to pressure others into sharing their opinions and behaviors. Cancel, boycott, walkout. Who is taking these actions? Employees, customers, the general public, amplified by the speed and reach of social media.
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When No-Deal ruins our economic recovery the blame must be precise/fair. MPs who didn't support 2nd Ref by Nov 201… https://t.co/hrpTWhTCWm Femi_Sorry (from Solihull, England) Sun Jun 21 18:24:17 +0000 2020
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