Phys .org: Global economic stability could be difficult to recover in the wake of the COVID-19, finds study

Phys .org: Global economic stability could be difficult to recover in the wake of the COVID-19, finds study. “Analysis from the University of Surrey suggests that the economies of countries such as America, the United Kingdom and Germany should prepare for a long slow recovery with prolonged periods of instability.”

CNBC: Powell warns of ‘significant uncertainty’ about the recovery and says small businesses are at risk

CNBC: Powell warns of ‘significant uncertainty’ about the recovery and says small businesses are at risk. “Federal Reserve Chairman Jerome Powell warned Tuesday about ‘significant uncertainty’ regarding the pace of the U.S. economic recovery and said small businesses and lower-income and minority Americans are particularly at risk.”

CNBC: Jobless claims total 1.5 million, worse than expected as economic pain persists

CNBC: Jobless claims total 1.5 million, worse than expected as economic pain persists. “Weekly jobless claims stayed above 1 million for the 13th consecutive week as the coronavirus pandemic continued to hammer the U.S. economy. First-time claims totaled 1.5 million last week, higher than the 1.3 million that economists surveyed by Dow Jones had been expecting. The government report’s total was 58,000 lower than the previous week’s 1.566 million, which was revised up by 24,000.”

BuzzFeed News: The Real Economic Catastrophe Hasn’t Hit Yet. Just Wait For August.

BuzzFeed News: The Real Economic Catastrophe Hasn’t Hit Yet. Just Wait For August.. “More than 40 million people lost their jobs in the last few months, in the fastest and deepest economic slowdown ever recorded. More than half of all households with low incomes in the United States have experienced a loss of earnings, as have a quarter of all adults. The numbers are grim — but as bad as things look today, they’re on track to get much, much worse. The US economy right now is like a jumbo jet that’s in a steady glide after both its engines flamed out. In about six weeks, it will likely crash into the side of a mountain.”

Phys .org: New website shows impact of European virus confinement

Phys .org: New website shows impact of European virus confinement. “Environmental and economic impacts of the coronavirus in Europe can now be seen using satellite data provided by the European Space Agency, it announced Friday. The ESA and the European Commission launched an internet-based programme that compares pollution levels during the health crisis with a baseline scenario, measures chlorophyll concentrations or illustrates economic parameters such as harvests.”

New York Times: Pakistan’s Deficit and Poverty Rate to Soar Due to Coronavirus

New York Times: Pakistan’s Deficit and Poverty Rate to Soar Due to Coronavirus. “Pakistan’s fiscal deficit will be significantly worse than projected this fiscal year, with the fallout from the novel coronavirus pandemic pushing millions into unemployment and poverty, according to government estimates reviewed by Reuters.”

Vox: The economy is in free fall. So why isn’t the stock market?

Vox: The economy is in free fall. So why isn’t the stock market?. “Earlier in the coronavirus crisis, Wall Street had a meltdown. Stocks plunged amid fears of the disease’s spread and its potential impact on the global economy, sometimes to the point that trading was halted altogether to rein in the chaos. But in recent weeks, the market has been doing okay. It’s not at the record highs it was in mid-February, but it’s not bad — the S&P 500 is hovering around where it was last fall. And given the state of the world — a deadly global pandemic with no end in sight, 30 million Americans recently out of jobs, an economy that’s fallen off of a cliff — a relatively rosy stock market is particularly perplexing.”

IRI: RI Launches IRI CPG Inflation Tracker to Track Price Changes Amid COVID-19 and Beyond

IRI: IRI Launches IRI CPG Inflation Tracker to Track Price Changes Amid COVID-19 and Beyond. “IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced the launch of the IRI CPG Inflation Tracker™ on its free, online COVID-19 Data Dashboard. The new tool provides a standard metric for tracking weekly price-per-unit changes for consumer packaged goods compared to the year-ago period across departments, including fixed and random weight products, grocery aisles and retail formats. This resource allows CPG manufacturers and retailers to assess in real time the way pricing is evolving due to the supply chain and economic impacts of the pandemic and quickly adapt their strategies.”

Harvard Gazette: Real-time data to address real-time problems

Harvard Gazette: Real-time data to address real-time problems. “Called the Opportunity Insights Economic Tracker, the tool was created as a public resource to help policymakers assess the effects of the downturn in different regions of the U.S. with the most up-to-date information possible. With a more complete and current picture of the nation’s economic standing, policymakers should then be able to make evidence-based decisions as they move to reopen the nation. The tool provides lawmakers real-time analysis of data such as consumer spending and job postings, which normally takes them several weeks to get.”

News@Northeastern: How Will The Economy Bounce Back After Covid-19?

News@Northeastern: How Will The Economy Bounce Back After Covid-19?. “The COVID-19 pandemic has wrought havoc on the United States economy, where stay-at-home measures have brought certain industries—such as restaurants, hotels, and salons—almost to a complete standstill. Economists predict that the economic downturn will be sharp, but short—a prediction that rests upon the choices that government officials make during this crucial period, says economist Alicia Sasser Modestino.”

NTD: 460,000 Chinese Firms Went Under in First Quarter, Underscoring Impact of Virus on Economy

NTD: 460,000 Chinese Firms Went Under in First Quarter, Underscoring Impact of Virus on Economy. “Nearly half a million businesses in China closed down in the first quarter of 2020, according to data collected by online databases, revealing the extent of the epidemic’s impact on the country’s economy. Meanwhile, business owners began protesting for government financial support as their businesses are on the brink of bankruptcy.”

The Guardian: Prepare for the coronavirus global recession

The Guardian: Prepare for the coronavirus global recession. “If history is any guide, the global economy will eventually recover from the Covid-19 pandemic, but the idea that this is going to be a V-shaped recession in the first half of 2020 followed by a recovery in the second half of the year looks absurd after the tumultuous events of the past week.”

Phys .org: Researchers map global economy in collaboration with LinkedIn

Phys .org: Researchers map global economy in collaboration with LinkedIn. “A small team of researchers at Indiana University has created the first global map of labor flow in collaboration with the world’s largest professional social network, LinkedIn. The work is reported in the journal Nature Communications.”

The European Sting: An economist explains how to value the internet

The European Sting: An economist explains how to value the internet. “It is one the most commonly used measures of economic activity: gross domestic product (GDP), defined as the total market value of all final goods and services produced within a country in a given period. But GDP misses out on huge chunks of value in the digital economy. When digital goods, whether Google Maps or Wikipedia, are available free of charge, they make no impact on GDP despite the value to their users.”