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Date
03/05/2021
Last week, the Bureau of Economic Analysis confirmed that the U.S. economy has now expanded for three consecutive quarters, after the pandemic caused GDP to plummet 19.2 percent at an annual rate in the first half of 2020. In the first quarter of 2021, economic growth was bolstered by two additional rounds of Economic Impact Payments (EIPs), extensive vaccination of the population, the easing of COVID-19 restrictions, and continuing progress reopening the economy. Indeed, significant progress has been made in revitalizing many sectors, and the economy has proven its resilience in the face of multiple headwinds. Nonetheless, a full recovery continues to depend upon vaccinating enough of the population for effective herd immunity and ensuring individuals and businesses can thrive, despite the challenges posed by the global pandemic.
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SAN FRANCISCO (Reuters) - U.S. businesses have been spending more on technology than on bricks and mortar for more than a decade now, but the trend has accelerated during the pandemic, one more sign that working from home is here to stay.
As spending on home-building has risen, spending on nonresidential construction has dropped, with that on commercial, manufacturing and office space slumping to under 15% of total construction outlays in March, Commerce Department data showed Monday. Graphic: Don t build them and they won t come -
Business spending on structures fell in the first quarter, data from the Bureau of Economic Analysis showed last week. It was the sixth straight quarterly decline, showcasing one of the few weak spots in the economy as it regains steam amid a receding pandemic.
– the biggest drop in economic output occurred during the 2nd quarter, April-June, when Illinois was under the most severe economic restrictions –
They clearly forgot to add: “because of the virus. Only because of the virus. The restrictions didn’t actually matter at all.
Only. Virus.” That would mean the state shifts to a “Bridge Phase,” that increases capacity at festivals, social events, concert and other activities…
2 words: STATE. FAIR.
- Cool Papa Bell - Monday, May 3, 21 @ 7:34 pm:
He addressed the fair today and with it being in August that’s a long way out to project.
But with New York and the rest of the region set to crack open. It’s gonna be hard to keep a lid on anything here moving forward.
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Increasing living standards depends on increasing worker productivity. Competition causes firms to tie wages closely to employees’ productivity. Since 1973, the average private-sector employee’s productivity has increased by 81 percent, while their average compensation has increased by 78 percent.
Some analysts have produced charts purporting to show that productivity has grown sharply while pay has remained nearly flat. These charts contain many methodological errors. They:
Compare the pay of only some workers to the productivity of all employees;
Count productivity growth of the self-employed, but exclude their pay growth; and
Measure inflation differently to calculate pay growth and productivity growth.