Economics

The soaring number of COVID-19 cases in the United States has far outstripped many local health departments’ ability to trace the contacts of those infected, a step critical in containing the virus’ spread.

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South Korea

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Volunteers save New York's oldest community farm as Covid-19 hits agriculture

Jul

Volunteers save New York's oldest community farm as Covid-19 hits agriculture The pandemic upended the practices that typically keep Quail Hill Farm running smoothly. It’s emblematic of an industry-wide struggle Alexandra Talty the Guardian

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Virus wipes out 5 years of U.S economic growth

Jul

The coronavirus pandemic’s toll on the nation’s economy became emphatically clearer Thursday as the government detailed the most devastating three-month collapse on record, which wiped away nearly five years of growth.

Gross domestic product, the broadest measure of goods and services produced, fell 9.5 percent in the second quarter of the year as consumers cut back spending, businesses pared investments and global trade dried up, the Commerce Department said.

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Research on illness-related absences during the COVID-19 increases

Jul

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Remittances: They Crossed Oceans to Lift Their Families Out of Poverty. Now, They Need Help.

Jul

...Around the globe, the pandemic has jeopardized a vital artery of finance supporting hundreds of millions of families — so-called remittances sent home from wealthy countries by migrant workers. As the coronavirus has sent economies into lockdown, sowing joblessness, people accustomed to taking care of relatives at home have lost their paychecks, forcing some to depend on those who have depended on them.

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U.S. Coronavirus deaths are at the highest level in two months; Economy falters

Jul

Coronavirus updates: U.S. deaths top 1,000 for four consecutive days More than 74,000 coronavirus cases were reported across the United States on Friday, and Anthony S. Fauci said states hit hard by the virus should walk back their reopenings. David Lynch, Meryl Kornfield, Marisa Iati Washington Post

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Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine

Jul

On June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19.

Vaxart’s shares soared. Company insiders, who weeks earlier had received stock options worth a few million dollars, saw the value of those awards increase sixfold. And a hedge fund that partly controlled the company walked away with more than $200 million in instant profits.

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James Dimon's Warning for the U.S. Economy and uncertainties ahead

Jul

Jamie Dimon's warning for the U.S. economy — nobody knows what comes next More than four months into the coronavirus pandemic, the financial damage wrought by the outbreak has yet to fully register. Hugh Son CNBC

The range of outcomes for the economy in the second half is incredibly wide: JPMorgan Chase sees no fewer than five different paths it can take.
The bank has gotten more pessimistic, seeing unemployment in its default “base” scenario hitting nearly 11% by the end of this year, 4.3% worse than when it made the same forecast in April.

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