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Economic Impact

COVID-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic COVID-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic
Covid-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic The COVID-19 pandemic and subsequent economic turmoil are leading to supply shortages in places you might not have considered. Among purchasables in short-supply are cats and dogs up for adoption to baking yeast, jigsaw puzzles, and truffles among other things. When COVID-19 closed much of the economy in March 2020, items that include toilet paper, paper towels, cleaning supplies, coins, meat, and flour were among the first pandemic-related shortages Americans experienced. Most of those shortages have been addressed by manufacturers and supply chains. But as the U.S. comes up on one year…
COVID-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here COVID-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here
Covid-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here A new interactive map is forecasting the economic impact of the COVID-19 pandemic not just on individual states, and towns, but neighborhoods, as well. Created by BestNeighborhood.org, a property data clearinghouse, the map draws on industry data and economic projections to predict where the economy will be hardest hit by the pandemic over the next 6-12 months. With just a bit of clicking and zooming, very precise predictions about where the economy is expected to suffer the greatest economic damage from COVID-19 can be searched down to street-level. The map is color-coded and, at the s…
COVID-19: College In Upstate NY Cutting 25 Academic Programs COVID-19: College In Upstate NY Cutting 25 Academic Programs
Covid-19: College In Upstate NY Cutting 25 Academic Programs Citing financial hardships brought on by the COVID-19 pandemic, an upstate New York college will be cutting some faculty and programs to help balance their budget. The Board of Trustees at the College of Saint Rose in Albany approved a plan to reduce academic expenses by $5.97 million, eliminating 16 unique bachelor’s degrees, six master’s degree programs, and three certificate programs. Students enrolled in those programs will be able to finish their degrees and will receive individualized plans to complete their program, though there will be no new students enrolled in that program. Acco…
COVID-19: Pet Valu Closing All US Stores COVID-19: Pet Valu Closing All US Stores
Covid-19: Pet Valu Closing All US Stores Pet Valu is closing all of its stores in the United States starting Thursday, Nov. 5. On Wednesday, Nov. 3, in a press release owners said the economic impact of COVID-19 has forced their decision to close 358 stores across the nation. There are dozens of Pet Valu retailers located in Connecticut. Pet Valu Canada will not be affected by the changes, owners said in a press release. The 600 Canda stores and online retail will continue on. Pet Valu said that all sales will be final starting on Nov. 5 - no refunds or exchanges. People are being encouraged to spend any accumulated loyalty pe…
The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since COVID-19 The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since COVID-19
The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since Covid-19 A new poll of U.S. households with children found that more than 60 percent are facing major financial difficulties since the COVID-19 outbreak. Released in September, the new study, “The Impact of Coronavirus on Households With Children,” is a research project between NPR, the Robert Wood Johnson Foundation, and the Harvard TH Chan School of Public Health. The study polled nearly 3,500 adults with children and highlights how households are faring in areas of child care, finances, employment, and health, among others since COVID-19 upturned the national economy. - 61 percent of households …
Amazon To Lay Off More Than 50 Employees At CT Distribution Site Amazon To Lay Off More Than 50 Employees At CT Distribution Site
Amazon To Lay Off More Than 50 Employees At CT Distribution Site Layoffs are predicted now that Amazon has cut ties with Bristol distributor Systemized Logistics. Almost two years ago, Amazon opened a “delivery station” in Bristol’s 229 Technology Park. It was a sorting destination with an initial staff of 100 people. Estimates said the number of employees could grow to as many as 500, said Mayor Ellen Zoppo-Sassu. More than 50 people will be laid-off, the New Britain Herald reported. “We encourage those affected by the layoff to take advantage of the local branch of the American Jobs Center for reemployment assistance,” the mayor said. In a statement…
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men’s Wearhouse and Jos. A. Bank will close up to 500 stores and lay off 20 percent of its corporate workforce, the California-based company has announced.  Massachusetts and Connecticut combined have more than two dozen such stores. The company has not announced a timeline for closure. Although the company is yet to name which stores are subject to closure: Connecticut has Men’s Wearhouses and Jos A. Banks in over 12 communities including West Hartford, Danbury, Milford, Enfield, Meriden, Glastonbury, and Fairfield. In Massachusetts, shops for Men's Wearhouse and Jos. A. Bank can be…
COVID-19: Cheesecake Factory To Close Stamford Location COVID-19: Cheesecake Factory To Close Stamford Location
Covid-19: Cheesecake Factory To Close Stamford Location The Cheesecake Factory plans to permanently close a location in Fairfield County due to the economic impact of the novel coronavirus (COVID-19) pandemic. The closure of the restaurant, located at the Stamford Town Center Mall on Tresser Boulevard, will result in the loss of about 100 jobs and is effective at the close of business on Sunday, Aug. 1. In a Worker Adjustment and Retraining Notification ("WARN") Act filing dated Friday, June 26, the company wrote: "Business conditions rapidly and suddenly deteriorated during the continuing COVID-19 crisis, national emergency, and …
COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company'
Covid-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' Macy's is eliminating 3,900 corporate and management positions, about three percent of its total workforce, in a move to cut costs amid a steep decline in revenue during the novel coronavirus (COVID-19) pandemic. It's also reducing staffing across its stores, supply chain and customer support network, the company announced Thursday, June 25. Macy's says it will adjust staffing as sales rebound. “COVID-19 has significantly impacted our business. While the re-opening of our stores is going well, we do anticipate a gradual recovery of business, and we are taking action to align our cos…
Stop & Shop Announces Closure Of CT Store Stop & Shop Announces Closure Of CT Store
Stop & Shop Announces Closure Of CT Store A Stop & Shop location in Connecticut will be shutting its doors before the end of the year due to poor sales. Stop & Shop announced that its location on Centennial Plaza in Meriden will be permanently closed in the fall. “Stop & Shop has made the difficult decision not to renew the lease for our store in Centennial Plaza in Meriden, Connecticut, as the store was not meeting financial expectations,” a company spokeswoman said.  “Stop & Shop intends to operate the store and the fuel station through the fall of 2020 and at that time, all associates will be given the opp…
COVID-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities COVID-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities
Covid-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities A detailed report containing recommendations for reopening Connecticut colleges and universities is under review by state officials. The education committee of the Reopen Connecticut Advisory Group outlined a plan for a gradual reopening of higher education campuses – at the discretion of each institution and depending on health conditions – based on factors detailed in the report, Gov. Ned Lamont said on Wednesday, May 6. Those guidelines include a gradual reopening of higher education campuses over the summer followed by the reopening of most or all programs in the fall. "Our colleg…
COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic
Covid-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic The demand for home delivery and online store pickup grocery sales have skyrocketed during the novel coronavirus (COVID-19) pandemic, according to a new report. Home delivery and store pickup online grocery sales reached a new 30-day record for April, hitting $5.3 billion and marking a 37-percent increase from $4 billion in March, according to the latest Brick Meets Click and Symphony RetailAI Online Grocery Survey. The report found the month-to-month sales growth represents a 33 percent increase in the monthly number of online orders, from 46.9 million to 62.5 million. There was also a 3 p…
COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says
Covid-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says Half the country has taken a financial hit due to the novel coronavirus (COVID-19) pandemic, and most don’t believe they’ll be heading back to work soon, according to a newly released Marist College poll. According to the poll, 50 percent of Americans said they or someone in their household has lost their jobs or hours due to the virus, up from 18 percent from a previous poll just a month ago. "There are few households in the country that haven't been affected by this crisis, through health, through school, through jobs, from all walks of life, from all backgrounds," Barbara Carvalho, direc…
COVID-19: Here's One Bright Spot In Record March Retail Sales Decline COVID-19: Here's One Bright Spot In Record March Retail Sales Decline
Covid-19: Here's One Bright Spot In Record March Retail Sales Decline Though the novel coronavirus (COVID-19) pandemic has wreaked havoc on retail stores in the entire nation, grocery and beverage store sales skyrocketed to new heights, according to newly released data. While retailers have seen businesses plummet, grocery stores and beverage depots have seen sales increase by more than 25 percent since the outbreak began in early March, according to a new report from the National Retail Federation. According to the U.S. Census Bureau, the overall retail business was down 8.7 percent from February to March, and down 6.2 percent at the same point last year. Th…
Big Retail, Food Chains Closing Shop In New York City In Record Numbers Big Retail, Food Chains Closing Shop In New York City In Record Numbers
Big Retail, Food Chains Closing Shop In New York City In Record Numbers Big business may be becoming a smaller thing in New York City as several large retailers and food chains continue a mass exodus. For the first time in more than a decade, nationally known chains are moving out of New York City, according to a brand-new report that was recently released. According to the study, nationally known retailers are moving out of the area in greater numbers than their coming in, marking the first time in 11 years. The Center for Urban Future determined that a record 124 retailers have reduced their store footprint over the past year, nearly double the 65 retailers t…
MTA Plans New Rate Hike, Citing 'Very Difficult Economic Times' MTA Plans New Rate Hike, Citing 'Very Difficult Economic Times'
MTA Plans New Rate Hike, Citing 'Very Difficult Economic Times' Travelers can expect a hike in prices as the Metropolitan Transportation Authority proposes a rise in fares and tolls for the coming year to cover rising expenses. Citing projected declines in revenues and increases in cost for providing services, the MTA announced that it will require “fare and toll adjustment and new sustainable revenue sources in order to avert significant service cuts and layoffs.” “In the face of very difficult economic times, we’re aggressively pursuing cost savings and identifying efficiencies while we work hard to create the renewed and modernized public transportat…
J.C. Penney To Close More Stores, Lay Off Hundreds Of Employees J.C. Penney To Close More Stores, Lay Off Hundreds Of Employees
J.C. Penney To Close More Stores, Lay Off Hundreds Of Employees J.C. Penney says it will close eight stores in 2018, resulting in 480 job cuts. This comes after the department store chain shuttered 140 stores in 2017. The eight stores scheduled for closure this year are: Hampton Village Plaza in St. Louis, Missouri Garden State Plaza in Paramus, New Jersey Sandburg Mall in Galesburg, Illinois Viking Plaza in Alexandria, Minnesota Washington Park Mall in Bartlesville, Oklahoma Cascade Mall in Burlington, Washington Calexico Store in Calexico, California Knox Village Square in Mt. Vernon, Ohio J.C. Penney had announced earlier this week, 600 jobs would …
Twenty More Deaths Reported From Flu In Connecticut Twenty More Deaths Reported From Flu In Connecticut
Twenty More Deaths Reported From Flu In Connecticut Another 20 flu-related deaths were reported in Connecticut in the past week, bringing the total for this current flu season to 52. According to the CDC, the flu results in 31.4 million outpatient visits and 200,000 hospitalizations across the country annually. While flu seasons are unpredictable and can vary in severity each year, there are between 3,000 and 49,000 influenza deaths nationwide. This causes an estimated annual $87 billion total economic burden to U.S. businesses. In Connecticut, there have been more than 1,000 people hospitalized with the flu, including the 52 fatalities - 44…