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Economic Impact

Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals
Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Researchers have reported the findings of a new poll about the adjustments New Yorkers plan to make to their lifestyles in response to inflation. The Siena College Research Institute published the findings of an economic impact survey conducted in March. Researchers found that 26 percent of respondents said inflation is having a very negative effect on their personal finances, and 44 percent said it is having a somewhat negative effect. Eighty-seven percent of respondents reported that they are concerned about the cost of food in light of economic conditions and the war in Ukraine, and 80 …
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: Nassau County Executive Calls On Cuomo To Lift Restaurant Curfew COVID-19: Nassau County Executive Calls On Cuomo To Lift Restaurant Curfew
Covid-19: Nassau County Executive Calls On Cuomo To Lift Restaurant Curfew Nassau County Executive Laura Curran is calling on New York Gov. Andrew Cuomo to extend the 10 p.m. curfew on bars and restaurants as Long Island continues combating the COVID-19 pandemic. Curran issued a letter to fellow Democrat Cuomo on Tuesday, Feb. 9 requesting that the state adjust the current 10 p.m. curfew to midnight, stating that bar and restaurant owners have shown they can open and operate safely without spreading the virus. In her letter, Curran noted that the restriction hurts the revenue for restaurant owners and also cuts the hours and tips of employees. “I have heard from …
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…
COVID-19: Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores COVID-19: Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Covid-19: 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.  The company has not announced a timeline for closure. The continuing negative economic impact of COVID-19 was largely blamed for the decision, according to corporate parent company Tailored Brands President Dinseh Lathi. Following these changes, the company expects to pay about $6 million in severance pay and other termination costs. Tailored Brands has an estimated 1,500 stores across all of its brands.
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…
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…
COVID19: NYS Labor Department Website Crashes As Unemployment Claims Spike COVID19: NYS Labor Department Website Crashes As Unemployment Claims Spike
COVID19: NYS Labor Department Website Crashes As Unemployment Claims Spike As layoffs, particularly among small businesses, have started amid the novel coronavirus (COVID-19) outbreak, the economic impact is being felt in states around the region and across the nation. After New York state’s unemployment benefits website repeatedly crashed over the last several days, a system of filing alphabetically by the first letter of last names launched. It was outlined on the Department of Labor's Facebook page, where there have been numerous complaints posted by those having trouble accessing the main website. "The system is overwhelmed and keeps crashing," one comment pos…
NY Population Losses Now Spreading To NYC, Nassau, Westchester Counties NY Population Losses Now Spreading To NYC, Nassau, Westchester Counties
NY Population Losses Now Spreading To NYC, Nassau, Westchester Counties The mass exodus of residents leaving New York State is not exclusive to upstate, and has spread to the New York City, Westchester and Long Island. The U.S. Census Bureau’s 2018 population estimates are out, and the numbers show that nearly 50,000 New Yorkers left the Empire State, with a notable increase in Nassau and Westchester counties. In total, statewide, 48,500 people left New York, which was one of just nine states to lose population over the previous year - a 0.25 percent decline that leaves the state’s population at approximately 19.5 million people. It is the third straight year …