By now you have probably heard many news stories about how the pandemic is crushing the economy, particularly hitting local small businesses the hardest. Small businesses have struggled during the coronavirus pandemic, but their owners hope the holiday shopping will boost their sales. Viviana O. started her business, JV Beauty Lashes, at the start of this year, just before … [More]
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Small Businesses Need Our Help Here’s How to Support Local Businesses During This Holiday Season
by Edgar R. Olivo
Why Housing Demand Will Likely Stay High for Years to Come
Zillow
Low rates of household formation since the Great Recession have caused 5.7 million "missing" households, a new Zillow® analysis finds. These missing households represent people who historically would have moved into their own home but have been unable or unwilling to do so, and should keep housing demand high for many years to come as the market catches up. Americans of … [More]
Gaining Momentum: Annual U.S. Home Prices Appreciated 7.3% in October, Says Report
CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2020. Nationally, home prices increased 7.3% in October 2020, compared with October 2019, marking the fastest annual appreciation since April 2014. On a month-over-month basis, home prices increased … [More]
Workforce and Childcare
by Mike Hunter
It has been reported some parents here in the United States are using between 8% and 42% of their income to have their children cared for while they are at work. Recent studies collated by co-working specialists Instant Offices shows more than half of American parents are more concerned about childcare costs now than they were before the pandemic. While the cost of daycare … [More]
Customer Benefits Come from Credit Union Acquiring Bank
by Mike Thorell
Arizona Federal is the only Arizona-based credit union with SBA PLP status. We were able to obtain this designation through the acquisition of Pinnacle Bank just one year ago. Pinnacle was a community bank I was proud to stand up back in 2005. Arizona Federal had obtained the designation by exhibiting a successful track record of processing small business loans and by … [More]
Rising Weekly Unemployment Claims as Pandemic Surges, Taking Toll on Economy
U.S. Department of Labor
In the week ending November 21, the advance figure for seasonally adjusted initial claims was 778,000, an increase of 30,000 from the previous week's revised level. The previous week's level was revised up by 6,000 from 742,000 to 748,000. The 4-week moving average was 748,500, an increase of 5,000 from the previous week's revised average. The previous week's average was … [More]
Johnson & Johnson, Pfizer, and Merck Lost $3.5B in Combined YTD Revenue
AksjeBloggen.com
The coronavirus pandemic put enormous pressure on the healthcare industry, forcing pharmaceutical giants to roll out clinical trials for a COVID-19 vaccine at breakneck speed. At the same time, significant changes in demand, research and development processes, and regulation revisions amid the coronavirus crisis cut down revenues of the biggest players in the market and … [More]
How the Economic ‘Reset’ Can Work in Your Favor
inbusinessPHX.com
While news of vaccines on the horizon signal hope, some analysts think a sizable chunk of the U.S. economy has been damaged permanently by COVID-19, with more layoffs and business closures still to come in 2021. But to others, the future of a “new economy” in the post-COVID world is bright, opening doors for entrepreneurs, working professionals and small-to-medium business … [More]
Signaling a Recovery: U.S. Single-Family Rent Growth Gained Strength in September, But Still Below Pre-Pandemic Rates
CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across more than 20 metropolitan areas. Data collected for September 2020 shows a national rent increase of 2.5% year over year, down from a 3% year-over-year … [More]
Home Values Rising Faster than at Any Time since 2005
Zillow
A market defined by intense demand for relatively tight supply pushed month-over-month and quarterly home value growth to levels not seen since 2005, according to Zillow's® latest Real Estate Market Report[1]. Rent appreciation, meanwhile, is steaming ahead in many Midwest and Sun Belt cities while declining in major coastal metros. The high-demand market also meant more … [More]
Small Business Optimism Quarterly Industry Survey: Focus on Construction, Manufacturing, Retail, and Services Industries
NFIB
The NFIB Research Center released the latest quarterly Small Business Economic Trends Industry-specific survey. The survey highlights the construction, manufacturing, retail, and services industries. NFIB released previous reports in August and May 2020. “This year has been challenging for small business owners as they manage their businesses in a time when the COVID-19 … [More]
U.S. Weekly Jobless Claims Increase amid Coronavirus Surge
U.S. Department of Labor
In the week ending November 14, the advance figure for seasonally adjusted initial claims was 742,000, an increase of 31,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 709,000 to 711,000. The 4-week moving average was 742,000, a decrease of 13,750 from the previous week's revised average. The previous week's average was … [More]
Survey: 70% of Hotels Won’t Survive without More COVID Relief
American Hotel & Lodging Association
With a resurgence of COVID-19 and renewed travel restrictions enacted in many states, a new survey of American Hotel & Lodging Association (AHLA) members shows that the hotel industry will continue to face devastation and significant job loss without additional relief from Congress. Seven in ten hoteliers (71%) said they won’t make it another six months without further … [More]
Survey Reveals Employee Productivity & Engagement during Covid-19
Ten Spot
Ten Spot, the workforce engagement platform that keeps your employees connected, announced the results of its national employee survey, Employee Productivity & Engagement During Covid-19. The findings provide insight into the productivity and engagement levels of those who have been working from home since the pandemic started, and the challenges they've encountered. … [More]
Hiring Software Co. Study Shows What’s Ahead for 2021 Job Market
ThinkWhy
ThinkWhy, a SaaS company helping businesses navigate the labor market, has released a 2021 job market outlook report encompassing an analysis and forecast of the 2021 job market with recovery projections through 2025. Including major themes for the year to come, as well as a look at the impact of COVID-19 on the 2020 labor market, the 2021 Outlook report includes recovery … [More]
Arizona, Colorado & Nevada Hardest Hit by Q3 Middle Market Business Bankruptcies
Resolute Commercial Services
Middle market businesses in Arizona, Colorado and Nevada have been hit the hardest by COVID-19 in the nine-state Rocky Mountain West region, according to bankruptcy statistics outlined in the current Resolute Index prepared by Resolute Commercial Services. Identifying Regional Trends The Resolute Index is a quarterly summary of noteworthy trends in bankruptcy filings and … [More]
Report Details Airfare Pricing Trends, Emerging Destinations and Traveler Priorities
Airlines Reporting Corp.
Airlines Reporting Corp. (ARC), in collaboration with Expedia.com®, today released the 2021 Travel Trends Report, which analyzes extensive travel data from Expedia and ARC to uncover key search and booking trends for travelers. Top insights in the report include money-saving strategies for purchasing travel, evolving traveler priorities, and trending destinations … [More]
Survey: 7 out of Ten Americans Unlikely to Travel for Holidays
American Hotel & Lodging Association
A new national survey commissioned by the American Hotel & Lodging Association (AHLA) shows that many Americans are not expected to travel this holiday seasons. Results show that 72% of Americans are unlikely to travel for Thanksgiving and 69% are unlikely to travel for Christmas, compounding the challenges for the hotel industry during this public health … [More]
