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Consumer Savings Rate Spikes amid Uncertainty

Posted on October 26th, 2020

Consumer Savings Rate Spikes amid Uncertainty
Store and restaurant closures have prompted consumers nationwide to stay home, spend less, and save more. Dwindling consumer confidence along with uncertainty in the job market has prompted a shift in behavior from spending to saving. The savings rate jumped from 8.4% in February this year to 32.2% in April as the pandemic took hold […]

Rising Inequality In American Cities

Posted on October 22nd, 2020

Rising Inequality In American Cities
The pandemic’s full effect on American cities remains to be seen, with major uncertainties regarding the sociological impact on individuals and communities. This widespread disruption of society magnifies concerns of widening socioeconomic inequality, as those lower on the economic ladder experience the worst impact. As businesses continue to adapt to the post-pandemic period cities will […]

Unemployment Remains High in Many Industries

Posted on October 19th, 2020

Unemployment Remains High in Many Industries
The most recent labor statistics made available by the U.S. Department of Labor identifies more severe increases in unemployment in certain industries. Economists and analysts believe that the year-over-year increases in unemployment are attributable to the pandemic, where mandatory closures and restrictions are continuing to hinder businesses and workers nationwide. Unemployment is affecting various occupations […]

October 2020 State of the Fund Report

Posted on October 15th, 2020

October 2020 State of the Fund Report
September Pullback Suggests Market Top Financial markets saw their first negative month in September since the crash as stock indices dropped from their all-time highs after the furious August rally. A pullback in red hot tech stocks combined with a plethora of growing economic and political concerns sent markets plunging at the start of the […]

Markets Sank in September but Finished Quarter Higher

Posted on October 13th, 2020

Markets Sank in September but Finished Quarter Higher
Stimulus and pandemic uncertainties caused a pullback in markets in September, but the stock market still managed to close the third quarter higher. The technology sector was the primary contributor to the S&P 500 Index, which was up 8.93% for the third quarter. Consumer discretionary and industrial stocks also performed well during the quarter, keeping […]

October 2020 Economic Snapshot

Posted on October 9th, 2020

October 2020 Economic Snapshot
Worries over a second wave of infections heading into the fall, election uncertainties, and wavering economic indicators dampened economic sentiment in the past month. Equities paused their upward trajectory in September, with technology stocks falling from their highs. Uncertainty surrounding vaccine deployment and the election are expected to influence market momentum and investor confidence. Election […]

Inaccurate Data Blinds Government Policymaking

Posted on October 8th, 2020

Inaccurate Data Blinds Government Policymaking
Among the many disruptions caused by the pandemic, government data collection has been hindered considerably. Various agencies and departments of the federal government have relied on personal collection of data for decades as a reliable and validated process of gathering data. Numerous economic indicators and indices are vital for economists and government officials to decipher […]

Pandemic Creating Challenges for IRS

Posted on October 5th, 2020

Pandemic Creating Challenges for IRS
As the pandemic has taken a toll on income for individual businesses, companies, and families across the country, it has also taken a toll on U.S. government income. The IRS releases a disclosure annually of the sources of income collected from taxes. Part of the revenue generated by the IRS is the enforcement of tax […]

Inflation Increases Faster and Hits Harder for Retirees

Posted on October 1st, 2020

Inflation Increases Faster and Hits Harder for Retirees
Data compiled by the government via the Bureau of Labor Statistics (BLS) maintains a separate tally of inflation for people over 62. The rarely heard of index, known as the CPI-E, is a variation of the traditionally recognized CPI (Consumer Price Index), but with an emphasis on goods and services mostly used by those over […]

Pandemic Shrinks Consumer Choice

Posted on September 28th, 2020

Pandemic Shrinks Consumer Choice
In response to the COVID-19 pandemic, American consumer choices have changed in the realm of diet, food preparation, and lifestyle habits. The transition into at-home cooking as a means of financial saving and risk reduction has expanded through American society and is projected to leave both short-term and long-term effects on consumer choices. In addition […]

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