With everything that has already happened in 2020, you would hope that the bottom is in and hopefully a strong economic recovery would continue. But if you’re looking at the very limited statistics shown by government and what is generally understood, you will not see the real deal. The worst is certainly yet to come and that should be common knowledge. It’s a step by step process. The retail stores. The malls. The vacancies. The food banks. The layoffs. The moratoriums. The decimated industries. It has only just begun.
Retail Store Databank | Coresight Research
This chart shows the number of major retail store openings, store closures and net store openings in the US from 2012 to 2020 YTD, by retail sector. For more information on specific sectors, please select from the dropdown list. Sector:
More Homes Are Going Dark as Moratoriums on Utility Shut-Offs End – WSJ
Since the pandemic started, 36 states have issued moratoriums on utility shut-offs for people who couldn’t pay their bills. But in many states, those moratoriums have expired or are set to end, leaving millions at risk of losing their electricity.
List of major company layoffs due to the coronavirus – Business Insider
The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing their workforces.
The spread of the coronavirus is projected to impact millions of jobs worldwide. Over 6 months, more than 60 million Americans have filed for unemployment insurance – that’s more than the number of claims filed during the 18-month Great Recession. The travel and hospitality industries have taken a significant hit.
Facing $250M deficit, University of Delaware turns to layoffs, furloughs | The Latest from WDEL News | wdel.com
The University of Delaware will layoff staff in multiple departments and furlough all staff due to the ongoing coronavirus pandemic. It’s unclear, at this time, how many staff members will be affected by the layoffs. In a letter to the campus community, University President Dr. Dennis Assanis called these decisions “extremely difficult.”
Coronavirus economy: Layoffs loom at Pebble Beach
Big job cuts are being planned at the iconic Pebble Beach resort in Monterey County, while separate layoffs are in the works at Bay Area hotels as well as the Golden Gate Bridge District, with the employers blaming staff cutbacks on coronavirus-linked woes.
Boeing Job Cuts: Executive Roles at Risk and Real Estate to Be Sold in New Plan – Bloomberg
The pandemic has devastated downtown D.C. Some fear the damage is permanent. – The Hour
WASHINGTON – It’s evening rush hour in the nation’s capital, and the McPherson Square Metro station on a September Tuesday is all but empty. Thousands once squeezed at this time onto the trains departing from the heart of downtown Washington, two blocks north of the White House.
Layoffs Tracker – Layoffs.fyi
Seen a layoff list or know about a layoff? Let us know and help the affected people get exposure to companies that are hiring. Companies are in reverse chronological order. View site on a desktop to sort, filter, search.
Gig Economy Company Launches Uber, But for Evicting People
A company called Civvl says evicting people is the “FASTEST GROWING MONEY MAKING GIG DUE TO COVID-19.”
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Robinhood ‘dumb money’ may be fueling big Wall Street lie
“Nobody likes to be average.” That idea is reinforcing “one of the big lies from Wall Street” as retail investors turn to platforms such as Robinhood to try their hands at stock-picking, Larry Swedroe, chief research officer at Buckingham Wealth Partners and co-author of “The Incredible Shrinking Alpha,” told CNBC’s “ETF Edge” on Monday.
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The economy is changing in 2020. Many stores are not in the same status of 2019 and prior. The debt has increased dramatically. Credit cards and mortgages. Money is flowing into stocks.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.