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Health/Food Posts Tagged as 'Economy'
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Meat eaters get hit hardest as inflation sees grocery bills soar: 
A quarter said they are buying less red meat as a result of the price hikes. Meat prices rocketed by up to 25 per cent last spring, during the early days of the COVID-19 pandemic, when meat plans were hit by staff shortages caused by the virus.
They subsequently dropped, but Bloomberg's data suggests shoppers are once again feeling the pinch.
Morning Consult economist John Leer told Bloomberg: 'We’ve got these pockets of inflation without having corresponding wage growth, and that’s going to put consumers in a really tough spot.'
For Hispanic and black Americans, more than 40 per cent report spending more money on food since the start of 2021. For white Americans that figure is 30 percent.
Italian restaurant in Philadelphia suburb is shut down after hepatitis A outbreak kills
How Small Restaurant Owners Are Navigating the Labor Shortage
But those benefits have expired in some states already — and some jobs data suggests ending them didn’t exactly lead to a wave of rehires.
How Small Restaurant Owners Are Navigating the Labor Shortage
Wages Are Going Up — And So Is Inflation. Consumer Prices Have Hit A 13-Year High
Restaurants’ Fragile Recovery Is Fizzling in the U.S.
Chick-fil-A Lawsuit Claims Raising Menu Prices on Delivery Orders Is Deceptive
Procter & Gamble to raise prices of more household goods
Here's why Zillow won't be buying any more homes to renovate and resell this year
Grocery store shoppers sound off on surging prices
Gas hits $7.59 a gallon in CA town
Tyson Foods plans further price hikes
RV owner parked in affluent Seattle neighborhood builds 'shack' on top of vehicle
RV owner parked in affluent Seattle neighborhood
Palm Springs lifts COVID-19 curfew; bars and restaurants can now stay open until 2 a.m. 
Palm Springs lifts COVID-19 curfew; bars and restaurants can now stay open until 2 a.m.
China to overtake US as world's biggest economy by 2028, report predicts
The Centre for Economics and Business Research said that it nowexpected the value of China’s economy when measured in dollars to exceed that of the US by 2028, half a decade sooner than it expected a year ago.
In its annual league table of the growth prospects of 193 countries, the UK-based consultancy group said China had bounced back quickly from the effects of Covid-19 and would grow by 2% in 2020, as the one major global economy to expand.
With the US expected to contract by 5% this year, China will narrow the gap with its biggest rival, the CEBR said. Overall, global gross domestic product is forecast to decline by 4.4% this year, in the biggest one-year fall since the second world war.
China to overtake US as world's biggest economy by 2028, report predicts
"People are saying, 'Oh my god, I'm running out of money,' and they have no idea what's to come," said Alex Emanuel, an actor, filmmaker and musician in New York whose unemployment aid ran dry two months ago.
The issue is affecting a range of workers, including people who lost their jobs toward the end of 2019 and have run through multiple unemployment aid extensions provided by Congress earlier this year. Gig-economy workers and others who tapped the federal Pandemic Unemployment Assistance (PUA) program early in the crisis are also about to run out of aid.
These benefits aren't particularly generous — the typical weekly unemployment check amounts to $333 a week — but out-of-work adults tell CBS MoneyWatch that the additional money has helped them pay for necessities like utilities and rent.
Unemployment aid is running out for millions:
Updated: How Do Black People Spend Their Money? (The Racial Wealth Gap)
I predict that even after reading this article there a significant number of Black people who will NOT change their habits and work toward changing their situation. Over time, when things go unchallenged, they seem normal. After centuries of slavery, black people must realize that they need to work toward building generational wealth and learn to invest their money and establish Trust funds for their wealth that can be passed down to future generations.
Could Artificial Intelligence Have The Answer To America's Coronavirus Economic Woes?
GERMAN ZOO SAYS IT MAY HAVE TO FEED ANIMALS TO OTHERS DUE TO CORONAVIRUS CRISIS
Neumünster Zoo in northern Germany belongs to an association and is not entitled to financial relief from the county's state emergency fund for small businesses, the BBC reported. The zoo's director Verena Kaspari told German newspaper Die Welt that the zoo—which is home to more than 700 animals including polar bears, seals, and alpacas—will lose out on an estimated $190,000 (€175,000) in income this spring.
Chinese tourists are opting out of travel to the US in favor of the rest of the world
Since the start of the trade war, however, Chinese tourism to the US is down by more than 8%. The number of Chinese visitors stateside is waning—due to geopolitical pressures, a strong dollar, and the seductive call of the rest of the world.
NYC has a penthouse problem, LA has a mansion problem, and Miami has a condo problem
Long a city for vacation homes and foreign buyers seeking safe investments, Miami is now faced with a surplus of condos, reported Candace Taylor for The Wall Street Journal. Its high-end real-estate market has slowed in recent years, with condo sales in Miami Beach decreasing by 24% over the past four years, she said.
The condo craze began in the early 2000s, Taylor reported. The market imploded during the financial crisis, but Latin American buyers — along with buyers from Europe and America — brought it back to life post-recession.
But what were once strong South American economies are now suffering, and Latin American buyers have less buying power in the US, according to Taylor. Their disappearance isn't the only factor driving the abundance of empty condos — the threat of rising sea levels and the preference for large houses are also shaping the trend, she said.
This is why America's travel business is worried
Last year set a record for tourism: 78.6 million foreign travelers came to the United States in 2018. But following that banner year, tourism is now in a slump. Travel in early 2019 is in decline, particularly from Canada, Mexico, China and South Korea. That slowdown started taking place in the second half of last year.
The travel industry is worried about how severe, and long lasting, that decline could be.
Tourism is a serious economic driver for the American economy. The United States enjoyed a $69 billion surplus on international travel last year, reducing the country's overall trade deficit by 11%, according to Tori Barnes, executive vice president of the US Travel Association, the industry trade group. On average,foreign travelers spend $4,000 each on visits to the United States. Chinese tourists spend about $7,000.
"It's a really significant economic impact," said Barnes.
Companies that rely on foreign tourism are starting to feel the decline in travel: For example, Tiffany's reported disappointing sales this week, in part because of a drop in purchases by foreign tourists at its US stores.
American Airlines responds to rapper Boosie's profane rant after missing flight
Another tourist dies in Dominican Republic
Your House Should Not Be Your Retirement Plan
“You can’t eat your house a sandwich at a time,” she says.
YOUNG PEOPLE ARE CHOOSING TO LIVE IN “PODS” INSTEAD OF APARTMENTS
Now, some are pushing the sharing economy to its logical conclusion: NPR reports that young people in Los Angeles — and other cities around the country — are choosing to rent small pods instead of an apartment.
Through a service called PodShare, young people are giving up the comfort of a private home for a bunk bed with shared kitchen and bathroom facilities.
The Affluent Homeless: A Sleeping Pod, A Hired Desk And A Handful Of Clothes
Forget That Social Security Increase, Seniors Are in Trouble. Here’s Why.
While welcome, it’s necessary to remember that the increase is tied to inflation. Higher payouts will simply enable retirees to keep up with the rising cost of living. It doesn’t mean that anyone’s standard of living will go up—as if an extra $1.28 a day will do much in the first place. Think of a treadmill: You’re not going anywhere.
In fact, retirees and those who are eyeing retirement risk going in a different direction: backward. A study by the Schwartz Center for Economic Policy Analysis at the New School finds that about 40% of middle-class Americans will live close to or in poverty by the time they reach age 65. “Golden years?” For millions, it’s doubtful.
