The Global Housing Market is Broken, and It’s Dividing Entire Countries

Soaring property prices are forcing people all over the world to abandon all hope of owning a home. The fallout is shaking governments of all political persuasions.

It’s a phenomenon given wings by the pandemic. And it’s not just buyers — rents are also soaring in many cities. The upshot is the perennial issue of housing costs has become one of acute housing inequality, and an entire generation is at risk of being left behind.

“We’re witnessing sections of society being shut out of parts of our city because they can no longer afford apartments,” Berlin Mayor Michael Mueller says. “That’s the case in London, in Paris, in Rome, and now unfortunately increasingly in Berlin.”

That exclusion is rapidly making housing a new fault line in politics, one with unpredictable repercussions. The leader of Germany’s Ver.di union called rent the 21st century equivalent of the bread price, the historic trigger for social unrest.

Politicians are throwing all sorts of ideas at the problem, from rent caps to special taxes on landlords, nationalizing private property, or turning vacant offices into housing. Nowhere is there evidence of an easy or sustainable fix.

In South Korea, President Moon Jae-in’s party took a drubbing in mayoral elections this year after failing to tackle a 90% rise in the average price of an apartment in Seoul since he took office in May 2017. The leading opposition candidate for next year’s presidential vote has warned of a potential housing market collapse as interest rates rise.

China has stepped up restrictions on the real-estate sector this year and speculation is mounting of a property tax to bring down prices. The cost of an apartment in Shenzhen, China’s answer to Silicon Valley, was equal to 43.5 times a resident’s average salary as of July, a disparity that helps explain President Xi Jinping’s drive for “common prosperity.”

In Canada, Prime Minister Justin Trudeau has promised a two-year ban on foreign buyers if re-elected.

The pandemic has stoked the global housing market to fresh records over the past 18 months through a confluence of ultralow interest rates, a dearth of house production, shifts in family spending and fewer homes being put up for sale. While that’s a boon for existing owners, prospective buyers are finding it ever harder to gain entry.

What we’re witnessing is “a major event that should not be shrugged off or ignored,” Don Layton, the former CEO of U.S. mortgage giant Freddie Mac, wrote in a commentary for the Joint Center for Housing Studies of Harvard University.

In the U.S., where nominal home prices are more than 30% above their previous peaks in the mid-2000s, government policies aimed at improving affordability and promoting home ownership risk stoking prices, leaving first-time buyers further adrift, Layton said.

The result, in America as elsewhere, is a widening generational gap between baby boomers, who are statistically more likely to own a home, and millennials and Generation Z — who are watching their dreams of buying one go up in smoke.

Existing housing debt may be sowing the seeds of the next economic crunch if borrowing costs start to rise. Niraj Shah of Bloomberg Economics compiled a dashboard of countries most at threat of a real-estate bubble, and says risk gauges are “flashing warnings” at an intensity not seen since the run-up to the 2008 financial crisis.

In the search for solutions, governments must try and avoid penalizing either renters or homeowners. It’s an unenviable task.

Sweden’s government collapsed in June after it proposed changes that would have abandoned traditional controls and allowed more rents to be set by the market.

In Berlin, an attempt to tame rent increases was overturned by a court. Campaigners have collected enough signatures to force a referendum on seizing property from large private landlords. The motion goes to a vote on Sept. 26. The city government on Friday announced it would buy nearly 15,000 apartments from two large corporate landlords for €2.46 billion ($2.9 billion) to expand supply.

Anthony Breach at the Center for Cities think tank has even made the case for a link between housing and Britain’s 2016 vote to quit the European Union. Housing inequality, he concluded, is “scrambling our politics.”

As these stories from around the world show, that’s a recipe for upheaval.

Argentina

With annual inflation running around 50%, Argentines are no strangers to price increases. But for Buenos Aires residents like Lucia Cholakian, rent hikes are adding economic pressure, and with that political disaffection.

Like many during the pandemic, the 28-year-old writer and college professor moved with her partner from a downtown apartment to a residential neighborhood in search of more space. In the year since, her rent has more than tripled; together with bills it chews through about 40% of her income. That rules out saving for a home.

“We’re not going to be able to plan for the future like our parents did, with the dream of your own house,” she says. The upshot is “renting, buying and property in general” is becoming “much more present for our generation politically.”

Legislation passed by President Alberto Fernandez’s coalition aims to give greater rights to tenants like Cholakian. Under the new rules, contracts that were traditionally two years are now extended to three. And rather than landlords setting prices, the central bank created an index that determines how much rent goes up in the second and third year.

It’s proved hugely controversial, with evidence of some property owners raising prices excessively early on to counter the uncertainty of regulated increases later. Others are simply taking properties off the market. A government-decreed pandemic rent freeze exacerbated the squeeze.

Rental apartment listings in Buenos Aires city are down 12% this year compared to the average in 2019, and in the surrounding metro area they’re down 36%, according to real estate website ZonaProp.

The law “had good intentions but worsened the issue, as much for property owners as for tenants,” said Maria Eugenia Vidal, the former governor of Buenos Aires province and one of the main opposition figures in the city. She is contesting the November midterm elections on a ticket with economist Martin Tetaz with a pledge to repeal the legislation.

“Argentina is a country of uncertainty,” Tetaz said by phone, but with the housing rules it’s “even more uncertain now than before.”

Cholakian, who voted for Fernandez in 2019, acknowledges the rental reform is flawed, but also supports handing more power to tenants after an extended recession that wiped out incomes. If anything, she says greater regulation is needed to strike a balance between reassuring landlords and making rent affordable.

“If they don’t do something to control this in the city of Buenos Aires, only the rich will be left,” she says.

Australia

As the son of first-generation migrants from Romania, Alex Fagarasan should be living the Australian dream. Instead, he’s questioning his long-term prospects.

Fagarasan, a 28-year-old junior doctor at a major metropolitan hospital, would prefer to stay in Melbourne, close to his parents. But he’s being priced out of his city. He’s now facing the reality that he’ll have to move to a regional town to get a foothold in the property market. Then, all going well, in another eight years he’ll be a specialist and able to buy a house in Melbourne.

Even so, he knows he’s one of the lucky ones. His friends who aren’t doctors “have no chance” of ever owning a home. “My generation will be the first one in Australia that will be renting for the rest of their lives,” he says.

He currently rents a modern two-bedroom townhouse with two others in the inner suburb of Northcote — a study nook has been turned into a make-shift bedroom to keep down costs. About 30% of his salary is spent on rent; he calls it “exorbitant.”

Prime Minister Scott Morrison’s conservative government announced a “comprehensive housing affordability plan” as part of the 2017-2018 budget, including 1 billion Australian dollars ($728 million) to boost supply. It hasn’t tamed prices.

The opposition Labour Party hasn’t fared much better. It proposed closing a lucrative tax loophole for residential investment at the last election in 2019, a policy that would likely have brought down home prices. But it sparked an exodus back to the ruling Liberals of voters who owned their home, and probably contributed to Labor’s election loss.

The political lessons have been learned: Fagarasan doesn’t see much help on housing coming from whoever wins next year’s federal election. After all, Labor already rules the state of Victoria whose capital is Melbourne.

“I feel like neither of the main parties represents the voice of the younger generation,” he says.

It’s a sentiment shared by Ben Matthews, a 33-year-old project manager at a university in Sydney. He’s moving back in with his parents after the landlord of the house he shared with three others ordered them out, an experience he says he found disappointing and stressful, especially during the pandemic.

Staying with his parents will at least help him save for a deposit on a one-bedroom flat. But even that’s a downgrade from his original plan of a two-bedroom house so he could rent the other room out. The increases, he says, are “just insane.”

“It might not be until something breaks that we’ll get the political impetus to make changes,” he says. -Jason Scott

Canada

Days after calling an election, Justin Trudeau announced plans for a two-year ban on foreigners buying houses. If it was meant as a dramatic intervention to blind-side his rivals, it failed: they broadly agree.

The prime minister thought he was going to fight the election — set for Monday — on the back of his handling of the pandemic, but instead housing costs are a dominant theme for all parties.

Trudeau’s Liberals are promising a review of “escalating” prices in markets including Vancouver and Toronto to clamp down on speculation; Conservative challenger Erin O’Toole pledges to build a million homes in three years to tackle the “housing crisis”; New Democratic Party leader Jagmeet Singh wants a 20% tax on foreign buyers to combat a crisis he calls “out of hand.”

Facing a surprisingly tight race, Trudeau needs to attract young urban voters if he is to have any chance of regaining his majority. He chose Hamilton, outside Toronto, to launch his housing policy. Once considered an affordable place in the Greater Toronto Area, it’s faced rising pressure as people leave Canada’s biggest city in search of cheaper homes. The average single family home cost 932,700 Canadian dollars ($730,700) in June, a 30% increase from a year earlier, according to the Realtors Association of Hamilton and Burlington.

The City of Hamilton cites housing affordability among its priorities for the federal election, but that’s little comfort to Sarah Wardroper, a 32-year-old single mother of two young girls, who works part time and rents in the downtown east side. Hamilton, she says, represents “one of the worst housing crises in Canada.”

While she applauds promises to make it harder for foreigners to buy investment properties she’s skeptical of measures that might discourage homeowners from renting out their properties. That includes Trudeau’s bid to tax those who sell within 12 months of a house purchase. Neither is she convinced by plans for more affordable housing, seeing them as worthy but essentially a short-term fix when the real issue is “the economy is just so out of control the cost of living in general has skyrocketed.”

Wardroper says her traditionally lower-income community has become a luxury Toronto neighborhood.

“I don’t have the kind of job to buy a house, but I have the ambition and the drive to do that,” she says. “I want to build a future for my kids. I want them to be able to buy homes, but the way things are going right now, I don’t think that’s going to be possible.”

Singapore

Back in 2011, a public uproar over the city-state’s surging home prices contributed to what was at the time the ruling party’s worst parliamentary election result in more than five decades in power. While the People’s Action Party retained the vast majority of the seats in parliament, it was a wake-up call — and there are signs the pressure is building again.

Private home prices have risen the most in two years, and in the first half of 2021 buyers including ultra-rich foreigners splurged 32.9 billion Singapore dollars ($24 billion), according to Singapore-based ERA Realty Network Pte Ltd. That’s double the amount recorded in Manhattan over the same period.

However, close to 80% of Singapore’s citizens live in public housing, which the government has long promoted as an asset they can sell to move up in life.

It’s a model that has attracted attention from countries including China, but one that is under pressure amid a frenzy in the resale market. Singapore’s government-built homes bear little resemblance to low-income urban concentrations elsewhere: In the first five months of the year, a record 87 public apartments were resold for at least SG$1 million. That’s stirring concerns about affordability even among the relatively affluent.

Junior banker Alex Ting, 25, is forgoing newly built public housing as it typically means a three-to-four-year wait. And under government rules for singles, Ting can only buy a public apartment when he turns 35 anyway.

His dream home is a resale flat near his parents. But even there a mismatch between supply and demand could push his dream out of reach.

While the government has imposed curbs on second-home owners and foreign buyers, younger people like Ting have grown resigned to the limits of what can be done.

Most Singaporeans aspire to own their own property, and the housing scarcity and surge in prices presents another hurdle to them realizing their goal, says Nydia Ngiow, Singapore-based senior director at BowerGroupAsia, a strategic policy advisory firm. If unaddressed, that challenge “may in turn build long-term resentment towards the ruling party,” she warns.

That’s an uncomfortable prospect for the PAP, even as the opposition faces barriers to winning parliamentary seats. The ruling party is already under scrutiny for a disrupted leadership succession plan, and housing costs may add to the pressure.

Younger voters may express their discontent by moving away from the PAP, according to Ting. “In Singapore, the only form of protest we can do is to vote for the opposition,” he says.

Ireland

Claire Kerrane is open about the role of housing in her winning a seat in Ireland’s parliament, the Dail.

Kerrane, 29, was one of a slew of Sinn Fein lawmakers to enter the Dail last year after the party unexpectedly won the largest number of first preference votes at the expense of Ireland’s dominant political forces, Fine Gael and Fianna Fail.

While the two main parties went on to form a coalition government, the outcome was a political earthquake. Sinn Fein was formerly the political wing of the Irish Republican Army, yet it’s been winning followers more for its housing policy than its push for a united Ireland.

“Housing was definitely a key issue in the election and I think our policies and ambition for housing played a role in our election success,” says Kerrane, who represents the parliamentary district of Roscommon-Galway.

Ireland still bears the scars of a crash triggered by a housing bubble that burst during the financial crisis. A shortage of affordable homes means prices are again marching higher.

Sinn Fein has proposed building 100,000 social and affordable homes, the reintroduction of a pandemic ban on evictions and rent increases, and legislation to limit the rate banks can charge for mortgages.

Those policies have struck a chord. The most recent Irish Times Ipsos MRBI poll, in June, showed Sinn Fein leading all other parties, with 21% of respondents citing house prices as the issue most likely to influence their vote in the next general election, the same proportion that cited the economy. Only health care trumped housing as a concern.

Other parties are taking note. On Sept. 2, the coalition launched a housing plan as the pillar of its agenda for this parliamentary term, committing over €4 billion ($4.7 billion) a year to increase supply, the highest-ever level of government investment in social and affordable housing.

Whether it’s enough to blunt Sinn Fein’s popularity remains to be seen. North of the border, meanwhile, Sinn Fein holds a consistent poll lead ahead of elections to the Northern Ireland Assembly due by May, putting it on course to nominate the region’s First Minister for the first time since the legislature was established as part of the Good Friday peace agreement of 1998.

For all the many hurdles that remain to reunification, Sinn Fein is arguably closer than it has ever been to achieving its founding goal by championing efforts to widen access to housing.

As Kerrane says: “Few, if any households aren’t affected in some way by the housing crisis.”

By Alan Crawford

Source: https://www.japantimes.co.jp/

Real estate prices in Adriatic Coast up, Zagreb down

House price dynamics and their reaction to macroeconomic changes

“Home – SecurityNational Mortgage Company

Affordable Housing Real Estate Resource: Housing Affordability Index

10th Annual Demographia International Housing Affordability Survey

From the subprime to the terrigenous: Recession begins at home

The French housing market and its environment since 1800

What happens when real estate bubbles pop

Underwater mortgages back above 11 million in 4Q

The ups and downs of the real estate market and its relations with the rest of the economy in China

Tax Break May Have Helped Cause Housing Bubble

Wall Street and the Housing Bubble, Princeton University

Best communities in Canada: Why Atlantic Canada comes out on top

Liberals need a plan to tackle housing – or they risk alienating young Canadians

Investors account for a fifth of home purchases in Canada. Are they driving up housing prices in a booming market

Canada Tried To Stop Real Estate Prices From Falling, And Created A Bigger Bubble

BOC Governor Says Canada Will Lean On Real Estate Because “We Need The Growth

Real estate slowdown ahead; The Oracle of Omaha expects the housing market to see

Surviving a Real-Estate Slowdown: A ‘Loud Pop’ Is Coming, But Mr. Heebner Sees Harm Limited to Inflated Regions

Hard edge of a soft landing for housing

Recession will be nasty and deep, economist says

Housing Slump Proves Painful For Some Owners and Builders: ‘Hard Landing’ on the Coasts Jolts Those Who Must Sell

Europe Faces Bleak Winter Energy Crisis Years in the Making

 
Europe is preparing for an extreme winter as an energy emergency that has been a very long time in the making leaves the landmass depending on the ideas of the weather.Faced with flooding gas and power costs, nations from the U.K. to Germany should rely on gentle temperatures to traverse the warming season. Europe is shy of gas and coal and if the breeze doesn’t blow, the most dire outcome imaginable could work out: far and wide power outages that power organizations and plants to shut.

The extraordinary energy crunch has been fermenting for quite a long time, with Europe developing progressively reliant upon discontinuous wellsprings of energy like breeze and sun based while interests in petroleum products declined. Natural strategy has likewise pushed a few nations to close their coal and atomic armadas, decreasing the quantity of force establishes that could fill in as back-up in the midst of shortages.

“It could get very ugly unless we act quickly to try to fill every inch of storage,” said Marco Alvera, CEO of Italian energy framework organization Snam SpA. “You can survive a week without electricity, but you can’t survive without gas.”

Energy request is ascending from the U.S. to Europe and Asia as economies recuperate from the worldwide pandemic, boosting modern movement and powering worries about swelling. Costs are so high in Europe that two significant compost makers reported they were closing plants or shortening creation in the region.

And it’s not simply organizations. Governments are additionally worried about the hit to families previously battling with greater expenses of everything from food to move. As force and gas costs break records for a long time, Spain, Italy, Greece and France are largely stepping in to shield shoppers from inflation.

“It will be expensive for consumers, it will be expensive for big energy users,” Dermot Nolan, a previous CEO of U.K. energy controller Of gem, said in a Bloomberg TV meet. “Electricity and gas prices are going to be higher at home than everybody would want and they are going to be higher than they have been for about 12 years.”

Europe’s gas costs have dramatically multiplied for the current year as top provider Russia has been checking the extra conveyances the landmass needs to top off its exhausted stockpiling locales following a virus winter last year. It’s been difficult to get hold of elective supplies, with North Sea fields going through weighty support after pandemic-instigated postponements, and Asia gathering up cargoes of condensed gaseous petrol to fulfill rising need there.

Higher gas costs helped the expense of creating power as renewables wavered. Low wind speeds constrained European utilities to consume costly coal, draining stores of the dirtiest of petroleum products. Energy strategy additionally assumed a part, with the expense of contaminating in the European Union flooding over 80% this year.

“Gas supply is short, coal supply is short and renewables aren’t going great, so we are now in this crazy situation,” said Dale Hazelton, head of warm coal at Wood Mackenzie Ltd. “Coal companies just don’t have supply available, they can’t get the equipment, the manufacturers are backed up and they don’t really want to invest.”

European gas inventories are at their most minimal level in over 10 years for this season. Gazprom PJSC’s CEO Alexey Miller said Europe will enter the colder time of year in with regards to a month without completely renewing its support reserves. The Russian gas monster has been pushing to begin its questionable Nord Stream 2 pipeline.

Europe now needs great climate. While forecasters say temperatures are probably not going to plunge beneath typical one month from now, assumptions can generally change. Comparable climate gauges didn’t appear last year, bringing about an unpleasant temperatures that sent LNG costs in Asia to a record in January.

“It may happen again,” said Ogan Kose, an overseeing chief at Accenture. “If we end up having a very cold winter in Asia as well as in Europe, then we may end up seeing a ridiculous spike in gas prices.”

In 2018, a profound freeze that became known as the Beast from the East shocked energy brokers. This year there’s additionally a possibility that a La Nina climate example would grow once more. While the wonder can carry warm climate to Europe, it will in general send temperatures diving in Asia.

The U.S. Environment Prediction Center said there’s a 66% possibility that a La Nina example will return some time from November to January. That could fuel the battle for LNG cargoes, as purchasers from Japan to India start alarm purchasing because of fears of rivalry with Europe.

“Unfortunately, the way the weather works, when it’s cold, it is cold: it’s cold for the U.S., it’s cold for Europe and then it gets cold for Asia,” said Snam’s Alvera, who is wagering on hydrogen as the future for efficient power energy markets.

Europe should diminish request if the colder time of year is cold, Goldman Sachs Group Inc. said, anticipating the district will confront power outages. There are as of now indications of stress, with CF Industries Holdings Inc. closing two compost plants in the U.K. furthermore, Yara International ASA will have diminished its smelling salts creation limit by 40% by next week.

Shutdowns additionally hazard hitting the food store network, which utilizes a side-effect of compost creation in everything from meat handling to brew. The sugar and starch businesses are likewise influenced, with France’s Tereos SCA and Roquette Freres SA cautioning of higher energy costs.

And it doesn’t stop there. Europe top copper maker Aurubis AG said greater costs will keep on getting edges through the remainder of the year. Indeed, even synthetic compounds goliath BASF SE, which delivers the greater part of its force, said it has been not able to completely turn the effect of record-breaking power prices.

Supplies are probably not going to improve altogether any time soon. Russia is confronting its very own energy smash and Gazprom is guiding its extra creation to homegrown inventories. Costs could remain high regardless of whether Europe winds up with a gentle winter, said Fabian Ronningen, an expert at energy specialist Rystad Energy AS.

“With natural gas prices already hitting record highs in Europe ahead of rising winter demand, prices could move even higher in the coming months,” said Stacey Morris, overseer of exploration at file supplier Alerian in Dallas. “There is a potential it can get worse.”

Source: Europe Faces Bleak Winter Energy Crisis Years in the Making – Bloomberg

.

Related Contents:

Behind Oil Price Rise: Peak Oil or Wall Street Speculation

The humanitarian impact of Gaza’s electricity and fuel crisis

Systematic Monetary Policy and the Effects of Oil Price Shocks

Bloomberg New Energy Finance, UNEP SEFI, Frankfurt School, Global Trends in Renewable Energy Investment

Essay on Energy Crisis

Musharraf for emergency measures to overcome energy crisis

Pakistan’s PM announces energy policy to tackle crisis

Energy crisis upsets platinum market

Coal shortage has China living on the edge

China’s Guangdong faces severe power shortage

TABLE-China power shortage forecasts by region

Worldwide energy shortages

Long-term interest rate statistics for EU Member States

Understanding the Political Economy of the Eurozone Crisis

It’s All Connected: A Spectators Guide to the Euro Crisis

EU leaders reach a deal to tackle debt crisis

Greece debt crisis: Markets dive on Greek referendum

Banks Retrench in Europe While Keeping Up Appearances” (limited no-charge access

Media Coverage of the 2010 Greek Debt Crisis: Inaccuracies and Evidence of Manipulation

Swiss Pledge Unlimited Currency Purchases

Crisis in Euro-zone—Next Phase of Global Economic Turmoil

Cuts to Debt Rating Stir Anxiety in Europe

Seasonally adjusted youth unemployment rate

The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts – Special Paper No. 25

Census Figures Show Americans’ Incomes Fell in 2020

Americans last year saw their first significant decline in household income in nearly a decade, government data showed, with economic pain from the Covid-19 pandemic prompting government aid that helped keep millions from falling into poverty.

An annual assessment of the nation’s financial well-being, released Tuesday by the Census Bureau, offered insight into how households fared during the pandemic’s first year. It arrives as Washington debates how much more to spend to bolster the economy during the worst public-health crisis in a century.

Median household income was about $67,500 in 2020, down 2.9% from the prior year, when it hit an inflation-adjusted historical high. It came as the U.S. last year saw millions lose their jobs and national unemployment soar from a 50-year low to a high of 14.8%.

The last time median household income fell significantly was 2011, in the aftermath of the 2007-09 recession.

The Census Bureau’s top-line income figure includes unemployment benefits but doesn’t account for income and payroll taxes nor stimulus checks or other noncash benefits like federal food programs. If those had been counted, the median household income would have risen 4% to $62,773.

As was the case with the income measure, the report offered conflicting takes on poverty trends because of differing definitions and approaches to the topic.

The bureau said the traditional poverty rate in 2020 was 11.4%, an increase of 1 percentage point from 2019 and the first increase after five consecutive years of declines. That translated to 37.2 million people in poverty, an increase of 3.3 million from 2019. For a four-person household, the threshold for meeting the definition of poverty was about $26,000 in 2020.

The official poverty measure doesn’t reflect how much a household pays in taxes, and it also omits noncash government aid like tax credits, housing subsidies and free school lunches. A broader poverty measure that accounts for such expenses and income actually fell last year to 9.1%, down 2.6 percentage points from 2019.

The decrease, coinciding with an increase in the official poverty rate, highlighted the role of the government safety net, which was expanded during the pandemic. The two poverty yardsticks have tracked closely for a decade, but last year was the first time that the supplemental measure dropped below the official measure.

Without the first two rounds of stimulus checks issued last year, the broader poverty measure would have risen by almost a percentage point instead of dropping, the bureau said.

Specifically, stimulus checks moved 11.7 million people above the poverty threshold if their effect was calculated alone. In the same manner, expanded unemployment programs did so for 5.5 million people. Refundable tax credits, such as the earned-income tax credit, did so for 5.3 million people. The Social Security program, however, remained the largest safety net program, lifting 26.5 million people above the poverty line.

“The increase in poverty would have been even larger if it were not for the ample fiscal support provided over the past year,” said Shannon Seery, an economist at Wells Fargo & Co.

After continued direct federal payments made to households in 2021 and enhanced unemployment benefits that expired in early September, Ms. Seery said, an improving unemployment picture should help households.

“With a robust demand for labor, exhibited by the record 10.9 million job openings in July, and average hourly earnings rising across industries, the current environment should help lure workers back to the job site,” she said.

The bureau also said Tuesday the proportion of Americans without health insurance for all of 2020 was 8.6%, essentially unchanged from 2018. About 28 million Americans lacked health insurance, according to the survey.

Median earnings in 2020 of those who worked full time, year-round increased 6.9% from 2019. The 2020 female-to-male earnings ratio was 83%, essentially unchanged from the previous year.

The distribution of incomes changed little. The top fifth of households—with incomes above $141,100—collected 52.2% of household income, while the top 5% alone—with incomes above $273,700—collected 23%. The bureau reported that the income shares collected by the lowest groups dropped slightly. The lowest fifth of households—making less than $27,000—collected 3%, down from 3.1% in 2019. The second fifth—with incomes from $27,000 to $52,000—collected 8.1%, down from 8.3% in 2019.

In 2020, median household incomes decreased 3.2% in the Midwest and 2.3% in the South and West, the bureau said. The change in the Northeast between 2019 and 2020 wasn’t statistically significant.

Median incomes were highest in the Northeast ($75,211) and the West ($74,951), followed by the Midwest ($66,968) and the South ($61,243). Households with the lowest levels of educational attainment logged the greatest declines in their incomes. For those headed by someone without a high school diploma, incomes dropped 5.7%, while those headed by someone with some college education or a bachelor’s degree or higher recorded a 2.8% decline.

The road ahead for the U.S. economy looks more uncertain than earlier in 2021. In recent weeks, growing evidence has built of lost momentum as Covid-19 cases rose again. Supply-chain challenges and a lack of workers for lower-paying jobs also are weighing on economic growth.

Rocky Smith Jr., a 41-year-old union worker who cuts metal parts down to size after they exit a furnace, said things are looking up for his family of four in Muskegon, Mich. After being laid off in April 2020, he said, he wasn’t hired back until July 2021.

Mr. Smith said he is now making more than $20 an hour at his full-time job. His wife, he said, resumed working during his unemployment and the family skipped meals out and other luxuries.

“We rolled with the punches,” said Mr. Smith, a former boxer. “Life hit us, but we made it work.”

By: John McCormick and Paul Overberg

Source: Census Figures Show Americans’ Incomes Fell in 2020 – WSJ

.

Related Contents:

Real Median Personal Income in the United States

Gross Domestic Product – U.S. Bureau of Economic Analysis (BEA)

Unemployment rates and earnings by educational attainment

What’s It Worth?: The Economic Value of College Majors

Income, Poverty, and Health Insurance Coverage in the United States

U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income

The Top 25 Hedge Fund Earners In 2010

Years of School Completed–People 25 Years Old and Over by Median Income and Sex

Household Income Percentile Calculator

You call this a meritocracy? Why rich inheritance is poisoning the American economy

The ‘Self-Made’ Hallucination of America’s Rich

Fear of Falling, The Inner Life of the Middle Class

New York Times quote, households with incomes of over 1.6 million

America Is the Richest, and Most Unequal, Country

Free exchange: The real wealth of nations

Tax Data Show Richest 1 Percent Took a Hit in 2008, But Income Remained Highly Concentrated at the Top

The New York Times, Richest Are Leaving Even the Rich Far Behind

Summary Results, Public Date, Estimates inflation-adjusted to 2013 dollars

Summary Results, Public Date, Estimates inflation-adjusted to 2013 dollars

US Department of Labor, median income of Software Publishers

A Journey Through the American Wealth Boom and the Lives of the New Rich

Americans Underestimate U.S. Wealth Inequality

15 Mind-Blowing Facts About Wealth And Inequality In America

Scientists Figured Out How Much Exercise You Need to ‘Offset’ a Day of Sitting

We know that spending hour after hour sitting down isn’t good for us, but just how much exercise is needed to counteract the negative health impact of a day at a desk? A 2020 study suggests about 30-40 minutes per day of building up a sweat should do it.

Up to 40 minutes of “moderate to vigorous intensity physical activity” every day is about the right amount to balance out 10 hours of sitting still, the research says – although any amount of exercise or even just standing up helps to some extent.

That’s based on a meta-analysis across nine previous studies, involving a total of 44,370 people in four different countries who were wearing some form of fitness tracker.

The analysis found the risk of death among those with a more sedentary lifestyle went up as time spent engaging in moderate-to-vigorous intensity physical activity went down.

“In active individuals doing about 30-40 minutes of moderate to vigorous intensity physical activity, the association between high sedentary time and risk of death is not significantly different from those with low amounts of sedentary time,” the researchers wrote in the British Journal of Sports Medicine (BJSM) in 2020.

In other words, putting in some reasonably intensive activities – cycling, brisk walking, gardening – can lower your risk of an earlier death right back down to what it would be if you weren’t doing all that sitting around, to the extent that this link can be seen in the amassed data of many thousands of people.

While meta-analyses like this one always require some elaborate dot-joining across separate studies with different volunteers, timescales, and conditions, the benefit of this particular piece of research is that it relied on relatively objective data from wearables – not data self-reported by the participants.

The study was published alongside the release of the World Health Organization 2020 Global Guidelines on Physical Activity and Sedentary Behavior, put together by 40 scientists across six continents. In fact, in November 2020 BJSM put out a special edition to carry both the new study and the new guidelines.

“These guidelines are very timely, given that we are in the middle of a global pandemic, which has confined people indoors for long periods and encouraged an increase in sedentary behavior,” said physical activity and population health researcher Emmanuel Stamatakis from the University of Sydney in Australia.

“People can still protect their health and offset the harmful effects of physical inactivity,” says Stamatakis, who wasn’t involved in the meta-analysis but is the co-editor of the BJSM. “As these guidelines emphasize, all physical activity counts and any amount of it is better than none.”

The research based on fitness trackers is broadly in line with the new WHO guidelines, which recommend 150-300 mins of moderate intensity or 75-150 mins of vigorous-intensity physical activity every week to counter sedentary behavior.

Walking up the stairs instead of taking the lift, playing with children and pets, taking part in yoga or dancing, doing household chores, walking, and cycling are all put forward as ways in which people can be more active – and if you can’t manage the 30-40 minutes right away, the researchers say, start off small.

Making recommendations across all ages and body types is tricky, though the 40 minute time frame for activity fits in with previous research. As more data are published, we should learn more about how to stay healthy even if we have to spend extended periods of time at a desk.

“Although the new guidelines reflect the best available science, there are still some gaps in our knowledge,” said Stamatakis.

“We are still not clear, for example, where exactly the bar for ‘too much sitting’ is. But this is a fast-paced field of research, and we will hopefully have answers in a few years’ time.”

The research was published here, and the WHO guidelines here, in the British Journal of Sports Medicine.

By: David Nield

Source: Scientists Figured Out How Much Exercise You Need to ‘Offset’ a Day of Sitting

.

Related Contents:

28 Bodyweight Exercises that Build Serious Muscle

Effects of Body-weight Squat Training on Muscular Size, Strength and Balance Ability in Physically Frail Older Adults

Growing stronger: Strength training for older adults

Physical activity for older adults

President’s Council on Physical Fitness and Sports Definitions for Health

Exercise for Your Bone Health

Participation in Sport and Physical Recreation

Physical Activity Guidelines for Americans 2nd edition

Effects of 16-week high-intensity interval training using upper and lower body ergometers on aerobic fitness and morphological changes in healthy men: a preliminary study

Enlist : Army Physical Fitness Test

High-intensity interval training to maximize cardiac benefits of exercise training

Exercise: A Drug-free Approach to Lowering High Blood Pressure

Physical activity, exercise, and inflammatory markers in older adults: findings from the Health

Fitness Tips for Menopause: Why fitness counts

Depression and anxiety: exercise eases symptoms

Benefits of Physical Activity

The Complete Idiot’s Guide to Weight Training

Exercise as a novel treatment for drug addiction

Exercise and Mental Health: Many Reasons to Move

Optimal Load for Increasing Muscle Power During Explosive Resistance Training in Older Adults

Exercise, Inflammation and Aging

American Heart Association Recommendations for Physical Activity in Adults

Teens Moms Say the Pandemic Has Made School a Huge Challenge

Like thousands of high schoolers around the country, 17-year-old Olivia Gehling graduated from high school after almost a year of remote learning. But she also finished her senior year while taking care of her now 18-month-old daughter, Lovelyn.

Olivia plans to attend real estate–license school in-person this fall to obtain her Realtor’s license, something she had been wanting to do even before her pregnancy. Going back to school in-person presents a different set of challenges for teen moms than what other students are facing. For Olivia, Lovelyn is a critical part of her decision-making process, specifically because of childcare. Once classes get started, she will be in school from 8 a.m. to 5 p.m. Her boyfriend and Lovelyn’s father, Cole Burge, will also be in Realtor school with her, meaning the teen parents will have to figure out their childcare plans for their daughter.

“To be honest, I don’t have a set plan. I know I won’t send her to day care because it’s just so expensive here in Ames, [Iowa], and the wait lists are insane. But I think my mom, my grandma, and maybe Cole’s mom—whoever can help will totally help us,” Olivia tells Teen Vogue.

In Queen Creek, Arizona, Angelise Torres, an 18-year-old mom, has the same concerns. Angelise graduated in her high school’s class of 2021 when her daughter Aria was five months old, and has since applied to college, hoping to study pediatric nursing or dermatology. Like Olivia, Angelise isn’t planning on sending Aria to day care. “Different family members will probably be watching her; maybe my little sister—I don’t know. When she’s old enough for preschool, she’ll be in preschool,” says Angelise.

According to Nicole Lynn Lewis, founder of Generation Hope, childcare is a problem exacerbated by the COVID-19 pandemic. Lewis founded Generation Hope in 2010 with the goal of helping more teen parents get a college education. She says that this past year, around 30% of teen parents in the Generation Hope program have been without childcare.

“Sometimes you make the assumption that, hey, online courses means you don’t need childcare. But it’s very hard to concentrate when you have a little one at home,” says Lewis. “They’ve had to be really creative in how [they can] still work and go to school when [they] don’t have childcare in place, whether it’s, ‘I’m bouncing my baby while I’m trying to engage in class’ or ‘I’m going to study all night long while my baby sleeps.’”

Lewis stresses that childcare isn’t the only factor in teen moms’ decisions about returning to in-person school. Many are providing for their family, despite being in school full-time.

While Olivia was pregnant, she worked as a lifeguard to make sure that she was able to financially provide for her future daughter. Currently she works four jobs, which she plans to continue into the fall. She runs a photography and videography business, cleans houses, manages her TikTok and Instagram accounts, and is starting a luxury picnic business. Despite her busy schedule, Olivia remains firm in her decision to go to school in-person next fall.

“I thought it would be difficult to kind of do it online with all these jobs, and then being a mom on top of it. It’s superhard to get anything done when she’s awake, because she just gets into everything. I think it would just be really hard to even focus,” says Olivia.

Angelise agrees. When the pandemic hit in her senior year, her high school went completely virtual, and she was taking four classes online. “It was really hard to study with Aria, because she plays with my paper—she’ll crumble it, she’ll cry when I’m not with her, just stuff like that. By the end of the year, I was doing extra work to catch up and make sure I was ready to graduate,” she says. Because of her experiences with online school, she plans on attending college in a hybrid model, going both in-person and online.

Maddie Lambert, an 18-year-old mom, has opted to get her General Educational Development (GED), or high school equivalency diploma, rather than trying to complete a traditional high school education. Maddie got pregnant with Evelyn in her freshman year and decided to get her GED to devote more time to her daughter. She planned to take the GED test last year, but because of the closure of most in-person test sites, her plans were temporarily pushed back. “The virtual testing just doesn’t really work for me, because since I am a mom, it’s really hard to find that time away to take the test,” says Maddie.

In the fall, Maddie hopes to get her GED and go to college, studying the sciences. But she’s concerned about staying away from her daughter for long periods of time.

“I definitely don’t want to start any in-person education for myself until my daughter is in school,” says Maddie. “When she turns four or five, I plan on putting her in a Montessori program. When she’s there, I’m hoping I’ll be able to do my school so that I don’t have to spend any more time away from her than I already would be.”Lewis says that, ultimately, change has to start from the core of school culture.

“If you are pregnant or if you have a child, you’re often made to feel that [school] is not a safe space for you. And it’s really, really hard to be successful in a space when you don’t feel welcome. We need a culture that’s really embracing of all students, no matter what their experiences are,” she says.

Source: Teens Moms Say the Pandemic Has Made School a Huge Challenge | Teen Vogue

.

Related Contents:

Work from anywhere’ is here to stay. How will it change our workplaces

Telecommuting has Mostly Positive Consequences for Employees and Employers

Six Key Advantages and Disadvantages of Working from Home in Europe during COVID-19

Federal Computer Week, Telework: Senate gives unanimous thumbs up

Survey: Only 7% of Workers Say They’re Most Productive in the Office

Global, regional, and national burdens of ischemic heart disease and stroke attributable to exposure to long working hours

Advantages and Disadvantages of Telecommuting to Work

Change in remote work trends due to COVID-19

Straight Talk on Telework. Technology

Homeworking: helping businesses cut costs and reduce their carbon footprint

Pros And Cons of Working From Home – Extra Paycheck

Change in remote work trends due to COVID-19

Work from anywhere’ is here to stay. How will it change our workplaces

Cybercriminals Are Coming for Your Business. Here Are 5 Simple Ways to Keep Them Out

Now, more than ever, is a crucial moment to button up cyber security measures at your company. Small businesses were easy prey for cybercriminals during the pandemic. A shift to remote work meant hackers had their pick of unsecured home networks and devices. Now, even though many businesses have moved back to in-office work, it’s likely they’ll still be targeted by hackers. Savvy thieves often see small businesses as a “Trojan Horse” to the larger businesses with which they partner.

Panelists at a Chamber of Commerce event on Thursday shared tips on what businesses need to keep in mind in order to protect their data and assets from cyberattacks.

Ransomware comes in via email and can hide for several days.

Some cyberattacks will do damage instantly, taking down all of your systems and locking you out. But some, such as ransomware emails, require more time to take root.

“So maybe an employee clicks on an email that goes through their device, and they send that email to somebody else that hits another application or device. It can really be in your system for several days before you notice it,” said Tara Holt, senior product marketing manager at Iron Mountain. The delayed timeline is crucial to keep in mind as you work to nail down when and how a breach occurred.

Backup critical data, both on- and off-site.

Holt and other cybersecurity experts encourage businesses to store a backup of your most critical data as a second line of defense. This should be both off-site and online. Your business may still be able to operate during a cyberattack, even in a limited context, if there’s a backup handy.

Make sure payment processors are PCI compliant.

An overlooked area of cybersecurity is your third-party payment processor. Businesses that make hundreds of transactions per day must ensure that security standards are in place to prevent theft. Most merchants that accept credit cards must adhere to the Payment Card Industry Data Security Standard, or PCI.

A few credit card companies allow merchants that are not PCI compliant, but tread carefully with them — you’ll likely be stuck with the bill in the event of a breach. “If you get a breach, and you’re not PCI compliant, it’s a minimum of $80,000 apiece and MasterCard will have to charge you, because they’re going to have to resubmit new cards for those people whose cards may have also been compromised,” said Renee VanHeel, president of Pay It Forward Processing.

You can pay the ransom, but don’t expect to get your data back.

While taking cybercriminals at their word is always a risky undertaking, when it comes to ransomware, few crooks are honest players. Businesses that pay ransoms must deal with the very likely possibility that any data they get back will either be incomplete or corrupt.

An estimated 92 percent of victims who pay the requested ransom don’t get their data back, according to a 2021 Sophos State of Ransomware report.

Use a “zero-trust network” and multi-factor authentication.

Chances are, your team probably needs a refresher on what makes a strong, unique password, which can go a long way toward securing your systems. Best practices include combining three or more unrelated words — proper nouns are good — with numbers or special characters separating them.

Requiring the use of VPNs is also key. Saïd Eastman, CEO of JobsInTheUS, says his company uses both an internal VPN and a third-party VPN for customers. “We do that because we believe it’s important for us to provide a secure environment for our employees to get in to do their jobs, but also a place for our customers,” he said.

Holt also suggests that businesses create what is called a “zero-trust network” that authenticates users every time they log-in. Multi-factor authentication, where users must enter a passcode that is sent to their phone or email, is another good safeguard.

“Adding in as many different layers of security as you can can really be that first step to protect you,” said Holt.

The Pandemic Led Many Women To Rethink Work. Here’s What They Want Most From Employers

No one had it easy during the pandemic, but the data shows that women may have had a harder time than men. At the end of 2020, women held 5.4 million fewer jobs than they had in February 2020, before the pandemic began. Meanwhile, men lost 4.4 million jobs over that same time period.

While working-age women overall have largely recovered since the depths of the pandemic, mothers have repaired their losses more slowly.  As of July 2021, nearly 1 million fewer mothers were actively working than in July 2020, according to Misty Heggeness, principal economist and senior adviser at the Census Bureau.

There are things employers can do to help. In a panel discussion on Tuesday hosted by the Independent Women’s Forum, a national organization dedicated to developing and advancing policies for women, experts discussed what employers can do to keep their female employees, especially those with children, on the payroll. Here are three things women say they want:

1. Accessible child care.

Many of the current struggles women face derive from finding adequate and affordable child care, said Angela Rachidi, senior fellow and Rowe Scholar at the American Enterprise Institute, a Washington, D.C.-based think tank that researches government, politics, economics, and social welfare.

She noted that many employer policies don’t completely meet a family’s needs, such as providing access to a convenient childcare provider. It’s also not particular to the pandemic, she noted that workplaces should be focusing on policies that offer more flexible, more affordable options, as opposed to just blanket childcare subsidies.

“I think that that’s where our focus should be,” said Rachidi. “It should be not only our government policies, but again, our workplace policies to make child care better, and meet the needs of families.”

2. Workplace flexibility.

Flexibility is vital to all working parents–not just mothers–but mothers are often quicker to express a desire to have the flexibility to work a reduced schedule, if need be, said Rachel Greszler, a research fellow at the Heritage Foundation, a conservative think tank in Washington D.C. So if the goal is to keep working parents on the payroll–or get them back–allow them time off during the day if needed, or the ability to structure their own hours.

If you’ve offered more flexibility during the pandemic, think about maintaining those policies or asking employees their thoughts on new schedules. “The pandemic has allowed employers to see that they’re able to have these policies. And not only the paid family leave, but the remote work and the flexibility. And I think just will become a silver lining coming out of all of this,” said Greszler.

3. Paid-time off.

Paid-time off is useful for parents, who need the time to care for an infant or an ill loved one. President Biden’s American Families Plan includes $225 billion to create a paid medical and family leave program. The program would eventually guarantee 12 weeks of paid leave, and providing a federal subsidy for workers of up to $4,000 per month. The Department of Labor found that 95 percent of the lowest-wage workers, mostly women and workers of color, lack any access to paid family leave, so the program is needed.

But to keep women in the workforce long term, you should offer both paid leave and increased flexibility, said Greszler, because paid family leave, while necessary may have a lower utility for women on a day-to-day basis than, say, malleable hours.

“I don’t think [a lack of] paid family leave is is holding women back,” said Greszler. “Women increasingly value flexibility far more than family leave.”

Even so, both policies can be done and the balance of the two may also help employees be more productive. In 2019, for example the Bill & Melinda Gates Foundation decided its generous 52-week paid parental leave policy was not working because too many workers would be out at the same time, creating more disruption that it was worth. Instead, the organization decided to offer half as much paid leave and a $20,000 stipend to new parents to help cover expenses and childcare.

Source: The Pandemic Led Many Women to Rethink Work. Here’s What They Want Most From Employers | Inc.com

.

Related Contents:

Statistical Overview of Women in Global Workplaces: Catalyst Quick Take

How women can make money married or single, in all branches of the arts and sciences, professions, trades, agricultural and mechanical pursuits

Why “Hard” Computing Tends to Exclude Women

Women in informal employment as share of female employment

What percentage of the US public approves of working wives

Vocational and business training to improve women’s labour market outcomes

The Impact of Contraceptive Freedom on Women’s Life Cycle Labor Supply

Women and Men at Work

Finally, a book that talks about gender-neutral workplace

An Analysis of Unreported Family Workers

Do Women’s and Men’s Labor Market Outcomes Differentially Affect Real Wage Growth and Inflation

Women’s Safety and Health Issues at Work

 

How To Support Kids Who Are Anxious About Returning School

Back-to-school jitters are normal every fall. But as families prepare for the beginning of the 2021–22 school year, these run-of-the-mill worries are colliding with fresh uncertainties about the ongoing COVID-19 pandemic, leaving kids and parents more anxious than usual.

Parents can use many strategies to help their children handle this challenging situation, according to Elizabeth Reichert, clinical associate professor of psychiatry and behavioral sciences at the Stanford University School of Medicine.

“I often talk to parents about being the lighthouse in their child’s storm, the light that shines steadily in a predictable rhythm and doesn’t waver no matter how big the storm is,” Reichert said. “Their job is to be that lighthouse.”

Reichert spoke with science writer Erin Digitale about how parents can help ensure that budding students of any age—from preschool to high school—are ready to handle anxieties as the school year begins.

Erin Digitale: What are some concerns kids may have?

Elizabeth Reichert: Lots of things come to mind. Many kids are going to a new school for the first time: Maybe they’re starting middle school, preschool, or kindergarten. Those are big transitions in nonpandemic times. With the pandemic, we might see more stress in kids of all ages.

Children may have concerns specific to the pandemic, such as the mandate that California students must wear masks while indoors at school. Kids who are more anxious may ask a lot of questions: “How am I going to keep my mask on all day? What if I want to take it off? What are the rules around it?” They may have increased fear of getting sick, too.

For some children and teens, it will be the first time they’ve been in close proximity to groups of people in a very long time, which brings up concerns about social interactions. For kids in middle and high school, social dynamics are especially important. They’ve just had a year and a half of navigating their social lives in the virtual world, and now they’re re-navigating how to manage social dynamics in person. Social interactions may feel more emotionally draining.

Also, not all kids are the same. With virtual learning, some children really struggled to stay engaged and motivated, grasp the material, and remain connected with friends and teachers. But there were other children, often those who were shyer or had difficulties in large-group settings, who thrived. For those more introverted kiddos, if they’ve been in a comfort zone at home, going back to large groups may be a more difficult transition.

ED: What signs might parents see that children are feeling anxious or otherwise struggling emotionally?

ER: This depends on the age of the child. Among little ones, parents may see increased tearfulness about going to preschool or day care, clingy behavior, or regression in milestones such as potty training. With school-aged children, parents may see resistance to going to school, oppositional behavior, and somatic complaints such as stomachaches or headaches.

That’s going to be really tricky to navigate because schools now have strict guidelines about not coming to school sick. For teens, there may also be school refusal and withdrawn behavior, such as staying isolated in their rooms, or more irritability and moodiness. Risky behavior such as substance abuse may also increase.

Parents can expect some distress and worry during the first few weeks after any transition—especially now, when children are being asked to do many new things all at once. That can affect energy levels and emotional reserves. But if there is a major change from a child’s or teen’s baseline behavior that doesn’t dissipate after a couple of weeks—such as a teenager who is withdrawing more and more and refusing to engage in typical activities, or a child who is progressively more distressed—that is a red flag. Parents may want to consider seeking help at that point.

ED: What proactive steps can parents take before school begins?

ER: Parents can start talking about going back, listening to what’s on their child’s mind, and engaging kids in the fun components of returning to school, such as picking out school supplies or a new T-shirt—something they can get excited about. They can also walk or drive by the school or visit its playground to build excitement. It may also be helpful to start practicing saying goodbye and leaving the house, encouraging independent play, and helping children adjust to being away from their parents.

If bedtimes have drifted later during summer vacation, parents can shift the family schedule during the week or two before school starts to get back in the habit of going to bed and waking up earlier. They can also reestablish other pre-pandemic routines that worked well for the family.

ED: If a child still feels distressed, what should parents do to help?

ER: If a child remains anxious, there are key steps parents can take. When our children are upset, our natural is instinct to remove the distress they’re experiencing. But the first step is not jumping straight to problem solving.

The first step is to listen, to create space to hear the kid’s concerns. Acknowledge what they’re feeling even if you don’t agree with it. The child should feel that they’re being heard, that it is OK to feel what they are feeling, and that they have space to talk to Mom or Dad.

Once parents have a better sense of what’s going on, they should try to work collaboratively with the child to figure out a plan. They can ask: What does the child feel like they’re capable of doing? What can Mom or Dad do to help? Who else could help—a friend, sibling, another family member? If, for example, a child refuses to go to school, parents can say, “How can we make it feel easier?” while also communicating to the child that, ultimately, it’s their job to go to school.

By creating small opportunities for getting through difficult situations and coping with their worries, children will build the confidence and the independence they need to feel more in control and less afraid. It’s important to remember that children are resilient and adaptable, and, for many, after a period of transition, they will find their groove.

Parents can also elicit the help of the school and teacher. Teachers know this is a big transition for kids, and they are gearing up to help.

ED: Parents feel anxiety about this transition, too. What healthy coping strategies can they use to make sure they manage their own stress instead of expressing it in ways that may increase their child’s distress?

ER: Parents are the biggest models for our kids. If our kids see us really anxious about something, they’re going to feed off that. Parents need to be mindful of their own emotions so they can self-regulate and become present for their child.

We want to be steady sources of support for our children. It’s also fine to say we feel worried or we don’t know the answer, because that shows it’s OK to feel those things. The problem is when our worries get too big, when we’re no longer calm, or we are saying and doing things we don’t want to model for our children.

It’s essential to find moments for self-care. Taking even just a couple of deep breaths in the moment, taking a bathroom break, getting a drink of water, or doing other things that create a brief transition for yourself, a moment to regulate your feelings, is helpful. Think back to what worked for you before the pandemic, and try getting even a small inkling of that back, such as five minutes a day of moving your body if exercise helps you. This is not only important for you as a parent, but it also shows your child that you have strategies to take care of yourself.

We can also invite our children into healthy coping activities with us: A parent can say to a school-aged or older child, “I’m feeling pretty stressed about this, and for me, going for a walk helps me clear my head. Do you want to go for a walk with me?” Parents and young kids can blow bubbles together—small kids enjoy it, and you can talk about how big breaths for bubbles help everyone feel better.

If they need more help, parents can seek resources from the teachers and support staff at their child’s school, from their pediatrician, and from online resources at the Stanford Parenting Center at Stanford Children’s Health.

Source: How to Support Kids Who Are Anxious About Returning…

.

Related Contents:

COVID-19 Educational Disruption and Response

Childcare-policy responses in the COVID-19 pandemic: unpacking cross-country variation

School closures caused by Coronavirus (COVID-19)

Update from Cambridge International on May/June 2020 exams

Modeling Reading Ability Gain in Kindergarten Children during COVID-19 School Closures

Adverse consequences of school closures

School closures are starting, and they’ll have far-reaching economic impacts

Impacts of the COVID-19 Pandemic on Life of Higher Education Students: A Global Perspective

Student-Loan Debt Relief Offers Support to an Economy Battered by Coronavirus

Homeless students during the coronavirus pandemic: ‘We have to make sure they’re not forgotten

Coronavirus Forces Families to Make Painful Childcare Decisions

Education Dept. Says Disability Laws Shouldn’t Get In The Way Of Online Learning

COVID-19 Educational Disruption and Response”. UNESCO

290 million students out of school due to COVID-19: UNESCO releases first global numbers and mobilizes response

Should schools close due to coronavirus? Here’s what research says

Latin America takes steps to counter coronavirus, Brazil’s Bolsonaro snubs warnings

Singapore makes ‘decisive move’ to close most workplaces and impose full home-based learning for schools

Delta Variant Has ‘Dented’ Job Market: Private Sector Added Disappointingly Low 374,000 Jobs In August

According to ADP’s monthly employment report, August employment data highlights a “downshift” in the labor market recovery marked by a decline in new hires following significant job growth from the first half of the year.

Despite the slowdown, ADP chief economist Nela Richardson says job gains are approaching 4 million this year but are still 7 million jobs lower than employment before the pandemic.

Service jobs continued to head up growth, with the leisure and hospitality sector adding 201,000 jobs, followed by the healthcare industry’s job gains of 39,000.

August job additions were in line with July gains of 326,000, but trail behind additions of more than 600,000 each month since April.

Key Background

With the unemployment rate of 5.4% still stubbornly above pre-pandemic levels below 4%, experts have cautioned that the post-Covid labor market recovery could drag on for years. Despite strong gains in past months, the Federal Reserve last week said its performance was still too “turbulent” to warrant a change in pandemic-era monetary policy, and Wednesday’s disappointing report should only bolster that argument.

Crucial Quote

“The delta variant of Covid-19 appears to have dented the job market recovery,” Mark Zandi, the chief economist of Moody’s Analytics, said in a statement alongside the report, adding that the labor market remains strong, but well off its performance in recent months. “Job growth remains inextricably tied to the path of the pandemic.”

The August jobs report, set to be released Friday, will give policymakers some insight into how the economy has responded to the delta surge. The U.S. added 943,000 jobs last month, according to the most recent report, but that data was compiled before the Centers for Disease and Control and Prevention first raised alarms about the transmissibility of the delta variant.

Though it may still take several months to assess the total impact of the delta variant, economists expect that women and Black and Hispanic workers, who were more likely to lose their jobs amid the onset of the pandemic, will continue bearing disproportionate burdens.

What To Watch For

The onset of the pandemic wiped out roughly 8.8 percent of jobs in public education as schools were forced to shutter, but Pollak said the delta surge is unlikely to trigger deeper layoffs. Instead, she expects delays to office reopenings driven by school closures to limit the recovery of other jobs reliant on work travel and office presence.

The Bureau of Labor Statistics will release its August jobs report on Friday. Economists expect the economy to have added 720,000 jobs last month, compared to 943,000 in July.

Follow me on Twitter. Send me a secure tip.

I’m a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC’s Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com. And follow me on Twitter @Jon_Ponciano

Source: Delta Variant Has ‘Dented’ Job Market: Private Sector Added Disappointingly Low 374,000 Jobs In August

.

Related Contents:

Jobs Report and the Monthly Employment Growth Statistics in US

US unemployment rate eases to 10%

“Payroll employment down 85,000 in December, unemployment steady at 10%

Low wage jobs are dominating the U.S. recovery

Latest release from the Labour Force Survey

Loonie soars on jobs report

109000 fewer jobless people in Canada

25000 fewer jobless people in Canada

Canadian Unemployment Rate At 8.0% October 9 2010

Experts predict bleak job numbers tomorrow

Gross Domestic Product (GDP) at 2005 Constant Prices by Area of Economic Activity

Poland’s Economic Outlook May Be Raised by IMF, PAP Reports

Latest release from the Labour Force Survey

Statistical Tables from Economic Survey of Singapore

Opinion – Block Those Economic Metaphors

In European Crisis, Iceland Emerges as an Island of Recovery

High-Frequency Charts Show U.S. Economy Softening From Delta

The Delta version has muted the progress of the US economic recovery from the Covid-19 pandemic, with consumers delaying some holiday spending and businesses returning to normal operations, according to multiple high-frequency reports. Show softness in August.

Airlines

The number of passengers passing through airport checkpoints has started declining again. According to data from the Transportation Security Administration, 1.47 million passengers flew on Tuesday, the lowest in more than three months. The seven-day average dropped to about 1.76 million passengers a day at the end of August, from about 2.05 million a month earlier.

While this partly marks the end of the summer holiday season, airlines have cited the Delta version as well. “There has been a slowdown in holiday bookings and an increase in cancellations,” said Helen Baker, senior research analyst at Cowen Inc. As companies delay return to offices, the return of business air travel may also be delayed, she said.

Restaurant Dining

After narrowing the gap to just 5-6% at the end of July, sit-down meals at U.S. restaurants have been down about 10-11% from 2019 levels in recent weeks, according to OpenTable, which processes online reservations. Is. Concerns about Delta and the city’s mandate are playing a part, according to the company.

“We see a clear decline in late July and August,” said OpenTable CEO Debbie Sue. “While several factors may be at play here, we believe the primary driver of the slowdown is diners’ concern about the rise in COVID cases.”

Hotel Occupancy

According to STR, a lodging data tracker, while leisure travel helped boost some popular destinations in the summer, the number of hotel stays declined for four consecutive weeks. Average room rates for three weeks have dropped.

Among the 25 major US markets, none saw engagement in the week ending August 21 compared to the same week in 2019, STR found. Occupancy in San Francisco has dropped by more than 40%, the most of any market.

“Demand looks like it’s doing a little worse than a normal seasonal decline,” said Bill Crowe, Raymond James Financial Analyst. There is a “coolness on travel due to delta-type case growth” with the business-travel markets underperforming.

Job Listing

While the labor market has hardened this year, and many employers say they are struggling to fill positions, there are some signs of a slowdown in demand among Delta. Dental office and child care jobs, for example, have declined in job postings for positions that would call for close contact with the public.

“During the latest wave of the virus, those virus-sensitive sectors have already seen a decline in job postings,” said Indeed chief economist Jed Kolko. If the wave continues, “demand for labor could collapse if people cut back on travel, eating out and other services.” And potential workers may be reluctant to look for work, he said.

Home Again

Big US companies’ plans to bring workers back to their offices in busy business districts are being reversed. Average office occupancy in the 10 largest business districts fell to 31.3% of pre-Covid-19 levels for the week ended August 18, according to data from Kastel Systems.

While the August holidays may have contributed, “the return to normal offices has been a bit slow due to delta,” said JPMorgan Chase Real Estate Investment Trust analyst Anthony Paolone.

This affects not only real estate but also a group of businesses that depend on offices, such as dry cleaners and urban restaurants, and the city through taxes.

“There is a cascading effect for the vibrancy of the various urban cores,” he said.

By: and

Source: High-Frequency Charts Show U.S. Economy Softening From Delta – Bloomberg

.

Related Contents:

Real-time data show virus hit to global economic activity

A third of the global population is on coronavirus lockdown

FDA anticipates disruptions, shortages as China outbreak plays out

Global stocks head for worst week since the financial crisis amid fears of a possible pandemic

European stocks fall 12% on the week as coronavirus grips markets

Scenario analysis, contingency planning, and central bank communications

WHO warns of global shortage of face masks and protective suits

A ‘short, sharp’ global recession is starting to look inevitable

Coronavirus: A visual guide to the economic impact

The coronavirus is expected to have cost 400 million jobs in the second quarter

Pandemic knocks a tenth off incomes of workers around the world

European Union Reveals $826 Billion Economic Stimulus Plan To Battle Coronavirus Damage

Economic Consequences of the COVID-19 Outbreak: the Need for Epidemic Preparedness

The effect of control strategies to reduce social mixing on outcomes of the COVID-19 epidemic in Wuhan, China

Governments around the world respond to COVID-19 impact on the arts

Even After Pandemic Retail, Shopping Trends May Change

U.S. May retail sales surge 17.7% in the biggest monthly jump ever

A completely new culture of doing research.’ Coronavirus outbreak changes how scientists communicate

The economy post-COVID-19: How to support investment without too much debt

%d bloggers like this: