Throughout the week, our team posts articles to a channel in Slack called read-this. This helps us stay up to date on the ongoing trends in food mobility – the equitable and sustainable movement of nutrients through communities, from cultivation to consumption and value recovery.
From hiring and unemployment to real estate and investing, there are a lot of shifting components in our economy right now. Here are a few trends we’ve been tracking as we enter month seven of the coronavirus age (who’s counting!?).
1. About a fifth of U.S. adults moved due to COVID-19 or know someone who did
Early in the pandemic, we were curious if the housing market would expand or contract and in fact, there’s been quite a bit of residence movement across the country.This Pew Research reveals that one in five U.S. adults say they either changed their residence due to the pandemic or know someone who did. Reasons for moving focused on pandemic-related job changes, additional space needed to work at home.
2. New Yorkers Flee for Florida and Texas as Mobility Surges
So, where exactly are people going? This data points to which areas are seeing the largest departures and arrivals during the pandemic, noting that:
“Far more people moved to Vermont, Idaho, Oregon and South Carolina than left during the pandemic…on the other hand, the reverse was true for New York and New Jersey, which saw residents moving to Florida, Texas and other Sunbelt states between March and July.”
3. Do Jobless Benefits Deter Workers? Some Employers Say Yes. Studies Don’t.
Some businesses are struggling to fill positions and are crediting that to the $600/week unemployment benefit. Their assumption is that the added salary and benefits coming from the government are making it less attractive for unemployed workers to apply for new work. On the contrary, economists have conducted studies that disprove that hypothesis.
4. Investing in Social Good Is Finally Becoming Profitable
Some good news in the world of impact investing: ESG (Environmental, Social, Governance) funds have significantly outperformed traditional investment funds so far this year. We were encouraged to note from this article that do-good companies are thriving, for example Vital Farms (sustainable, pasture-raised eggs) went public at the end of July and is valued at more than $1 billion.
We are definitely looking forward to the flock toward impact investments!
5. NPR Poll: Financial Pain From Coronavirus Pandemic ‘Much, Much Worse’ Than Expected
At least half of people in America’s four largest cities have experienced a job loss or a reduction in wages in their household since the start of the coronavirus outbreak, disproportionately impacting Black and Latino households.