Hotels, Travel Businesses Treading Water Waiting for International Tourists

Robert Miller, the president and founder of Travel Advocates, was on pace for his best year ever when Covid hit. His business, which helps large groups book travel and accommodations throughout the country, earned two-thirds of its revenue from foreigners traveling to...

Older workers are key to manufacturing’s recovery, but will they be retrained and rehired?

Pennsylvania governor Tom Wolf meets manufacturing workers in Hatboro, Penn. in 2015. (Photo: Flickr, CC BY 2:0) Stephen Ory’s career in manufacturing stretches back three decades, in shipyards, electricity utility, and nuclear. But when the nuclear power station he...

Supply Chain Shortages Still Persist in the Booming Restaurant Industry

A cook with no cookware is like a fish with no water. For an Alabama cook at a Huntsville gastropub cuisine restaurant, who asked to go by Sean, what sounds like a cook’s worst nightmare has become a recurring problem for the past two years.

Five Things to Watch in the May International Trade Report

The last two international trade reports have shown the US trade deficit holding at a record high. Tomorrow, the latest report will be released. Economists surveyed by Bloomberg expect the deficit to hit a new record, likely over $100 billion, compared with about $89...

Five Things To Watch Out For in Manufacturing

The manufacturing sector made slight progress in the month of March, and evidence points towards a similar outcome for April.  Regional indexes from the Chicago and Philadelphia Fed declined last month, also signaling that the ISM number may not spike drastically. ...

Shipping Costs, Delays Are Squeezing Businesses — And There’s No End in Sight

Businesses across the US have struggled with skyrocketing shipping expenses and lengthy delays for much of the last year, forcing them to make a decision: raise prices or swallow the increased costs. Contract rates to ship containers to the US have nearly tripled in the past year, while one-off spot rates rose as much as 1000%.

Keep Your Friends Close, and Your $5 Oat Milk Latte Closer: How Coffee Shops Are Weathering Inflation

William Somerville opened his coffee shop Social House Café in Williamsburg, Brooklyn, the week before the coronavirus lockdowns began in New York in March 2020. Two years later, after grappling with COVID-19, he’s facing a new challenge: inflation.  Costs are up from...

Housing price growth reached 34-year peak in 2021

Housing prices in the nation’s largest cities increased last year at the fastest pace in three decades, though rising mortgage rates could cool the red-hot market this year. National home prices rose by 18.8% from a year earlier, according to the S&P CoreLogic...

Retail Sales Soar in January Despite ‘Training Wheels’ Coming Off of the Economy

The Omicron variant made its rounds across the country in January, causing a number of employee shortages and shortened shopping hours. Yet, consumers continued to spend.

Beauty services are poised for a boom, but the industry is more competitive now

The last few weeks have been busy for Eleni Tziouvaras, who owns Goleta, California-based E Salon. Tziouvaras’ business contracted at the beginning of the pandemic, slashing her income by 90 percent to $15,000 in 2020. Now, with restrictions on businesses being lifted...
More Job Gains Show a Strong Economy

More Job Gains Show a Strong Economy

Job growth remained strong in April, another sign the economy continues to expand amid robust demand and a tight labor market. Employers added 428,000 jobs in April, the same number added in March, according to a report released Friday by the U.S. Labor Department....

Shipping Costs, Delays Are Squeezing Businesses — And There’s No End in Sight

Shipping Costs, Delays Are Squeezing Businesses — And There’s No End in Sight

Businesses across the US have struggled with skyrocketing shipping expenses and lengthy delays for much of the last year, forcing them to make a decision: raise prices or swallow the increased costs. Contract rates to ship containers to the US have nearly tripled in the past year, while one-off spot rates rose as much as 1000%.

Welcome to Issue Number One

Welcome to Issue Number One, a site covering economic trends. The site is produced by reporters at the New York City News Service and the CUNY Graduate School of Journalism. Email your comments to greg.david@journalism.cuny.edu.