Calling new U.S. tariffs announced by President Trump on imports of European Union steel and aluminum “unjustified,” the EU Commission reimposed a 50% tariff on U.S. alcoholic and nonalcoholic beverages and other products effective April 1. The EU also put…
Category: Economy
More People Moved Back Home at Height of Pandemic
People move all the time but at the height of the COVID-19 pandemic, a growing share of movers returned to their state of birth, a shift that began before the pandemic and gained even more traction at its peak. From…
Rising Home Equity Boosted Household Wealth During Pandemic
The median net worth of U.S. households increased about $40,000 from 2019 to 2022, primarily due to rising home equity during the COVID-19 pandemic. According to the U.S. Census Bureau’s Survey of Income and Program Participation (SIPP), median household net worth…
Harris Economic Plan Appeals Across Party Lines
Vice President Kamala Harris formerly accepted the Democratic Nomination for President of the United States last night, and her economic policy agenda announced last week is largely popular among Americans. The platform focuses on cutting the cost of living: primarily…
About 20% of Parents Reported Difficulty Getting Infant Formula in Summer 2023, Down 35% from Fall 2022
In 2022, the United States experienced an infant formula shortage [PDF 10.4 MB] due to the COVID-19 pandemic, a large voluntary recall, and related supply chain issues. Data show that ‘obtained formula at a different store than where they usually shopped’ was…
Pandemic’s Impact on Indoor and Outdoor Recreation Revenue
The U.S. Census Bureau’s Service Annual Survey (SAS) provides a detailed look at estimated revenue of employer firms for select indoor and outdoor recreation industries affected by COVID-19 and a glimpse into their recovery. Many fitness, recreation and other social activities moved outdoors when…
Supplemental Poverty Measure in 2022 Higher Than Pre-Pandemic Level
The Supplemental Poverty Measure (SPM), which includes government assistance, increased to 12.4% in 2022 from 7.8% in 2021, according to U.S. Census Bureau data released today. The 2022 poverty rate was also 0.6 percentage points higher than the pre-pandemic rate…
2022 Income Inequality Decreased for First Time Since 2007
Income inequality declined in 2022 for the first time since 2007, due primarily to declines in real median household income at middle and top income brackets, according to the Income in the United States: 2022 report released today. The report shows real…
Even in an Uncertain Economy, the Wealthy Will Continue to Travel, Napa Valley Tourism Reports
On August 30, Visit Napa Valley released its travel trends for its second quarter, revealing that hotel stays are a key metric in its continued recovery from the COVID-19 pandemic. Luxury hotels saw the most notable growth, which accounts for…
Most Americans say 2022 Was A Bad Year for U.S., Worry About The Economy
Most Americans say 2022 was a bad year for the country and themselves but it was still better than 2020 or 2021, per a poll from YouGov/Economist. Opinions on how the country is doing and where it is going vary…