Restricted States List: Rhode Island On, Delaware and DC Off
Governor Andrew M. Cuomo announced yesterday that an additional state meet the metrics to qualify for the travel advisory requiring individuals who have traveled to New York from those states to quarantine for 14 days. The newly-added state is Rhode Island. Meanwhile, Delaware and Washington, D.C. have been removed. The quarantine applies to any person arriving from an area with a positive test rate higher than 10 per 100,000 residents over a 7-day rolling average or an area with a 10 percent or higher positivity rate over a 7-day rolling average.
Euro Zone Factory Activity Bounced Back to Growth in July
An increase in demand after the easing of covid-19 restrictions led manufacturing activity in the euro zone to expand for the first time since 2019. IHS Markit, a research firm, reported that its manufacturing purchasing managers’ index rose from 47.4 in June to 51.8 in July. Any reading above 50 indicates an expansion.
“Euro zone factories reported a very positive start to the third quarter, with production growing at the fastest rate for over two years, fuelled by an encouraging surge in demand,” said Chris Williamson, chief business economist at IHS Markit. “Growth of new orders in fact outpaced production, hinting strongly that August should see further output gains.”
Lawmakers Aim for COVID-19 Relief Deal this Week
Congressional Democrats and Trump administration officials say they are aiming to have a deal on a fifth coronavirus package this week, in what would mark an escalation of the pace of the talks thus far. Treasury Secretary Steven Mnuchin told reporters after a closed-door meeting on Tuesday said they were not yet close to a deal.
“We did try to agree to set a timeline that we’re going to try to reach an overall agreement if we can get one by the end of this week, so that the legislation could be then passed next week,” Mnuchin said.
HR Leaders in Manufacturing are Rethinking Everything
HR leaders at manufacturing companies should be working closely with local schools and colleges on awareness and apprenticeships, rethinking job descriptions and employee-development programs, and considering targeted advertising to reach the right candidates. Neogen, a maker of food safety products, uses Facebook advertising to match with people’s interests and by geography, generating interest unmatched by other marketing channels, says HR executive Julie Mann.
NY Fed is Tracking the COVID-19 Economy with the Weekly Economic Index (WEI)
At the end of March, the authors launched the WEI as a tool to monitor changes in real activity during the pandemic. So far in 2020, the WEI has synthesized daily and weekly data to measure GDP growth remarkably well. This post documents this performance and offers some guidance on evaluating the WEI’s forecasting abilities based on 2020 data and interpreting WEI updates and revisions.
The Pandemic Shows Risk Assessments Need to Change
Most companies did not have sufficient risk planning before the coronavirus pandemic, and fixing this will require assessments that account for country and regional disparities while looking for positive opportunities, writes Neil Hodge. “Companies may want to use the current situation as an opportunity to start thinking more long-term, particularly with regard to how climate change may impact future operations, supply chains and ways of working, for example,” says Val Jonas, CEO of Risk Decisions.