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Post: Oct. 26, 2020

NYS COVID and Micro Cluster Update

Governor Cuomo held a press briefing from Albany yesterday providing an overview of New York’s COVID-19 tracking data from Sunday, October 25th. Tracking data for the hotspots and the rest of the State are below.  

Here is a summary of positivity rates:

  • 20 hotspot zip codes: 3.25%
  • Orange Hot Zone: 1.54%
  • Rockland Hot Zone: 8.53%
  • Statewide: 1.45%
  • Statewide excluding hotspots: 1.18%

Here are some useful links:

“Mask Up” Campaign to Benefit COVID-19 Relief Efforts

New York is partnering in with The RealReal and dozens of New York fashion designers to launch “Mask Up” – a five-week campaign to benefit COVID-19 relief efforts and encourage everyone to wear masks. As a part of this campaign, there will be themed mask releases every Monday.  A limited edition “New York Tough” mask designed by the acclaimed New York fashion label Public School was released today as part of the campaign. Governor Cuomo’s daughter Mariah has been volunteering on this project.

Read the press release

Europe Imposes New Covid-19 Restrictions as Second Wave Accelerates

Daily confirmed infections in Europe, which overtook the U.S.’s daily detected infections during October, are threatening to overwhelm European countries’ capacity to test, trace and isolate virus carriers, leading authorities and health experts to warn that the pandemic could intensify. Governments are hoping that last-ditch measures such as curbs on socializing and nightlife can reduce contagion again without strangling Europe’s economic recovery.

France announced a daily record for coronavirus infections, with confirmed infections reaching over 52,000 on Sunday. Italy, struggling with an explosive rise in infections, imposed the toughest restrictions on its population since ending its lockdown, including the closure of all bars and restaurants at 6 p.m. In Spain, the government announced a state of emergency, as it did in March, giving national authorities greater powers to impose social-distancing and emergency health-care policies.

Read more in the WSJ

Monday Economic Report: State Job Creation, PMI, Conference Board Survey and More

Michigan created the most net new manufacturing jobs in September, adding 5,200 workers. Other states with notable employment growth for the month included Wisconsin (up 4,800), Maine (up 4,700), Florida (up 3,700), South Carolina (up 3,600), Georgia (up 3,300) and Ohio (up 3,100). Despite gains over the past five months, manufacturing employment figures continue to experience sizable declines due to COVID-19.

The Conference Board’s Leading Economic Index rose 0.7% in September, increasing for the fifth straight month but still 4.1% lower than pre-pandemic levels in February.

Monday Economic Report 2020-1026

Stocks Slide on Virus Rise, Fading Stimulus Hopes

U.S. stocks dropped sharply, with the Dow industrials down about 650 points, as coronavirus cases surged in America and Europe, adding to worries about the economic outlook after Congress and the White House failed to agree on a fiscal stimulus deal

Read more at the WSJ

Survey: COVID-19 Isn’t Cancelling the Holidays Season 

Consumers are expected to spend an average of $1,387 per household this season, with the pandemic shifting how and where consumers will shop, according to Deloitte’s 35th annual holiday retail survey released on Oct. 20. 

“In this season of uncertainty, price, value and convenience continue to be top considerations for consumers, as is the desire to get creative with how they celebrate the season with family, friends and pets, no matter the circumstances,” said Rod Sides, vice chairman, Deloitte LLP, and U.S. retail, wholesale and distribution leader

See the key findings at Material Handling and Logistics

Samsung Electronics Chairman Lee Kun-hee Dies at 78

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee’s leadership, Samsung rose to become the world’s largest producer of smartphones and memory chips, and the firm’s overall turnover today is equivalent to a fifth of South Korea’s GDP.

Samsung’s meteoric rise helped make Lee South Korea’s richest and most powerful industrialist.

Read more at IndustryWeek

The Hidden Costs of Working From Home

Nearly half of the American workforce recently entered their seventh straight month of working from home due to the coronavirus pandemic. As of June, 42 percent of American workers were working from home, while 26 percent of workers were reporting to work in person, according to Stanford University.

“Working from home has ups and downsides on costs,” Stanford University economist Nicholas Bloom told NBC News. “Of course, you do have to pay more water and you do have to pay more electricity … On the other hand, you have to set that against you’ve saved a lot of money on commuting.”

Read more at NBC News

Survey: Pandemic Fueling Stress Among Workers

One quarter of workers have considered leaving their jobs due to pandemic-driven stress, according to a study by SAP and AP-NORC. The survey reveals 80% of respondents said they felt positively about their employer’s response to the pandemic.

A quarter of the people we spoke with said they were considering quitting their job, and there was not a big difference between those working remotely and those who had to leave the home to work. But employees who are still going into a workplace were more likely to say they experienced a higher amount of stress, she said.  In addition, the poll found that 28% of those surveyed have cut back on their hours, and 20% have had to take leave.

Read more at CNN